News
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.
Seán Quinn faces jail over contempt of court charge
Contempt of court proceedings have been initiated against Seán Quinn and two family members, the Irish Times has reported.
Allianz Legal appoints new sales chief
Allianz Legal Protection (ALP) has appointed Phil Ruse to the newly-created role of head of sales and distribution.
Biba confirms £1,500 prize for young broker competition
Nominations have now opened for the British Insurance Brokers’ Association (Biba) Young Broker of the Year Award 2012.
Barrere steps down from three directorships
Bernard Barrere has resigned as director of MMA Holdings UK, according to papers filed at Companies House.
RBSI explains rebrand to Direct Line
RBS Insurance has confirmed recent press reports of its rebrand as Direct Line Group in preparation of its split from the banking arm of RBS.
PM to challenge industry to reduce cost of motor premiums
David Cameron will host a summit with insurance industry representatives, consumer bodies and business groups in a bid to bring down the cost of insurance premiums and tackle the country's growing compensation culture.
Thailand flooding claims estimated at £1.4bn
Lloyd's has announced its estimated net claims from the flooding in Thailand last year will be $2.2bn (£1.4bn).