News
Bob Beckett sells up
NFU Mutual-owned broking subsidiary Country Mutual Insurance Brokers is set to takeover The Beckett Group from 31 December in a move that will increase its offices from 18 to 22.
Oak falls to Somerville
Lloyd's underwriting agency Somerville has purchased high net worth specialist Oak Underwriting, in a bid to grow the business and add new products to its stable.
Risk managers set to go it alone on D&O
The escalating cost of Directors' and Officers' insurance has prompted risk managers to investigate alternative forms of cover, according to the Association of Insurance and Risk Managers.
Planet opens doors following Allen acquisition
Markerstudy Insurance Group has increased its shareholding in subsidiary underwriting vehicle Planet Insurance Company following the acquisition of shares from Tony Allen of the Allen & Allen Group, a founding shareholder.
Folgate buys Warren Hill
The acquisitive Folgate Partnership has acquired Haywards Heath-based Warren Hill Insurance Brokers, its 27th acquisition.
RSA racks up £165m loss
Royal & Sun Alliance has recorded a loss for the first nine months of the year of £165m, compared to £125m for the same period last year.
Allianz Cornhill to switch 400 UK jobs to India
Allianz Cornhill plans to move 400 UK jobs to India by the end of 2005 in a move to reduce its cost base. The company outlined its plans to staff this morning.
MMA's Woolterton dies after illness
MMA Insurance chairman, Peter Woolterton has died after a short illness. He joined MMA in 1992 when he was appointed a director of Norman Insurance.
MCE targets threatened HHH staff
Broker MCE is targeting staff at Hill House Hammond’s (HHH) 150 seat call centre in Northampton which has been earmarked for closure.
Aults sets off on acquisition trail
West Bromwich-based broker Aults is expected to announce its first acquisition by the end of the year as part of a six month development programme.
Cox acquires 20-branch Bennetts
Cox Insurance has acquired personal lines specialist Bennetts Insurance for £4.475m (including the assumption of £2.8m debt). The broker has 20 branches with a head office in Worcester and branches across the South of England.
Hill House Hammond to close contact centre
National insurance broker Hill House Hammond is set to close its Northampton contact centre putting 150 jobs at risk.
Broker signs two year deal with CII
Liverpool-based broker Griffiths & Armour has signed a two-year deal with the Chartered Insurance Institute for the supply of 160 exams and related study material.The focus will be on the CII’s new Advanced Diploma in Insurance, although the arrangement…
Powell picks up Hodgson
Liverpool-based broker Powell Insurance Brokers has taken over Hodgson Barrow.
Regional brokers set to benefit from new Catlin start-up
Catlin Insurance, the Bermuda insurance underwriting subsidiary of Catlin Group, has applied to the UK Financial Services Authority for approval to establish a UK branch Office. The subsidiary will be managed by Andreas Loucaides, chief executive, and…
Hanover Park parent to float
Commercial broker Hanover Park's parent company Erinaceous Group plans to raise approximately £10m through a placing of ordinary shares and is seeking admission to trading on the Alternative Investment Market of the London Stock Exchange.
Shake-up at Heath Lambert sees Margrett walk
David Margrett, chief executive of broker Heath Lambert, has stepped down from active involvement in the management of the broker, with Ian Martin assuming the role of executive chairman for the group with immediate effect. The moves are part of a future…
Keating takes on Axa personal lines role
Axa has appointed Mike Keating as personal lines intermediary director to replace Kevin Sinclair who has recently been appointed as marketing and underwriting director. Mr Keating will take up his new role on 1 December.
Folgate rolls out Sirius for Broking
Broker Byas Mosley Risk Solutions has become the first broker to go live with The Folgate Partnership's bespoke version of Sirius for Broking.
GISC and IIB brokers given due credit by FSA
The Financial Services Authority (FSA) has finally decided that members in good standing of the General Insurance Standards Council and the Institute of Insurance Broker Registration Council will receive due credit in the FSA authorisation process.
TBS sets up second-tier network
The start-up network Total Broker Solutions, headed up by chief executive Mike Williams, has moved to set up a sister operation, Community Broker Services, targeted at smaller brokers in need of compliance and IT support and access to markets.
Insurance sex discrimination proposal given EC green light
Proposal now set to be put before European Parliament and Council of Ministers
Folgate appoints Networks head
The Folgate Partnership has appointed Simon Trott to oversee the integrationof Folgate's various networks offerings, including Folgate Masterplan,Folgate's Compliance Service and the set up of the Folgate AppointedRepresentative Network.
FSA opens doors to brokers
The Financial Services Authority last night launched the authorisation process for mortgage and general insurance firms.