News
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.
Direct Line boss praises PM motor premiums meeting
Direct Line chief executive Paul Geddes hailed last night’s meeting with Prime Minister David Cameron as a “step in the right direction”.
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…
Houghton departure triggers new Aspen board search
Aspen has begun the search for a new chief financial officer to succeed Richard Houghton, who will be leaving the company effective 29 February to pursue other opportunities.
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.
PM and insurers unveil six point plan after motor premium summit
The Prime Minister has committed to tackling the compensation culture, reducing legal costs and cutting health and safety red tape.
Axa’s Evans says David Cameron meeting ‘a great day for motorists’
Axa UK boss Paul Evan has described the insurers’ meeting with Prime Minister David Cameron as “a great day for motorists”.
Bearing Point hires former Ernst & Young consultant for insurance head role
Business consulting firm Bearing Point has appointed former Ernst & Young consultant Christopher Ling to head of insurance in the UK.
Law firm accuses PM motor premium war of limiting access to justice
Spencers Solicitors fears the Prime Minister's approach to tackling the rising cost of motor insurance will "chip away at the public's right to justice under the law".
Broker shows support for PM and insurer motor premiums meeting
Wales-based Motaquote has highlighted the significance of telematics ahead of the Association of British Insurers' meeting with Prime Minister David Cameron on rising motor insurance premiums.
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).
Aon Risk Solutions named global risk and insurance broker to Petrofac
Aon Risk Solutions has been appointed by Petrofac to provide global risk management and brokerage services.
Seán Quinn accused of contempt of court
The Irish Bank Resolution Corporation, formerly Anglo Irish Bank, has filed contempt of court proceedings against former Quinn Insurance boss Seán Quinn, his son Seán Quinn jnr, and his nephew Peter Darragh Quinn.
Young Marmalade answers young driver premium problem
Specialist young driver insurer Young Marmalade has shown its scheme can reduce premiums for young drivers.
ABI to highlight insurer cost pressures at PM meeting
The Association of British Insurers has welcomed the chance to tell Prime Minister David Cameron "the unacceptable cost pressures" insurers face at the Downing Street meeting this evening.
Quinn could face jail time over contempt of court charges
Contempt of court proceedings have been started against Sean Quinn, former owner of Irish insurer Quinn.
Barrere leaves Swinton director role
Former MMA Holdings UK joint chief executive Bernard Barrere has seen his appointment as director at Swinton terminated, according to Companies House filings.
Trygg-Hansa and Codan appoint COO from Alka
Trygg-Hansa and Codan, RSA's Scandinavian businesses, have appointed Niels Mortensen as their chief operating officer.
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.
Indian insurance industry to go electronic in 2013
India's insurance sector could move into a paperless system next year, as the Insurance Regulatory and Development Authority has confirmed it is currently choosing data repositories.
MMA boss Barrere departs double director role
Bernard Barrere's tenure as a director of two of MMA Holdings UK's insurance businesses has come to end, according to reports filed at Companies House.
FATCA a significant operational challenge for European insurers
The proposed US Foreign Account Tax Compliance Act, published on 8 February, still remains a significant operational challenge for insurers, according to Ernst & Young.
Lloyd's takes $2.2bn hit for Thai floods
Lloyd's of London estimates its net claims from the flooding in Thailand last year to be $2.2bn.