Latest News – Page 755
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NewsTowergate owner eyes Autonet deal
Towergate owner HPS, formerly known as Highbridge Principal Strategies, has been tipped as a frontrunner to acquire a stake in van broker Autonet Insurance Brokers, Insurance Times can reveal. According to market sources, Autonet is close to agreeing terms with HPS. Autonet and HPS have declined ...
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NewsGRP makes second retail broking investment
Peter Cullum-backed consolidator Global Risk Partners (GRP) has funded subsidiary Abbey Bond Lovis’s acquisition of Northern Ireland broker McGrady. GRP backed the management buyout of Abbey Bond Lovis in August 2015 and the company has since been plotting to expand in Northern Ireland. McGrady is GRP’s ...
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NewsCarrot's telematics 'warning' initiative improves young driver behaviour
Telematics firm Carrot Insurance has used its telematics box to improve the driving behaviour of its young policyholders, director Ed Rochfort has said. The firm which won an award last year for reducing accident frequency by 42% among its young drivers, through a strategy of intervention ...
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NewsAmanda Blanc succeeds John O’Roarke as IFB chair
The Insurance Fraud Bureau has appointed AXA UK and Ireland general insurance chief executive Amanda Blanc (pictured) as its new chair. She replaces outgoing LV= general insurance managing director John O’Roarke, who has stepped down as the bureau’s chairman after three years in the position. O’Roarke ...
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NewsAllianz Q1 revenues down 6.4%, operating profit down 3.5%
Allianz said first quarter revenues fell 6.4% from a year earlier to €35.4bn and operating profit fell 3.5% to €2.8bn. In Property and Casualty insurance, the combined ratio improved 1.3 percentage points to 93.3%, largely due to fewer claims stemming from natural catastrophes. Solvency II capitalization ...
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NewsHome premiums up sharply while motor stalls in Q1, says AA
Home insurance premiums have increased sharply over the past three months, while motor premiums have stalled, according to the AA. The AA’s benchmark British Insurance Premium Index shows that premiums for the average quoted Shoparound premium (average of the five cheapest quotes for each ‘customer’ in ...
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NewsBroker Network names Ian Clark as executive chairman
Broker Network has appointed Ian Clark (pictured) as executive chairman. Clark’s appointment follows last month’s appointment of former Canopius UK specialty chief executive Tim Rolfe as chief product and underwriting officer, and the announcement in March that former Brightside boss Des O’Connor was joining as ...
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NewsAIG reports lower profits in Q1 as investment income hit
AIG reported a lower-than-expected profit for the third straight quarter as poor returns from hedge funds hurt its investment income. Group operating profit fell 54% to $773 million in the first quarter, partly due to restructuring costs of $122m. Pre-tax income in AIG’s commercial property and ...
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NewsAon broking unit reports 4% profit rise and 3% organic growth
Aon’s Risk Solutions division made an operating profit of $429m (£294.5m) in the first quarter of 2016, up 4% on the $412m it made in last year’s first quarter. The profit increase came despite a 1% drop in revenue at the division to $1.87bn (Q1 2015: ...
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Online onlyAdmiral guns for China with price comparison site entry
Admiral aims to crack the Chinese insurance market with a price comparison site entry. The Cardiff-based insurer has a price comparison partnership with Spanish insurance giant Mapfre. And founder Henry Engelhardt and incoming chief executive David Stevens believe now is the right time to gun for ...
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Online onlyPRA Returns: AXA only insurer to make commercial property underwriting profit
Insurance Times can today reveal the first results of its investigation into the underwriting performance of insurers in 2015. Starting today, Insurance Times will reveal the results of its investigation into the commercial PRA Returns for seven insurers - Aviva, RSA, Allianz, AXA, Ageas, DLG ...
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NewsBarbican opens Manchester office
Lloyd’s insurer barbican has opened a new office in Manchester. It is based in the recently developed ‘Hive’ complex in the city’s Northern Quarter. Barbican said the new office serves three main functions: proving a regional base for underwriting and business development of recently launched UK ...
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NewsCharles Taylor launches insurance technology unit
Insurance services firm Charles Taylor has launched an insurance technology arm called Charles Taylor InsureTech. The new unit brings together more than 200 insurance technology staff to develop technology solutions for the global insurance market. The division will be headed by Jason Sahota as chief executive ...
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NewsCarole Nash opens new Dublin office
Motorbike broker Carole Nash has opened a new office in Dublin. 2015 World Superbikes champion Jonathan Rea was at the launch to meet local bikers. The company opened its first Irish office in 1999. Carole Nash’s Irish team has grown to 30 full-time employees from a ...
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NewsApprenticeship levy needs radical rethink – CBI head
Business lobby group The Confederation of British Industry (CBI) is urging the government to “radically rethink” its apprenticeship levy, the Financial Times reports. The paper said that CBI director general Carolyn Fairbairn (pictured) is expected to say in a speech in London today: “Firms want to ...
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NewsVolvo to run self-driving car trial in London in 2017
Volvo is to start trials of autonomous cars on roads around London next year. “Autonomous driving represents a leap forward in car safety,” said Håkan Samuelsson, president and chief executive of Volvo Cars. “The sooner AD cars are on the roads, the sooner lives will start ...
