News
New schemes dedicated event hits Manchester
Insurance Age is delighted to announce the launch of a brand new broker-only event dedicated to the schemes market.
AA warns homes may become uninsurable against flood risk
AA Insurance has called on the government to take “decisive action” before homes in flood-prone areas of the UK become uninsurable.
Biba signs up Groupama broker as latest member
Carole Nash, the Groupama-owned motorcycle and classic car broker, has joined the British Insurance Brokers’ Association (Biba).
MPs criticise government over flood defences
The Commons Public Accounts Committee has criticised the government over flood defences and urged the Association of British Insurers to renew its statement of principles on flood insurance.
Sants claims he was talked into taking top job
Hector Sants, chief executive of the Financial Services Authority (FSA), claims he was talked into taking the job and that he would never let the former management of RBS work in finance again.
Biba reveals keynote speakers and panelists for 2012 conference
The British Insurance Brokers’ Association (Biba) has revealed that the father of the internet and one of the UK’s leading political journalists will be the keynote speakers at this year’s Biba Conference.
Biba splits from RWA
The British Insurance Brokers’ Association (Biba) has split with RWA Group, one of its compliance partners.
New claims mediator launches to brokers
Expedite Resolution has launched a new service that it claims could bring a flexible and cost effective approach to claims settlement.
Lloyd’s broker bought by US group
London-based broker and underwriting company Chesterfield Group has been bought by US-company H.W. Kaufman Financial Group.
Leroy completes MBO of Europe Assistance Holdings
Patrick Leroy, chief executive of Europe Assistance Holdings, has completed a management buyout of the firm.
FSCS spent nearly £400m on management expenses last year
The Financial Services Compensation Scheme (FSCS) spent nearly £400m on management expenses in the 2010/11 year as it took in nearly £1bn in levies and paid out over £535m in compensation.
Standard & Poor’s outlook for insurers remains negative
Standard & Poor’s (S&P) has reaffirmed the credit ratings of Allianz, Aviva and Axa groups but warned the long term outlook for all three was negative mainly as a result of the Eurozone crisis.
A&A Group in management buyout
Darwin Private Equity has entered into an agreement to acquire The A&A Group and Hyperformance Limited in a management buyout.
Premiums rise as profits fall at Chubb
Chubb has reported net income in Q4 2011 of $452m (£287.7m) down from $620m in the same period of 2010.
Insurance companies lagging behind in payments
UK firms improved their overall payment performances in the final quarter of 2011, but insurance companies did not follow this trend, figures from Experian have revealed.
FCA chief vows to end laid back regulation
The Financial Conduct Authority (FCA) needs to make better, bolder, faster decisions and will not lie back and let financial markets run themselves.
Policy sales up at Brightside ahead of results release
Brightside has revealed a 30.7% increase in policy sales to 444,189 [2010: 339,916] ahead of announcing its full year results to 31 December 2011.
New London sales chief for Axa
Axa Commercial Lines has appointed Ryan Birbeck as its new London sales manager.
Thoresen urges FCA to tone down the rhetoric
Otto Thoresen, director general of the Association of British Insurers (ABI), has called on the Financial Conduct Authority (FCA) to engage with balanced rhetoric to head of a confrontational relationship with the industry.
CCV starts 2012 with two acquisitions
CCV has bought Crown Insurance Brokers in Birmingham and Lyon Insurance Services in Anglesey.
RSA reveals 120 jobs at risk in UK business review
RSA has confirmed to sister title PostOnline that 120 jobs are at risk in a review of its UK business.
Zurich wins Chartered Insurer status
Zurich has been granted Chartered Insurer status by the Chartered Insurance Institute (CII).
Ex-Gallagher Heath MD joins Knowlden Titlow
Knowlden Titlow Insurance Brokers has appointed Rod Palmer, former managing director of Gallagher Heath’s Norwich branch, as broking director.
Powerplace chief executive out after only eight months
Powerplace, the Towergate online wholesale subsidiary, is to appoint its third chief executive in a year.