News
Ageas produces growth and profit across the board
Ageas has reported a huge boost in both gross written premiums (GWP) and profit for 2011 as the insurer’s Tesco deal begins to pay dividends.
Moreland teams up with British Franchise Association to drive growth
Scottish broker Moreland Insurance has entered into a strategic partnership with business organisation the British Franchise Association (BFA) in a move designed to widen its UK reach.
Chubb rides in with seven new staff
Chubb Insurance has recruited seven new senior London-based employees to enhance its personal lines offering.
PwC: Companies must adapt to changing market dynamics
Over two thirds (70%) of insurance CEOs are planning to change their strategy over the next 12 months as they tackle ongoing economic difficulties and increasing regulatory pressures.
Miller adds Marsh and AJ Gallagher experts to team
Miller has appointed James Cunningham and Ewan Wauchope to bolster its political risk, trade credit and political violence capabilities.
Broker satisfaction with insurers remains high, survey says
Broker satisfaction with insurers has remained stable over the past five years and seen an increase for commercial lines, according to an annual survey carried out by General Insurance Market Research within Aura (Gimra).
Oliva management go it alone as Cooper Gay pulls capacity
Cooper Gay has pulled capacity from managing agency Oliva to focus its MGA strategy on international business.
MGAA unveils first elected board
The Managing General Agents Association (MGAA) has announced the members of its first elected board at its inaugural AGM.
THB makes latest purchase from AFL Insurance
THB has acquired AFL Insurance Brokers' UK commercial wholesale account.
Further credit rating woe for Allianz, Aviva and Axa
Moody's has downgraded the outlook from stable to negative for Allianz SE, Aviva plc and Axa SA and all subsidiaries of the three insurers.
Quinn Direct rebrand announcement imminent
Quinn Direct’s new owners are to launch the insurer’s new identity as Liberty Insurance later today, the Irish Independent has reported.
Axa Commercial lines opens revamped trading centre
Axa Commercial Lines has relaunched its Bolton branch as a national trading centre.
FSA managing director to leave
The Financial Services Authority (FSA) has announced that managing director and board member Margaret Cole is to leave the organisation.
Zurich UK sees profits rise
Zurich UK has reported a 28% increase in business operating profit to $256m (£163.3m) for the year ended 31 December 2011.
Axa UK optimistic following 2011 results
Axa UK has reported a combined operating ratio of 98.9% for 2011, an improvement of 6.4% on 2010.
Fitch rates FM Global AA for sixth year in a row
FM Global has retained its ‘AA’ rating in financial strength, and been given a ‘Stable’ outlook, for the sixth year running by Fitch Ratings.
Insurers prosecuted for data protection breaches in Dublin
Zurich, Travelers and Irish insurer FBD have been prosecuted for breaching the Data Protection Act after pleading guilty to illegally using social welfare information on individuals at Dublin District Court.
Broker Network signs up equestrian specialist
Shearwater Insurance has become a member of Towergate-owned Broker Network.
Aspen on the hunt for new CFO following poor 2011 results
Aspen Insurance Holdings is searching for a new chief financial officer following the departure of incumbent, Richard Houghton.
Business continuity plans likely to reduce premiums
New research has suggested that insurers are happy to provide premium discounts to companies that have business continuity plans in place.
Bollington reshuffles board
Bollington has restructured its board of directors and appointed Chris Patterson as group managing director.
Marsh reports increase in revenue and profit
Marsh & McLennan Companies, parent company of broking giant Marsh, has reported a 9.3% increase in total revenue to $11.53bn (£7.35bn) for 2011 from $10.55bn in 2010.
Disappointing results for Willis show income halved last year
Willis has reported total commissions and fees of $816m (£520m) for the fourth quarter of 2011, down from $823m in the same quarter of 2010.
Industry agrees to reduce premiums if government action cuts legal costs
The government has made a commitment to tackle the country’s growing compensation culture, reduce legal costs and cut health and safety red tape in return for the insurance industry’s assurance that it will pass any resultant savings on to consumers.