News
Giles offer for CBG Group “unconditional”
Giles Insurance Brokers’ cash offer for CGB Group, has now been declared unconditional.
MSL launches HR service for brokers
Alan Mills has been hired by MSL Legal Expenses to lead its new HR service.
Ellis joins Prince’s Trust Insurance Leadership Group
Grant Ellis, chairman of the Broker Network Group and Countrywide Insurance Marketing, is set to join the committee of The Prince’s Trust Insurance Leadership Group (ILG).
Alan Boswell opens three new offices
Alan Boswell Group has opened new offices in the City of London, Ely and Norwich.
Legal expenses provider loses two senior directors
ULR has announced that two senior directors have left the company.
Regulator warns of bogus firm offering motor cover for young drivers
The Gibraltar Financial Services Commission (GFSC) has issued a warning to the public regarding Unique Car Insurance.
Greater PI choice for brokers with new wholesale offering
Brunel Professional Risks has launched a wholesale professional indemnity (PI) broking service which it claimed gives brokers access to a wide PI market.
PPI complaints against banks continue to rise
Payment protection insurance (PPI) complaints at Barclays and Lloyds Banking Group rose by up to 30% in the first half of this year compared to the previous six months and may yet rise further.
Hardy reports large jump in COR
Bermuda-based Hardy Underwriting has announced a 17% deterioration in its combined operating ratio to 119% for the first six months of 2011.
Weak UK results disappoint IAG
“Disappointing” was the word repeatedly used by Australian giant IAG about its struggling UK business, dominated by Equity Red Star at Lloyd’s that has been ravaged by bodily injury claims.
Motor insurers move to help volunteers
Motor insurers have agreed not to charge extra premiums to volunteers who want to use their cars to help out their local communities such as by taking old and sick people to hospital appointments or on day trips.
Ecclesiastical to push COR below 98%
Group chief executive Michael Tripp said he was focused on reducing volatility and getting Ecclesiastical's combined operating ratio (COR) below 98%.
Significant scale change pleases Ageas chief
Barry Smith, chief executive of Ageas UK, has claimed the insurer is on track to break the 100% combined operating ratio (COR) barrier but warned again that he saw no real signs of commercial market hardening.
Aviva online motor brand goes live
Aviva has launched its new online car insurance brand, Quote me happy.
Giles acquisition of CBG extended
Giles Insurance Brokers' recommended cash offer for CBG Group has been extended until 31 August.
Ecclesiastical reports positive profit swing
Ecclesiastical has continued its yo-yo results trend with a pre-tax profit of £15.6m for the first half of the year(£9.9m loss in H1 2010) but its combined ratio remains above 100%.
Admiral's Engelhardt on Jack Straw and Confused.com
Henry Engelhardt, chief executive officer of Admiral, has welcomed Jack Straw’s intervention on referral fees but with certain crucial caveats.
Insolvencies on the increase, survey shows
The latest Insolvency Index has revealed an increase in the national rate of insolvencies with 0.10% of firms failing in July 2011, up from 0.08% in July 2010.
PMI provider claims data sharing first
Universal Provident has claimed to be the first provider to disclose claims information on private medical insurance (PMI).
Bodily injury claims starting to impact, admits Admiral’s Engelhardt
Chief executive officer at Admiral, Henry Engelhardt, has revealed that bodily injury claims have started to noticeably affect the insurer in the past year.
SRA to crackdown on ARP
The Solicitors Regulation Authority (SRA) has claimed it is taking strong enforcement measures against firms in the Assigned Risks Pool (ARP) insurance scheme that are failing to pay their premiums.
Admiral sees profit boost beyond analyst expectation
Admiral’s half year results for 2011 have revealed a 27% boost in pre-tax profit ahead of H1 2010 to £160.6m with turnover jumping 53% to £1.1bn.
Ageas increases profit four fold in first half of the year
Ageas has delivered a remarkable turnaround in its profits for the first half of the year but its combined ratio remains stubbornly above 100%.
Towergate Perth makes corporate push with Giles hire
Towergate Insurance in Perth has snapped up a corporate specialist from rival broker Giles.