News
Insurance Age has started blogging ... at last
Insurance Age now has its very own blog produced by the editorial team, editor Martin Friel, news editor Louise Meeson and senior reporter, Liz McMahon. Read on for the first couple of posts ...
Name change for NCG
NCG Professional Risks, the London-based Lloyd’s insurance and reinsurance broker, has changed its name to Oxford Insurance Brokers.
Ecclesiastical reports interim losses
Ecclesiastical has announced a loss of £9.9m in the first half of 2010. The figure is in stark contrast to the same period in 2009 when the insurer made a profit of £25.7m.
PB Week: On the march with the Tartan Army
It was with a sense of optimism that David Ross, the Chartered Insurance Institute’s director of communications, and I set off to Stockholm recently for a football friendly.
Brit Insurance boosts Glasgow operations
Brit Insurance has appointed Denise Fletcher and Karl Weidner to its Glasgow office. They join the property combined team, headed by Suzanne Sadahew, as underwriter and assistant underwriter respectively.
RBSI announces office closure plans and job cuts
Royal Bank of Scotland Insurance is to close 14 of its offices and plans to cut staff numbers at 12 other sites.
Fusion raids Allianz and Marsh for two broker-facing hires
Fusion has announced two key appointments which the company said reflects it commitment to "providing brokers access to a quality underwriting capability".
Fall in profits and revenue at Confused.com
Price comparison website Confused has announced a 10% fall in revenue and 20% decline in profit during the first six months of the year.
Fortis reports return to profit in Q2 but trails behind last year's H1 result
The insurer reported profit before tax of £8.4m for Q2 2010, an improvement on the £3.2m loss made in Q1, but behind last year's H1 profit of £26m.
Admiral's H1 2010 profit grows to £126.9m
Admiral's group profit before tax has soared to £126.9m for H1 2010, a 21% increase on the same period last year (H1 2009: £105.3m).
11 year high in claims against professional firms
High Court cases launched against professional firms for negligence have hit an 11 year high forcing more firms to borrow to pay increased professional indemnity insurance rates, according to independent finance provider Syscap.
FSA slaps Zurich UK with record fine for data loss
The Financial Services Authority (FSA) has hit Zurich UK with a record fine of £2.275m for failing to have adequate systems and controls in place to prevent the loss of customers’ confidential information.
Capita buys insurance scheme provider National Dental Plan
The Capita Group has acquired the National Dental Plan (NDP) group of companies for a cash consideration of £30m on a cash-free, debt-free basis.
QBE raids Chubb for accident and health underwriter
QBE has announced the appointment of Gemma Seymour as accident and health underwriter in its non-Lloyd’s A&H team.
Groupama completes claims consolidation with four senior appointments
Four appointments have been made as Groupama completes the centralisation of commercial and personal claims to its claims centre in Port Solent, Portsmouth.
Hiscox's H1 results reveal a fall in profits
Hiscox’s profits before tax have dropped to £97.2m (H1 2009: £141.1m) and the group combined ratio has increased by 5.8% to 93.6% (H1 2009: 87.8%).
Carbon offsetting: Energy bills to rise
Brokers could face an increase in annual energy costs of £368 by 2020 as a result of climate change policies, the government has admitted.
MP banned after driving without insurance
Bolton South East MP Yasmin Qureshi has been banned from driving for six months after being caught using her mobile phone while driving without insurance, according to the BBC.
Westinsure members approve Ink takeover
Giles-owned Ink Underwriting Agencies has completed the acquisition of the Westinsure Group for an undisclosed sum.
Quinn confirms withdrawal from solicitors' PI
Quinn Insurance has confirmed today that it will not be re-entering the solicitors’ professional indemnity insurance market in England and Wales this year.
Brit loses distribution head Tim Grant
Brit Insurance's head of distribution Tim Grant is leaving to join Dual Corporate Risks, Insurance Age can reveal.
BCIS study reveals nearly a third of UK home insurance policies are incorrect
Homeowners may have paid the wrong premium for their buildings insurance if they insured for market value rather than rebuilding cost, according to The Building Cost Information Service (BCIS).
RSA warned to raise Aviva offer to £8bn
RSA will have to raise its offer for Aviva’s general insurance business by 60% to £8bn to seal the deal, according to a report in the City AM newspaper.
Ace raids Chartis and Aviva for Birmingham team
Ace has announced two new appointments to its Midlands regional management team.