News
Hill Dickinson appointed CHO associate member
Hill Dickinson has joined the Credit Hire Organisation as an associate member with fraud head Peter Oakes coming on board the CHO's executive committee to advise on counter fraud strategies.
Regulatory spotlight leads to IUA delegated authority group
A London company market committee run by the International Underwriting Association is being established to discuss delegated underwriting authorities.
R&Q to buy IC Insurance for £17m
Randall & Quilter is to acquire IC Insurance from indirect owners Astra Zeneca UK and Imperial Chemicals Industries.
Brit plans to delist on 23 June
Brit has written to the UK Listing Authority and London Stock Exchange for its shares to be delisted.
Amount spent on insurance transactions has soared in 2015
The year so far has seen the most amount of money and shares spent on insurer, reinsurer and broker acquisitions since 2008 according to financial information group Dealogic.
Axa to divest €500m of coal assets by end of 2015
Henri de Castries, the global CEO of Axa, has announced the insurer will sell €500m of its holdings in coal companies over climate change concerns.
Insurers to suffer COR deterioration as motor premiums plummet by £400m
Motor insurers are facing a couple of challenging years in which the market average combined operating ratio could deteriorate to 105%, according to Deloitte calculations based on declining motor premiums.
Ex-insurance employee given suspended sentence for fraud
A former City insurance employee who made six sham insurance claims for designer goods and gadgets has been handed a suspended jail term and ordered to repay tens of thousands of pounds to his victims at the Old Bailey.
ABI speaks out against FCA survey results
The Association of British Insurers has hit back against the findings of a report by the Financial Conduct Authority on the relationship between insurers and small and medium enterprises.
Hatton Garden raid loss unlikely to be known for some time
The true scale of the Hatton Garden jewellery raid is unlikely to be known "for some time", according to Cunningham Lindsey's high net worth specialist Simon Willsmer.
Social media marketing must be 'authentic', warns Facebook boss
Social media can be a valuable marketing tool for businesses but must be reflective of their identity to truly resonate with customers, according to Facebook’s UK head of financial services.
Generali unveils German repositioning
Generali has embarked on a strategic repositioning of its operations in Germany that it hopes will enhance the company's competitive position there.
Zurich on acquisition hunt with £1.9bn excess capital
Zurich Group has $3bn (£1.9bn) in excess capital it intends to spend by the end of 2016 either through merger and acquisition activity or return of capital to shareholders.
Livestock on pavements law could hold up driverless car trials
Government lawyers are looking to redraft the Highways Act 1835 to allow the trails of driverless cars to proceed.
FCA approves Quindell professional services arm sale
The Financial Conduct Authority has approved the £640m sale of Quindell's professional services division to Australian law company Slater & Gordon.
Besso looks to make Dubai move
Besso Insurance Group is in the process of obtaining permissions to establish a reinsurance broking and managing general agency in Dubai.
FCA review finds claims service not working for SMEs
A Financial Conduct Authority review of insurance claims handling for SMEs has found the claims service is not consistently working in the interests of many businesses, resulting in a poor claims experience.
Fundamental changes to Medco ruled out despite early criticism
The Ministry of Justice is said to be reviewing Medco’s integration but will not consider a major overhaul amid criticism from law firms over the whiplash portal’s performance in the six weeks since its inception.
S&P grants Ageas A- rating with a positive outlook
For the first time since it withdrew its public information ratings in November 2014, Standard and Poor's has assigned Ageas an interactive rating of A- with a positive outlook.
Claims portals show drop in new claims
All Ministry of Justice claims portals registered double digit reductions in the number of new claims submitted over the first three months of the year, after several months of consecutive increases.
Biba finds 9% jump in black box policy sales
The number of live black box telematics policies has increased by 9% to 323,000 from 296,000 in December 2013, according to research from the British Insurance Brokers' Association.
Xchanging launches TPA adjusting service for London market
Outsourcing provider Xchanging has launched a new global third party administration adjusting service in the London market.
Hastings sees increases in first quarter GWP and revenue
Hastings has posted a 23% increase in gross written premiums for the first quarter of 2015, as well as a rise in the number of customers on its books.
Barriers to entry for brokers still too low, claims Biba deputy chair
Barriers to entry for the insurance broking industry remain too low, according to British Insurance Brokers' Association deputy chairman and Una Alliance director Tim Ryan.