Articles by Mairi MacDonald
Capita and XL back Lloyd's-based Shariah-compliant start-up
A Shariah-compliant underwriting agency has been launched in the London market with the financial backing of Capita and the Bank of London & Middle East, and capacity provided by XL.
Quindell revenue rises 904% in 2012
Quindell Portfolio has reported a 904% year-on-year increase in revenue to £137.6m (2011: £13.7m) while pre-tax profit increased by 915% to £41.2m (2011: £4.1m).
News review: 2 May 2013
A round-up of news stories from this week.
Questgates' Hall named institute president
Birmingham Insurance Institute has appointed Questgates managing director Chris Hall Hall as its new president.
Covéa uncovers Dudley driver's false claim
An Audi driver from Dudley who made a four-figure insurance claim for a fictitious crash has been ordered to undertake 120 hours unpaid work.
Admiral profitability 'under pressure'
Admiral’s “unprofitable foreign growth” does not compensate for the “fast-declining” UK profitability, according to a scathing analysts report.
CII report highlights insurers' role in protecting public interest
The general insurance sector has made major strides to improve its role in protecting the public interest, according to a new report by the Chartered Insurance Institute.
Ageas appoints Broughton to group board
Ageas has appointed Steve Broughton as a non-executive member of its group board of directors for a three-year period, subject to approval by the National Bank of Belgium.
Broughton appointed to Ageas group board
Ageas has appointed Steve Broughton as a non-executive member of its group board of directors for a period of three years, subject to approval by the National Bank of Belgium.
British Gas joins forces with Axa to launch home insurance offering
British Gas is offering home insurance for the first time After joining forces with Axa Direct & Partnerships.
Admiral reports 9% fall in UK turnover
Admiral chief executive Henry Engelhardt has said that now "is not the right time to grow" its market share in the UK after turnover fell 9% to £470m (Q1 2012: £518m) in the first quarter of this year.
Collinson sets sights on Aria acquisition
The Collinson Group is to acquire Aria Assistance in a deal that will add £50m gross written premium to its balance sheet.
Ageas strikes deal with Giles-owned Compass
A new three-year partnership between Giles’ network division Compass Broker Services and Ageas UK Insurance is expected to generate £20m gross written premium, according to the firms.
Quindell expands ranks with Crusader acquistion
Quindell Portfolio has acquired motor claims management specialist Crusader Assistance Group Holdings in a £9m deal, subject to regulatory approval.
Long-serving staff hardest hit by Aviva’s latest round of job cuts
Aviva staff face renewed uncertainty following the insurer’s decision to axe 2000 jobs globally, eight months after 800 jobs were put at risk.
Moody’s downgrades Towergate after patchy 2012 financial results
Towergate’s financial results for 2012 have revealed vastly divergent performances among its four main insurance divisions, ranging from a 24% year-on-year drop in earnings in its network arm to a 17% rise in underwriting earnings.
Towergate hit with Moody's downgrade
Moody's has cited "significant" levels of debt and limited earnings as the reasons behind its downgrade of Towergate, following publication of the consolidator's results.
Hodges upbeat about network future
Towergate chief executive Mark Hodges said he is confident that the firm’s network division can create an “incredible service offering for brokers” despite a 24% drop in its operating earnings in 2012 to £10m (2011: £13.1m).
Barnett & Barnett reveals post-MBO rebrand
Barnett & Barnett and NBJ are rebranding as ICB Group from 1 May following their management buyout from IAG in December.
Aviva general insurance boss defends latest round of job cuts
Aviva's chief executive of general insurance for UK & Ireland has described job losses within the group as a "fact of life" as it moves to become more a "lean, agile and competitive" operation.
Aviva to cut 2000 jobs
Aviva is to cut more than 6% of its global workforce with 2000 roles across the UK, Europe and Asia being made redundant.
Duo joins PHP board of directors
The Private Health Partnership has appointed two new board members.
Charles Taylor appoints director
Run-off specialist Richard Hayes has joined Charles Taylor Insurance Services as strategic business planning and development director and is charged with driving the firm's plans for growth in the insurance services market.
Quindell enters North America through acquisition
Quindell Portfolio has entered the North American insurance market through its acquisition of software as a service-based provider Iter8 in a deal worth £20.8m.