All Insurance Times articles in On-Line Archive – Page 1918
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NewsFCA fines and bans brokers over £150,253 client money blunder
The FCA has banned former insurance brokers Terence Joint and Vroni O’Brien for failings in relation to the handling and misuse of client money. Key points: Broker Joint Aviation directors fined £30,000 Joint Aviation owed £150,253 to insurers Broker transferred client money ...
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NewsCarole Nash to buy Ageas Retail’s motorbike business
Specialist motorbike broker Carole Nash has agreed to buy Ageas Retail’s motorcycle insurance books of business for an undisclosed sum. The books comprise around 20,000 policies, accounting for roughly 1% of the insured vehicles in the UK motorcycle market. This adds to the 25% share of insured ...
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NewsCovéa and AIG are brokers’ favourite in e-trade survey
Allianz performs well, along with ACE and Aviva. Zurich bottom of table.
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NewsHiscox group GWP up 10.3% in six months; UK GWP up 5.8%
Hiscox saw group gross written premiums rise 10.3% to £640.5m in the six months to March, up from £561.7m a year earlier. Hiscox UK GWP rose 5.8% to £110.5m from £103.5m a year earlier, which the company described as “a strong result in a challenging market”. ...
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NewsBarbican hires Towergate underwriter Roberts
Barbican Protect, the UK insurance arm of Barbican Insurance Group, said it has hired Alexandra Roberts (pictured) as a development underwriter, financial lines. Roberts joins Barbican Protect from Towergate Professional Indemnity where she was a senior account handler, working across a broad spectrum of professional sectors. ...
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NewsCorrection: Esure and Admiral
The executive pay article in the May 2016 edition of Insurance Times (pages 8 and 9) contained a number of factual errors about Esure and Admiral. The article incorrectly stated both the figures for the remuneration for the Esure CEO and Admiral CEO. Additionally it gave ...
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NewsHood appoints new residential property head
Affinity insurance provider, Hood Group, has appointed Sarah Smith to the newly created role of head of residential property. Smith will be responsible for the leadership and management of the group’s residential property lines of business which includes household, landlords and renters insurance. She joins Hood ...
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NewsMarkerstudy to launch pet aggregator site
Markerstudy is to launch a pet aggregator site, called Go Get It later this month. The company said that with its experience with pet insurance provider Ultimate, it identified a gap in the market for a price comparison site that is focused exclusively on pet insurance. ...
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Online onlyThe ITEX View: How brokers can succeed in the digital age
Embracing new technology can represent a real opportunity for brokers to add value, ITEX chairman Nigel Norman says
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Online onlyCarol Brady: No quick fix for CMCs
There is no “quick fix” for the increased regulation of claims management companies (CMCs), warns Carol Brady, who led the government’s recent review into the industry. Speaking at the Insurance Times Fraud Charter, Brady, a non-executive member of the Claims Management Regulation Board and chair of ...
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NewsSmart home technology could cut CORs
Smart technology such as leak, fire and theft detectors in the home could reduce insurers’ combined operating ratios (CORs) by 21%, research suggests. According to an Innovation Group report, tech giants such as Google and Samsung are trimming the amount of insurance claims made by building ...
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NewsAllianz UK profit up 43% in first quarter
Allianz UK made an operating profit of £47.4m in the first quarter of 2016, up 43% on the £33.2m it reported in last year’s first quarter. The insurer’s combined operating ratio improved by 1.8 percentage points to 95.9% (Q1 2015: 97.7%). But gross written premium fell ...
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NewsNovae GWP grows 9.8% in first quarter despite rate pressure
Novae reported gross written premium (GWP) of £282.8m in the first quarter of 2016, up 9.8% on the £257.6m it reported in last year’s first quarter. The Lloyd’s insurer enjoyed growth across all three of its business segments. The casualty unit reported the strongest growth, where ...
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NewsMotor premiums up 7.2% in Q1 – Biba/Acturis
Personal motor premiums increased by 7.2% in the first quarter of 2016 compared with the same period last year, according to the Biba/Acturis Insurance Price Index. This excludes recent rises in insurance premium tax (IPT). With the November IPT hike to 9.5% from 6% included, the ...
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NewsBroker Network now 100% independent of Towergate - Clark
Broker Network is now 100% independent from Towergate in its day-to-day activities and operations, says new executive chairman Ian Clark. Private equity house HPS recently raised its stake in Broker Network to around 80% of the business. The rest of the business is owned by minority ...
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NewsBiba appoints Lorega as loss recovery insurance provider
Biba has appointed Lorega as the provider for its loss recovery insurance scheme for members. Lorega has been appointed for a three-year term, starting on 13 May this year. Under the scheme, Biba member brokers will be able to offer the Lorega cover to their personal ...
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NewsZurich group GI profit drops 23% in first quarter
Zurich’s global general insurance (GI) business made an operating profit of $542m (£375m) in the first quarter of 2016, down 23% on the $706m it made in last year’s first quarter. But while the result was down on 2015’s first quarter, Zurich said the performance was ...
