News
Mesothelioma trigger litigation judgment handed down
The long awaited judgment in the mesothelioma trigger litigation has been handed down by Mr Justice Burton.
Insurance agents banned for illegal trading
Stephen Fryett and Richard Baines have been banned by the Financial Services Authority from performing regulated financial services roles.
Brightside acquires eVan book
E Insurance, a subsidiary of Brightside, has agreed to purchase the policy book and the new business and renewal rights of the eVan insurance brand from Southern Rock Insurance. The transaction is expected to be completed on 1 December 2008.
Insurance Age on-air news review
Martin Friel rounds up the main broker stories this week including: Giles sees another director leave following private equity investment; Arista makes further push into the regions with Midlands office; and RSA announces restructure.
MMA creates new head of personal lines underwriting role
Broker-only insurer, MMA Insurance (MMA), has appointed Martin Scarrett to the newly created role of head of personal lines underwriting.
ABI slams point of sale PPI ban
The Association of British Insurers (ABI) says the Competition Commission's proposal to stop point of sale payment protection insurance selling is "devastating news for borrowers".
Zurich operating profit drops 15%
Zurich Financial Services has said all its core business areas are delivering solid operating performances despite the impact of "particularly adverse circumstances" in the third quarter.
Cass Business School and CII Group drive professionalism with MSc graduates
The CII Group and Cass Business School have joined forces to promote professionalism for MSc graduates by offering membership of the insurance professional body for one year.
JLT says on track to deliver 'sustainable profitable growth' in 2008
Jardine Lloyd Thompson, the UK (re)insurance broker, said it remains on track to deliver sustainable profitable growth in 2008, despite the current circumstances of unprecedented dislocation and uncertainty in the financial sector worldwide.
Fitch affirms AIG’s ratings
Fitch has affirmed American International Group’s (AIG) ratings at ‘A’ for its long-term issuer default rating (IDR) and also for its senior unsecured securities. It also removed the insurer from Rating Watch Evolving.
Arista in further regional expansion
Arista has made a further push into the regions with the establishment of a new presence in the Midlands.
Norwich Union pays £58m in critical illness claims
Norwich Union paid out more than £58m to policyholders who claimed on their critical illness policies in the first half of 2008. This compared with £52m paid during the same period the previous year.
Cooper Gay acquires Benfield team
Cooper Gay has acquired of Benfield’s London-based aerospace team for an undisclosed sum.
Insurance Age weekly roundup
This week’s review includes: Towergate comes to an agreement with over banking covenants; Zurich tops satisfaction survey; and a roundup of the week’s consolidation news.
Marsh focuses on trade credit risks
Marsh has launched a Trade Credit Helpline to help UK businesses address issues related to credit risk.
Insurance Charities launches new website
The charity for the UK and Republic of Ireland’s insurance industry has launched a new website designed to raise awareness of its work and to provide an informative site for both beneficiaries and potential donors to use.
MMA appoints head of distribution
MMA Insurance has appointed of Ian Josephs to the newly created role of head of distribution, in a move that recognises the key challenge in today’s market to be the securing of profitable distribution.
Beazley completes acquisition of Momentum Underwriting Management
Beazley Group has completed its acquisition of the entire existing share capital of Momentum Underwriting Management following approval from Lloyd’s and the Financial Services Authority.
Insurancewide re-launches site
insurancewide.com has re-launched its website for insurance-seekers.
Willis’ network of independent brokers expands
Willis Group Holdings has announced that 10 new members have joined the Willis Commercial Network, its partnership with local, independent insurance brokers in the UK.
Biba and Ace team up for travel scheme
The British Insurance Brokers’ Association (BIBA) has launched the Biba Group Personal Accident & Business Travel scheme in partnership with ACE European Group.
Bankstone launch new motor accident management operation
Insurance claims management firm Bankstone has brought in two high-profile figures from the motor accident management world to launch a new company Bankstone Advantage, with the specific aim of satisfying clients who demand a high standard of service…