Latest News – Page 753
-
NewsCorrection: Esure and Admiral
The executive pay article in the May 2016 edition of Insurance Times (pages 8 and 9) contained a number of factual errors about Esure and Admiral. The article incorrectly stated both the figures for the remuneration for the Esure CEO and Admiral CEO. Additionally it gave ...
-
NewsBarbican hires Towergate underwriter Roberts
Barbican Protect, the UK insurance arm of Barbican Insurance Group, said it has hired Alexandra Roberts (pictured) as a development underwriter, financial lines. Roberts joins Barbican Protect from Towergate Professional Indemnity where she was a senior account handler, working across a broad spectrum of professional sectors. ...
-
NewsHiscox group GWP up 10.3% in six months; UK GWP up 5.8%
Hiscox saw group gross written premiums rise 10.3% to £640.5m in the six months to March, up from £561.7m a year earlier. Hiscox UK GWP rose 5.8% to £110.5m from £103.5m a year earlier, which the company described as “a strong result in a challenging market”. ...
-
NewsCovéa and AIG are brokers’ favourite in e-trade survey
Allianz performs well, along with ACE and Aviva. Zurich bottom of table.
-
NewsCarole Nash to buy Ageas Retail’s motorbike business
Specialist motorbike broker Carole Nash has agreed to buy Ageas Retail’s motorcycle insurance books of business for an undisclosed sum. The books comprise around 20,000 policies, accounting for roughly 1% of the insured vehicles in the UK motorcycle market. This adds to the 25% share of insured ...
-
NewsFCA fines and bans brokers over £150,253 client money blunder
The FCA has banned former insurance brokers Terence Joint and Vroni O’Brien for failings in relation to the handling and misuse of client money. Key points: Broker Joint Aviation directors fined £30,000 Joint Aviation owed £150,253 to insurers Broker transferred client money ...
-
NewsRSA claims handler jailed for £55,000 fraud
A former RSA employee has been jailed for 10 months for illegally passing on customer details to a law firm and adding friends and family to genuine claims in a £55,000 fraud. Anthony Francis Joseph Rattigan, 30, an insurance claim handler from Liverpool was convicted of ...
-
NewsAsh Bathia’s Lloyd’s insurer hires casualty underwriting head
Ash Bathia’s Lloyd’s syndicate, Probitas 1492, has hired Neila Buurman as chief underwriting officer for its casualty division. Buurman was previously director of international casualty at QBE, Bathia’s former employer. She joined QBE in 2000 as an international liability underwriter. Bathia was chief underwriting officer of ...
-
NewsBroker Network extends partnership with RSA
Broker Network has signed a new three-year deal with insurer RSA, extending the two firms’ current partnership. Under the new deal, RSA will offer exclusive personal lines products to Broker Network members, in addition to new commercial lines products. The first launch under the new deal ...
-
NewsTowergate staff in £30m incentive scheme deal
Towergate has entered its staff into an incentive scheme worth more than £30m. One part of the scheme is worth £30.4m and Towergate has already made two payments to staff, with a final tranche due later this year, The Telegraph reports. Under Towergate’s old reward scheme ...
-
NewsAXA unveils broker tool to tackle underinsurance in mid-market
AXA has launched an online tool to help brokers calculate the business interruption risk for individual commercial clients. Tool will help firm tackled underinsurance in mid-market AXA BI calculator is web-based tool that assesses a businesses’ BI exposure Tool intended to support prompt claim settlement The ...
-
NewsCPP hires new chief executive after boardroom coup
Credit card insurer CPP has hired Jason Walsh as its new chief executive to replace Stephen Callaghan, who has left following a boardroom coup by asset management firm Schroders. The move marks a return to CPP for Walsh. He worked for CPP between 2002 and 2014, ...
-
NewsWillis GB profit and revenues fall in first quarter
Willis Towers Watson’s UK broking division Willis GB made an operating profit of $20m (£13.8m) in the first quarter of 2016, down 4.8% on the $21m it made in last year’s first quarter. The division, which comprises Willis’s UK retail broking and London market speciality business, ...
-
NewsCMC regulator raids two claims firms and fines third
The Ministry of Justice’s Claims Management Regulation Unit (CMRU) has raided two claims management firms and fined a third £315,000. CMRU investigators teamed up with the police to raid two firms – one in Swansea and one in Birmingham – that it said were suspected of ...
-
AgendaBriefing: The future is challenging for UK commercial lines insurers
Briefing by Saxon East Can things get any worse for insurers struggling for commercial underwriting profits? In a word, yes. The PRA returns reveal a grim picture: premium fell 19% to £4.4bn, and insurers’ combined operating ratio (COR) worsened to 103.6% in 2015 from 103.4% in ...
-
NewsARO signs property owners’ deal with Broker Direct
ARO Underwriting has signed a property owners’ distribution deal with fellow underwriting agency Broker Direct. The deal will allow ARO to distribute its residential and commercial property owners’ products through Broker Direct’s 750 broker members. The brokers now have access to ARO’s recently launched quote-and-buy system. ...
-
NewsHester buys £479,850-worth of RSA shares after results announcement
RSA chief executive Stephen Hester has placed a huge bet on the success of his strategy for the business, buying £479,850 worth of shares in the insurer. He bought the shares yesterday after the release of RSA’s first quarter results that showed RSA’s UK and Ireland ...
-
-
Online onlyAXA and Ageas only insurers to make 2015 underwriting profits
AXA and Ageas were the only two carriers to make an underwriting profit in commerical lines in 2015. That is the results from a study of the PRA Returns of Aviva, RSA, Allianz, AXA, Ageas, DLG and LV=. Their collective premium fell a massive 19% ...
-
Online onlyUK commercial lines market shrinks 19% in 2015
The main players in the UK’s commercial lines market had their premium shrink by a massive 19% last year, according to Insurance Times analysis of PRA Returns. The collective premium of Aviva, RSA, Allianz, AXA, Ageas, Direct Line Group and LV= fell from £5.5bn to ...
