Powergen product
Powergen is to offer central heating insurance as part of its entry into the home energy services market.
The energy company's HeatCover insurance product, underwrit …
Powergen productPowergen is to offer central heating insurance as part of its entry into the home energy services market.The energy company's HeatCover insurance product, underwritten by Domestic & General, will offer annual service and safety inspections, repair work, and money towards a replacement boiler.
NU acquisitionNorwich Union (NU) has acquired vehicle information provider HPI for £120m from Phoenix Equity Partners. HPI provides vehicle status checks for used car purchases in the UK. NU said the company had approximately 60% market share in the UK.
Brokers suedA San Francisco-based insurance consumer rights group is suing the three largest global brokers over alleged non-disclosure of commission received from insurers. The lawsuits, filed by United Policyholders against Marsh, Aon and Willis, allege that they defrauded Californian consumers by not adequately disclosing the contingent commission they received from insurers, said a report.
Ace GWP boostBermuda-based Ace Ltd reported gross written premium (GWP) up 19% for the three months ended 30 June. GWP went up from $3.4bn in 2003 to $4bn for the second quarter of 2004. Pre-tax profit increased by 18% to $541m.
Willis appointmentWillis Group Holdings has recruited Simon Hornby, managing director of Global Risk Partners, with the company becoming part of the Willis group. The Miami-based consultancy specialises in reducing clients' operational risk exposures in cash-in-transit, high-value cargo, mining, banking and logistics.
Tooze acquisitionRickman Tooze Financial Planners has acquired part of the business and assets of Cirencester-based Rickman Tooze Independent Financial Advisors. The newly-formed business will be known as RT Financial Planners.
