News
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.
HomeServe to cut 300 jobs
HomeServe is to cut 300 roles in its UK business in an attempt to offset expected reductions in revenue.
Profits soar at Hastings
Hastings Insurance Group has announced a 100% increase in Ebitda to £70m along with a near doubling of profit before tax from £31m in 2011 to £61m for the year ended 31 December 2012.
esure banks on £1.2bn IPO
esure has set its initial public offering price at 290p a share, valuing the personal lines insurer at £1.2bn.
Allianz Commercial goes to AIG for new property chief
Allianz Commercial has appointed Anneke Sims as manager, property underwriting.
Direct Line Group chief Geddes paid £1.9m in 2012
Paul Geddes, chief executive of Direct Line Group, received £1.861m total remuneration in 2012.
Co-op insists sale decision "will not change" broker relationships
The Co-operative Insurance has claimed that the announcement it is up for sale "will not change the very important commercial relationship" it has with brokers.
Broker Apprentice: The winner is revealed
In this the eighth show of the series the winner of the Broker Apprentice 2013 series is revealed.
Lorica set to launch Northampton branch
Lorica Insurance Brokers is to open a new branch in Northampton amid a flurry of appointments.
Axa cites rival insurers for snubbing community brokers
Axa has taken a swipe at rival insurers for having "largely ignored" community brokers.
Co-op Insurance's MD insists sale is "in line" with group strategy
The Co-operative Insurance's managing director Mark Summerfield has insisted that the potential sale of its GI business is "entirely in line with the group's strategy".
Open GI and 'forgotten' Powerplace in SME broker launch
Open GI group CEO Chris Guillaume has stated that PowerPlace was "forgotten about" because it was not a priority for Towergate.
Co-op Group set to sell GI business amid falling profits
The Co-operative Group has confirmed it intends to sell its GI business - the Co-operative Insurance.
AMII chairman confirms Bupa trade body return
The chairman of the Association of Medical Insurance Intermediaries (AMII) has confirmed that Bupa is poised to work with members once again in the consumer private medical insurance (PMI) channel.