News
US winter storms estimated to cost $2bn
Catastrophe risk modeling firm Eqecat said Friday afternoon (eastern time) that it estimates insured losses resulting from two February winter storms in the eastern United States will exceed $2bn, based on a preliminary assessment.
Nine in ten customers “satisfied” with motor claims service
Almost 90% of claimants are satisfied with their motor insurance claims service, new research has revealed.
Jelf gains £24m debt facility
Jelf Group has entered into a new senior debt facility of £24mm with a five-year term. The new facility provided by a small group of lenders replaces the existing facility in full.
Groupama raids Arista for commercial underwriting boss
Groupama has appointed Arista regional underwriting manager Dawn Dillaway as its first head of commercial underwriting.
Autonet to collaborate with aggregator Money Expert
Autonet Insurance Group has teamed up with comparison website Money Expert to provide van insurance solutions to its users.
FSCS predicts increase in PPI compensation claims
The Financial Services Compensation Scheme has forecasted an increase in payment protection insurance compensation claims for the rest of the financial year and into 2010/11 - which could increase the levies on insurance firms.
Giles to move into corporate & financial risks
Giles Insurance Brokers has taken on the Brightstar risk solutions team, and will establish a new corporate & financial risks division as a result of the move.
First Assist secures ASU deal with Tenet
FirstAssist Insurance Services has been appointed by Tenet LIME, to provide a full suite of accident, sickness and unemployment products and services to its 1100 members.
FSA proposes 10% increase in regulatory fees for 2010/11
The Financial Services Authority has announced its proposed annual funding requirement for 2010/11, with increases of 10% in regulatory fees cited as necessary to provide more “intensive” and “intrusive” supervision.
Chaucer names new head of e-commerce
Chaucer Insurance has appointed Ken Hutchinson as its new head of e-commerce.
CBG moves onto Acturis
The Manchester-based company has moved its entire back office system onto software platform, Acturis.
European insurers must rebuild capital
As insurance companies wait for the world economy to slowly recover, they must work to rebuild capital, reassess risk management, integrate changing regulations and aggressively seize opportunities for growth, both via acquisition and new product…
European insurers must rebuild capital
As insurance companies wait for the world economy to slowly recover, they must work to rebuild capital, reassess risk management, integrate changing regulations and aggressively seize opportunities for growth, both via acquisition and new product…
Allied World reports record 2009 profits
Allied World reported said that net income for the year ended December 31, 2009 was a record $606.9m, or $11.67 per diluted share, compared to net income of $183.6m, or $3.59 per diluted share, for the year ended December 31, 2008.
Paris Re CEO leaves as PartnerRe cleans house
Paris Re CEO Hans-Peter Gerhardt has left the company in a clean-out of senior staff by Partner Re following last year's takeover by the Bermudian (re)insurer.
Axis grabs senior staff from GCube to start renewable energy team
Axis Capital has started a renewable energy insurance team, the company said in a statement.
Go Compare strikes web deal
Price comparison site Go Compare is using Gomez to provide web performance monitoring solutions to support the performance and availability of its website.
Manslaughter publicity orders go live
From 15 February, any organisation guilty of an offence under the Corporate Manslaughter Act is potentially liable to a publicity order, requiring it to publicise details of its conviction and sentence.
TUC supports EL database proposals
The Trades Union Congress has welcomed the government moves to open a consultation on the setting up of an employers’ liability insurance bureau.
PE firm outlines Esure MBO involvement
Electra Partners has issued a statement regarding its £30m investment in Peter Wood’s buyout of Esure from Lloyds Banking Group.
Perkins Slade earns chartered status
Independent insurance broker Perkins Slade has been awarded the title of chartered insurance broker by the Chartered Insurance Institute.
Allianz steps up consumer intelligence
Allianz has selected Callcredit Marketing Solutions as its data supplier, to support its long-term pricing and marketing strategy following a tender.
Ink founders launch start-up
Managing general agent Ink's founders Keith Syrett and Philip Thomas are setting up a new MGA, Thames Underwriting from 1 March.
Lloyds sells Esure stake to founder Peter Wood for £185m
Lloyds Banking Group has sold its 70% stake in esure, the online insurer, to a management buyout vehicle to be called Esure Group Holdings, led by Esure chairman Peter Wood, for a cash consideration slightly in excess of book value in the Lloyds Banking…