News
Loss of Post Office contract forces D&G to close call centre
Takeover target Domestic and General has announced that it plans to close its third party call centre in Slough.
Gable to resume trading on AIM within weeks
Gable has announced that it will publish its results no later than 22 August. The construction specialist has had its sahres suspended on AIM for over amonth now pending the results.
Direct Group in £40m MBO
Derek Coles has successfully led the management team of Direct Group, a provider of corporate and affinity services to the insurance sector, in acquiring the business in a £40 million deal with the backing of mid-market private equity firm LDC.
UK firms uninterested in environmental liability cover
Spain, Germany and Italy are leading the way in the implementation of the EU Environmental Liability Directive and are showing the most interest in purchasing environmental cover, broker Willis has said. This is in contrast to the UK, where insurers…
Towergate warns of insurer battle of nerves as sales hit £709m
Sales at Towergate Partnership increased 30.9% to £709m of gross written premium for the first half of the year. However, the broking group insurer said the impact of its new business had been "somewhat offset" by the continued soft market rates.
Munich Re announces $2.9bn profit
Munich Re has announced a profit of €2.1bn ($2.88bn) for the first half of 2007.
New rehab code sets out timetable for insurers
A revised version of the Rehabilitation Code launched today which set out a timetable for the key stages in implementing care.
CCV takes GWP to over £70m with Ajax buy
Cullum Capital Ventures has bought Liverpool based £3m premium income intermediay Ajax Insurance Brokers.
Offshore regulators promise greater co-operation
The Jersey Financial Services Commission and the British Virgin Islands Financial Services Commission have signed a memorandum of understanding that will further co-operation between the two regulatory bodies.
Survey: 72% of brokers say flooding will ease premium increases
A broker survey by NIG has revealed that 72% of brokers said that the poor weather would make it easier for them to sell in premium increases both later this year and next. A further 22% predicted no change.
Bedford to head UK Fac operation
Rupert Bedford has been appointed as head of UK broking at Guy Carpenter's facultative arm, GCFac. Mr Bedford who was previously at Aon, will be based in London, reporting to Mark Newman, head of GCFac UK, and will be responsible for overseeing broking…
Lancashire highlights diverse book after profits rise
Lancashire Holdings has announced its results for the second quarter of 2007 and the six month period ended 30 June 2007, with income rising sharply off the back of a 50% rise in net written premiums.
Appointments at Junction
Affinity provider Junction has appointed two further relationship managers.
Towergate adds £75m GWP after swoop for market leading broker
Towergate Partnership today announced the acquisition of London based Hayward Aviation, which it claims is the UK’s largest general aviation broker. All 80 of its staff and senior management will join the Towergate Group.
London broker calls in administrator
Mike Walker and John Wardrop of KPMG Restructuring’s Insurance Solutions practice have been appointed Joint Administrators of London market broker Park London.
Marsh acquires Finnish broker
Marsh has announced the acquisition of Heath Lambert Finland Oy (HLF Oy) – the country’s third largest insurance broker.
RSA issues statement on home insurance premium rates
Royal and Sun Alliance has attempted to clarify its position on home insurance prices in the wake of recent flooding.
BIBA slams home insurance premium hike
The British Insurance Brokers’ Association has slammed announcements from insurers that property premiums will increase by 10% following the floods in the UK this summer.
Oxygen launches UK and Ireland property facility
Oxygen Insurance Managers (Oxygen), the London intermediary’s agency operation, has launched a new UK and Ireland property facility which is to be headed up by Richard Wise, the former managing director of Alec Finch (London).
Hiscox launching new ad campaign
Hiscox will launch its new national advertising campaign on TV and in print on 6th August.
Groupama enhances Optima Car product
Groupama Insurances has made a range of enhancements to Optima Car, its private motor product, designed to appeal to lower risk motorists.
Claims adjuster appointed at Liberty
Liberty Syndicates has announced the appointment of Alan Worboys, who has joined the company as a claims adjuster.
RBSI reports 14% drop in partnership and broker business
Royal Bank of Scotland Insurance this morning said results in the first half were held back by the £125m impact of June's floods, with operating profit falling by 27% to £255m.
NU hikes property rates
Norwich Union is to raise domestic property insurance premiums by an average of 10% from next week, according to media reports. The company told the BBC's Today Programme that home improvement, increasing numbers of bathrooms in homes, and expensive…