News
Zenith launches ‘world first’ motor sharing product
Zenith Insurance has teamed with Easy Car Club to launch what it claims is a world first cover for car and van owners looking to participate in the vehicle sharing schemes.
Markerstudy completes £20m Supercover buy
Markerstudy has confirmed an agreement to acquire gadget insurance broker and claims administrator Supercover in a deal worth £20m.
Mixed results for LV as GWP drops
LV has reported £720m general insurance gross written premiums for the six months ended 30 June 2014; a drop from £748m for the same period last year.
RFIB hires director for marine international division
Lloyd’s (re)insurance broker RFIB has appointed Malcolm Gray as a divisional director of its marine international division.
Hiscox posts drop in pre-tax profit for H1
Hiscox posted a reduction in gross written premium to £978.9m for the first six months, down from £1.02bn in the first half of 2013.
Aspen shareholders reject Endurance proposals
Endurance’s attempted takeover of Aspen has stalled after the overwhelming majority of Aspen shareholders participating in a consent solicitation rejected the firm’s proposals.
Tourism Authority of Thailand launches travel insurance
The Tourism Authority of Thailand has teamed up with four Thailand insurers to offer online travel insurance.
Unipart Automotive axes 68% of staff as it enters administration
One of the UK’s largest independent suppliers of car parts, workshop consumables has entered administration making 1244 staff redundant.
Aon Q2 broking operating income up 7%
Aon has reported a 7% increase in operating income for its broking business in Q2 of 2014, with internal savings driving the improvement.
Ten opens Glasgow regional office
Ten Insurance network has opened a regional office in Glasgow to be led by former Giles branch manager Kevin Donnachie.
Add ons review ‘gloomy reading’ for motor insurers
A regulatory review of the sale of general insurance add ons makes for “gloomy reading” for insurers including Direct Line, Esure and Admiral according to one analyst.
FCA holds to claims ratio publication plans
The Financial Conduct Authority has reiterated that the publication of claims ratios remains its “preferred measure” for assessing the efficacy of general insurance add on products.
Deputy MD of Towergate's care division departs
The managing director of Towergate’s care division Sue Lee has resigned after ten years at the broker.
Crawford unveils ‘transparent’ Contractor Connection brand
Crawford has unveiled a new, redesigned network model that will see insurers offered fixed network fees.
Axa fraud boss Gaywood heads for the exit
Axa head of counter fraud for direct and partnerships Steve Gaywood is to depart the business, Post has learned.
LV investigation leads to jail sentence for fraudster
A Wolverhampton-based fraudster has been sentenced to 12 months in prison after attempting to claim compensation for a crash-for-cash car accident.
Independent midwives agree commercial PI solution
Independent midwives have agreed a commercial professional indemnity insurance arrangement allowing them to continue practising under new EU legislation.
Wreckage of crashed Air Algerie flight found
The wreckage of a crashed Air Algerie flight from Burkina Faso to Algiers was found over Mali yesterday.
AIA beats profit forecast
Hong Kong-based life and health insurer AIA's profits fell 20% in the first half of 2014 which was better than analysts' expectations of 28%.
Hyperion recruits Berresford as non-exec
Hyperion has recruited Ann Berresford as a non-executive director with immediate effect.
Ana Cap completes Brightside acquisition
European private equity firm Ana Cap Financial Partners has completed its acquisition of broker Brightside Group.
Brokers risking profit through missed calls
Brokers are risking £1.3m of profit by failing to answer customer telephone enquiries quickly enough, technology firm Callstream says.
Aviva and Vodafone agree seven-year deal
Aviva has signed a multi-million pound seven-year deal with Vodafone to provide a range of services including cloud storage, conferencing services and instant messaging.
War risks market faces 'substantial rate increases' in wake of MH17 loss
The war risks market is likely to experience “substantial rate increases” following the total loss of Malaysia Airlines flight MH17, according to a report by AM Best.