News
Wallace and Gromit broker sold
Oval has purchased Torribles Insurance, a South-west broker specialising in insurance for large-scal...
Appointment at Standard Life Healthcare
Standard Life Healthcare has made Simon Turner a national sales manager for its intermediary sales a...
Appointment at Questgates
Questgates has recruited Greg Bannister as senior technical supervisor in its motor division in Bolt...
Zurich recruits Annette Court from RBS
Annette Court, chief executive of Royal Bank of Scotland Insurance, is to join Zurich Financial Services as chief executive of Europe General Insurance.
HMT launches consultation on transfers of insurance business
The Economic Secretary to the Treasury, Ed Balls MP, last week proposed amendments to the Financial Services and Markets Act 2000 to provide greater certainty to aspects of the transfers of insurance and banking business.
FSA encourages the use of industry guidance
The Financial Services Authority (FSA) last week set out plans to encourage greater use of Industry Guidance as it moves towards a more principles-based approach to regulation.
FSA - Radical proposals for move to a more principles based regulation
The Financial Services Authority (FSA) last week published its proposals for a radical simplification of the rules that firms must follow in carrying out investment business with customers.
Mondial and easyJet sign three-year deal
EasyJet has renewed its contract with travel insurance services provider Mondial Assistance, to provide online travel insurance to its customers.
Greek insurer EIH announces London listing plans
European Insurance Holdings which, following the consolidation of the operating companies Egnatia Insurance and LeMonde Insurance, will be one of Greece’s fastest growing insurance groups has announced an equity fund raising and plans to list on the…
Converium continues stabilisation in 3Q, confident of upgrade
Swiss reinsurer Converium has reported net income of $54.3m for the third quarter of 2006 on net premiums written which decreased by 5.1% to $410.5m compared with the same period of 2005
Inquiry launched into scope of FSA insurance regulation
Parliament's Treasury Committee is to undertake a short inquiry into the scope of Financial Services Authority insurance regulation.
RSA in London bodyshop deal
Royal & SunAlliance has appointed DWS Bodyworks, the UK's second largest independent crash repairer, to provide dedicated motor repairer services in London.
Powell Price & Co banned from trading
Herefordshire broker Powell Price & Company has been stripped of its permission to trade in general insurance because the Financial Services Authority believes it may not have been passing premiums onto underwriters.
Surrey broker sold off
Equity Insurance Group has acquired Sutton broker Higgins Sheppard Stewart, its 24th such purchase during the last 12 months.
Axis ceo to sell shares to finance divorce
Axis Capital Holdings has said its president and chief executive John Charman intends to sell shares in the Bermuda-based insurer from time to time, in order to fund his $91m divorce.
10 arrested in insurance fraud raids
Bedfordshire Police has today arrested 10 people on suspicion of conspiracy to defraud insurance companies as part of a major investigation into an organised criminal enterprise based in Luton. The current investigation is targeting the group’s…
Key London market figures herald agreement
In the latest step in its drive to promote business processing efficiency in the London market, the Market Reform Group has reached agreement with key market bodies on the procedural rules which will underpin the use of the Insurers’ Market Repository.
Tory hits out as ABI warns on flooding
Peter Ainsworth, the Shadow Secretary of State for the Environment, has hit out at Labour's proposed cuts to flood defence spending.
Munich Re posts stable third quarter
Global reinsurer Munich re has posted a combined ratio of 92% for its third-quarter reinsurance operations in 2006 on gross written premiums unchanged from the comparable in 2005 at €5.5bn.
ABI welcomes joint FSA/Treasury insurance plans
A discussion paper published today by HM Treasury and the FSA on the supervision of insurance groups, has met with support from the ABI.
Government promises more competitive regulatory structure
Economic Secretary to the Treasury, Ed Balls, and Financial Services Authority Chief Executive, John Tiner, today announced the UK's proposals to change the approach to insurance supervision which aims to minimise the administrative burden on insurance…
Towergate confirms major deal
Towergate Partnership announced a major addition to its Underwriting Division following the acquisition of Agency Underwriting Limited based in Colchester. AUL controls £24m GWP, with specialisms in underwriting buy-to-let, specialist property owners,…
‘Lucky’ Buffett posts bumper third quarter
The sparse North-Atlantic hurricane season has meant Berkshire Hathaway’s reinsurance businesses made a pure pre-tax underwriting profit of $912m in the third quarter of 2006.
New head of insurance at Hugh James
Law firm Hugh James has appointed Philip Dicken as head of Insurance to drive the development of its products and services for insurers, brokers, captives and others in the sector.