Brit Insurance
Post magazine - 12 April 2012
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AM Best downgrades Brit after QBE sale
Rating agency AM Best has downgraded the financial strength rating of Brit Insurance Limited to 'A- (Excellent)' from 'A (Excellent)' and the issuer credit rating to 'a-' from 'a' and placed the ratings under review with negative implications.
Market moves: Insurers lead Easter recruitment charge
As the industry heads into the Easter break, insurers are, once again, leading the way in the recruitment space.
Simply Business says no to MBO
Simply Business will not undergo a management buyout despite QBE taking over trading relations from Brit.
Broking bosses widely supportive of QBE swoop for Brit
New Oval chief executive Peter Blanc has expressed his “delight” after hearing the news that Brit’s UK regional business has been snapped up by QBE, rather than falling into the hands of a domestic rival.
Brit CEO insists it will retain stake in Simply Business despite UK arm sale
Brit has insisted it plans to keep its shareholding in online intermediary Simply Business despite selling its regional retail business.
Fitch issues warning over Brit Insurance
Fitch Ratings has placed Brit Insurance Limited's insurer financial strength rating of 'A' on rating watch negative after the sale of its UK regional business to QBE.
Brit UK acquisition to bolster QBE SME and property arms
QBE plans to use its acquisition of Brit’s UK operations to access the property and small to medium sized business markets.
Brit UK regional sold to QBE
Australian insurer QBE's European operations has bought Brit UK's regional operations with 130 staff transferring.
Egan set to undertake Towergate CFO role from next week
Recently appointed Towergate chief financial officer Scott Egan will begin work at the broker on April 12 before becoming a member of the firm’s partnership board and executive committee.
Argo hires ex-Brit underwriter for marine and speciality division
Lloyd's insurer Argo International has appointed Paul Gooderson as cargo underwriter in its marine and speciality division.
European sovereign debt hits insurer profits
2011 was the worst year on record for natural catastrophes, yet it was cracks in the Dow Jones, faults in the FTSE and tremors on the Hange Seng that bothered many insurers more.
Market moves: UK General and Towergate lead the pack
Insurer UK General and broker Towergate were the main movers and shakers this week, appointing a new chief operating officer and director of group mergers and acquisitions respectively.
Ink Insurance appoints Whitelock to manage Bristol office
Ink Insurance has today revealed the opening of a Bristol office which will be headed up by former Brit boss Janice Whitelock.
Towergate boosts merger management with Saulter appointment
Towergate Insurance has upped the ante on takeovers by bringing in Towergate Financial chief executive Dan Saulter, pictured, as group mergers and acquisitions director.
Groupama and Brit hit snags as they try to shortlist potential buyers
Industry big-hitters linked to Direct Line Group chairman role
Insurers to pay for Accident Exchange retrials
Major insurers that do not reach a settlement with Accident Exchange could end up paying millions of pounds in legal costs.
Brit 'schtum' on UK sale as profits and GWP drop in 2011
Brit Insurance has reported a profit before tax of £75.8m in 2011 (2010: £116.4m) on gross written premiums of £1.5bn (2010: £1.53bn).
Interview: Opportunity knocks for Capita's Brent Escott
Having set up, run and sold insurance businesses, Brent Escott is now embarking on a new challenge at the outsourcing giant.
Credit hire: Groupama and MMA "close" to agreeing deal with Accident Exchange
Credit hire firm Accident Exchange is said to be "close" to reaching a compromise agreement with Groupama, Provident and MMA Insurance which used Autofocus to demonstrate that Accident Exchange's rates were too high.
Methodology: Post Intelligence Benchmarking Finpro
One hundred and fifty-seven commercial brokers completed an online questionnaire addressing the service they got from their financial and professional lines insurers.
Career file - Scott Egan: Towergate swoops in for Brit CFO as Patrick exits
Scott Egan will leave his role at Brit Insurance Holdings to join Towergate as group finance director, subject to FSA approval. Egan has been group chief financial officer at Brit since 2011.
Post Intelligence Benchmarking Financial and Professional Lines: Positive experience
The Insurance 360 Financial and Professional Lines report found standards to be high.
Autofocus Legal Action: Rival CHOs line up to take on insurers as Autofocus employees face prison
Long-running legal battle could bring the credit hire industry and the insurance industry closer together