Broker News – Page 164
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NewsFCA in u-turn over client money rules
FCA abandons changes to client money rules following industry feedback
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NewsHyperion announces ‘significant’ new shareholder
Broking group Hyperion gets new investment as part of partnership
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NewsNew roles for Carslaw and Blanc in Aston Scott reshuffle
Company rejigs top team as it guns for more growth
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NewsInperio and Ark launch terror cover for brokers outside London
Inperio and Ark outline terrorism product as alternative to Pool Re
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NewsUK drives Willis Towers Watson retail broking organic growth
Group’s retail broking profit rises in first half
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NewsPolitical risk insurance demand to rise - KPMG report says
Strong growth fuelled by need for business interruption cover
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NewsGRP buys commercial and personal broker BB Insure
Broker’s management team will continue to lead the business
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NewsAnalysis: High admin fees, hidden profits, no transparency - why brokers playing the short game won't win
Put your customers’ interests first, not your own, or lose out. This was a core message of the inaugural Insurance Times Insuring SMEs event in mid-June. Marsh UK and Ireland chief executive Mark Weil set the tone for the day. He hit out at broker consolidators ...
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NewsLosing passporting will be ‘administrative nightmare’ says Biba
Biba outlines brokers’ key challenges as UK makes moves to exit the EU
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NewsAon broking profit rises 16% in first half
Aon’s broking division made an operating profit of $802m (£608m) in the first half of 2016, up 16% on the £691m it made in the same period last year. Revenue at the division, Risk Solutions, was flat at $3.7bn, but the profit was boosted by a ...
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NewsMarsh parent’s broking profit rises 7% in first half
The broking division of Marsh & McLennan Companies (MMC) made an operating profit of $1.03bn (£781m) in the first half of 2016, up 7% on the $960m it made in the same period last year. The division, which comprises insurance broker Marsh and reinsurance broker Guy ...
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NewsStorms drive up Lloyds Bank general insurance COR by 16 points
Lloyds Banking Group’s general insurance business experienced a 16 percentage point deterioration to 89% in its combined operating ratio (COR) in the first half of 2016 (2015: 73%), partly driven by adverse weather in the first half of 2016. The bank said it helped more than ...
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NewsEnterprise's liabilities could exceed assets by up to £18m - reports
The liabilities of failed Gibraltar insurer Enterprise could exceed its assets by as much as £18m, according to reports. The Gibraltar Financial Services Commission (FSC) last week ordered Enterprise to stop writing new business after the company admitted to being insolvent. The Supreme Court has now ...
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NewsJLT reveals deeper-than-expected job cuts at UK EB unit
JLT announced today that it has cut more than 300 jobs at its UK and Ireland employee benefits (EB) unit during its restructuring. When it revealed the restructuring in March, the broking group said that the restructuring would result in a cut of around 10% of ...
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NewsJLT reports 46% profit drop and 1% organic growth for first half
Broking group Jardine Lloyd Thompson (JLT) made a profit before tax of £55.2m in the first half of 2016, down 46% on the £101.5m it reported in the same period last year. The main cause of the drop was one-off costs of £34m. These included £10.2m ...
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NewsERS swoops to rescue Enterprise Insurance's fleet customers
ERS has come to the rescue of policyholders whose insurance policies where underwritten by collapsed insurer Enterprise through the MGA Andeva. In a statement today ERS said it had “stepped up to support brokers” following the news that the Gibraltar Financial Services Commission (GFSC) last Friday ...
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Online onlyFSCS in talks with Enterprise's regulator over customer impact
The Financial Services Compensation Scheme (FSCS) is in discussions with the Gibraltar Financial Services Commission (FSC) over what the failure of Enterprise Insurance means for UK policyholders. The FSCS has also said it expects to work Enterprise’s provisional liquidator once one has been appointed. Last Friday ...
