News
Fitch hails OFT decision to refer motor market to Competition Commission
Fitch Ratings has welcomed the Office of Fair Trading’s (OFT) provisional decision to refer the private motor insurance market to the Competition Commission.
Hyperion buys Windsor from management
Hyperion Insurance Group has bought Windsor from the management and employees and their institutional backer Hutton Collins Partners for £95m.
OFT competition decision on motor market divides opinion
The news that the Office of Fair Trading (OFT) is considering referring the private motor insurance market to the Competition Commission has been met with a range of different reactions.
InsureServe in online add-on deal with ULR Additions
InsureServe, the Brighton-based marketing group, has launched 19 new insurance add-on products through legal expenses insurer ULR Additions.
RSA unveils new personal lines broker MD
RSA has appointed Jill White as managing director, personal lines broker, following the announcement of a change in role for previous chief Steve Kingshott.
"Dysfunctional" motor market referred to Competition Commission
The Office of Fair Trading (OFT) has provisionally decided to refer the private motor insurance market to the Competition Commission.
RSA partners with Ingenie on telematics
RSA has signed a deal with Ingenie to provide underwriting capacity for the telematics offering targeted at drivers 17 to 25.
Bernard Mageean leaves Broker Network for Giles
Giles Insurance Group has appointed Bernard Mageean as managing director, underwriting and wholesale.
Lorica appoints former JLT partner
Lorica Insurance Brokers has revealed that Stefan Puttnam, previously a partner at JLT, will join the company as an executive director as of 6 June.
Profits rise at BP Marsh
BP Marsh & Partners, a venture capital outfit with several insurance investments, has announced a consolidated profit after tax of £3.6m.
Insurers losing customers due to poor websites, study finds
UK home and motor insurers could be losing potential customers by providing a poor online user experience, according to research from Global Reviews.
Admiral's shares overvalued according to asset management firm
Asset management firm Investec has delivered a withering report on the value of Admiral’s shares advising investors to sell and describing the value of the shares as the “epoch of incredulity”.
Kwik-Fit to axe up to 170 jobs
Kwik-Fit Financial Services (KFFS) has confirmed plans to merge its insurance business onto one site with the loss of up to 170 jobs.
Ageas looks to Groupama for new household underwriting chief
Ageas has appointed Groupama’s head of household as its new head of household underwriting.
FSA to increase regulatory fees once again
The Financial Services Authority (FSA) is to increase the level of fees firms will be required to pay for 2012/13 under its annual funding requirement (AFR).
Giles not headed for IPO chief exec insists
Brendan McManus, chief executive of Giles Insurance Brokers, has hit back at claims the company’s backers are looking for an exit as he moved to dampen rumours of an imminent market flotation.
Giles losses for 2011 come in at £37m
Giles group has reported a further loss of £37.4m for the year to 31 August 2011 compared to £37.1m in 2010.
CCV wins chartered status
Cullum Capital Ventures (CCV) has been awarded chartered status by the Chartered Insurance Institute (CII).
Trade body demands greater clarity over new regulators
The International Underwriting Association (IUA) has called for greater clarity on how the two new insurance regulators are going to cooperate.
Direct Line to pay shareholders £500m dividend
Direct Line Insurance Group has declared an interim dividend with an aggregate amount of £500m.
Coversure opens first of several new offices
Coversure Insurance Services has opened a new office in Ilfracombe in Devon.
Three arrests in Liverpool over cash for crash fraud
Three people have been arrested in Liverpool as part of an on-going investigation into a suspected cash for crash fraud operation estimated to be worth more than £1m.
Scottish referral fee ban produces UK's lowest rate of whiplash claims
A ban on referral fees under Law Society of Scotland rules of practice has resulted in the country recording the lowest rate of whiplash claims in the UK.
Insurers behaving in 'morally repugnant' fashion over PI auctions
A solicitor’s firm has branded the practice of auctioning books of personal injury claims morally repugnant and bankrupt.