Latest News – Page 1898
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New ‘green’ energy insurer
A new underwriting operation is targeting the increased appetite for all things green by tackling the renewable energy market.GCube Underwriting and GCube Underwriting Services will globally underwrite any renewable initiative up to £600m for a single project on or offshore.GCube said this would make it the largest provider of renewable ...
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Stockwatch
Brit was tipped as a key stock purchase by analysts Numis and KBC Peel Hunt this week.The insurer’s share price has experienced hard times of late, suffering a sharp fall following the release of its third quarter results at the end of last year – despite receiving a favourable reception ...
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Groupama loses key manager
Groupama UK business development manager Derek Findlayson is to join Ignition NBS, the AXA-owned marketing consultancy.Findlayson, who joined Groupama in 2005, will be sales and distribution director at Ignition.Groupama distribution and customer service director Cathie Bruce said the insurer had yet to decide whether Findlayson would be replaced.Ignition chief executive ...
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Towergate to begin £1bn refinancing operation
Towergate is to undego a refinancing operation that could see the company’s ex-isting debts consolidated into a package worth over £1bn.It will be the third time the company has refinanced since the merger of Towergate Underwriting and Folgate in November 2005, and follows comments made by group chief executive Andy ...
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Purple to exceed £40m yearly target in first month
Start-up network the Purple Partnership is set to achieve its year one business targets in its first month of trading.The South West based network, a collaboration of broker Jelf and former Westinsure managing director Bob Parkins, said this week it had 10 confirmed members, with a further 10 at various ...
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Oval starts acquisition trail in East Anglia
Oval has made the first of four slated buys in early 2008 with the acquisition of East-Anglian broker, A J Cook, known as Cook Sheppard Pinhey.Ipswich-based Cook Sheppard Pinhey, which has an annual GWP of around £17m and employs over 50 staff, is Oval's first buy in the region.In November ...
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Regulators plan database to target global fraudsters
Plans are underway to launch an international fraud database that would allow insurers to target insurance fraudsters on a global scale.The initiative, spearheaded by the International Association of Insurance Supervisors (IAIS) which includes members – including the FSA – from 140 different countries, has been given high priority and is ...
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New Marsh departure adds to broker’s woes
Marsh has been hit by news of a string of further senior departures this week, as the company unveiled a major global restructure.It has emerged that the head of UK placement Chris Tabbitt has left the broking giant with the last few weeks.Marsh was also dealt a blow with the ...
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Brokers failing to carry out e-reforms
London market brokers support change but fail to act, says report
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FeaturesAvoid Digital Disaster
Cyber-crime is increasing rapidly, but UK companies are not equipped to protect their data
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Deloitte warns of household losses in 2008
Competition seen as threat to profitability after 2007 flooding losses
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Insurecom pledges to be No 1 for imarket products
Insurecom will become the leading software house for imarket products within the next six months, Phillip Walter, the company’s chief executive has pledged. This comes amid an investigation by Insurance Times into brokers’ concerns regarding imarket which included complaints that not enough software houses were fully onboard with the online ...
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Brokers warned of legal action over cyber cover
Clients could sue under errors and omissions clauses
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Howden to build medical malpractice team
Howden, the Lloyd’s broker specialising in business critical insurance, is building a team in London to extend its international reach and capabilities in medical malpractice.The company will provide both wholesale and retail services through Howden’s international offices.Virginio Mercurio will lead the team as director. He joins the London office from ...
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Ex-AA chief goes to iprism
Kevin Sinclair rejects numerous offers in favour of fledgling agency
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Online onlyPolice seized 150,000 uninsured vehicles in 2007
MIB calls its crackdown campaign on uninsured driving a success
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Online onlyNFU Mutual to return 10% of premiums to policyholders
Renewing customers could get up to £100 back despite summer flooding
