News
Trio arrested for selling fake Groupama policies
The police fraud unit has arrested three individuals suspected of selling fraudulent policies under the Groupama name.
Time lapses on second reading of Straw’s motor bill
The order to read Jack Straw’s Motor Insurance Regulation Bill a second time has lapsed.
Vienna Group expects €560m profit for 2011
Vienna Insurance Group estimates that it will have profit before taxes of €560m in 2011, the best result in the group’s corporate history.
Solvency II run-off concerns still not met
The Solvency II exemption for run-off companies fails to meet the expectations of many in the industry, according to run-off specialist Ruxley Ventures.
Jubilee says regulators thwart better PPI
Jubilee says insurers are being put off creating payment protection insurance products because of uncertainty following reviews by regulators.
Questgates completes minor recruitment drive
Growing demand is behind a minor recruitment drive at Questgates. The company has made four new appointments and promoted two.
Bermuda’s Premier Cox signs tax agreement with Turkey
Bermuda has signed a tax information exchange agreement with the government of the Republic of Turkey.
Law firm sale hinges on SRA approval
Solicitors Regulation Authority approval is required before one of the first law firm takeovers can go ahead.
Legal cover firm creates online broker portal
A motor and family legal cover provider has launched a free online portal which allows brokers to browse policies and documents on 50 types of commercial and personal lines cover.
SSP’s Whiting promotion targets MGAs
Insurance technology provider SSP is to target the growing managing general agents business and has promoted Nick Whiting to the role of business development manager within its insurer division to head up its campaign.
Ace recruits communications head from HSBC
Global reinsurer Ace has appointed Darragh Gray as director of communications and marketing for its Europe, Middle East and North Africa operations.
Cyclists urged to support Allianz-backed bike ride
The Prince’s Trust has announced that its Palace to Palace cycle ride will be coming to the West Midlands for the first time.
Bluefin centralisation to cost 23 jobs
Bluefin is proposing to close the finance functions of its Gravesend and West Wickham offices with the loss of 23 jobs.
CNA names London property underwriting manager
CNA Insurance has promoted Steve O’Riordan, pictured, to be underwriting manager for London property.
Cruise ship disaster: Hannover Re hit with multimillion pound loss
International reinsurer Hannover Re has suffered a marine hull loss of €30m from the Costa Concordia disaster.
Hannover Re expects double-digit million euro loss from Concordia
Hannover Re’s total loss from the stricken Costa Concordia could be in the mid-double-digit million euro range, according to the firm.
Product recalls jump 27%
UK product recalls have jumped by 27% from 229 in 2010 to a record 291 in 2011, the second year in a row to see record breaking increases, says City law firm Reynolds Porter Chamberlain.
Tatton returns to market with insurance debt vehicle
The former chief executive of Irish health insurer VHI and founder of Vivas, Oliver Tattan, has launched a debt financing firm for European insurers.
Liberty promotes claims chief McCammon to COO
Liberty Mutual Insurance Europe has promoted its head of claims John McCammon to chief operating officer.
McCammon is Liberty Mutual's new COO
Liberty Mutual Insurance Europe has appointed John McCammon, pictured, as its new chief operating officer.
XL insurance takes Harris from Chartis
The insurance segment of XL Group has appointed the Chartis UK commercial lines boss Jason Harris as chief executive of its International P&C business.
Axa to use BAE systems fraud detector
Global insurer Axa has signed up to use BAE Systems claims fraud prevention service which it says will increase its efficiency and prevent honest customers from paying for fraudulent claims.
QBE pledges to grow following Glasgow move
Business insurer QBE has signalled Scottish expansion plans by moving its Glasgow office to larger premises and to move closer to the central business district.
XL appoints Harris from Chartis as International P&C CEO
The insurance segment of XL Group has appointed Jason Harris as chief executive of its International property and casualty insurance business.