News
Money Supermarket entrepreneur to sell 18.5% of his stake
Simon Nixon, co-founder of price comparison website Money Supermarket, is to net £200m after selling 18.5% of his stake in the business.
BBC Watchdog criticises insurers for ‘aggressive tactics’
Insurers have come under fire from BBC Watchdog for not paying claims.
Giles Insurance Brokers reports £2.25m loss
Giles Insurance Brokers has reported a £2.25m loss for the year to 31 August in 2012 compared to a profit of £998 000 in the previous year.
Insured flood losses likely to be below 2002 level
The macroeconomic losses from the floods in central Europe are likely to far exceed the insured losses, Munich Re’s chief executive Niclaus von Bomhard said.
Study suggests majority of Bangladeshi factories vulnerable
A survey by the Bangladesh University of Engineering and Technology suggests around 60% of garment factories in Bangladesh are vulnerable to collapse.
Ex-Axa director joins Hiscox Europe board
Hiscox has appointed former Axa director Florence Tondu-Melique as its new European chief operating officer.
Hiscox appoints Axa's Tondu-Melique as European chief operating officer
Hiscox has appointed Florence Tondu-Melique as its new European chief operating officer.
CFC expands its traditional professions offering
Underwriting agency CFC has added brokers, accountant and estate agents to its professional liability suite in a move to expand its traditional professions insurance offering.
Willis names new directors ahead of Plumeri board retirement
The Willis board has nominated Francisco Luzón and Jaymin Patel as directors of the company, which completes the slate of directors that will be presented to shareholders at the upcoming annual general meeting.
Deadly May tornado season in US results in huge losses
Record breaking tornadoes and hail in the US caused billions of dollars of damage and many fatalities in Oklahoma and Texas in May.
Cyclone Mahasen destroyed over 100 000 homes
Over 130 000 poorly constructed homes in Bangladesh were destroyed by the powerful cyclone in May.
'Up or out' approach behind insurance career progression satisfaction
Insurance professionals have been found to be the happiest with their career progression, according to a survey of the UK workforce.
Insurers failing to adapt to interest rate challenges survey finds
European insurers are concerned with the low interest rate environment but many are missing opportunities to diversify, according to a survey of insurance chief investment officers.
May US storms to cost insurers $4bn: Aon Benfield
Storms which ravaged the US through May are likely to cost the insurance sector as much as $4bn according to Aon Benfield’s cat model centre.
Bought By Many and Petplan combine on pug-napping cover
Increasing numbers of pug thefts and prevalent health problems have driven Brought By Many and Petplan to launch special cover for the breed.
Latvia given greenlight to adopt euro in 2014
The European Commission said today that Latvia is a good candidate for euro adoption, having successfully overcome its macroeconomic imbalances.
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Besso expands into Australia following Sterling investment
Lloyd’s broker Besso has stepped up its foray into international markets with a minority investment in Sterling Insurance in Australia.
Allianz buys Swedish windfarm for undisclosed sum
Allianz said on Wednesday it has bought a Swedish windfarm taking its investment in renewable energy in Europe above €1.5bn.
Cooper Claridge Ware co-founder promoted to CEO
Hong Kong-based health insurance broker Cooper, Claridge-Ware has appointed co-founder Christopher Claridge-Ware as the company’s new chief executive officer.
Biba backs raised penalties for uninsured drivers
Increased fines for uninsured drivers have been welcomed by the British Insurance Brokers Association.
“Significant damage” expected from devastating European floods
Catastrophe modelling firm Eqecat has warned the industry to expect significant damage from the floods that have inundated Germany, Austria and the Czech Republic over the past week.
Transport minister unveils fixed penalty rise for motoring offences
Careless motorists who put other road users at risk and those that get behind the wheel without insurance face on-the-spot penalties under new measures revealed today by road safety minister Stephen Hammond.
Manchester Police to inform insurers if burglary victims at fault
Insurers may be automatically informed if a burglary occurs at an unsecured property under new plans from Manchester police.