News
Heath Lambert wins GM deal
Heath Lambert’s Manchester office has secured a multi-year appointment as insurance broker and employee benefits consultant to Motors Holding, a major retail division of General Motors UK. The retailers’ brands include Vauxhall, Saab, Chevrolet and…
FSA hands out £7m fine for PPI mis-selling
The Financial Services Authority has fined Alliance & Leicester £7m for serious failings in its telephone sales of payment protection insurance.
Axa restructures commercial broker business arm
Axa Insurance has restructured its broker facing commercial business.
Willis CEO Plumeri: AIG is "great"
Willis chairman and chief executive Joe Plumeri has thrown his support behind AIG in an interview with CNBC in America.
AIG UK boss: risk managers and brokers continue to support us
The managing director of AIG UK has outlined the levels of support the insurer has received despite its well publicised revcent problems.
Injuries Board see average claims value rise to €24 320
The Injuries Board, formerly known as the Personal Injuries Assessment Board, made assessments totaling €113m were made in respect of 4652 personal injury claimants in the first six months of 2008.
NU signs new affinity deal
West Bromwich Building Society has launched a new household insurance product underwritten by Norwich Union administered by broker Millennium Insurance.
Amlin to acquire French underwriter
Amlin has agreed to buy Financière Europe Assurance, the holding company of Anglo French Underwriters.
Amlin acquires French underwriter
Amlin said that one of its wholly owned subsidiaries has acquired French underwriting agency Financière Europe Assurance (FEA), the holding company of Anglo French Underwriters SAS (AFU). The vendors are 21 Centrale Partners (the French branch of the 21…
Legal & General sees improved group life sales
Legal & General wrote a third of all new group life business between Q2 2007 and Q2 2008, according to a new report released by Swiss Re.
FSA fines Alliance & Leicester £7 million for PPI failings
The Financial Services Authority (FSA) has fined Alliance & Leicester £7 million for serious failings in its telephone sales of payment protection insurance (PPI).
Allianz appoints motor schemes manager
Tim Pitts has left Zurich to take up the position of motor schemes manager at Allianz retail division.
Allianz invests $2.5bn in The Hartford
European insurance giant Allianz has invested $2.5bn in US insurer The Hartford Financial Services Group.
B&B bailout could sink brokers says IIB
The Bradford and Bingley bailout could threaten brokers’ livelihoods, according to Barbara Bradshaw, chief executive officer of the Institute of Insurance Brokers.
Fitch warns of tough times for credit insurers
Fitch Ratings is “remaining cautious” on the credit insurance industry, amid concerns that banking turmoil could lead to rising corporate bankruptcies, in turn affecting credit insurers' underwriting performance.
Countrywide strengthens insurer partnerships with new recruit
Countrywide has appointed Tim Rogers to the role of insurer relations director to further strengthen the network’s insurer partnerships.
Quinn signs up to aggregator
BeatThatQuote.com is to partner with Quinn Direct in Ireland in order to extend its motor insurance offering.
Xchanging buys India's Cambridge Solutions for £83m
Xchanging, the outsourcing company, has bought 75% of Indian outsourcing and IT company Cambridge Solutions for £83m in a cash and shares deal.
Provident unveils new MD
James Reader has been appointed managing director of Provident Insurance with immediate effect.
Munich Re estimates $500m of pretax losses from Gustav and Ike
Munich Re, the Germany-based reinsurance giant, said that it is expecting $500m of pretax losses from hurricanes Gustav and Ike.
Fitch to withdraw Swiss Re rating over disclosure issues
Fitch Ratings has withdrawn its ratings on Swiss Re and its subsidiaries.
Lloyd's insurer to seek listing on the LSE
Lloyd's insurer Lancashire has announced plans to list next year.
Edwards Angell Palmer & Dodge opens Hong Kong office
Law firm Edwards Angell Palmer & Dodge has opened a Hong Kong office by entering into an association with Hong Kong law firm Lister Swartz effective 1 October.
AM Best: AIG still under review with negative implications
All financial strength ratings, issuer credit ratings and debt ratings are unchanged and remain under review with negative implications for AIG and its subsidiaries, according to AM Best.