News
Hyperion plans to go public as equity firm buys 30% stake
Equity firm General Atlantic has agreed to buy 30% of the shares in Hyperion Insurance Group, as the broking group prepares to float.
SSP appoints Glennard to client role
SSP has appointed Gary Glennard as head of client programme delivery for Europe.
Brimecome replaces Hamilton as Axa chairman
Axa UK has appointed Ian Brimecome as chairman of the board replacing Anthony Hamilton who is retiring, having been in the role since September 2000.
Protect Association chief Devine signs up with Allianz
Steve Devine, chairman of the Protect Association, has joined Allianz Global Assistance to work with the company’s business development team.
FSA fines Pru £30m and censures CEO
The Financial Services Authority (FSA) has hit Prudential with a £30m fine and criticised CEO Tidjane Thiam.
Lloyd’s profits approach £3bn
Lloyd’s has announced a profit of £2.77bn for 2012, reversing a loss of £516m in 2011. The market also saw an improvement in its combined ratio to 91.1%.
Broker Sentiment Survey enters last 48 hours – don’t miss out
There are only 48 hours for brokers to get involved with the first Sentiment Survey of 2013 and make sure their views on the likes of dual pricing and regulation are heard by insurers.
Lucky 13 for RK Harrison as profits up again
RK Harrison has recorded a 13th successive year of growth and increasing profit.
La Playa sets out acquisitions role for Mullee
Matthew Mullee, co-founder and formerly private client director at La Playa has been appointed director of growth and acquisition for the broker.
Bollington names new COO in string of senior appointments
Bollington has appointed David Simpson as chief operating officer, with responsibility for finance and operations.
Nash joins Miller
Richard Nash, a specialist in global property and casualty programme design and placement for UK and European corporates, has joined Miller.
CII group proposes London Market internship framework
The Chartered Insurance Institute’s (CII) London Market faculty New Generation group has proposed a new internship programme to help young people begin a career in the market.
LV Broker claims 'real-time' first with broker system
LV Broker has unveiled a new management system designed to help brokers control their accounts online.
Co-op Insurance reacts to job loss fears
The Co-operative Insurance has moved to quell concerns over the jobs of more than 1,000 employees following the announcement it is up for sale.
Profits up at Abbey Protection
Abbey Protection has announced a 3% rise in pre-tax profits to £10.3m with total revenue up 7% to £38.7m for 2012.
Compare The Market owner BGL appoints Donaldson to succeed Winslow as CEO
The BGL Group has appointed Matthew Donaldson to the role of chief executive officer with predecessor Peter Winslow becoming group executive chairman.
Investec savages Aviva over potentially irreversible decline
Investec Bank has issued a no-holds barred research note on Aviva and suggested that the provider may be in permanent decline as it cut the insurer’s target share price from 422p to 316p and advised investors to reduce their holdings.
Private equity house takes "significant stake" in Validus
Private equity house LDC is set to take a "significant stake" in motor claims business Validus-IVC.
New broker regulator FCA to focus on add-on products
The incoming Financial Conduct Authority (FCA) is to focus on add-on products and services in the general insurance market.
NMU strengthens Birmingham team with ex-Allianz man
Northern Marine Underwriters (NMU) has strengthened its Birmingham engineering team with the appointment of former Allianz man Steve Hodson.
Firms have no need to fear FCA, says Wheatley
Martin Wheatley, chief executive of the Financial Conduct Authority (FCA), has stated that the new regulator will be less aggressive than the Financial Services Authority (FSA).
Ex-Towergate regional MD joins Glendinning
Neil Forrest, formerly regional managing director for the North at Towergate, is to join JM Glendinning on 23 April.
Insurers urged to shape up ahead of Consumer Insurance Act
Law firm Keoghs has urged insurers to review their questionnaires and underwriting guidelines ahead of the introduction of the Consumer Insurance Act (CIA).
No IPO on the table at Hastings
Gary Hoffman, chief executive of Hastings Insurance Group, has reiterated that an IPO is not in the pipeline for the company as it posted soaring profits, although it could still be an option in the future.