HSBC
‘Massive blow’ for UK insurtechs averted as key bank is rescued
The Financial Conduct Authority has moved to reassure customers of their rights following the rescue of Silicon Valley Bank.
CFC adds ex-HSBC Insurance chief to board
CFC has appointed former HSBC Insurance Brokers CEO Philip Gregory to its board as non-executive director.
Broker Network goes to Keychoice for new insurer director
Broker Network and Countrywide has appointed Dene Smith as insurer director.
Towergate unveils new board member
Towergate Insurance has appointed Dr Teresa Robson-Capps to its board as independent non-executive director.
Sutton Winson nabs Towergate man for commercial role
Sutton Winson has appointed Steve Barber as commercial client account executive.
Markel strengthens professional liability team
Markel International has appointed Les Telford as senior underwriter for UK and international professional indemnity in the professional liability division.
Marsh sells part of HSBC business to R K Harrison
R K Harrison has acquired a portfolio of four businesses from Marsh UK.
Direct Line could raise £500m ahead of flotation
Direct Line, the newly rebranded insurance arm of RBS, plans to raise £500m through selling debt, according to the Telegraph.
FOS reveals PPI complaints halved in H2 2011
The Financial Ombudsman Service (FOS) received a total of 106,193 complaints between 1 July and 31 December 2011, and figures show that Barclays Bank was by far the biggest culprit in terms of payment protection insurance (PPI) complaints.
Axa, Allianz and QBE in the frame for HSBC
Allianz and Axa are among the potential bidders for HSBC’s general insurance business, according to reports.
Broker Expo South: Brokers learn about diversification
Delegates at Insurance Age’s inaugural Broker Expo South heard from Roger Oldham, managing director of Amethyst Business Consulting, as he explained the opportunities and dangers to brokers looking to expand their businesses through diversification.
HSBC in insurance sell-off
HSBC is to sell its general insurance business as part of the bank’s plan to strip away non-core units.
HSBC to miss PPI deadline
HSBC has confirmed it will miss the deadline imposed by the Financial Services Authority (FSA) to deal with the backlog of Payment Protection Insurance (PPI) complaints by 31 August 2011.
PPI complaints against banks continue to rise
Payment protection insurance (PPI) complaints at Barclays and Lloyds Banking Group rose by up to 30% in the first half of this year compared to the previous six months and may yet rise further.
HSBC Insurance (UK) sold for £68.5m
HSBC Insurance Services Holdings has agreed to sell HSBC Insurance (UK) to Syndicate Holding for £68.5m in cash.
HSBC gets extension to PPI complaints procedure
The Financial Services Authority (FSA) has confirmed that it has agreed to temporary arrangements for HSBC to handle payment protection insurance (PPI) complaints.
Kane Group completes HSBC purchase
The Kane Group has completed the acquisition of the insurance management operations of HSBC.
Provident deal receives cautious welcome from brokers
MMA’s acquisition of Provident has been welcomed by brokers, but concern has been voiced over how the merger could impact on the variety of products available.
Personal lines exits highlight need to avoid reliance on single insurer
Reduced insurer appetite in the personal lines market should serve as a timely reminder to brokers to avoid the pitfalls of placing all their eggs in one basket.
Banks commit to 15% increase in lending to SMEs
The Government has welcomed a commitment by the UK's biggest banks on lending expectations and capacity which will focus on small to medium-sized enterprises (SME).
Fusion and NFU Mutual go against grain with jobs drive
Insurance recruitment drives at Fusion and NFU Mutual have bucked the trend of rising unemployment in the wider economy.