Post - 09-03-2011 (09-03-2011)
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Aviva Health UK has made a “significant” investment to secure a minority shareholding in rehabilitation firm HCML.
Google intends to run Beat That Quote as a separate business in the near term, following its £37.7m acquisition of the aggregator.
Insurance comparison site The Bike Insurer has been acquired by web design firm Vast Visibility, Post has learnt.
Swinton CEO Peter Halpin had a lot to live up to - following, as he did, in Patrick Smith’s footsteps. He talks to Leigh Jackson about taking the company forward and continuing its impressive acquisition record.
With Google this week snapping up beat that Quote for a little under £40m, and web design firm Vast Visibility simultaneously buying two specialist bike and van price comparison sites, aggregators are very much the insurance ‘buy du jour’.
Well, spring has sprung and yet, with the exception of the personal lines motor market, there is still no sign of any rate-hardening green shoots.
Penny was fortunate to be sunning herself in southern Spain earlier this week. With only a mild case of sunburn to attend to, she was shocked to hear one of her insurer pals had experienced a rather more unfortunate injury on his holiday.
Chaucer has attributed its fall in profit and property underwriting loss to its exposure to global catastrophes.
Aviva has mooted reintroducing telematics technology for private cars during 2011, according to UK chief executive Mark Hodges.
Admiral has vowed to retain Confused, despite the aggregator’s profit falling by 54% in the past three years.
The Association of British Insurers’ new director general has pledged to put consumer issues across general insurance and life & pensions at the centre of the organisation’s strategy.
Aon has made of raft of senior hires to its UK professions team, after several members of its previous team defected to rival broker Jardine Lloyd Thompson last year.
The European Council’s proposals to standardise taxes across member states could mean fewer insurance companies look to redomicile to countries such as Ireland.
Liberty Mutual insurance Europe is targeting rivals Ace and Chubb for a larger slice of the mid-corporate market - a sector it believes will act as a “springboard” into the wider UK market.
Ace has become the final major insurer to sign up to the employers’ Liability tracing Office.
Amlin will monitor rate increases in earthquake zones in 2011, after blaming significant catastrophe activity for a £250m drop in profit for 2010.
Novae chief executive Matthew Fosh has said the UK’s economic landscape is set to force the insurer to redomicile, so it can remain competitive and yield bigger returns for shareholders.
Hardy Underwriting’s profits halved to £10m during 2010, after it faced a string of international catastrophe losses with a net value of £37m.
Allianz insurance has urged brokers to go “back to basics” to ensure more commercial customers are provided with adequate business interruption cover.
High street broker Swinton is targeting at least 25 acquisitions in 2011, after completing five such deals so far this year.
Callum Capital Ventures is aiming to exceed its current rate of one acquisition a month, after completing the purchase of South Wales-based Hanbury insurance.
Chartis has launched a web app for two of its SME products, so brokers can obtain speculative or last-minute quotes while on the move.