News
Broker Network forms five-strong insurer panel
Broker Network has formed a five-strong panel of insurer partners made up of Ageas, Allianz, Axa, NIG and RSA.
UK General acquired by private equity firm
JC Flowers has acquired UK General from Primary Group for an undisclosed sum.
Asta-managed syndicate reports profit in first year
Dale Underwriting Partners has posted a modest profit in its first year of account, despite “challenging” market conditions.
Former Zurich GI chief becomes Admiral chair
The former CEO of Europe general insurance at Zurich, Annette Court, has been appointed non-executive chair of Admiral.
London market parties trialling Blockchain prototype
A Blockchain prototype will be rolled out as part of the London market modernisation scheme.
Go Compare to invest in start-up insurtech businesses
Go Compare is looking to invest in start-up insurtech businesses to help the aggregator website reach new customers, says CEO Matthew Crummack.
Discount rate cut could benefit Hastings, says CFO
The cut to the Ogden discount rate will benefit “agile players” who procure business predominantly through aggregators, Hastings' chief financial officer Richard Hoskins said.
Higos makes first acquisition following GRP buyout
Higos Insurance Services has made its first acquisition since being acquired by Global Risk Partners.
Ageas to shed 77 roles in broker channel restructure
Ageas will make 77 redundancies across its broker channel in the wake of the discount rate cut.
Gibraltar insurer withdraws £20m UK motor capacity in wake of discount rate cut
A Gibraltar insurer has become the first to withdraw capacity to a UK managing general agent in the wake of the discount rate cut.
FCA sets deadline for PPI claims
The Financial Conduct Authority has put a deadline on payment protection insurance claims, bringing to a close a chapter that has cost firms billions in compensation.
Go Compare demerger resulted in £8.1m hit to profit
The demerger of Go Compare from parent company Esure cost the business £8.1m, causing a drop in profit of 5.2%.
Hastings posts profit and expansion plans despite £20m discount rate hit
Hastings has made a 5% growth in profit despite taking a £20m hit from changes to the Ogden discount rate.
Penny Black's Social World – March 2017
Drones, drives and drinks
Strong insurance competition in Australia, says broker association
Australia's National Insurance Brokers' Association has responded to an Australian parliamentary inquiry into general insurance.
Benard swaps Axa Gulf for Generali Asia
Fabrice Benard has been appointed regional head of P&C retail for Italian giant Generali's Asia operations.
3XD ditches passwords in attempt to protect customers from hackers
Specialist insurance provider 3XD is trailing a new system that is designed to ditch the need for passwords.
Insurers call on Chancellor to set new discount rate within a year
Industry leaders urged the Chancellor yesterday to set a new discount rate within the year, director general of the Association off British Insurers Huw Evans said.
Principal acquires motorcycle book
Principal Insurance has acquired the motorcycle book from Rampdale, adding 7000 policies to its portfolio.
Clear Insurance Management acquires MPW Insurance Brokers
Clear Insurance Management has acquired Kent-based MPW Insurance Brokers, its largest acquisition to date.
CII joins professional bodies to form Chartered Body Alliance
The Chartered Insurance Institute has formed an alliance with two other chartered bodies in financial services.
One in four insurers failing mobile users
A quarter of insurers in the UK are failing to meet customers demand for a mobile and tablet optimised online experience.
MDP increases stake in Towergate following £40m rights offer
Towergate has completed its rights offer, raising £40m in additional investment.
Kennedys hires Hill Dickinson casualty team
International law firm Kennedys is to hire a 24-strong team from Hill Dickinson to boost its national personal injury practice.