News
Zurich to cut general insurance workforce by up to 900
Zurich has announced that up to 900 people could be made redundant as part of a “significant re-shaping of the company”, putting one sixth of the insurer’s UK general insurance workforce at risk.
Axa expands protection large case team
Axa has expanded its large case team for protection products.
Jelf annouces strong performance and continued growth
Jelf Group has annoucnes a 49% growth in revenue to £25.0m (2007: £16.8m) in its interim results for the six months ended 31 March 2008.
Take PPI away from credit providers says British Insurance
The Competition Commission’s latest Report recommending measures to prevent consumers being ripped off by lenders selling Payment Protection Insurance is lightweight and will not protect against exploitation, said Simon Burgess from independent PPI…
PPI/CC news is 'unreal' and 'absurd' says law firm
Simon Morris, a partner with CMS Cameron McKenna, said of the PPI/Competition Commission news: “This is unreal. The Competition Commission suggestion that firms be banned from selling PPI (Payment Protection Insurance) to customers to protect their loans…
High Court finds in favour of insurance companies QBE and Markel
The High Court today found in favour of QBE, Amalfi Underwriting Underwriting Limited and Markel in a joint fraud action those companies brought against former directors and managers/associates of Surety Guarantee Consultants Limited (SGC). Davies Arnold…
Ex-NU director joins MMA and sets out ambitious strategy
One of Norwich Union’s former directors, John Seaton, has been appointed as underwriting director at intermediary only insurer, MMA Insurance (MMA).
'You reap what you sow' say moneysupermarket.com on CC proposals
Commenting on the Competition Commission's findings into PPI, Stuart Glendinning, managing director of price comparison site, moneysupermarket.com, said: “You reap what you sow. The prospect of preventing lenders selling PPI at the point of sale is an…
Brit Insurance ratings confirmed by Fitch
Brit Insurance Holdings has welcomed the decision by Fitch Ratings to confirm the “A+” Insurer Financial Strength rating for the Group’s principle insurance company subsidiary, Brit Insurance. In affirming the rating, Fitch acknowledges the company’s…
Heath Lambert extends national division
Heath Lambert has extended its national division to include existing London-based speciality retail units in addition to its branch network.
Snowball insists Cullum and Homer could run listed Towergate
Outgoing Towergate deputy chairman Patrick Snowball has said he could return to the Towergate board in the future, but that his immediate future lies elsewhere in the general insurance space.
Brits underestimating home contents insurance, says Legal & General
Legal & General recently surveyed over 4,000 people as part of the Changing Face of British Homes research which revealed that 15% of Brits have no idea how much it would cost to replace the contents of their home.
Travel insurers discriminate against 15% of UK population says Karma Insurance
Travel insurers are openly discriminating against the 9 million UK sufferers of Diabetes, Epilepsy, Asthma, Multiple Sclerosis, Parkinson’s, Motor Neurone and Dementia, claims Brian Wright, Managing Director of karmainsurance.com
Brightside Group acquires Group Direct and Injury QED
In a statement issued to the London Stock Exchange Brightside Group has acquired Group Direct and its associated companies, and Injury QED.
RBSI confirms another senior departure
Royal Bank of Scotland has confirmed that Michael Rea has left his role as director of NIG.
Big companies bury heads in sand over stress, says report
Stress continues to torment companies according to the Employee Benefits/ HSA Healthcare Research 2008. The survey has found that although stress remains a key issue for all employers, it appears to be especially concerning for large companies, and those…
Kwik Fit named cheapest car insurer by aggregator
Kwik Fit Insurance has been named as the most consistently competitive car insurance provider by a leading price comparison web site.
QBE builds property division with another appointment
QBE has appointed Bernard Mageean as managing director of its property division, after an active recruitment campaign for specialist commercial property underwriters both in the UK and Europe in order to significantly enhance its property offering.
THB plans for further growth with office expansion
Specialist insurance broker THB, has unveiled more than 16 000 square feet of additional office space at its London base in Leadenhall Street.
Europ Assistance survey reveals European holiday trends
According to the research British travellers spend more money on holidays, holiday more often, use the Internet more for booking their next holiday, and are the least worried about the risk of terrorism. Findings include:
Fraud prevention low priority for Private UK firms
Just 37% of private UK companies employ specialists to detect fraud, compared with a global average of 45% and 59%in the US, according to new research released as part of Grant Thornton's annual International Business Report.
Towergate annual results reveal £2.1bn GWP
The Towergate Family – including TPL, Broker Network, Paymentshield and Open International – has reported total sales (gross written premium) of £2.1bn, income of £394m and EBITDA of £166m on a pro forma basis for the 12 months leading to 31 December…
Snowball relinquishes Towergate non executive role
Towergate has announced that Patrick Snowball has decided to step down from the Board of Towergate Partnership (“TPL”). However, he will remain chairman of Towergate Financial Services (“TFS”) where he will also retain a shareholding ( Snowball explains…
Appointment at Mills Insurance Services
Miller Insurance Services has hired Nick Lyons as its chairman. Lyons will be the first non-executiv...