Broker
Premium rate phone ban to cost insurers £90,000 per year
The proposed ban on insurance companies using premium rate telephone numbers for customers could cost insurers as much as £90,000 a year in lost revenue, according to calculations by technology firm Callstream.
Ireland performance was ‘too good to be true’ says RSA CEO Hester
RSA’s performance in Ireland was “too good to be true” and should have been recognised earlier, according to group CEO Stephen Hester.
MGA start-up gambling on growth of HNW homeowner market
Large numbers of homeowners with significant assets are failing to purchase appropriate insurance cover, according to the chairman of a newly launched managing general agency targeting the high net worth market.
Australia: Redefining advice
Insurers and brokers down under are at odds over how best to redefine regulatory advice definitions in the wake of a major report that says the industry needs to do more to help consumers get the right level of home cover.
Tysers appoints Lancashire's Blakeborough as COO
Lloyd’s broker, Tyser & Co has appointed Stuart Blakeborough as chief operating officer.
Unsecured creditors swoop for Towergate
Towergate's creditors appear to have struck a deal with its unsecured creditors to sell 80% of the broker's equity for £300m, according to a report.
Willis and Miller merger a ‘tragedy’, says Gallagher boss Ross
Willis’ planned acquisition of Miller has been labelled "a tragedy" for the market by Arthur J Gallagher International CEO David Ross.
GRP backs MBO at Lloyd's broker Ropner
London market consolidator Global Risk Partners has backed its second management buyout in three months after agreeing to support an MBO by Lloyd’s marine broker Ropner Insurance Services.
Broking profits rise $59m at Gallagher as acquisition costs spiral upwards
US giant Arthur J Gallagher’s broking operation chalked up net earnings of $263.8m (£174.1m) for the year ended 31 December 2014, compared to $204.8m over the previous 12 months.
Tysers aviation MD Walters jets off to Gallagher
Arthur J Gallagher has hired Tysers’ aviation managing director Mark Walters to lead its own aviation division.
Principal Insurance plans to grow following £250k funding
Manchester-based specialist motorcycle broker Principal Insurance has secured a £250,000 loan to fund its growth plans.
Audio: Lyons on rival Towergate bids
Towergate interim CEO Alastair Lyons discusses the firm's various former suitors and why the debt-for-equity swap deal with senior creditors was its preferred bid.
C-Suite - Broker: Waking up to the cyber threat
With technology advancing rapidly, the industry needs to take its head out of the sand
Towergate tipped for future sale despite debt-for-equity deal
There is “no question” Towergate will be up for sale once again in the coming years, according to market insiders, who believe the swift appointment of a CEO is paramount following this week’s debt-for-equity deal.
Video: Chairman of UK Spill Stewart Ower
OHES Environmental founder and chairman of UK Spill Stewart Ower speaks with Post about raising the profile of UK Spill, the benefits of good spill response, and life as part of Arthur J Gallagher.
In Series: Corporate Risk: Leading the way
Claims management in the corporate space needs a tailored and clearly communicated approach, so how can insurers and brokers eradicate the grey areas to deliver this successfully?
Market Moves - 5 February 2015
All the latest job moves in the insurance market.
Interview: Stewart Ower: Going with the flow
Chairman of UK Spill Stewart Ower plans to use his tenure to ensure any environmental aspect of a claim is one recognised as early as possible, so proactive intervention can help take control of claims costs
Insurance industry failing to engage on social media as UK lags behind US
UK companies are being outperformed by their US counterparts in their use of social media for corporate communications, according to an Investis review, which ranked the insurance industry as one of the lowest performing sectors.
Pacific Prime hails Axa Singapore medical product
Axa's product for pre-existing conditions is a "major shift" in the market, according to the broker's Pacific Prime manager Singapore, Olivier Zeller.
Swinton updates TV advertising campaign
Swinton Insurance is to launch a new advertising campaign as part of a three-year £75m business transformation programme.
Other offers undervalued Towergate, claims interim boss
Rival bids for Towergate were lodged but all undervalued the business, the company's interim CEO Alastair Lyons has said.
Towergate Financial facing £85m mis-selling bill
Towergate expects to pay up to £85m in redress costs for the mis-selling of two financial products to the end of 2012.
Towergate's EBITDA down 24% in 2014
Earnings before interest, tax, depreciation and amortisation at Towergate fell 24% last year to £110m from £145m in 2013.