News
Premiums to be cut despite profit fall at NFU mutual
NFU Mutual said it will cut premiums by 10% under its mutual bonus scheme this year, despite profits on general insurance business falling by almost £100m. According to a statement from the insurer general insurance and life customers are set to benefit…
Reserve strengthening at Primary prompts step back from AM Best rating
A.M. Best affirmed the financial strength rating of B (Fair) and issuer credit rating of “bb+” of Primary Insurance Company Limited (Ireland) today, and the insurer has opted to withdraw from the interactive rating process.
Indie directors accused of withholding claims data
Three directors of the former Independent Insurance Company were today accused of dishonesty and misleading shareholders and fellow directors to improve the public perception of the company's finances, writes Mairi Macdonald .
ABC Insurance launches first commercial combined product
ABC Insurance, part of the LV Group, has commenced trading with the launch of a new commercial combined product. ABC’s business insurance policy will target the UK’s four million plus SME businesses and will be available exclusively via insurance brokers.
Firefighters tackling north west chemical blaze
People have been warned to stay indoors after a massive fire broke out at a chemical works in Crewe.
ABC insurance launch targets SME market
ABC Insurance, part of the LV= Group, has commenced trading with the launch of a new commercial combined product. ABC’s ‘Business Insurance’ policy will target the UK’s four million plus SME businesses and will be available exclusively via insurance…
Clifford Chance launches part two of the MiFID Survival Guide
Clifford Chance has launched the second part of the MiFID Survival Guide, which is designed to help firms come into compliance with the new requirements introduced by the Markets in Financial Instruments Directive (MiFID).
SME market remains an untapped opportunity for directors and officers insurance
The vast majority of small to medium sized enterprises(SMEs) do not have Directors and Officers insurance (D&O) in place with almost 70% unaware that it actually exists, according to the findings of a recent survey.
Mayne takes distribution role at NIG
NIG has appointed Steve Mayne to the position of distribution implementation manager.
RSA sells legal and claims team
Parabis has completed an agreement with Royal & SunAlliance for the acquisition its Martello Underwriting claims and legal team. As a result Parabis Limited aims to launch an end-to-end professional indemnity claims management solution developed…
Airmic starts CEO search again
The Association of Insurance and Risk Managers will re-advertise for a chief executive, after its initial search proved unsuccessful. Airmic was meant to unveil its new management to members at its annual conference this week, but has been forced to…
Bollington acquisition boosts Groupama's broking business
Groupama UK has confirmed that it has completed the purchase of a majority shareholding in The Bollington Group for an undisclosed sum.
Indie trial news update
Users who have recently registered for e-mail breaking news from the trial of the three former directors of Independent Insurance may need to re-register due to a technical fault (well, human error). Go to www.theindietrial.co.uk . Apologies for any…
Morgan replaces retiring Thorpe at Aon Sheffield office
Aon in Sheffield has appointed Donald Morgan as client management director to take over from Eric Thorpe, who retires after 37 years.
Unum growth hits 20% in 2006
Disability insurer Unum has announced increasing profits for the year ending 31st December 2006, £131.6m a rise of nearly 20%
ABI board member taken into police custody
A senior insurance executive was yesterday taken into police custody after a two year old girl suffered head injuries, according to reports.
Ace survey indicates risk managers concern over emerging risks
Risk management is now seen as a key contributor to a company’s source of competitive advantage with companies putting risk managers under increasing pressure to show measurable returns on investment in this area, according to Ace Europe. However, risk…
Deloitte promotes four to partner
Deloitte has announced a number of senior appointments to its specialist UK insurance team.
VC giant buys first broker
The Blackstone Group has agreed to buy Alliant Insurance Services, the second largest privately owned broker in the United States. The company recently acquird the US operations of JLT for $100m.
RSA opens new office in Leeds
Royal & SunAlliance has opened the doors to its new market site in Bond Court, Leeds. The new office will focus on sales and underwriting, and has been created to service RSA's broker partners in Yorkshire, Humberside and the North East.
InsureandGo launches insurance travel card
InsureandGo has launched a new card that it says will speed up the settlement of travel insurance claims and also tackle the growing problem of holiday card fraud.
RAC joins Day Insure panel
The internet based insurance provider dayinsure.com is to offer its customers motor legal protection provided by RAC Legal Services.
Munich Re leads Caribbean cat fund
The first cross-national catastrophe fund has been launched today, offering insurance cover to 16 Caribbean countries ahead of this year’s hurricane season.
Broker Network adds two members
Independent Insurance Bureau Limited and Windrush Insurance Brokers have joined the Broker Network, bringing the total number of member firms to 168.