News
Market moves: Brokers lead the recruitment charge
Another action-packed week in terms of recruitment saw the vast majority of movers and shakers switch roles in the broking market.
Travelers makes redundancies in Surrey as work is transferred to regional offices
Travelers has confirmed it is making redundancies in its Surrey headquarters as part of a restructure that aims to push greater underwriting authority out to its UK regional network and closer to its broking partners.
Airmic backs disclosure proposal
The Law Commission's proposal to water down commercial policyholders’ duty of disclosure has won the backing of John Hurrell, chief executive of risk management body Airmic, who believes that potential law changes will lead to a shift in the underwriting…
Groupama UK criticised for bid to distance itself from French parent
Groupama's UK operation has been accused of "ignoring its financial history" by attempting to distance itself from the group’s Standard & Poor's BBB- downgrade.
Go Compare founder rules out Esure deal
Go Compare founder Hayley Parsons has dismissed claims that Esure boss Peter Wood will acquire the business, stating the company is very much her "baby" and will not be taken over.
Zurich appeal dismissal opens door for insurers in fight against fraud
Zurich's claims fraud and investigations manager Scott Clayton, pictured, has vowed to "take the positives" from this morning's failed Supreme Court appeal by reinforcing the message that future fraudsters will face prison sentences.
"Disappointment" for insurers in Fairclough v Summers case
The UK's Supreme Court handed down judgment today in a seven-year battle over an exaggerated insurance claim.
Liberty Mutual joint venture to start writing Indian business
Liberty Mutual Insurance joint venture, Liberty Videocon General Insurance Company Ltd, has been granted regulatory approval to begin operating in India.
New Eiopa guidelines aim to harmonise supervisory practices
The European Insurance and Occupational Pensions Authority published a set of guidelines today aiming to establish consistent, efficient and effective supervisory practices, and ensure the uniform and consistent application of EU law.
Fairclough judgment may lead to further litigation
Law firm Hogan Lovells said the judgment represents a "limited step forward" in fighting insurance fraud and may lead to further litigation.
Flotation deemed 'only option' for Direct Line Group divestment
Analysts have rubbished recent claims that Direct Line Group could be bought by a private equity house, stating that the insurer has to go ahead with the planned initial public offering to obtain the best price and appease UK taxpayers and the European…
SRA boosts ranks as ABS demands outstrip forecast
The Solicitors Regulation Authority has urged companies interested in converting to an alternative business structure to contact them before setting out business plans, after being flooded by expressions of interest.
Former Indie deputy MD Condon passes away
The former Independent Insurance deputy managing director Philip Condon, pictured right, passed away at the weekend aged 63.
Hardy suspends Singapore underwriting amid refocus on US risk
Hardy Underwriting is refocusing its property treaty business on US risk and away from the international business that brought catastrophic losses over the past two years.
Go Compare annual profit rises 15%
Go Compare's pre-tax profit increased 15% year on year to £34.7m in 2011, while turnover rose to £108.9m (2010: £101.5m).
Sean Quinn guilty of contempt charge
Sean Quinn, his son and nephew could face jail after being found in contempt of court for putting part of an international property portfolio beyond the reach of the former Anglo-Irish Bank, according to reports.
Prudential CEO to become ABI chairman
Tidjane Thiam has been appointed chairman of the Association of British Insurers with effect from 3 July.
Global non-life premiums expanded 1.9% in 2011
Global reinsurance premiums declined 0.8% in real terms in 2011, according to Swiss Re's latest Sigma study.
RK Harrison secures £30m bank facility
RK Harrison Group has secured a £30m refinancing deal with Clydesdale Bank and Royal Bank of Scotland.
Zurich "disappointed" by Supreme Court decision
Zurich has responded to the Supreme Court judgment in the appeal of Fairclough Homes v Shaun Summers.
PE interest to shake up motor insurance market
Growing interest in motor insurance from private equity firms is likely to increase dynamism in the sector, according to Ernst & Young.
R&Q settles Ace legal dispute
Randall & Quilter has reached an agreement in principle, which would resolve all of its outstanding legal cases with various companies of the Ace group.
Emerging markets drive global premium growth
Economic growth in emerging markets and selective rate increases in developed markets helped drive a 1.9% increase in global non-life insurance premiums in 2011.
Crawford on site at Oldham gas explosion
Crawford said that approximately 100 homes have been evacuated while rescue work and inspection of property is undertaken following a gas explosion which killed a young boy and destroyed two houses in Oldham yesterday.