News
Quinn Insurance bill could rise to €1.65bn
The estimated bill for the administration of Quinn Insurance has risen to €1.65bn (£1.3bn), administrators appointed to the insurer have told the High Court in Dublin.
Event Insurance Services in party protection launch
Event Insurance Services has launched a party package designed to give planners the ability to host events with confidence.
MIB chief criticises Arsenal star for driving offence
Ashton West, chief executive at the Motor Insurers’ Bureau, has hit out at Arsenal star Nicklas Bendtner for setting a bad example by driving without insurance.
Giles chief appointed Biba deputy chairman
The British Insurance Brokers’ Association (Biba) has appointed Brendan McManus as deputy chairman and made several changes to its board.
Aon to sponsor Man Utd's business network and charity arm
Aon has signed up to be the title sponsor of Manchester United’s business network and of the Manchester United Foundation.
Arsenal footballer fined for driving without insurance
Arsenal striker Nicklas Bendtner has been fined almost £5,000 for driving without a licence and insurance.
JLT swoops for Ace CFO
Jardine Lloyd Thompson Group (JLT) has appointed Mike Reynolds, currently chief finance officer at Ace European Group, as its finance director.
Fitch affirms QBE Europe's A+ rating as stable
Fitch Ratings has affirmed QBE Insurance Group’s long-term issuer default rating at A and its subsidiaries’ - including QBE Europe - insurer financial strength (IFS) ratings at A+.
LV chief John O’Roarke reveals COR and growth targets
John O'Roarke, managing director of LV general insurance, has reacted to the news that the insurer lost broker business in the first half of 2012 by admitting its results were “two ticks and a cross” across its three elements.
Markel strengthens professional liability team
Markel International has appointed Les Telford as senior underwriter for UK and international professional indemnity in the professional liability division.
LMI launches free online risk management service
Liberty Mutual Insurance (LMI) has launched a free online risk management facility for its policyholders.
Biba reports improved turnover but schemes income drops
The British Insurance Brokers’ Association (Biba) has reported a turnover of £3.2m for 2011.
FSA cancels broker's permission
The Financial Services Authority (FSA) has cancelled the permission granted to Castle Grove Insurance Services.
GI profits flat at LV
LV has reported profits before tax of £53m for the first half of 2012, in line with the £52m achieved in the same period of 2011 for general insurance.
Aviva to sell US division for £1bn
Aviva is preparing to sell its US division at an estimated loss of £800m, according to reports.
Hiscox returns to half-year profit
Hiscox has revealed a pre-tax profit of £125.8m for the first six months of the year, reversing a loss of £85.6m in the same period of 2011.
Ace optimistic following improvement in COR
Ace has reported operating income of $1.444bn [£916.7m] for the first half of 2012, up from $932m in 2011.
Aon sees profits fall
Aon has reported a 5% fall in profits for the second quarter of 2012 to $246m [£156.3m] compared to $258m in the same period of 2011.
FSA publishes new rules on packaged accounts
Banks and building societies will have to check whether customers are eligible to claim on insurance cover before selling them a packaged bank account under new rules published by the Financial Services Authority (FSA).
Brit COR improves to 93.3%
The Brit Group has revealed a combined operating ratio of 93.3% in its half year results, an improvement from the 104.8% it posted in the same period of 2011.
Cooter on gardening leave from QBE and tipped for RSA return
Simon Cooter has stepped down from his role at QBE.
Be Wiser expands with fourth Hampshire office
Be Wiser Insurance has opened its fourth office in Hampshire to house its audit and compliance department.
Equity Insurance Partnerships in 3-year deal with Royal British Legion
Equity Insurance Partnerships (EIP) has extended its affinity partnership with Poppy Insure, the trading subsidiary of the Royal British Legion.
BLG launches solar insurance product
Building and Land Guarantee (BLG) has launched Solar Shield, a new warranty designed to cover companies installing solar panels on their roofs.