News
Xchanging hires director of change for insurance
Xchanging has appointed John Niblett as insurance change director for its insurance sector business.
Purchasing financial products a worry for 23% of consumers
According to research by independent financial research company Defaqto, 23% of people are worried about purchasing a financial product that is not right for them at the same time, 49% do not necessarily understand the features of products they own.
Axa prepares to screen £20m marketing campaign
Axa is preparing to launch a £20m TV marketing campaign across all of its UK business.
London market technology provider launches cloud offering
London Market technology firm TriSystems has launched an electronic underwriting service called Lime-St.com For underwriters to complement its broking platform.
Insurers face payouts over ‘tainted’ Autofocus reports
Major insurers face huge payouts to credit hirer Accident Exchange after a judge ordered “thousands” of cases involving “tainted” Autofocus reports to be heard by the Court of Appeal.
Fonsai downgraded to 'BB' along with main subsidiary
Italy’s second largest motor insurer Fondaria-Sai has been downgraded from ‘B+’ to ‘BB’ along with its main subsidiary Milano Assicurazioni.
Ex DA Constable MD joins syndicate 2525
Whittington Capital Management syndicate 2525 has appointed Stephen Fitzgerald to develop business in UK regions not currently accessed through the Lloyd’s broker channel.
Lloyd's to spend £150m on modernisation plans
The Lloyd’s and London Market is considering a £150m overhaul of its processes in a bid to modernise operations but this could render Xchanging’s services redundant.
First Assist "regrets" lack of clarity on Laspo bill
Legal expenses provider First Assist has welcomed the six month delay to the Legal Aid, Sentencing and Punishment of Offenders bill stating it was “a limited reprieve” for those making claims next year.
Arc set to rebrand
The Association of Run-Off Companies has obtained in-principle permission from the FSA and Companies House to change its name to Insurance and Reinsurance Legacy Association, subject to a forthcoming extraordinary general meeting.
Biometrics organisation wants to found Europe-wide network
The "European Association for Biometrics” wants to found a Europe-wide network to bring together industry, regulators and user groups.
Thirty insurers linked to Costa Concordia disaster
More than 30 insurers are likely to carry the cost of stricken Costa Concordia cruise ship.
Newly acquired Chesterfield eyes further expansion
Lloyd’s broker Chesterfield, recently acquired by HW Kaufman Financial, plans to “more than double in size” in the next two years.
Mapfre IDR downgraded following sovereign
Fitch Ratings has downgraded the issuer default rating for Spanish insurer Mapfre SA and its core subsidiaries from ‘A-‘ to ‘A’.
Generali could be downgraded if Italy's IDR falls any lower
A further sovereign downgrade for Italy is likely to result in a downgrade for Italian insurer Assicurazioni Generali, ratings agency Fitch has said.
Jackson quits Carole Nash director role
Commercial director for Carole Nash, Simon Jackson, has quit after four years in the job.
Websure completes R&Q Marine Services implementation
Specialist insurance software provider Websure has completed the implementation and launch of R&Q Marine Services which was formed when the yacht and marine trade teams portfolio was transferred from Underwriting Risk Services.
Towergate 'financially rock solid' despite IDR downgrade warning
Towergate chief financial officer Ian Patrick has described his firm as being “comfortably within the expected range” after Fitch Ratings reaffirmed the broker’s issuer default rating at ‘B’, but changed the outlook from stable to negative.
Doha Insurance reports 9% net profit rise
Doha Insurance Company (DIC) has seen its net profit rise 9% to Q65.85mn, and has recommended 30% bonus shares to shareholders.
CILA launches young adjusters group
The Chartered Institute of Loss Adjusters has launched a special interest group for young adjusting and claims personnel.
French P&C sector can weather 'economic headwinds'
Moody's has changed its outlook for the French property and casualty sector from negative to stable, saying it expects better 2011 underwriting results for the sector than the previous two years.
Laspo Bill suffers six-month delay
The Legal Aid Sentencing and Punishment of Offenders Bill will not be implemented until April 2013, the government has confirmed.
Willis appoints MD for global solutions unit
Willis has recruited Bruce Trigg as managing director of its global solutions team, effective 1 April.
Willis targets multinationals with new MD of Global Solutions
Global broker Willis has appointed Bruce Trigg as managing director of Global Solutions, with effect from 1st April 2012.