News
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.
FSA reveals £404m payout for Independent claims
The Financial Services Authority (FSA) has revealed that since Independent Insurance went into liquidation in 2001, £500m of assets have been realised for the benefit of the creditors.
Capita's head of GI leaves after less than year in role
Capita's head of general insurance (GI) Brent Escott is leaving his post by mutual agreement after little more than six months in the role.
Open GI and Endsleigh pair up for charity quote offering
Software house Open GI has teamed up with Endsleigh Business Insurance Services to help cut the time needed for the insurer's charity insurance quotes.
Biba "very concerned" about proposed FSCS cap rise
The British Insurance Brokers' Association (Biba) has raised concerns about the proposal to increase the financial cap on brokers' sub-class in the Financial Services Compensation Scheme (FSCS) by 50% to £300m.
FSA consults on new funding model review for the FSCS
The Financial Services Authority (FSA) has proposed changes to the funding of the Financial Services Compensation Scheme (FSCS) which it claimed could reduce the likelihood of interim levies and offer firms more certainty in the level of fees they pay.
Hiscox launches global media, entertainment and events division
Hiscox has merged its operations in global media, entertainment and events with a new division to be headed up by Suzanne Kemble.
AA: Home insurance premiums remain flat in Q2 but set to rise
The average cost of an annual home insurance policy, both buildings and contents, fell slightly over the second quarter of 2012, according to figures released by the AA.
Motor premiums back to upward trend, AA reveals
Car insurance premiums rose in the quarter ended June 2012, according to the latest AA British Insurance Premium Index.
Cobra shareholders accept £7.3m offer
Cobra Holdings has received approval from shareholders totalling 98.05% of the company for the offer from Alto Intermediary Group.