News
Home & Legacy achieves chartered status
The Chartered Insurance Institute (CII) has awarded Chartered Insurance Broker status to high net worth insurance specialist, Home & Legacy.
Aon sees operating income fall 8% in risk division
Aon has reported an 8% fall in operating income for its risk solutions division to $345m (£218m) in the fourth quarter of 2011 from $374m in the same period of 2010.
Groupama increases regional underwriting presence
Groupama has appointed three new regional underwriters to its development underwriting team.
Insurance to pay majority of £221m FSCS levy
The Financial Services Compensation Scheme (FSCS) has estimated the levy on financial services firms for 2012/13 will be £221m, up from £217m in April 2011.
Zurich expands mid-corporate appetite
Zurich has expanded its Corporate Focus range to include products covering food and beverage and sports, leisure and entertainment (SLE).
FSA seeks £578.4m from financial services in final year
The Financial Services Authority (FSA) has requested £578.4m in funding for 2012/13, a 15.6% increase on this year.
TVL expands with Maestro acquisition
Tasker Ventures (TVL) has acquired Cheshire-based Maestro Insurance Services.
CBG division exits Giles in MBO
Giles has sold the financial services arm of recent acquisition CBG to the management team.
Lorica appoints ex-Towergate director as new COO
Lorica Insurance Brokers has appointed former group director at Towergate Darryl Clark (pictured right) as chief operating officer.
Markel's combined ratio takes a tumble
Markel International has reported a combined ratio of 116% for 2011, in stark contrast to its rate of 95% for 2010.
Profits halved at Ace
Ace has reported that net income dropped by 49% to $1.59bn (£1bn) in 2011 from $3.1bn the previous year.
XL planning for construction growth with new appointment
XL Group has appointed Ian Lushington as construction underwriting manager for the UK, Ireland and Nordic region.
Arc Legal in SME deal with Swinton
Arc Legal Assistance has signed up to provide Swinton Commercial with a legal expenses policy geared towards protecting SMEs.
NIG rolls out new property cover
NIG has launched Essential Property Owners’ (EPO) cover, an SME-focused version of its Premium Property Owners’ (PPO) product.
Ansvar and WRS team up in charity push
Ansvar’s Millie Swain has linked up with WRS Insurance Brokers as their new on-site development underwriter.
Former Arista man heads up new Aspen venture
Aspen Risk Management has appointed former Arista regional manager, Paul Dooley to head up its new Manchester office.
APPG calls for more guidance on EU gender ban
Concerns over the implementation of the gender ban in insurance pricing have been raised by the All Party Parliamentary Group (APPG) on Insurance and Financial Services at a recent meeting.
Evolution agrees five year capacity deal with Allianz
Evolution Underwriting has announced the extension of its capacity arrangements with Allianz for a further five years covering property, casualty, excess of loss and motor lines.
Whittington heads out from London
Lloyd’s-based managing general agent, Whittington Capital Management Syndicate 2525, has appointed Stephen Fitzgerald to develop business in the UK regions that is not currently accessed through the Lloyd’s broker channel.
Two senior players leave Gallagher Heath for rival Bluefin
Bluefin has snapped up two senior brokers from rival firm Gallagher Heath.
Towergate responds to Fitch rating warning
Towergate has declared its finances to be “rock solid” as credit rating agency Fitch downgraded its outlook from stable to negative.
Laspo bill delayed until April 2013
The Jackson reforms will not be implemented until April 2013, the government has announced.
Towergate warned on rating downgrade risk
Fitch Ratings has warned that Towergate Finance faces an issuer default rating (IDR) downgrade in the next two years unless the broker can deleverage further and increase its EBITDA.
ABI refuses to renew statement of principles for flood insurance
The Association of British Insurers (ABI) has hit out at the government and said it would not renew the statement of principles for flood insurance as it was supposed to be a short-term measure and grossly distorted the market.