News
EU extends Iran sanctions to natural gas
The European Union has bolstered sanctions against Iran, including banning the importing of natural gas from the country owing to a "lack of progress in nuclear talks".
RSA names UK commercial finance head
Global insurer RSA has appointed Mark Laughton as finance director for UK commercial business.
DLG shares enter unconditional trading
Direct Line Group's share capital of 1.5 billion shares has been admitted to the official list of the UK Listing Authority today.
Proposal to remove tax insurance check branded 'absurd'
The AA has critcised the Driver and Vehicle Licensing Agency's proposal to remove the insurance check when car owners apply for a tax disc.
R K Harrison opens Yorkshire office
Broker R K Harrison Insurance Services has set up a new regional base in Richmond, North Yorkshire.
Ergo to cut 600 jobs over three years
German insurer Ergo Versicherungsgruppe, a unit of reinsurer Munich Re AG, will cut 200 back-office positions every year for the next three years.
Galbraith to bow out of Biba next year
Eric Galbraith is to step down as chief executive of the British Insurance Brokers' Association in 2013, after leading the association for nearly 10 years.
UK GI market under pressure to focus on pricing
Market conditions for UK non-life insurers remain challenging as the difficult economic environment curbs demand for cover and insurers can no longer rely on reserve releases to improve profitability.
Groupama appoints household development underwriter
Groupama Insurances has appointed Kirsty Williams in a bid to target niche markets.
Biba returns to London for 2013 conference
The British Insurance Brokers' Association has confirmed that its 2013 conference will take place in London on 15 and 16 May.
Equinox Global boosts underwriting capacity
Trade credit Lloyd's coverholder Equinox Global has increased its available capacity to underwrite by more than 30%.
Third-party injury claims rise 8% despite fall in reported accidents
Eleven of the top 20 postcodes with the highest rate of third-party injuries are in Birmingham, according to new actuarial data.
Liberty Syndicates adds to specialty products team
Liberty Syndicates has appointed Susan Barber to manage and build on its personal accident and pecuniary lines treaty portfolios in the Lloyd's market, part of its specialty products underwriting division.
Tesco Underwriting inks windscreens deal
National Windscreens has signed a deal to serve as Tesco Underwriting's preferred glass repair and replacement supplier.
Arista ramps up online trading capabilities
Commercial lines underwriting specialist Arista Insurance has upgraded its online trading capabilities to offer brokers full functionality across its product range.
Airmic members increasingly rely on brokers for BI help, report finds
Airmic's members are becoming more engaged with brokers when securing the correct property damage and business interruption cover, but there is still some "ambiguity" as to who should check policy wordings.
Bollington net profit rises to £1.4m
Groupama-owned broker Bollington Insurance saw net profits rise by almost 50% over 2011.
Indonesia to see steady premium growth in 2012
Indonesia's life and non-life insurance sectors are in a stable position, underpinned by a developing domestic market, sustainable growth in premiums and strengthening regulatory requirements.
Religare Health Insurance opens for business in India
Religare Health Insurance has launched as a standalone health insurance player in the Indian market.
Fewer road traffic accidents force body shops out of the market
Specialist research firm Trend Tracker said body shops are finding it tougher to make a profit now than in the past 20 years, primarily owing to motorists clocking up fewer miles and installing safety systems.
Lemma Insurance Company downgraded
Lemma Insurance Company of the Ukraine has had its issuer credit rating downgraded to 'bb' from 'bb+' and its financial strength rating of B (Fair) affirmed. The outlook for both ratings has been revised from stable to negative.
Renewable energy broker Renewable Risk Advisors launches
A new renewable energy broker has opened for business in the UK to give clients a more "bespoke" level of service.
Quindell acquires litigation law firm
Quindell is to buy litigation specialist Pinto Potts Solicitors, subject to approval from the Solicitors' Regulation Authority and the Financial Services Authority.
UK Insurance rating remains stable after DLG IPO
Direct Line Group's UK Insurance is unlikely to see its Moody's A2 insurance financial strength rating change despite the insurer revealing the price of its initial public offering of ordinary shares.