News
LV to outsource due to GI focus
LV has underlined its focus on general insurance by outsourcing its asset management business in a long-term partnership with Threadneedle Investments.
OFT clears Google of monopoly rule breaches
One of the UK’s largest aggregators has welcomed the Office of Fair Trading’s decision to clear Google of any monopoly rule breaches following its acquisition of Beat That Quote. Compare The Market said the merger creates “healthy competition”.
IIF pushes for distinct sector regulation
The Institute of International Finance has called for a “greater cross-sectional co-ordinated” response from the insurance and banking industries to ensure the sectors have separate regulation.
Travelers motor exit prompts market withdrawal speculation
Travelers’ decision to pull the plug on its private motor business in Ireland could signal the company’s complete withdrawal from Ireland, according to local players.
Bluefin looks to become ‘consolidator of choice’
Bluefin has staked its claim on becoming the consolidator of choice as it sets out to beef up its existing 54 offices in the UK after getting extra backing from its insurer parent.
Mapfre targets used car warranty market
Spanish-owned insurer Mapfre Assistance is seeking a share of the £600m UK used car warranty market with the launch of its new brand, Mapfre Warranty.
Working party formed to solve costs policy issues
A team of lawyers from different disciplines are to sit on the new Civil Justice Council working party to find practical solutions in three areas of costs policy identified in Lord Justice Jackson’s civil litigation costs review.
Career development & CSR: Bishop Skinner raises £64 000 for RNLI
Bluefin Insurance Services’ specialist marine division has raised almost £64 000 for the Royal National Lifeboat Institution in the past year through commission on insurance premiums.
Insurance heavy-hitters demand regulatory co-ordination
Insurance and banking regulators should use the 12-month delay in fully implementing Solvency II to provide urgently required clarity and create a co-ordinated response to it and Basel III, according to the group chief risk officer at Zurich.
Travelers motor exit prompts market withdrawal speculation – Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including Travelers’ decision to pull the plug on its private motor business in Ireland, leading to speculation that the insurer is planning to withdraw from the country…
SRA publishes ABS guide
The Solicitors Regulation Authority has published guidance to help interested companies form alternative business structures.
NRWB launches risk management product
The National Register of Warranted Builders has partnered with Celsius Pro, Swiss Re and Aon Benfield Securities to offer its members a new risk management product.
Motaquote vows to centralise after shutting seven branches
Motaquote bosses have vowed to centralise the firm’s renewal process as part of a restructuring strategy which has seen seven high street branches close across Wales.
Eiopa launches equivalence consultation
The European Insurance and Occupational Pensions Authority has launched a consultation on the potential equivalence of the Bermudan, Japanese and Swiss supervisory systems with Solvency II.
Eiopa launches equivalence consultation
The European Insurance and Occupational Pensions Authority has launched a consultation on the potential equivalence of the Bermudan, Japanese and Swiss supervisory systems with Solvency II.
Bank of America to "exit" Premium Credit
Bank of America will "exit its UK and Ireland credit card retail businesses" including Premium Credit.
Sagicor reports worst first quarter in half year results
Sagicor at Lloyd’s experienced the “worst first quarter” for natural catastrophes in recorded history after experiencing net loss attributable to shareholders of US$2m in the sixth month period.
Support set up for riot compensation claims
The government has set up a website and phone support for householders and businesses seeking compensation for riot damage.
Central Bank publishes new corporate governance code for captives
The Central Bank of Ireland has published its corporate governance code for captive insurance and reinsurance undertakings.
Central Bank publishes new corporate governance code for captives
The Central Bank of Ireland has published its corporate governance code for captive insurance and reinsurance undertakings.
Independent panel to investigate riots
The government is set to establish an independent panel to give victims of the riots a chance to "have their voice heard", Deputy Prime Minister Nick Clegg has announced.
Lloyd’s leads the way in medical tourism insurance
Lloyd’s has launched an insurance product that provides complications insurance for plastic surgeons globally to help protect patients who travel abroad for treatment.
Irish Central Bank launches PPI mis-selling investigation
The Irish Independent has reported that the Central Bank has launched a probe because of fears that consumers may have been mis-sold payment protection insurance on loans.
European PE firm makes third financial services acquisition
European private equity firm, Cinven, is to acquire Guardian Financial Services, the UK provider of life and pension products, from Aegon for an enterprise value of £275m.