News
Insurance secured for construction of World Trade Center
World Trade Center (WTC) developer Larry Silverstein today announced the placement of the workers’ compensation, general liability, excess liability, and specialty insurance with a host of insurers including AIG, Beazley and Ace, for the construction of…
QBE sees European business GWP slightly reduce
QBE Europe saw gross written premium reduced by 4% to Aus $5137m (£2421m) and gross earned premium reduced by 1% to Aus $5158m in 2007.
Towergate acquires Leicester-based broker
Towergate Partnership has acquired T F Bell Group. Under the deal, all 57 staff and directors have made the move to Towergate. The team will continue to be led by chief executive officer, Stephen Hough based at two sites in Hinckley, Leicestershire.
Car insurance premiums on the increase
The average car insurance premium has increased by 5.24% in the last year, according to the latest Sainsbury’s Car Insurance Index.
Towergate to sell minority stake to private equity firm, according to reports
Towergate founder Peter Cullum is in talks to sell a 25% stake in his business to a private-equity group in a deal that will value his company at more than £3bn, according to reports.
Open GI creates new team to advise on ‘best fit solutions’
Open GI has created a new Solutions Consultancy and Educational Services team to provide a more proactive approach to the broker-software provider relationship.
PPI industry set for massive upheaval, says Defaqto
Defaqto’s latest report, “Payment Protection Insurance – 2008 – The party’s over ” has predicted that over the next two years there will be a massive upheaval in the industry as lenders, underwriters and consumers are forced to adjust to consequences…
New Thatcham chairman appointed
Bill Paton, chief claims officer, at Zurich Financial Services, has been appointed chairman of Thatcham.
New VP board announced
Stuart Reid has unveiled the management board for Venture Preference (VP) following his appointment as sole chief executive of the Axa-owned broker subsidiary a month ago.
Competence of young drivers called into question
Crashes and insurance claims among young drivers are a bigger risk than ever for companies, according to Norwich Union (NU).
Home & Legacy expansion plan may result in staff losses
Home & Legacy has announced plans to move its operations team to new premises as part of an ongoing expansion programme.
Groupama 'content to sacrifice volume' to continue strong profitability
Groupama has reported strong profitability in its annual results for 2007.
Private equity company in line to buy broker
Giles Insurance Brokers is understood to have been acquired by a private equity company, Insurance Age has learned.
Dixons.co.uk partners Call Connection
Call Connection, the specialist call-transfer business to the insurance industry, have partnered DSG international (DSGi) to launch comparemoreatDixons.co.uk, a UK price comparison site for Dixons.co.uk, the UK’s largest online electrical retailer.
Cunningham Lindsey establishes claims management faciltiy in Leeds
Cunningham Lindsey UK’s specialist liability practice, Liability Services, is opening a new, desk-based liability claims management facility in Leeds, headed up by Bob Allen, who recently joined the business from Garwyn.
Household insurers’ losses exceed £300m for 2007
According to a new report by independent market analyst Datamonitor, household insurers suffered an estimated loss of over £300m in 2007 due to the severe flooding experienced in the summer. However, the market is forecast to return to a profitable state…
Ecclesiastical latest insurer to join broker-owning ranks
Ecclesiastical has become the latest insurer to jump on the ‘buy-a-broker’ bandwagon with the purchase of equine specialists, South Essex Insurance Brokers (SEIB), for an undisclosed sum.
Swinton employs new routing solution
Swinton Insurance has deployed Alcatel-Lucent’s IP telephony solutions across 450 sites in a bid to increase successful sales calls and increase the standard of customer service.
DAS division expands its after-the-event offering
80e, the ATE trading division of DAS, has enhanced its product range with the addition of new Personal and Business Litigation policies.
Scottish broker moves to £3m HQ
Scottish broker, Central Insurance Service, has opened a new £3m headquarters in Aberdeen.
New LBBS members add £11m GWP
Broker network Layton Blackham Business Solutions (LBBS) has signed-up 10 new members including a number of start-ups since announcing its growth plans in November.
New IIB chief executive appointed
The board of the Institute of Insurance Brokers has announced the appointment of Barbara Bradshaw as its new chief executive following the sudden death of Andrew Paddick.
Zurich results reveal high combined ratio
Zurich UK has announced an operating profit of £91m and gross written premium (GWP) of £2,060m in its 2007 results.
European insurers expect modest cost for Solvency II compliance
More than three-quarters of large European insurers expect to spend less than £18m through 2012 on Solvency II compliance, with more than half of those expecting to spend less than £3m, according to results of a survey released today by Accenture…