Commercial
THB buys AFL commercial wholesale account
THB has acquired AFL Insurance Brokers' UK commercial wholesale account.
Cooper Gay UK MGA undergoes an MBO
Cooper Gay & Co has rebranded its MGA platform, Oliva, as Globe Underwriting as part of a decision to refocus on international business.
Zurich sees 19% drop in GI profits after US$1bn cat losses in 2011
Zurich recorded a general insurance business operating profit of US$2.3bn in 2011, a decrease of US$403m or by 15% in US dollar terms and 19% on a local currency basis.
Axa UK returns to profit with 98.9% GI COR but still at a loss in motor
Axa returned to profit in 2011 reporting underlying earnings of £133m (2010: loss of £63m; restated to exclude the contribution from sold activities).
Post Intelligence Benchmarking Financial and Professional Lines: Positive experience
The Insurance 360 Financial and Professional Lines report found standards to be high.
Brokers unconcerned as RBSI rebrands as Direct Line
Brand Finance heralds move as sensible
Bollington reshuffles management team as private equity speculation increases
Joe and Stephen Wall have both left the Groupama-owned firm
Editor's Comment: RBSI takes the Direct approach
The news that Royal Bank of Scotland Insurance is to use the Direct Line brand comes as little surprise.
Brokers issue retention rate warning over commercial insurance aggregation
Insurance firms looking to help aggregators target commercial insurance expansion in 2012 have been warned to check poor retention rates and increased fraud risks before over-committing themselves.
Webinar: Closing the loop on records management and data security risk
In this video, Incisive Media’s group editorial services director David Worsfold chairs a lively discussion on records management and data security risk, including the challenges of managing records during the 2012 Olympic Games.
Post magazine – 16 February 2012
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
JLT merges Spanish arm with local giant
JLT is to combine its existing Spanish retail broking business JLT-SIACI Espana SL with the business of March - Unipsa Correduria de Seguros, SAU (Unipsa), the fourth largest commercial insurance broker in Spain and a subsidiary of Banca March, to form…
Business continuity plans can save companies, Biba research reveals
New research from the British Insurance Brokers’ Association and the Cabinet Office has revealed business continuity plans are likely to stop companies from failing after a major disruption such as a flood or fire.
Willis backs down on contingent commission stance to remain "fully competitive"
Willis has admitted it is to review its practices after revealing it will begin to accept contingent commissions from 1 April in its employee benefits arm.
Plumeri "not satisfied" with Willis in Q4 as UK sees double digit drop
Willis has declared that it saw a double-digit decline in the Willis UK and Ireland retail business in the fourth quarter of 2011.
JLT merges Spanish arm with local giant
JLT is to combine its existing Spanish retail broking business JLT-SIACI Espana SL with the business of March - Unipsa Correduria de Seguros, SAU (Unipsa), the fourth largest commercial insurance broker in Spain and a subsidiary of Banca March, to form…
New year European windstorm damage estimated at €267m
Perils has today disclosed an initial loss estimate for windstorm Andrea, which occurred in Western Europe from 4-5 January 2012, of €267m.
Marsh reports bumper profit growth
Broker Marsh's parent MMC has reported revenue up 9% to $11.5bn in 2011 with pre-tax profit up 82% to $1.4bn ($769m). Operating income was up 49% to $1.6bn ($939m).
Axa to increase underinsured SME BI cover for free
Axa Commercial Lines is offering its combined policy product customers a premium waiver to help underinsured small and medium enterprises get back on their feet.
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
Employers’ liability: A fund of last resort
The need for a fund of last resort for employers’ liability claims still divides the insurance community. While plans to create an Employers’ Liability Insurance Bureau have stalled, it still has supporters who are determined to see these proposals come…
Government deregulation puts sprinkler legislation on back burner
Insurers have been told to prepare for government apathy over mandatory sprinklers legislation and, at best, expect piecemeal change.
RSA's Brown re-jigs top team to make business less 'complicated' to deal with
RSA’s UK and western European CEO Adrian Brown today outlined plans to simplify its business in order to get closer to its customers, whether brokers or consumers, having admitted that its structure may have previously been “too complicated”.
Post magazine – 9 February 2012
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.