News
Novae reports rise in profits
Novae Group has reported an increase in profit before tax and foreign exchange movement on non-monetary items to £13.6m during H1 2010 (H1 2009: loss of £2.1m).
Aviva's UK general insurance profits rise to £197m in H1 2010
The insurers UK general insurance operating profits increased by 24% to £197m in H1 2010 (HY09: £159m) but Aviva's combined UK general insurance and health operating profit fell to £268m during H1 2010, compared to £284m in the same period last year.
Howden appoints law firms to surveyors’ panel
Lloyd’s broker, Howden, has created a panel of law firms to provide a range of legal services to its surveying clients. The panel members are Reynolds Porter Chamberlain, Beale and Company, Weightmans and CMS Cameron McKenna.
RSA half year results show premiums up 9%
RSA has announced UK net written premiums of £1.5bn in the first half of 2010, up by 9% compared with the same period of 2009. However, it added its combined operating ratio had slipped from 97.4% to 98.9% for the comparable periods as a result of severe…
Exeter-based broker targets South west with Devon acquistion
Fidelius Insurance Services has acquired Devon-based Ottery Insurance Services for an undisclosed sum.
Broker jailed for £1m fraud
Timothy Barker, formerly of Lloyd's broker Besso, has been jailed for three and a half years for tricking bosses into paying him extra money.
PB Week: Footballing lessons
My boys have to learn the offside rule this year. This season the team is progressing from playing mini soccer (seven a-side) to 11 a-side football, carrying England's future hopes and dreams with them.
Director leaves Aon to head up Torus' UK casualty team
Torus has expanded its casualty platform with the appointment of David Whyman as senior vice president, UK head of casualty, based in London.
Fortis completes Kwik Fit aquisition
Fortis Insurance UK has been given regulatory approval from the Financial Services Authority(FSA)for the purchase of Kwik Fit Insurance Services.
Four men sentenced for role in claims fraud
Two men have been sentenced to a total of 30 month’s imprisonment for defrauding insurance companies as part of Operation Flash, a joint effort between the Insurance Fraud Bureau (IFB) and Lancashire Constabulary.
Carbon Offsetting: Carbon offsetting in vogue
It is impossible to avoid emitting carbon, so paying someone else to make a carbon saving is an increasingly popular choice.
Legal: The opportunity of uncertainty
The vague Green Economy Bill is not an excuse for the industry to ignore climate change risks, rather to take a lead in tackling the problem and grab a big opportunity, writes Lindene Patton.
Viewpoint: The carbon challenge
Climate change remains controversial for broking. Either it is not discussed or it is addressed in the context of new business opportunities such as renewable energy. Regardless of a broker's positioning on climate change, it has become a regulatory…
L&G insurance profits increase to £14m for H1 2010
Legal & General’s (L&G) insurance division has reported a rise in operating profit to £14m for H1 2010, compared to £6m for the same period last year.
Insurance revenue grows 9% at Moneysupermarket
Moneysupermarket has reported a 9% increase in insurance revenue to £40.6m for the six months to 30 June 2010 (H1 2009: £37.1m).
Axa loses 18% of GWP in commercial as GI UK results falter
Axa has seen another drop in profitability in its UK GI business in the first half of 2010.
QBE reveals only one in six SMEs will hire staff this year
QBE's Investment in Staff survey of small and medium-sized enterprises (SMEs) has shown that only one in six (15%) of those questioned are looking to hire more staff in 2010.
Willis report predicts further insurance rate softening in power sector
Insurance rates in the power sector are expected to soften further in 2010, despite the existence of many of the conditions that would normally lead to a hardening market, according to the latest Power Market Review from Willis.
Marsh reports rise in risk and insurance revenue
Marsh & McLennan has reported a rise in risk and insurance services revenue to $1.5bn for Q2 2010, an increase of 9% from the same period last year or 1% on an underlying basis.
E-commerce: Towergate Affiliate offers brokers financial incentive
Towergate is offering a commission incentive to brokers that use its new affiliate website.
E-commerce: Swift Assure quote-and-buy facility targets high-profile users
Leicester-based online broker startup Swift Assure has announced the launch of a new quote-and-buy facility.
E-commerce: Groupama pilots ‘first stand-alone PI cover for SMEs’
Groupama Insurances has expanded its Optima online product range with the pilot launch of what it claims is the first stand-alone professional indemnity (PI) cover for small to medium- sized enterprises (SMEs).
E-commerce: RSA launches e-trading service for brokers
RSA has launched a new e-trading service for brokers as part of its bid to become a top three player in the small to medium-sized enterprise (SME) arena.
E-commerce: Insurance professionals miss out on social networking opportunities
The insurance industry has failed to jump on board the social media marketing bandwagon, despite growing use in other economic sectors.