News
Polish treasury wants $1.6bn in dividends from state-owned firms
Poland's treasury ministry plans to receive PLN5bn ($1.6bn) in dividends next year from companies under its control in order to help plug the budget gap, treasury Minister Mikolaj Budzanowski said on Friday.
OFT decision hit DLG float pricing, say analysts
The referral of the motor market to the Competition Commission has had a direct impact on Direct Line Group's pricing estimations as the company continues plans to float up to 33% of total share capital.
'Signposting' agreement has not worked, says Age UK
The 'signposting' agreement introduced by the Association of British Insurers in April is not working effectively, according to a leading age charity.
Law firms hail OFT for looking at bigger picture beyond whiplash
Lawyers have continued to highlight their support for the Office of Fair Trading's decision to refer the motor insurance industry to the Competition Commission.
DLG expects £2.7bn value on flotation
Direct Line Group has announced a price range for its planned initial public offering of 160p to 195p per share.
NHBC names Mike Quinton as CEO
Mike Quinton has been appointed chief executive of the National House Building Council.
Hannover Re develops reinsurance for Ukraine market
German insurer Hannover Re has developed a bespoke reinsurance programme for the Ukranian market, according to a report by Romania-based news agency Xprimm.
OFT probe "will open a can of worms", says law firm
A law firm has suggested that the Office of Fair Trading's decision to refer the private motor insurance market to the Competition Commission could leave the policyholder worse off.
Helphire losses fall 83% as company knocks £23m off net debt
Helphire has posted a statutory loss before tax of £6.3m for the full year ending 30 June 2012, an 83% improvement on the £34.1m loss reported for the same period last year.
Fraudsters brought to book after investigations by Hill Dickinson unit
Fraud unit bosses at Hill Dickinson have revealed that of the 298 suspected organised motor fraud ring claims they have investigated this year 167 have been rejected as proven fraud.
Allianz shuns European sovereign debt
German insurer Allianz will eschew European sovereign debt when seeking future investments, preferring to invest in energy and infrastructure projects, chief executive Michael Diekmann said this week.
CC investigation should "strip out excessive costs", says Aviva claims boss
Aviva has welcomed the Office of Fair Trading's decision to refer the private motor insurance market to the Competition Commission.
Marketform appoints first chief risk officer
Lloyd's insurer Marketform has appointed Jubilee Managing Agency's chief actuary Veekash Badal as its first chief risk officer.
Zurich hands commercial claims role to MYI
Loss adjuster MYI has landed a share of Zurich's commercial claims work, a contract that was previously handled solely by rival Cunningham Lindsey.
Analysts reiterate 'buy' recommendation after 'excellent' H1 for Gable
Gable Holdings has this morning reported a 26% increase in gross written premium of £15.4m in the first half of 2012, in a set of results that also show a 55% rise in pre-tax profit to £3.2m.
Covea's Reader makes jobs cut pledge
The merger between MMA and Provident will not result in mass redundancies, chief executive of the newly created Covea Insurance James Reader has told Post.
ABI backs Competition Commission credit hire investigation
The Association of British Insurers has thrown its support behind the Office of Fair Trading's decision to refer the motor market to the Competition Commission.
Competition investigation outcome could 'mean policyholders lose out', says CHO boss
The Credit Hire Organisation has said that the Competition Commission investigation into the UK motor insurance market could seriously disadvantage policyholders' access to justice and force premiums to rise.
OFT refers 'dysfunctional' motor market to Competition Commission
The OFT has referred the UK's private motor insurance market to the Competition Commission for further investigation amid concerns that the market is not working well for motorists.
Iran insures South Korean refiner hit by sanctions
South Korean firms are loading Iranian crude again after a gap of nearly two months caused by the European Union embargo on insurance cover.
Kiln appoints Garland as chief operating officer
Kiln, the international specialist insurance and reinsurance underwriting group and part of Tokio Marine, announced today that it has appointed Denise Garland as chief operating officer.
Lemma Insurance to be appointed with liquidator tomorrow
Gibraltar-based Lemma Insurance Company is expected to be appointed with a provisional liquidator tomorrow to wind up the business.
Indian regulator supports raising FDI cap
India's insurance regulator has echoed calls from insurers to raise the country's foreign direct investment cap to 49% from 26%, saying the injection of foreign funds would benefit the country's insurance industry.
Lloyd's returns to profit for H1 2012
Lloyd's posted profit of €1.897bn for the first six months of 2012, following a benign first half with no major claims from natural catastrophes.