Financial Ratings – Page 96
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NewsMoneysupermarket insurance revenue slides 10% in fourth quarter
Aggregator chooses to maintain margins in face of effects of technology change and stronger competitor marketing
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NewsACE expects Chubb takeover to be completed today
Transaction has received all necessary regulatory clearances
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NewsRomero profits up 68.3%
Broker’s group commission and fee income also increased by 21.3% to £9.3m
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NewsHyperion could make loss for next two years on RKH costs
But chief executive David Howden says statutory accounts do not paint true picture of performance
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NewsAcquisition and finance costs push Hyperion to £81.4m loss
But underlying profit rose 31% to £56.7m in year to 30 September 2015
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NewsRSA settles €1.25m dismissal dispute with former Ireland boss
Insurer had appealed Philip Smith’s employment tribunal victory
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NewsMotor broker Right Choice buys ERS breakdown units
ERS will continue to underwrite units’ breakdown products under a long-term agreement
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NewsXchanging urges shareholders to accept CSC offer as deadline looms
CSC needs acceptances from 75% of shareholders by Friday
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NewsPrincipal buys Simply Insurance bike book
Simply book will add 500 more bike policies to 5,000 secured through Principal’s recent purchase of iGO4’s BikeTeam
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NewsAston Scott makes first acquisition of 2016
Essex-based First Commercial Insurance Brokers specialises in renovation projects, commercial and private client insurance
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NewsAIG to present strategic vision on 26 January
Chief executive Peter Hancock will provide plan to drive shareholder value
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NewsFormer Quindell sells units for nominal £1
Watchstone disposes of property and maintenance services businesses to management
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NewsSolvency II is changing reinsurance buying – Guy Carpenter
Reinsurance broker detected a shift to proportional reinsurance at 1 January
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NewsReinsurers get more comfortable with UK motor as PPOs fall
Reinsurers were more willing to offer less restrictive cover at 1 January renewals, says Guy Carpenter
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NewsHigh Court approves Sterling integration into Covéa
With written premiums approaching £600 million, the combined business employs almost 1,400 people
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NewsLaw firm Parabis pays £7m to insurers to settle ABS debts
DLG will also become sole owner of its ABS while RSA will enter into joint venture with Carpenters
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NewsUK storms will significantly weaken 2015 household insurer earnings – Fitch
Ratings agency also warns that failure to keep up flood defence spending could lead to higher-than-expected claims for the UK’s Flood Re scheme
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NewsPrincipal buys iGO4's motorcycle book
The sale will leave iGO4 to concentrate on its core businesses; private motor, van and home insurance
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NewsReinsurance rate falls slowed at January 1 – Guy Carpenter
Property catastrophe reinsurance prices fell by between 7% and 10%
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NewsStorms' effect on property insurer profits 'only moderate'
Storms will slow down decline in premiums, but not reverse it, says AM Best
