News
Purple signs up Oak and Rural to panel
Purple Partnership has teamed up with Oak and Rural Insurance to offer further mid to high net worth cover options along with an agricultural risk specialism to members.
Underwriters' role will have diminished by 2022 according to report
The overwhelming majority of SME business (80%) will be traded automatically or direct in ten years’ time and there will be less emphasis on underwriters’ experience and judgment according to a report from the Chartered Insurance Institute’s (CII).
Axa details new products in e-traded Simple range
Axa has launched six new products in the first wave of its multi-channel distribution strategy for brokers.
Ai Claims sees slip in profit and revenue
Ai Claims Solutions has reported a fall in profit to £858,000 in the six months to December 2011 compared to £1.2m in the same period of 2010.
Cobra Network bags seven new members
Cobra Network has signed seven new members so far this year and has three others in the pipeline.
Axa makes further addition to regional network
Axa Commercial is set to open its 11th regional trading office with the establishment of a new branch in Maidstone.
JLT delivers good revenue and profit growth for 2011
Jardine Lloyd Thompson (JLT) has followed the trend of positive financial results in the insurance market with a 13% hike in profits before tax to £147.6m for 2011.
Aviva gears up for Irish branch sale
Aviva has set Friday 2 March as the deadline for first-round offers for its 26 Irish branches.
Kiln receives top rating for employee happiness
Lloyd's insurer Kiln has been made it on to the Sunday Times 100 Best Companies to Work For 2012 list.
Towergate increases South Western presence with acquisitions
Towergate Insurance has acquired Centenary Insurance and William Rogers Insurance Brokers.
Brit profits fall and drag COR with them
Brit has announced falls in gross written premiums (GWP) and pre-tax profits along with a worsening combined operating ratio (COR) in its results for 2011.
Investigation begins as Riverbourne is rescued
The Riverbourne Group, the Caterham-based broker that recently entered administration, has been purchased in a deal that will see the business split in two.
Plum doubles sales with focus on non-standard risks
Plum Underwriting has doubled its sales over the past year as a result of increasing numbers of people struggling to find appropriate home insurance.
Keychoice improves membership package
Keychoice has added five new benefits to its membership package as the firm tries to gain increased leverage in the network sector.
Financial strength rating a priority when brokers assess insurers
Brokers are placing much greater emphasis on the credit ratings of the insurers they deal with, according to a recent survey by NIG.
Oval strikes exclusive deal with St Helens RFC
Oval has been appointed as the sole insurance and risk management provider by St Helens RFC (Saints) for its new stadium at Langtree Park.
Swinton to create more than 100 jobs in Manchester
Swinton is to create more than 100 call centre jobs to manage new business coming in from a deal struck with HPI.
Quinn seeks to defend himself against Anglo Irish claims
Seán Quinn has told the Commercial Court in Dublin he wishes to personally defend the former Anglo Irish Bank’s claim that he has a liability for loans of €2.34bn (£1.98bn).
FOS reveals PPI complaints halved in H2 2011
The Financial Ombudsman Service (FOS) received a total of 106,193 complaints between 1 July and 31 December 2011, and figures show that Barclays Bank was by far the biggest culprit in terms of payment protection insurance (PPI) complaints.
RSA receives rating upgrade from S&P
RSA Group has had its second piece of good ratings news in as many weeks with Standard & Poor’s (S&P) upgrading the insurer to A+ Stable.
Allianz chief sees room for underwriting improvement despite good results
Allianz UK CEO, Andrew Torrance, has conceded that the insurer’s underwriting performance is not good enough despite recording top line and profit growth and producing an overall combined operating ratio (COR) of 95.7% and a commercial one of 94%.
O’Roarke reveals targets for 2012
John O’Roarke, managing director of LV general insurance, has revealed the insurer is targeting an increase in profit of at least 20% in 2012.
Direct Line subsidiary awarded 'A' credit rating
UK Insurance, the main operating insurance subsidiary of Direct Line Insurance Group (DLG), has been assigned an ‘A’ financial strength and counterparty credit rating by Standard & Poor’s (S&P).
Welsh broker ranks 85 on 100 Best Small Companies List
Thomas, Carroll Group has re-entered the Sunday Times 100 Best Small Companies list.