News
Devon-based Pavey Group buys Exeter broker
Devon-based Pavey Group has acquired broker Buddens Westinsure to expand its operations in Exeter.
CII CEO Sandy Scott to stand down
Sandy Scott is to relinquish his role as CEO at the Chartered Insurance Institute.
CEO Beale hails 'strong' result despite flat Lloyd's profit of £3.2bn
Lloyd's has posted a pre-tax profit of £3.2bn for 2014 in what CEO Inga Beale has described as a "strong set of results" for the specialist insurance market.
Nicholls replaces Gladwell as Crawford UK & Ireland CEO
Clive Nicholls has been appointed as CEO of Crawford & Company UK & Ireland in a leadership reshuffle following its acquisition of GAB Robins.
Redress for opt-out add-on buyers mooted
Redress for consumers who bought add-ons unnecessarily through the opt-out process would be a "logical conclusion" of the Financial Conduct Authority consultation into the sales practice, according to PWC.
AA refuses to rule out Gibraltar for "well advanced" new insurer launch plan
The AA is “well advanced” in its plans to launch a new insurance company vehicle to quote on its broker panel for motor insurance, with a launch expected within months.
Property bodies call for delay to final Flood Re regulations
A coalition of property industry bodies have written to Secretary of State Liz Truss calling for the government to delay laying the final regulations of its flood insurance scheme, Flood Re, to ensure that homeowners are not left exposed to rocketing…
Industry warned of potential class suit from rugby concussion claims
A predicted big "storm" of concussion injury claims from rugby union players has the potential to lead to a costly class action lawsuit, legal experts have warned.
Money Supermarket's Nixon backs out of share sale
Money Supermarket founder Simon Nixon has decided against selling a 6.4% stake in the company one day after it was proposed.
Tulloch concerned over climate change
Aviva's CEO Maurice Tulloch has voiced his concerns over climate change at the Association of British Insurers' event on the subject on 24 March.
AA posts 1% increase in revenue as it unveils refinancing plan
The AA posted a 1% increase in revenue to £983.5m for the year ended 31 January 2015, preliminary figures published today revealed.
ERS puts 380 staff on notice as it targets 90% COR
Specialist motor insurer ERS today put 380 staff on notice of redundancy ahead of the closure of its Brentwood office.
Ageas promotes Middle to head up retail division
Ageas Retail’s Partnership director Ant Middle has been appointed as CEO of Ageas Retail.
FCA mulls ban on opt-out selling of add-ons
The Financial Conduct Authority has sounded the death knell for the opt-out method of selling of add-ons, following its market study last year.
Flood Re appoints former Canopius head of capital
Gary McInally has been appointed as chief actuary for government-backed flood scheme Flood Re.
Hood Group picks Cega to support travel insurance programme
Affinity insurance provider Hood Group has appointed global assistance partners Cega to deliver emergency assistance and claims services.
Ecclesiastical celebrates best underwriting figure for five years
Ecclesiastical has posted a pre-tax profit of £48.2m for 2014 and an improved combined operating ratio for the year.
XL Group announces pricing of subordinated notes
XL Group has priced a public offering of $500,000,000m (£336,134,684) for its subsidiary Xlit.
Nationale Suisse shares delisted
The Cantonal Court of Appeal in Basel-Stadt has declared the shares in Nationale Suisse that are not held by Helvetia to be invalid.
Industry should prepare for $1bn container ship loss, says AGCS
After a 80% plus increase in container ship capacity in a decade, Allianz Global Corporate & Specialty is warning of some significant loss events to come.
Closing Gibraltarian underwriter warns of SII pressures
The chairman of Gibraltarian underwriter Service Insurance Company said UK motor market pressures and the looming Solvency II deadline in 2016 led to the firm deciding it was not "economically sensible" to continue operating.
Fraudster jailed for a year after RSA investigation
A fraudulent claimant has been jailed for 12 months after being found guilty of contempt of court.
In-house investigators dodge PI regulation amid deadline delay
In-house claims investigators will not be subject to statutory licensing for private eyes, according to the Association of British Insurers, which has expressed concerns that uncertainty around the introduction of PI regulation is “hindering” insurers.
Allianz confirmed as lead insurer for Germanwings plane crash
Allianz is the lead insurance underwriter for the Germanwings Airbus A320 plane which crashed in France on Tuesday.