News
Ross to join Towergate in November as Gallagher dispute settled for £20m
The legal dispute between Arthur J Gallagher and former employees David Ross and Mark Mugge and independent consultant Christopher Keey has been resolved with Towergate and shareholder Highbridge to pay £20m in settlements.
Towergate reports £58m first half loss
Towergate's operating earnings decreased by 40% to £39m (H1 2014: £65m) for the six months ended 30 June 2015 alongside a 10% drop in revenues to £184m for the period.
Steadfast's full year profits climb 68%
Australian broking group and underwriting agency Steadfast posted an after tax profit of A$42.1m (£19m) for the most recent financial year, up 68% over last year's results.
Ecclesiastical records 92% rise in H1 pre-tax profit
Ethical insurer Ecclesiastical has delivered a 92% increase in pre-tax profit up to £35.3m in the first half of 2015 (H1 2014: £18.4m).
IT boss who hacked 900 Aviva phones jailed for 18 months
A computer firm boss who hacked 900 mobile phones belonging to Aviva staff has been jailed for 18 months.
Integro snaps up London-based MGA Entertainment Risk Management
International insurance brokerage and risk management firm Integro has acquired London-based managing general agent Entertainment Risk Management to add to its international entertainment practice.
Zurich deal represents 'excellent value' for RSA shareholders
Zurich’s proposed offer for RSA represents “excellent value” for RSA shareholders, according to analysts at Berenberg investment bank, but the case for Zurich shareholders is less compelling, they suggest.
PPI accounts for 55% of all FOS complaints in first six months
Claims managers have been blamed for fuelling payment protection insurance complaints as the latest figures from the Financial Ombudsman Service show PPI accounted for more than half of all grievances in the first six months of 2015.
Zurich proposes 550p a share cash offer for RSA
Swiss giant Zurich made a proposal this morning (25 August) to purchase RSA's entire share capital in cash for 550p a share, which RSA's board said it could recommend subject to further negotiations.
Ace promotes Ghaffar to Asia-Pacific distribution role
Ace has promoted Amir Ghaffar to vice president and head of corporate distribution, accident and health, Asia-Pacific.
Crawford's Allan to join QBE in Singapore
Global loss adjuster Crawford has made two senior appointments in Asia as the firm's Singapore general manager Martin Allan leaves for QBE.
Tokio Marine Kiln confirms Shoreham air crash liability as CAA imposes restrictions
The Civil Aviation Authority has implemented a series of temporary changes relating to UK civil air displays following a plane crash at the Shoreham Air Display on Saturday (22 August) for which Tokio Marine Kiln is the lead liability insurer.
Crawford CEO Bowman steps down after eight years in top job
Crawford & Company CEO and president Jeffrey Bowman is to exit the Atlanta-headquartered loss adjuster after more than 24 years of service with the company.
Towers Watson shareholders aim to block Willis merger
Towers Watson shareholders have filed several class action suits against the consultancy firm in the US over its planned merger with broker Willis.
FCA deems ex-Coversure franchisee Cleaver not 'fit and proper'
The Financial Conduct Authority has cancelled former Coversure franchisee Mark Cleaver's permission to carry on regulated activities.
One Call launches telematics app
Broker One Call Insurance has launched a new telematics solution – Live Drive – after completing a pilot earlier this year.
Zurich asks RSA to extend bid timeframe
Zurich has asked RSA for more time to make a formal offer for the business ahead of the bid deadline tomorrow, according to reports.
Axa and Biba to clamp down on fraud by educating customers
Axa has teamed up with the British Insurance Brokers’ Association to proactively educate customers on the definition, consequences and wider impact of committing fraud.
Amlin posts reduced profit in H1 due to 'change in accounting'
Amlin reported a fall in profit before tax to £143.3m in the first half of 2015 (H1 2014: £148.5m) due to changes in its accounting for catastrophe reinsurance earned premium.
Rong appointed CEO of JLT's China operations
Philip Rong has been appointed CEO for JLT China and general manager of JLT Lixin Insurance Brokers from 1 September.
Broker Network's insurer relations manager to join Axa
Broker Network’s insurer relations manager Dene Smith has left the organisation to head up Axa’s Birmingham branch.
Accident Exchange launches second investigation into dishonest hire rate evidence
Credit hire firm Accident Exchange has launched a second investigation into dishonest car hire rate evidence, six years after it played a role in exposing fraud perpetrated by rate surveyor Autofocus.
John Lewis enlists 'Monty the Penguin' team for new home insurance advert
John Lewis has enlisted the team behind its popular ‘Monty the Penguin’ Christmas advert for a new campaign to promote its home insurance products.
Deafness claims volume putting ‘strain’ on operational staff
Claims staff at many insurers are facing increased ‘operation strain’ as they struggle to deal with the high volume of noise-induced hearing loss notifications.