Latest News – Page 990
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News
Brightside to develop MGA in motor, household and tradesman liability
New hires announced yesterday will also help to drive underwriting profit for insurers
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NIG planning to offshore 30 jobs
At-risk positions are not broker-facing and reflect ‘challenging’ commercial landscape
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ABI in Flood Re band H u-turn
Industry originally agreed to exclude high-value properties because of fears over parliamentary support
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Gallagher reports Q1 organic growth slowdown
Giles integration costs at high end of estimate range in Q1
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Brightside swoops to take two from Towergate
Chief exec Paul Williams wants to drive up expertise around operational, underwriting and compliance divisions
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Quindell signs record telematics deal with RAC
Joint venture will create new company, Connected Car Solutions, to distribute connected car capabilities
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Gallagher buys Wesfarmers broking business
Group generated A$331.1m revenue in year to 30 June 2013, with 8-10% coming from the UK
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Finance director David Simpson leaves Bollington
Hire of Patrick McDonnell as Simpson’s replacement forms part of broker’s post-management buy-out restructuring plans
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Online onlyProfits exposed: Admiral, DLG and Esure - who is most reliant on reserves and add-ons?
Insurance Times analysis of profits at Admiral, Direct Line Group and Esure reveals a reliance on add-ons and reserve releases. But with these revenue streams making up such an important part of their business, are the profits seen for 2013 sustainable?
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Breaking News
CII reports 22% rise in ethics breaches
Professional Standards Board dealt with 311 non-CPD cases in 2013
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ERIC suspended from paying claims
Policy holders in limbo as the FSCS can’t step in unless insurer officially defaults
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FCA and PRA have ‘poor understanding’ of insurance – survey
Regulators see industry as ‘remote, inaccessible and a little bit stuck in the past’
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Quinn Insurance collapse cost Irish policyholders £54m in 2013
Amount collected from policyholder levy rose 44%, compared with 2012 levels
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Top Esure execs’ 2013 bonuses hit as company misses profit target
Chief executive Stuart Vann and finance head Darren Ogden had substantial pay rises despite missing ‘on target’ bonus
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JLT wins deal for household name client
Contract is a reputational sweetener for JLT’s sales team
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Breaking News
Allianz Retail awarded Chartered Insurer status
Insurer joins group of 27 chartered insurers in the UK
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News
Ex Kwik Fit boss Brendan Devine unveils Sure Thing!
New broker targets motorists with above-average premium
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Astbury Wren chief exec banned and fined £70,000 for 'misappropriating' premiums
Broker moved £630,909 of client premium to its own accounts
