News
New Eiopa guidelines aim to harmonise supervisory practices
The European Insurance and Occupational Pensions Authority published a set of guidelines today aiming to establish consistent, efficient and effective supervisory practices, and ensure the uniform and consistent application of EU law.
Fairclough judgment may lead to further litigation
Law firm Hogan Lovells said the judgment represents a "limited step forward" in fighting insurance fraud and may lead to further litigation.
Flotation deemed 'only option' for Direct Line Group divestment
Analysts have rubbished recent claims that Direct Line Group could be bought by a private equity house, stating that the insurer has to go ahead with the planned initial public offering to obtain the best price and appease UK taxpayers and the European…
SRA boosts ranks as ABS demands outstrip forecast
The Solicitors Regulation Authority has urged companies interested in converting to an alternative business structure to contact them before setting out business plans, after being flooded by expressions of interest.
Former Indie deputy MD Condon passes away
The former Independent Insurance deputy managing director Philip Condon, pictured right, passed away at the weekend aged 63.
Hardy suspends Singapore underwriting amid refocus on US risk
Hardy Underwriting is refocusing its property treaty business on US risk and away from the international business that brought catastrophic losses over the past two years.
Go Compare annual profit rises 15%
Go Compare's pre-tax profit increased 15% year on year to £34.7m in 2011, while turnover rose to £108.9m (2010: £101.5m).
Sean Quinn guilty of contempt charge
Sean Quinn, his son and nephew could face jail after being found in contempt of court for putting part of an international property portfolio beyond the reach of the former Anglo-Irish Bank, according to reports.
Prudential CEO to become ABI chairman
Tidjane Thiam has been appointed chairman of the Association of British Insurers with effect from 3 July.
Global non-life premiums expanded 1.9% in 2011
Global reinsurance premiums declined 0.8% in real terms in 2011, according to Swiss Re's latest Sigma study.
RK Harrison secures £30m bank facility
RK Harrison Group has secured a £30m refinancing deal with Clydesdale Bank and Royal Bank of Scotland.
Zurich "disappointed" by Supreme Court decision
Zurich has responded to the Supreme Court judgment in the appeal of Fairclough Homes v Shaun Summers.
PE interest to shake up motor insurance market
Growing interest in motor insurance from private equity firms is likely to increase dynamism in the sector, according to Ernst & Young.
R&Q settles Ace legal dispute
Randall & Quilter has reached an agreement in principle, which would resolve all of its outstanding legal cases with various companies of the Ace group.
Emerging markets drive global premium growth
Economic growth in emerging markets and selective rate increases in developed markets helped drive a 1.9% increase in global non-life insurance premiums in 2011.
Crawford on site at Oldham gas explosion
Crawford said that approximately 100 homes have been evacuated while rescue work and inspection of property is undertaken following a gas explosion which killed a young boy and destroyed two houses in Oldham yesterday.
Quindell extends Silverbeck agreement
Quindell has broadened its partnership with Silverbeck Rymer to offer a joint outsourcing personal injury product to the UK claims market.
Supreme Court judgment on 'game-changing' claims stance expected this morning
Zurich claims bosses are heading to the Supreme Court this morning for the landmark judgment into whether the firm is permitted to refuse payment on the genuine element of a largely fraudulent claim.
Zurich video surveillance exposes fraudster
Zurich has released video surveillance footage showing that claimant Shaun Summers had faked his "life-changing" injuries.
Rural Insurance expands equine offering
Specialist agricultural insurer Rural Insurance has broadened its range of cover in the equine market in response to broker demand.
3i reaffirms Hyperion commitment amid rumours of cut-backs
Hyperion private equity backer 3i has brushed aside suggestions that it may abandon the international insurance intermediary group, following rumours of cost-cutting at the firm.
BGL appoints MD for own-brand business
The BGL Group has appointed Mark Townsend as managing director of Frontline, its business unit responsible for BGL brands including Budget and Dial Direct.
Europ Assistance MBO bosses unveil new insurance business
The team behind the management buy-out of Europ Assistance’s UK and Ireland arm and International Health Solutions has officially unveiled its new insurance and assistance services business Aria Assistance.
Insurers continue to safeguard cover for those taking predictive genetic tests
Thousands of people who undergo genetic tests for conditions such as Alzheimer's and cancer will continue to benefit when taking out insurance, thanks to an extended agreement announced today by Public Health Minister Anne Milton.