Lloyds TSB is No 1
The Lloyds TSB website Lloydstsbcompare.com has pushed Tescocompare.com off top spot in Defaqto’s ranking of the best motor insurance comparison websites in September. Defaqto, a financial researcher, assessed 21 websites. It found some still make assumptions about users’ medical or claims history, leading to different quotes being raised once customers reach the insurer’s website.
Brightside profit soars
Brightside has reported a turnover of £15.6m for the six months to 30 June 2008. The broker’s adjusted pre-tax operating profit rose to £2.5m, up 172% from £920,000 in the same period last year.
Fice joins QBE
QBE has appointed Peter Fice manager of its market retail property operation. QBE also plans to recruit senior London market property underwriters and geographic risk analysts.
Axis hurricane loss
Axis Capital has announced preliminary net loss estimates for hurricanes Gustav and Ike ranging from $310m to $430m (£172m to £239m), net of reinstatement premiums. The losses potentially represent 8% of total shareholders’ equity, according to the company’s 30 June balance sheet.
AXA names finance chief
Jean Drouffe has been promoted to finance director of AXA. His appointment follows the reorganisation of the business by Philippe Maso, AXA’s chief executive.
OurNetwork signs up 60
OurNetwork, launched last month by broker-owned insurance management company Broker Direct, has signed up its first 60 brokers. It was set up primarily for IIB members.