£400m Cornhill bid
Cornhill is believed to be the only company left in the race to buy Groupama's UK insurance business.
Its bid, thought to be worth up to £400m, is now being scrutinised b …
£400m Cornhill bid
Cornhill is believed to be the only company left in the race to buy Groupama's UK insurance business.
Its bid, thought to be worth up to £400m, is now being scrutinised by lawyers.
Rival bidders, reported to include Credit Suisse, pulled out last month.
If successful, Cornhill's bid would move its parent company Allianz up the table of UK general insurers past its rival, the Royal Bank of Scotland, which owns Direct Line.
In terms of gross written premium, Groupama, is thirteenth in the league table of UK general insurers. It wrote £555m in gross premiums last year.
No longer Prompt
Prompt has changed its name to Close Premium Finance, to reflect its ownership by the Close Brothers Group.
Close Brothers was founded in 1878 and is now the biggest independent quoted merchant banking group in the UK, with assets of more than £2.7bn.
Clements on board
MMC Capital founder and Arch Capital Group chairman Bob Clements has joined the board of Riskclick Inc as a non-executive director.
Clements is a former president of Marsh & McLennan Companies, where he was responsible for the insurance broking operation, and a former director of Ace, Mid-Ocean Re, Hiscox plc and Stockton Holdings.
Allianz database
Allianz Cornhill is offering a new jewellery valuation service for brokers.
Brokers can now offer Allianz Cornhill policyholders the opportunity to have their jewellery valued, digitally photographed and given a "SafeMark" - applied like a hallmark.
The information is then stored on a database to provide proof of ownership to aid the insurance claim and Safeguard work with the police to help return stolen items to their owners.
The service is available through 1,200 jewellers nationwide.
