Broker News – Page 209
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NewsBrokers enjoy boost in business volumes and confidence in Q2
But investment in technology will continue to put pressure on profitability, PwC/CBI survey finds
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NewsWillis Networks in talks with smaller members over remuneration
Move follows changes that Willis Networks introduced for larger WCN members last July
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NewsJailed ghost broker ordered to repay £658k to victims
Danyal Buckharee conned 600 people into buying fake car insurance
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NewsTowergate made £804m loss in 2014 after £553m goodwill write-down
Results also hit by 146% jump in operating costs
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NewsTowergate paid £16.7m for Arista
Broker also received £1.9m in proceeds for the sale of Folgate
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NewsETV and client money probes cost Towergate £1.1m in Q1
Exceptional costs pushed broker to £33.5m pre-tax loss in quarter
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NewsJanice Deakin to head up Towergate’s recombined retail division
Deakin will join the group as broking director on 12 August
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NewsTowergate underlying profit halves in first quarter
But chief executive Scott Egan insists the company is over the worst and does not plan further cost cuts
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NewsBluefin appoints interim finance chief following Philip departure
Broker to replace chief operating officer role with chief financial officer position
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NewsHiscox to buy Willis’s UK classic car broker
RH Specialty Insurance will keep its brand and team
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NewsClear Insurance Management profits fall 7%
But chief executive Howard Lickens expects recent acquisitions to contribute to growth in 2016
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NewsSwinton operations head Kelly Ogley to leave
Chief executive Gilles Normand will assume her responsibilities in the interim
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NewsGallagher/Ross trial pushed back to February 2016
Court battle to coincide with Ross starting new job at Towergate
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NewsSaffron reports sixfold rise in profits
Growth reflects increase in income and a managed reduction in overheads following a review in 2013
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NewsFCA rebuffs criticism about cost of regulation
FCA confirms that proposed 8.5% fee increase on brokers and insurers will take effect
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NewsSaga gets FCA approval for Bennetts purchase
Company says it is on track to launch motor insurer panel in the summer
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NewsPersonal injury makes up half of insurers' claims costs
By contrast in Germany Allianz estimates that just 4% of claims costs are the result of personal injury
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NewsAirmic 2015: Insurance Act will mean more work for everyone
Willis Group deputy chief exec Steve Hearn stressed the act would create greater clarity around buying insurance
