News
MIB opens database access up to public
The Motor Insurers' Bureau is launching a year-long campaign to keep its database of insured drivers...
Appointment at Chubb
Chubb has appointed Paul Wareham as branch development manager of the Reading office. He will be res...
APC secures £20m capacity
SME insurance underwriting agency Anglo Pacific Consultants has secured £20m in underwriting capacit...
This is the week that was
Anthony Gould, editor in chief of Post Magazine provides a run down of the major stories in the UK general insurance sector this week. News includes the launch of yet another mutual insurer as insurers's shunned; the arrests of four insurance executives;…
ABI - New guide on ICA launched by the Insurance industry
The Association of British Insurers (ABI), in partnership with ILAG, the IUA, Lloyd’s and the LMA, last week published ‘A Guide to the ICA Process for Insurers’. The guide complements the updates made to the ICA regime on 31 December 2006 with additional…
Axa confirms Swiftcover buy
AXA UK announced today that it is to acquire the UK’s only 100% online insurer, swiftcover.com, jointly owned by international insurer Primary Group and Swiftcover’s management. The transaction is subject to the satisfaction or waiver of certain…
Axa linked with Swiftcover acquisition
Axa Insurance is understood to be making a return to the direct personal market, buying online motor insurer Swiftcover in a surprise deal.
Police back MID updating move
The police is fully behind a campaign to speed up the process of updating the motor insurance database.
OFT refers PPI market to the Competition Commission
The Office of Fair Trading has referred the UK payment protection insurance market to the Competition Commission for further investigation.
Culliney joins Lockton Professions
Lockton has appointed Kevin Culliney as executive director of its professions division.
Excellent year for XL
XL had an “excellent year” in 2006 according to analysts, following its announcement of record profits.
RenRe posts record results, but 2007 prospects dwindle
Bermudian reinsurer RenaissanceRe reported record income and returns for 2006, but has tempered the good news with caution for growth prospects in 2007, citing a softening market and the impact of the Florida Government’s decision to increase its State…
Pick of the Week
Anthony Gould, editor in chief of Post Magazine provides a run down of the major stories in the UK ge...
RenRe settles SEC case for $15m
US regulator the Securities and Exchange Commission (SEC) has anounced that it has settled its finite reinsurance accounting fraud case against Bermudian reinsurer RenaissanceRe for a fine of $15m and a commitment to bring in an independent consultant to…
AXIS results beat expectations
AXIS Capital has smashed expectations with its latest results, announcing profits of $281m in the final quarter of 2006.
Partner Re smashes estimates in “tremendous” year
Bermudian (re)insurer Partner Re has posted net income of $242.7 million for the fourth quarter of 2006 and net income of $749.3 million for the full year, producing an operating return on equity of 26%.
Fears voiced over ‘free’ insurance products
Sales of insurance policies promoted with three or six month ‘free’ periods may be breaching Treating Customer Fairly (TCF) rules and are likely to come under the scrutiny of the Financial Services Authority (FSA), according to general insurance network…
'Free' periods may breach TCF rules says Ceta
Sales of insurance policies promoted with three or six month ‘free’ periods may be breaching treating customers fairly rules and are likely to come under the scrutiny of the Financial Services Authority, according to general insurance network Ceta.
Class action filed against Quanta over 2005 loss estimates
Quanta is the latest (re)insurer to face a shareholder class action relating to alleged losses arising from increases in 2005 loss reserves.
Benfield Fac appoints head of Australasia and SA
Reinsurance broker Benfield has announced the appointment of Michael Lazarus as head of its Facultative Solutions team for Australia, New Zealand and South Africa.
White appointed to Deputy chair at Lloyd's
The boss of Lloyd's names' agency Argenta has been appointed deputy chairman of Lloyd's to replace Bronek Masojada. Graham White, executive director of Argenta Private Capital was appointed today, following the end of the Hiscox chief executive's term of…
Equity wins household contract with Newbury Building Society
Newbury Building Society has selected Equity Insurance Brokers as its sole household insurance provider following a formal tender process.
Motassist launch home and family legal expenses policy
Rapidly expanding legal expense and insurance claims management provider Motassist is taking a stance in the Home and Family Legal Protection market with the launch of an ‘affordable’ home and family legal expense policy offering complete protection for…
Moorhouse in MBO move
Moorhouse Group Limited has sold its corporate division to its management for an undisclosed consideration in order to concentrate on the development of its e-trading and business cover platforms.