News
M4 and Allianz locked in talks over capacity provision
M4 Underwriting’s coverholder agreement with Allianz hangs in the balance as the pair continue negotiations, Insurance Age understands.
HomecallPlus enters liquidation
HomecallPlus, supplier of emergency cover for homeowners and landlords, has gone into liquidation with confusion surrounding whether any policies issued in the last six months were backed by an underwriter.
Regulators reveal PRA approach
The Bank of England and the Financial Services Authority (FSA) have published a joint paper setting out the current thinking on how the future Prudential Regulation Authority (PRA) will approach regulation.
Munich Re held prostitute party
Munich Re rewarded high-performing agents with 20 prostitutes at a party held in Budapest in 2007, according to a story to be published today in German newspaper Handelsblatt.
Ryan Speciality completes purchase of Lloyd's player
Jubilee Group Holdings has confirmed its sale to Ryan Specialty Group.
Ageas sees no sign of commercial hardening
Barry Smith, chief executive of Ageas UK, told Insurance Age he had seen no signs of commercial market hardening and indicated that he was not anticipating it happening soon.
Conference may hold long term PPI answers
Tomorrow’s conference on banking regulation may provide some much needed clarity on the future handling of payment protection insurance (PPI) complaints, according to Paul Clark, CEO of Charter UK.
Biba queries "misleading" survey on aggregator commission levels
The British Brokers’ Association (Biba) has questioned a recent YouGov survey which stated that the average commission taken by comparison sites stood at 24%.
Ageas returns to profit despite 104.6% COR
Ageas Insurance has revealed profit before tax of £3.9m for the first quarter of 2011, a £9.2m improvement over the equivalent quarter in 2010.
Barbon employees to get slice of acquisition pie
Barbon Insurance Group has launched a unique new employee incentive in a bid to increase the number of acquisitions it makes.
FOS receives record-breaking number of PPI complaints
The Financial Ombudsman Service (FOS) has published its annual review covering the 2010/11 financial year.
Members force Biba to change PMI scheme
The British Insurance Brokers’ Association (Biba) has withdrawn its private medical insurance (PMI) scheme for members in order to remove a clause that handed all currently held business to its partner Jelf.
Brokerbility members reveal best performing insurers
Axa Commercial Lines has topped the Brokerbility bi-annual Satisfaction Survey for the second consecutive time.
Aviva makes aggregator u-turn
Aviva has confirmed it intends to return to the aggregator space for private motor with a new, separately branded internet-only offering.
Aviva chief hints that market may finally be hardening
The UK could be seeing the first evidence of market hardening in commercial lines, according to Mark Hodges, chief executive of Aviva UK although he declined to predict whether any increase would hold or how far it would go.
Cooper Gay gives UK structure a makeover
Cooper Gay has restructured its UK business, Cooper Gay, into three core trading units.
Aviva posts improved COR in first quarter 2011 results
Aviva has revealed a 20% increase in general insurance premiums to over £1bn for the first quarter of 2011 (1Q2010: £913m).
New Bill puts responsibility for securing risk info on insurers
The onus of responsibility to provide all relevant information regarding a risk has shifted from the customer to the insurer following the introduction of a new Bill.
RSA shakes up marine market with Noble purchase
RSA has confirmed its acquisition of all shares in Noble Marine Insurance Brokers and Noble Underwriting Agencies, for a rumoured £4m.
Allianz chief hails broker book but laments state of commercial market
Allianz UK CEO, Andrew Torrance, hailed the performance of the insurer’s broker retail book but lamented the continued soft condition of the commercial market as he revealed the insurer's financial performance for the first three months of 2011.
Blanc's restructure sees Gill depart from Axa
Axa Commercial Lines has announced that Dave Gill, the customer delivery director for the commercial intermediary branch network has left the business.
RSA's Donaldson on the move in managament shuffle
RSA has made some significant changes to its senior management with a shuffle that may have direct implications for brokers.
Liberty takes on 10 new staff to push commercial growth
Liberty Mutual Insurance, the commercial lines operation of Liberty Mutual Insurance Europe, has announced several new staff appointments as part of its drive into the UK’s commercial lines mid-market.
SSP platform closure could leave it vulnerable to attack
Software provider SSP is to phase out use of its Sector platform in a decision that could affect some of the biggest names in broking and leave its business open to attack from competitors.