News
AA director admits surprise as household premiums fall
The latest benchmark AA British insurance premium index of home insurance premiums recorded quarterly rise in the average quoted premium for an annual buildings insurance policy, which now stands at £213.32, about £3 or 1.8% higher than the previous…
Motor premiums up 7.6% in 12 months claims survey
The latest figures from the AA’s benchmark British insurance premium index show UK average premium quoted for an annual comprehensive insurance policy rose 3.1% or £22 over the past quarter, a similar rise to the previous three months. Over the year,…
OurNetwork unveils members of broker advisory panel
OurNetwork, the new network for brokers, has released details of its broker advisory panel – a group of experienced senior brokers whose role is to advise the network on broker needs and service requirements.
Zurich UK set to redomicile
Zurich UK has become the latest company to make the decision to redomicile in the Republic of Ireland in a move the insurer says will create greater efficiencies throughout the group, Insurance Age has learned.
ABI: we will not be complacent but the insurance industry remains strong
The Association of British Insurers (ABI) has insisted that the UK insurance industry remains stronger than during previous times of market turbulance.
AIG cancels $8m worth of junkets to appease New York attorney general
Following a meeting with the New York State attorney general Andrew M Cuomo, AIG chief executive and chairman Edward Liddy has agreed to take several significant actions with respect to expenditures at AIG.
Cooper Gay to complete two acquisitions before end of 2008
Insurance broker Cooper Gay has confirmed that it will complete at least two acquisitions before the end of 2008.
Fitch warns of mounting pressure on global insurance ratings
Fitch Ratings said that balance sheet pressures for insurance and reinsurance companies globally were becoming more severe as insurers experience greater unrealised market value losses, and take impairments, on their investment portfolios. As such, Fitch…
Ascot Underwriting appoints new CEO
Andrew Brooks, currently chief underwriting officer of Ascot Underwriting, has been named chief executive officer.
Two thirds unprepared for flooding
Almost two thirds of British homeowners said they did not feel prepared in the event of a flood occurring in the area they live in, according to new research.
Brokers warned of client money risks
BDO Stoy Hayward LLP has warned all regulated insurance intermediaries holding monies on behalf of clients to take all necessary steps to ensure that money they deposit with banks on behalf of their clients is safe if the bank were to fail.
Accident management director arrested for motor claims fraud
The director of a multi million pound accident management company was arrested for conspiracy to scam UK motor insurers.
Ignition bolsters regional team
Ignition NBS has appointed a seven-strong team of regional development directors to meet growing client demand.
Marsh encourages smarter risk management to ease credit crunch
Marsh has released a paper detailing how insurance and risk management strategies could help UK firms strengthen their financial resilience and continue operating profitably during deteriorating economic conditions.
LV= acquires Highway
Liverpool Victoria (LV=) has completed its acquisition of Highway Insurance. The acquisition, which includes Highway Insurance and Hero Insurance Services, will expand LV=’s general insurance division.
Glacier Insurance opens new office in London
Glacier Insurance, headquartered in Liechtenstein and part of the Switzerland-based Glacier Group has moved to its new underwriting office in London. It will now have a permanent base at 88 Leadenhall Street, London.
Insurance Age on-air news review
Features editor Martin Friel looks at the main broker stories this week
Axa launches £4m marketing campaign
Axa is to launch a fully integrated advertising campaign through Saatchi & Saatchi and Team Saatchi, which highlights how consumers deserve the highest standards of customer service from financial services companies.
Galbraith hits back
In response to the claim that UK brokers are at war over commission Eric Galbraith, British Insurance Brokers' Association (Biba) chief executive has issued a statement which he said would clarifiy Biba and LMBC’s position with regard to commission…
comparethemarket.com launches comparisons on new products
A new service has been launched by comparethemarket.com, the price comparison site. Consumers can now search the site for excellent deals across a greater number of financial services products including health insurance, current accounts and savings…
CII opens up Talent Initiative database to the market
The CII Group has announced its extensive Talent Initiative graduate database will be available to the whole insurance industry until the end of November.
Aon acquires in hospitality sector
Aon has acquired specialist insurance broker, Supercover Holdings for an undisclosed fee.