News
Applied Systems boss highlights broker benefits of My Licence tie-up
Applied Systems has reached an agreement with the Motor Insurers’ Bureau that will see the software provider’s brokerage management system Applied TAM UK connect to the MIB Hub to use the My Licence service.
Purchase of Gibraltar-based Ultimate boosts Markerstudy GWP by £30m
Markerstudy has been granted approval to complete the acquisition of Gibraltar-based niche personal lines insurer Ultimate Insurance Services and its UK administrative arm Ultimate Pet Partners.
Tangiers Group acquires Maltese aviation insurance specialist
Tangiers Group has acquired Osprey Insurance Brokers, Malta's largest aviation insurance and risk management specialists for an undisclosed amount.
Insurers advised to cut FOS complaints by avoiding technical jargon
The number of consumer complaints lodged against general insurers with the Financial Ombudsman Service can be reduced by cutting down on the extent of technical jargon in responses to policyholders, according to compliance experts.
Solvency II NEDs told to ‘up their game' in face of increased regulation
The risk of a decreased talent pool has been highlighted by market players as a potential ramification of “onerous” regulation targeting non-executive directors at Solvency II insurance companies.
JLT heralds 2014 growth in face of 'marked decline' in rating environment
JLT has delivered a 3% increase in pre-tax profits for 2014 to £159.7m (FY 2013: £154.6m) and a 13% rise in total revenue to £1.10bn (FY 2013: £979.2m).
Money Supermarket 2014 insurance revenue grows 8%
Money Supermarket's insurance division has seen an 8% rise in revenue to £138m for the year ended 31 December 2014.
DLG hits all four 2014 targets despite reduced motor profits
A £50.6m year-on-year reduction in operating profit from ongoing operations within Direct Line Group’s motor business was the main driver behind a marginal dip in the insurer’s group-wide operating profit for 2014.
Lloyd's Asia to switch Singapore office
Lloyd's Asia will move out of Asia Square in the final quarter of 2015 to new offices in Raffles Place.
RK Harrison and Hyperion seal merger agreement
The long awaited merger between RK Harrison and Hyperion has been agreed between the two brokers.
Hiscox eyes bolt-on acquisitions to boost growing retail book
Hiscox is keen to complete more bolt-on acquisitions as it looks to continue growing its retail book, according to chief underwriting officer Richard Watson.
TSC report expected to call for greater focus on telematics
The drive to improve road safety is in danger of running off course as a result of the government’s failure to introduce a strategic plan to exploit emerging technologies, a parliamentary report will warn this week.
BLM to move to insurance district
BLM will move its entire London operations to a single office in the heart of the insurance district on 10 March.
MA Group launches high value property repairs service
Cipher UK, a new national property repairs service for insurers has been launched today (2 March) by the MA Group, specialising in complex and high value repairs up to £500,000.
Munich Re leads Pool Re's £1.8bn reinsurance programme
Government-backed terror scheme Pool Re has purchased reinsurance in the commercial market for the first time in its history.
IUA calls for innovative emerging risks cover
The board of the International Underwriting Association has discussed the challenges of providing cover for emerging risks at a recent meeting with risk managers association Airmic.
Hiscox UK and Europe delivers record profits in 2014
Hiscox chairman Robert Childs has heralded his firm’s “discipline” in underwriting and within its investment portfolio after posting a marginal reduction in group pre-tax profit for 2014 of £231.1m (FY 2013: £244.5m).
RSA disposals impacted by staff pension liabilities
RSA is reportedly turned-off the prospect of a break-up of the company due to large amounts of sale proceeds having to be allocated to staff retirement schemes.
Axa picks Applied to distribute online SME products
Axa Commercial Lines and Personal Intermediary has partnered with software provider Applied Systems to distribute its online SME products.
Laurent Josi starts as CEO Axa Asia
Jean-Louis Laurent Josi has started his role as CEO of Axa Asia in Hong Kong this week.
Amlin profits hit by reduced reserve releases and investment return
A combination of condensed reserve releases and a dip in investment return last year has been blamed for a £67m fall in profit before tax at Amlin.
Randall & Quilter and Hiscox disagree on Synergy terms
The deal between Randall & Quilter and Hiscox over R&Q's managing general agent Synergy Insurance has fallen through after not agreeing "mutually acceptable terms".
Lloyd's recruits Asia-Pacific broker head
Lloyd's has appointed Chris Rummery in a newly created role - senior market development manager for Asia-Pacific.
China's solvency regime to provide mixed blessings for reinsurers, says Peak Re
Hong Kong-based reinsurer Peak Re believes new risk solvency regime will modernise China's market after an initial period of pain for insurers.