Aon approves Airmic index
Aon backed Airmic's move to make an insurer 'willingness to pay' index one of the association's new priorities. Aon executive director Martin Thomas said: “Through Aon's own 'willingness to pay' index we have been measuring insurer and reinsurer claims performance for over 12 months.”
Allianz appoints O’Neill
Allianz has appointed former Marsh private clients boss, Barry O'Neill as managing director of Home & Legacy. O’Neill will replace Simon Lloyd who is leaving for personal reasons. Marsh said it was looking for a replacement for O’Neill.
Kwik-Fit buys Express
Kwik-Fit Insurance completed its first acquisition, buying Express Insurance Services for an undisclosed sum, as predicted by Insurance Times (News, 31 May). Express has an annual turnover of around £9m and employs over 150 staff at its Birmingham headquarters.
IIB responds to FSA review
There is no market failure from current market practices on commission disclosure, according to the IIB. In addition there would be no consumer benefit from mandating commission disclosure, the trade body said in a written response to the FSA's review into the matter.
AXA replaces Fairchild
AXA Insurance appointed Ian Johnson to the post of chief operating officer. The move follows the surprise departure of Andy Fairchild in April. Fairchild had only taken up the position of chief operating officer in January 2007.
AXA’s rating raised to AA
Standard & Poor's raised the insurer financial strength ratings on the core subsidiaries of AXA to 'AA' from 'AA-'.
FarmWeb launches product
FarmWeb launched a product to cover country estate businesses. RK Harrison will provide underwriting services.