Commercial
Towergate smooths IPO path with debt restructure
Towergate has enlisted investment bank JP Morgan to advise it on a debt restructure that will extend the length of time it has to repay monies owed by swapping bank debt and preferred shares for a stake in a new subsidiary.
Jelf appoints Barton as chief executive
Phil Barton, commercial director of Jelf Group, has been promoted to the newly created role of chief executive of the group's insurance business.
McLarnon handed new role in Cunningham expansion
Cunningham Lindsey has appointed Paul McLarnon as its first corporate development director to spearhead its expansion in this space.
Reborn takaful firm eyes commercial move
Shariah compliant insurer Salaam Halal has vowed to write commercial business in the UK on its re-entry to the market, following parent group Principle Insurance's acquisition by the Kuwait-based Al-Salam Group.
Prime Professions to replace Quinn on solicitors account
Prime Professions is poised to replace Quinn with another insurer for its UK solicitors account, with Zurich and Travelers as frontrunners, Post has learnt.
SSP reveals profits rise
Technology firm SSP has revealed that its profit had risen 5% to £17m on revenues of £75m (up 2%) for the 12 months ended 31 March 2010.
Regulator waits on UK plan
Quinn Insurance's administrators are to spend at least a week on actuarial analysis of the UK commercial lines market before submitting plans to the Financial Regulator about it re-entering further selected lines.
Aviva names first corporate risk clients
Aviva has named Streetcar and Marie Curie Cancer Care among its early client wins, as part of its renewed push in the corporate risk sector.
Coverzones shuts up shop after finance warning
Commercial insurance aggregator Coverzones has shut up shop less than two years after it commenced trading in June 2008.
New UK government to face rehab lobby over lack of plan
The UK Rehabilitation Council has pledged to lobby whichever party wins today's election about the absence of any rehabilitation strategy for England, after it emerged Scotland is leading the way on this front and Wales has a multi-million pound…
Towergate seeks £665m cash boost
Towergate Finance, part of the Towergate Partnership, is seeking a £665m cash boost from investors to refinance its existing debt and redeem certain preferred shares.
Quinn CEO admits insurance arm would be best served by new owner
The boss of Quinn has admitted that Quinn Insurance could be best served by a trade sale.
Quinn CEO admits insurance arm would be best served by new owner
The boss of Quinn has admitted that Quinn Insurance could be best served by a trade sale.
Aviva continues search for corporate risk MD
Aviva is still searching for a managing director to lead its corporate risk solutions team four months after its launch.
McIntyre and Ageas name change given Fortis green light
Fortis has received overwhelming support from its shareholders for its proposed name change to Ageas.
McIntyre and Ageas name change given Fortis green light
Fortis has received overwhelming support from its shareholders for its proposed name change to Ageas.
Jelf appoints insurance CEO
Jelf Group has appointed Phil Barton, group commercial director, to the newly created role of chief executive – Jelf Insurance.
QBE outlines refinancing arrangement
QBE has launched an issue to institutional investors of 20 year zero coupon senior convertible securities raising $850m ($1.31bn).
Fortis extends self-employed offering
Fortis has revamped its liability product for the self-employed. Semploy Extra, which has been launched following a comprehensive review of its existing Semploy offering, will be available for new and existing clients from 31 May.
Markel wins jockey sponsorship
Flat jockey William Buick has signed a two-year sponsorship agreement with insurer Markel International.
Quinn to lay off 800, claims report
Grant Thornton, the administrators of Quinn Insurance, plan to make about 800 staff redundant as part of a major downsizing of the insurer, it has been reported.
Speculation mounts over Quinn takover by UK construction giant
Construction firm Laing O’Rourke has held talks with the Quinn Group amid continuing speculation about a takeover of parts of its beleaguered business, according to reports in the Irish press.
Ex-HSBC PI team leaves Marsh
Marsh has transferred part of the professional indemnity portfolio it took over as part of its acquisition of HSBC Insurance Brokers to RK Harrison Insurance Services.