News
Merger talk unfounded
Market rumours that SSP had opened talks with Broker Direct with a view to a possible takeover have been denied by both firms
Oval appointed to global broker network
Oval Insurance Broking has been appointed as a member of the Wells Fargo Global Broker Network.
Cunningham Lindsey responds to Chile earthquake
Cunningham Lindsey International has announced it is working on a response to the recent earthquake in Chile.
JLT to restructure business to maximise benefits of managing general underwriter Thistle
Jardine Lloyd Thompson (JLT) has announced a 14% rise in fees and commissions to £612.9m in 2009 (2008: £526.1m) while underlying trading profit increased by 28% to £97.1m (2008: £76.2m).
RSA announces £30m impact of Chile earthquake
RSA, a leading insurer in Chile, has announced an expected financial impact of £30m, net of reinsurance, for claims arising from the earthquake.
Arag raids DAS and RSA for new hires
Bristol-based legal insurance firm Arag UK continues its recruitment drive with two further appointments.
Drogba off the Hook with a fine after having no valid insurance
Chelsea striker Didier Drogba has escaped a ban after admitting he thought his French insurance covered him in the UK.
PowerPlace develops its RSA and NIG offering
PowerPlace has announced the launch of RSA’s motor trade along with pubs & restaurants from NIG on its online commercial insurance marketplace.
Admiral profits increase by 7%
Admiral has reported a 7% increase in profit before tax to £216m for 2009, compared to £203m the previous year, while turnover rose 18% to £1.08bn (2008: £910m).
Report reveals 54% rise in false insurance claims
False insurance claims and identity fraud is on the rise according to a report by fraud prevention service the Credit Industry Fraud Avoidance System (Cifas).
Police warn of rise in staged road traffic accidents
The Metropolitan Police has warned of an increase in deliberately induced road collisions in the M25 area.
NEDs receive "inflation busting pay increases"
The average basic fee for non-executive directors (NEDs) in the FTSE-100 has risen by 5.1% over the last year to £58,595, according to Incomes Data Services (IDS).
Sterling raids Hiscox for HNW underwriter
Sterling Insurance Company has appointed Jane Flaherty as a senior High Net Worth (HNW) underwriter based in the Midlands.
Chile earthquake insured losses likely to top $2bn
AIR Worldwide estimates that insured losses from the Chile earthquake are likely to exceed $2bn and that total economic losses may exceed $15bn.
Gio Compario ups aggregator's traffic
Go Compare's latest advertising campaign featuring opera singer Wynne Evans who plays a fictional tenor called Gio Compario is working.
More than 30% say RDR review will benefit no one
New research from Paaleads.com, Moneysupermarket.com’s lead generation business, shows that 31% of its financial advisers say the proposed retail distribution review (RDR) will benefit no one.
Law firm claims more companies may fight FSA decisions
Mathew Rutter, financial services partner at law firm Beachcroft, said: "The FSA has told firms to "be afraid", and now we know why."
Towergate Underwriting expands into Newcastle
Towergate Underwriting has opened its new office in Newcastle to serve brokers based in the North East and Cumbria.
FSA fines could treble in size
The Financial Services Authority (FSA) has published its new penalties policy, which it claims "establishes a consistent and more transparent framework" and could see enforcement fines treble.
Argo extends adds marine cargo to its portfolio
Argo International, a specialist Lloyd’s insurer and subsidiary of Argo Group International Holdings, has extended its platform with the addition of marine cargo to its portfolio.
CFC partners with Crawford
Specialist lines underwriting agency, CFC, has appointed Crawford & Company as its strategic partner to deliver a claims administration interface for its brokers and their clients.