Financial Ratings – Page 123
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NewsLV= 2014 GWP shrinks as motor income drops by 10%
But total in-force policies grow by 4% to £4.6m in ‘challenging year’
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NewsTowergate chairman defends takeover deal structure
Alastair Lyons to leave broking group this year after hiring new chief executive
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NewsTowergate faces £85m compensation bill for mis-selling financial products
Broker could recover £12m of the compensation payments from insurers
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NewsTowergate profit drops 24% in 2014
Revenue falls 4% as deals delayed by uncertainty surrounding troubled broker
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NewsSecured creditors win control of Towergate
Deal will cut debt by more than 60% and provide £75m of new funding
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NewsGeneral insurers best-placed to benefit from growing UK economy
But EY forecasting group warns that competition and overcapacity will put pressure on rates
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NewsS&P extends negative watch on DAS UK as probe overruns
Rating agency could downgrade insurer in next 90 days
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NewsClark Thomson buys Willis's Scottish SME unit and joins network
Acquisition set to complete in April 2015
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NewsMarkerstudy’s acquired broking firms break even after Capita loss
Growth has been driven by improving systems and strengthening insurer panel
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NewsJelf founder’s total pay fell 26% in 2014
But broker’s other executive directors enjoyed double-digit pay rises after good year
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Online onlyEx-Giles boss McManus to lead private equity bid for $300m Chaucer motor book – reports
Towergate bidders Apollo leading the race to acquire Chaucer’s motor book
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NewsTEn planning to target established brokers as well as start-ups
Network expecting more modest 20% GWP growth this year after 24.5% uplift in 2014
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NewsAxis Capital merges with PartnerRe to create $11bn reinsurer
The new company will be among the world’s five largest reinsurers
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NewsGreen Insurance profits dip after withdrawal from unprofitable businesses
But withdrawal and integration of resources and systems helps acquisitive broker’s EBITDAE to improve
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NewsQuindell latest: Australian law firm wants outsourcer's personal injury case files
Slater & Gordon confirms offer for personal injury files, but says talks for larger unit are at an early stage
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Online onlyRSA's share price rises as turnaround efforts are praised
Analyst says the rebuilding of RSA is a similar story to Direct Line Group’s
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NewsQuindell confirms it is in talks to sell unit to Australian law firm
Slater & Gordon has a growing presence in UK consumer law market
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NewsMiles Smith eyes acquisitions with new Clydesdale banking facility
Lloyd’s broker says new finance will allow it to pursue growth plans
