Latest News – Page 2014
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News
Global insurers unite to tackle climate change
International insurance chiefs formulate strategy to pressure governments over climate threat
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News
AXA hit by protests
AXA’s investment arm was picketed by animal rights protesters this week as part of a campaign against investment in animal testing firm Huntingdon Life Sciences (HLS).AXA Investment, which manages surplus funds from the insurer’s UK business, is a major investor in the New York Stock Exchange (NYSE), where shares in ...
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News
IFB seeks to expand as fraud scams cut by a third
Investigations and arrests lead to saving of £15m in first year of operation
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News
Founding member of Westinsure Group to quit
A founding member of Westinsure Group is to leave the broker alliance amid claims that the group does not adequately support larger brokers. PSP Westinsure, which controls premium of £6m, will sell its 26% stake to other members by the end of 2007.PSP chairman Terry Parkins said the decision was ...
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News
Erinaceous loses top two directors
Two directors at Erinaceous Insurance Services are defecting to Towergate and its sister company CCV. Managing director, Andy Halstead, and director of insurance and underwriting, Nick Crocker, will take up roles at Towergate Financial Services and CCV. This development comes amid speculation that HBOS has tabled a bid for ...
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News
Members’ agents criticised over failed Names buy-out
Tension is mounting between Lloyd’s insurers and members’ agents over QBE’s failed attempt to buy-out the remaining Names in its specialist liability Syndicate 386.QBE was forced to withdraw an offer when investors rejected what was regarded as “the highest ever, offered within a Lloyd’s capacity”.Under Lloyd’s rules, the insurer was ...
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News
Chinese insurers given green light to invest in UK
Decision by Chinese regulator raises limit for overseas investment
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News
Insurers suffer as debt fears hit market
UK insurance shares took a tumble during last week’s stock market slide, but proved themselves more resilient than most. Shares prices fell worldwide last Thursday as markets recoiled at the prospect of massive amounts of debts going unpaid and credit being squeezed. The London stock market fell more than 3% ...
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News
Atrium brushes off downgrade threat
Atrium has shrugged off the potential threat of being downgraded by ratings agency Moody’s Investor Service.Moody’s has placed Atrium’s Syndicate 609 under review in light of the company’s proposed merger with Bermuda reinsurer Ariel, and the news that its lead underwriter, Christine Dandridge, will be retiring.The ratings agency said although ...
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Cobra float fails to hit £10m funds target
Network’s AIM listing raises only £1m, but acquisitions continue with £7m partner loan
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News
Web news…
UK Facilities launchNational wholesale insurance broker, UK Facilities, widened its offering with the introduction of UKFOnline, a commercial comparative online website. First published on 27 JulyOval non-execOval appointed Andrew Brown as a non-executive director. Brown, who was formerly joint chief executive of Gartmore Investment Man-agement, has been appointed to chair ...
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News
Fortis targets Scotland with broker team expansion
Fortis is set to increase the size of its broker support team by 50% over the coming months in a bid to expand its agency base and grow its business in Scotland. In a reorganisation of its sales force, Fortis has created 12 districts throughout the UK, each with a ...
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News
Insurance women seek industry support
The Women’s Insurance Net-work (Twin) has called on the insurance industry to support the first organisation designed to support and encourage women in the sector.Twin, established by executive search firm, ejsSearch, is looking to insurers, brokers, trade associations and Lloyd’s to help tackle the issue of professional development of women ...
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News
Web news…
Moorhouse praises portalWelsh broker Moorhouse claimed its Xbroker is now the most widely used portal among UK brokers. Moorhouse boss Lyndon Wood said Xbroker had 3,800 brokers signed up and that it would attract 30,000 new policy-holders in the next year. He said the portal was getting 6,500 commercial quotations ...
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News
Brownsword ‘spy’ move
David Brownsword, whose company pioneered the use of lie detector technology in the insurance sector, is believed to be joining insurance surveillance company Mike India 5. Brownsword is thought to be spearheading Mike India Five’s move into fraud detection services. He is believed to be joining the company in January ...
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Backchat
Top down, pants off
What we wear says a lot about our personality and our mood, according to a leading UK psychologist, and likewise what we drive expresses how we want to be seen by others.It shouldn’t come as any surprise to Backchat readers to learn then that what we drive also reveals a ...
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Backchat
Is Tiner a Facebook friend?
Ever keen to win influential friends, Backchat was keen to make contact with former FSA boss John Tiner through his Facebook entry. Tiner, who has only one friend on the web-based community site, FSA chairman Callum McCarthy, was not keen to respond to Backchat’s advances. Given the typical Facebook user ...
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Backchat
HSBC rapped for fox hunt cover
An animal rights group has criticised Britain’s biggest bank HSBC for insuring people prosecuted for illegally hunting foxes.Under the arrangement HSBC will pay, perfectly legally, the legal fees for hunters taken to court for breaking the 2005 hunting ban.The chairman of the League Against Cruel Sports asked: “What next – ...
