News
NU to expand broker underwriting service
Norwich Union is to increase its Broker Onsite Underwriting Service (BONUS) with a further 100 business account executives (BAE’s) over the next 18 months.
Woodstock Insurance Brokers acquire Kent-based broker
Woodstock has taken over the entire client portfolio from Morton Associates, Insurance Brokers based in Newnham, Kent.
Hart Insurance Brokers joins the Willis Commercial Network
The Willis Commercial Network has added a new member, Clydebank-based Hart Insurance Brokers, its eleventh Scottish member.
Motor premiums set to rise by 10%
Motor insurance premiums in the UK are set to rise by around 10% in the coming year, according to analysis by EMB, Europe’s largest firm of non-life actuaries. Despite the widespread public feeling that premiums are already too high, researchers found…
Link and Zenith to merge
GHL Europe, the holding company for the European businesses of Guardian Holdings, has announced that it will bring together its two insurance companies to create a single Gibraltar based insurer underwriting a single suite of products.
Average age of insurance candidates continues to fall
The ifs School of Finance has revealed that the average age of those gaining an entry level qualification in the insurance industry has fallen year on year since 2003, the year the Certificate in Regulated General Insurance (CeRGI) was launched.
Small businesses buying insurance out of hours
Research conducted by One Business Insurance has shown that most small businesses enquire about business insurance outside of normal working hours, with early mornings, evening and weekends being the most popular.
Fortis reports strong half-year results
Fortis has announced its half year results which show, that despite market pressures, it has managed to produce steady growth throughout the company, particularly in private car, with the number insured now standing at more than 1.6 million.
LV.com launched
LV= (formerly Liverpool Victoria) have unveiled a bold new online domain name: LV.com
Smart & Cook makes 54th acquisition
Harrogate-based broker Smart & Cook has announced its 54th acquisition with the purchase of Willis’ Cumbrian operation.
Fortis and Equity Red Star join caravan panel
Insuremycaravan.co.uk has added two new insurers to its panel giving caravan owners access to the UK’s online quote and buy service.
EasyJet and Mondial remove age limt
EasyJet and Mondial UK, have removed the upper age limit on single trip travel insurance policies.
Hiscox buys into PI broker Allison and Partners
Hiscox has bought 49% of UK Professional Indemnity broker and underwriting agency, Allison and Partners Insurance Services. The deal will include an option to buy the remaining 51% in the future.
ProtectaGroup to expand commercial division
Welsh-based broker, ProtectaGroup, has made two appointmenst to its commercial division.
NU's profits halve due to flood losses
Norwich Union's general insurance and health profits for the first six months of 2007 have halved in the wake of recent flood losses to £284m (2006: £560m)
Axa results impacted by £115m weather losses
Axa UK reported revenues in general insurance of £1.86 bn for the first half of 2007, up 9% on the same period in 2006 (£1.71bn). However, its profit and combined operating ratio were impacted as a result of £115m weather losses.
Aon acquires classic car broker
Aon has announced an agreement to acquire specialist vehicle insurance broker, Firebond. The terms of the transaction are not disclosed.
New PI brokerage startup
A new insurance broker specialising in professional indemnity (PI) and commercial insurance has been launched in Bristol. NTEGRITY Insurance Solutions will provide tailored insurance products alongside a dedicated claims service to businesses across the…
Oval buys a further Midlands broker
Oval has made its twentieth acquisition, increasing its presence in the Midlands still further with the purchase of Martin and Pethard and its associated company Premier
Slade Edwards & Co join Broker Network
Slade Edwards & Co has joined Broker Network, bringing the total number of firms recruited to the network to 169.
Flood damaged car warning
The second-hand car market could become swamped with flood damaged cars according to the AA.
Sales at Towergate Partnership increase by 30.9%
Sales at Towergate Partnership increased 30.9% to £709m of gross written premium for the first half of the year.
CCV acquires Liverpool-based broker
Cullum Capital Ventures has acquired Liverpool–based Ajax Insurance Brokers.
Brokers positive about insurers role in flooding crisis
Recent severe flooding in parts of the North and the South West of England will ultimately have a positive effect on the reputation of the UK insurance industry, according to a survey by NIG.