News
Biba welcomes NY broker commission stance
The British Insurance Brokers' Association has welcomed the decision by US insurance officials to allow three major brokers to resume accepting contingent commission, bringing legislation more in line with the UK.
Swiss Re back in the black
Swiss Re returned to profit in 2009, reporting net income of CHF506m (£303m) for the year, compared to a loss of CHF864m in the prior year.
Kerry London turnover rises
Kerry London has targeted 10% growth for 2010, after reporting a £0.8m increase in turnover to £15.9m in 2009.
Groupama to up motor rates by 10% for 2010
Groupama Insurances UK chief executive Francois-Xavier Boisseau has vowed to increase private motor rates, pinpointing the division as the "only culprit" for the insurer's fall in profits.
Bennetts aiming for growth with Lowe hire
Bennetts Commercial has set its sights on increasing commission income by 15% this year after adding ex-Jelf regional director Carole Lowe to its senior management team.
Fenchurch in Temple tie-up
New legal practice Fenchurch Law has agreed a deal with legal expenses insurer Temple Legal Protection to offer clients after-the-event policies on a delegated authority basis.
PI victory highlights bus fraud threat
Provident has claimed a victory for the insurance industry after it avoided a potential cost of £200 000 in fraudulent personal injury claims.
Sterling to offer exclusivity
Sterling Insurance has allocated capacity of £12.5m estimated maximum loss to its new executive business offering.
Ebrands look to panel
Brightside insurance director Arron Banks has revealed plans to double the gross written premium of underwriting businesses Ecar and Ebike to over £200m by moving the products to panel arrangements.
MIB reduces levy on insurers for third year
The Motor Insurers' Bureau has introduced an annual levy on motor insurers of £397m for 2010, marking the third reduction in contributions to the fund of last resort in three years.
Axa MGA stance leads to 13% cut in volumes
Axa Insurance's strategy of lifting rates and exiting relationships with managing general agents has led to a 13% reduction in volume in its commercial lines book over the course of 2009.
No replacement at Capita as fraud boss leaves
Capita has vowed to retain a presence in the claims management sector, despite another senior departure.
Clear establishes second base after buy
Independent intermediary Clear Insurance Management has created its first satellite office, after completing its purchase of Lynas Vokes Insurance Brokers.
Risk trio joins forces to improve ERM discipline
Eight years after publishing their first collaborative standard, the UK's three main risk management bodies have joined forces once again to co-author a new, free practical guide on enterprise risk management.