News
DLG to axe 100 IT roles as part of annual cost savings plan
Direct Line Group has confirmed that approximately 100 jobs will be lost across its IT function, as the firm's £100m annual cost savings drive begins to take effect.
ABI hits back at Apil "sniping" at industry efforts on historic policy tracing
The Association of British Insurers has accused the Association of Personal Injury Lawyers of "sniping from the side-lines" in the insurance industry's efforts to help trace historic employers' liability policies.
Foil boss brands ERR Bill amendment criticism "absurd"
Apil president Karl Tonks’ proclamation that the government amendment to the Enterprise and Regulatory Reform Bill has set back health and safety laws in Britain by 100 years has been branded “absurd” by the Forum of Insurance Lawyers.
E+S Rück predicts stable prices for German renewals
E+S Rück, the Hannover Re Group company responsible for German domestic business, anticipates stable or rising prices in the market for the upcoming treaty renewals on 1 January.
Cameron McKenna backs FSA Solvency II timetable change
City law firm Cameron McKenna has commended the Financial Services Authority for adapting its implementation timeline for Solvency II.
French motor market to shift following annuity policy change
The re-evaluation of motor annuities by the French government will create long-term challenges for French motor insurers, according to Willis Re, the reinsurance arm of broker Willis Group.
Flagstone Re announces Validus EGM date
Luxembourg-domiciled Flagstone has announced a shareholder vote on an acquisition by Validus.
Personal injury specialist rebrands as Pudsey Legal after being given ABS status
Leeds-based personal injury specialist Kayes Solicitors has revealed that as of 1 November it will become one of the first alternative business structures in Yorkshire.
NFU launches "multimillion pound" paperless drive
NFU Mutual is seeking to streamline claims management by eliminating paper systems.
SRA publishes referral fee ban consultation paper
The Solicitors Regulation Authority published a consultation paper this afternoon on the ban of referral fees in personal injury cases.
E-Underwriting signs up to web platform
Gallagher-owned E-Underwriting has signed up to Keelan Westall's web-based Dynamic platform for residential property risks.
Guernsey hails growth in insurance licences
The Guernsey Financial Services Commission has licensed 107 new international insurers in the past 12 months, according to figures from the Guernsey financial services regulator.
FSA changes Solvency II compliance timetable
The Financial Services Authority will work on firms' Solvency II internal model approval until 31 December 2015.
Western sanctions threaten to halt Iran's shipping industry
Western sanctions are jeopardising Iran's vital shipping industry, and the country's biggest cargo carrier will face serious problems if the pressure continues, according to the head of the Islamic Republic of Iran Shipping Lines.
UK regulator allows more time for Solvency II implementation
The Financial Services Authority has given insurers more time to get ready for Solvency II, anticipating that disagreements over the final rules could delay its introduction by two years.
ProSight hires ex-Travelers boss Cusition as syndicate underwriter
ProSight Specialty Underwriters has appointed Paul Cusition, former global head of professional indemnity at ANV, as active underwriter of Syndicate 1110 at Lloyd’s.
United India appoints Kharat as chairman and MD
United India Insurance Company has appointed Milind Kharat as chairman and managing director.
Young female driver premiums fall ahead of ECJ directive
The average motor premium for young drivers has fallen slightly, while the gap between motor premiums for young male and female drivers is narrowing, according to the AA.
Giles names Dickson as MD for the south of England
The latest in a long line of recent managerial recruitments has seen Giles appoint Paul Dickson as regional managing director for the south of England.
Household premiums rise following summer washout
Average insurance quotes for home buildings and contents cover have risen following heavy rain and flooding in the summer, according to the AA's latest insurance premium index.
BP Marsh eyes insurance opportunities
Venture capital provider and Hyperion investor BP Marsh has reported profit after tax of £2.2m, representing an increase from £2.0m for the six months to 31 July 2011.
German broker Unison hires Toben for linked business in Chicago
Hamburg-headquartered Unison Brokers has appointed Heidrun Toben as associate director for European linked business to work in its Chicago office.
Middlesex-based broker snaps up northern firm ahead of acquisition push
Acquisitive high-street broker Bryan James & Co has signalled its intention to complete further purchases having reached a deal to take over the Warrington branch of Lloyd's broker Bennett Gould & Partners.
Mapfre Assistance opens in Ireland creating 70 positions
Mapfre Assistance has opened a new assistance centre in Galway.