News
Business insolvencies fall in November but research shows North – South divide
The latest Insolvency Index from Experian has revealed that the rate of business insolvencies fell to 0.07% in November 2010, down from 0.09% in November 2009, with businesses in southern England faring better than their northern counterparts.
Upheaval at Westinsure
Rival networks have begun to circle Westinsure in the wake of a series of upheavals since its takeover by Ink Underwriting.
Giles reveals turnover and earnings drop
The Giles Group’s full year results for the year ended 31 August 2010 has revealed a 3% drop in turnover to £70m (2009: £72.1m).
Cullum's Towergate shareholding to drop below 50%
Peter Cullum will lose his majority shareholding in Towergate Partnership as part of a new equity deal, Insurance Age understands.
FSA fines more than double to record £88m
The Financial Services Authority (FSA) handed down a record breaking £88.4m in fines in 2010 (to December 20), a growth of 154% from last year’s £34.8m, according to City law firm Reynolds Porter Chamberlain (RPC).
Car claim volumes double as snow and ice turn UK roads into ‘fairground dodgems’, says AA
Snow and ice have contributed to a 100 per cent increase in car insurance claims compared to an ordinary Monday in December, AA Insurance has reported.
Oval scoops IRM ‘Insurance Broker of the Year’ award
Oval Insurance Broking has received the ‘Insurance Broker of the Year’ award from The Institute of Risk Management.
FSA confirms training and competence regime changes
The Financial Services Authority (FSA) has published final rules to strengthen training and competence requirements for all individuals carrying out customer facing regulated retail activities.
Ecclesiastical raises £40m in share issue
Ecclesiastical has announced it has raised £40m through a new share placing, its first since 2005.
Broker leaves RBSI in management buyout
RBS Insurance (RBSI) has agreed to sell Devitt Insurance Services to its existing senior management team, lead by managing director William Hughes.
Giles makes second acquisition in as many weeks
Giles has strengthened its presence in the Belfast market with the acquisition of CJ Higgins & Co.
Insurance Age blog: A year of progress at the CII
Once again the UK dissolves into chaos and anarchy, writes Alasdair Stewart, head of business development, general insurance, at the Chartered Insurance Institute (CII). No, not the student protests, but the snow.
MUM expands product range with D&O move
Manchester Underwriting Management (MUM) has enhanced its product range with the launch of a D&O product.
Higos announces bold growth plan with senior appointment
Higos Insurance Services has appointed a retail branch director as part of ambitious plans to add 20 high street branches in the next three years.
SRA consults on bringing sole practitioners in line with sector
The Solicitors' Regulation Authority (SRA) has announced it is consulting on a proposal to bring the process for authorising sole practitioner law firms (firms with only one principal, who can be a solicitor or a registered European lawyer) in line with…
Bankers challenge FSA over PPI
The Financial Services Authority’s (FSA) principles-based approach to regulation has come under attack from the British Bankers Association (BBA).
Brit expands commercial motor team
Brit Insurance has appointed Gerry Ross as underwriter, commercial motor.
FSA warned not to stifle innovation
The length of time it takes the Financial Services Authority (FSA) to grant financial services firms permission to expand their businesses has more than doubled in the last year, says City law firm Reynolds Porter Chamberlain (RPC).
Zurich restructures UK business
Zurich has announced changes to the organisational structure of its UK general insurance (UKGI) business in a bid to bolster its accountability to the market.
HSB appoints London and South East regional manager
Sian Williams, regional broking director at Willis, has moved to HSB Engineering as regional manager for London and the South East.
Mid-corporates bullish about 2011, according to Chartis
Research by Chartis has found almost two thirds of mid-corporates are positive about the outlook for their business for the next 12 months.
Insurance Age blog: Bankers, music and brokers
Bankers just don’t get it, but do you? You might think that bankers in Ireland and the history of HMV have little to teach insurance brokers. But I beg to differ.
Survey finds increasing loyalty to aggregator sites
A survey by consultants EMB has found that around a third of people buying car insurance now choose an aggregator site to visit based on one they have used before, up from 26% in February.
Axa unveils senior personal lines team
Axa has revealed the senior management structure for its newly created personal lines operation, which now combines all its intermediated, partnerships and direct businesses, including Swiftcover.