News
Towergate names Ecclesiastical's Wood as Paymentshield boss
Ecclesiastical UK managing director Steve Wood has quit the insurer to take on the CEO role at Towergate-owned Paymentshield.
LV's O'Roarke targets motor reduction to 50% of portfolio
LV is aiming to “reduce its dependence on private motor” with much more of is business concentrated on the home and SME space, according to general insurance managing director John O’Roarke.
Esure tipped to wrestle market share from rivals once rates rise
Esure can win customers from “less efficient UK motor insurers” once motor pricing picks up, according to a report by Berenberg, which has backed the insurer's long-term prospects.
RSA strikes Amazon cloud computing deal
RSA has signed a contract with Amazon Web Services to use its cloud computing services across the group.
Big data tipped to impact insurers' credit ratings
Harnessing big data will be key to insurers' profitability, competitiveness and, in the long term, credit ratings, according to a Fitch Ratings report.
Seven law firms selected following NFU legal panel reshuffle
NFU Mutual has named a revised seven-strong legal panel to provide its claims and related legal services in England and Wales following a review and tender process.
Axa unveils commercial combined tool for brokers
Axa commercial lines and personal intermediary has launched a new e-traded commercial combined product, Axa Business Choice.
LV posts 'best ever' GI COR despite shrinking motor book
British insurer LV posted a 14% increase in operating profit to £92m (2013: £81m) for the 2014 financial year.
Kennedys agrees Singapore joint law venture
Law firm Kennedys has entered into a joint law venture with Singapore-based Legal Solutions.
Police Mutual sees 2014 income grow 15%
Police Mutual reported total income growth of 15% in 2014 alongside a £44m increase in funds under management from the beginning of the financial year.
Brokers urged to communicate better with 'at risk' care home market
Potential unrated insurer interest in the "at risk" care home sector has triggered the need for closer engagement between brokers and care home operators, according to one of the authors of a report into the sector.
Cost-cutting and consolidation among insurers predicted for 2015
Scattered reductions in profitability and organic growth over the course of last year will trigger more consolidation and cost-cutting measures among insurers in 2015, industry experts have claimed.
Ex-RSA CEO tells tribunal that reserves were used to offset group issues
Philip Smith, the former CEO for RSA in Ireland, has accused his previous employer of carrying out a "character assassination" on him.
Esure shares drop more than 9% after FY results
Esure shares have dropped 9.58% on 9 March's closing price of 233.8p following its 2014 full year results announcement this morning.
Barbon CEO rules out acquisition spree after Carlyle-backed MBO
Barbon Insurance Group's CEO Martin Totty has outlined the firm's plans for growth after The Carlyle Group took a majority share in the company.
Brightside launches aggregator for Asda Money
Brightside has launched a price comparison service for Asda car insurance customers.
Demise of outbound call centres linked to customer attitudes, not cold-calling regulation
The days of insurers targeting policy sales via outbound call centres are “long gone”, according to industry insiders, who have cited evolving customer purchase methods for the demise of such call centres rather than incoming cold-calling regulation.
Canadian purchaser buys 3 Minster Court for £170m
Canadian company Ivanhoé Cambridge has bought City of London property 3 Minster Court for more than £170m.
Charles Taylor Adjusting names Dutch partner
International loss adjuster Charles Taylor Adjusting has confirmed Lengkeek Laarman & De Hosson as its exclusive associate in the Netherlands.
Prudential CEO Thiam departs to lead Credit Suisse
Credit Suisse has appointed Prudential CEO Tidjane Thiam to lead the business ahead of the departure of the investment bank’s longstanding CEO Brady Dougan.
Hastings looking to sell minority stake - report
Hastings Insurance Group is planning to sell a minority stake in its business, according to a Sky News report.
Policy Excess launches flood excess offering
Policy Excess has launched a flood insurance product allowing householders and landlords to insure their excess.
The Carlyle Group to take majority stake in Barbon Insurance
Global alternative asset manager The Carlyle Group has agreed to acquire a majority stake in Barbon Insurance Group.
Esure's Vann commends ‘solid' results despite 12.8% profit drop
Esure reported a 12.8% decline in pre-tax profit for the year ended 31 December 2014 with the decrease attributed to costs related to the group's acquisition of the remaining 50% stake in Go Compare.