News
FCA blocks ‘uncooperative’ EPLS Risk Solutions
The Financial Conduct Authority has removed permissions for London-based broker EPLS Risk Solutions over failures to file figures to February 2014.
CMA finds 'no effective remedy' for credit hire costs
The Competition and Markets Authority will take no action on credit hire practices after finding that there is “no effective and proportionate remedy” in its final report into the private motor market.
PIs slam ABI calls for regulation exclusion for in‑house investigators
Updated ABI member guidelines say FCA adherence negates need for regulation
Solvency II cited as driving factor behind growth of run-off market
The implementation of Solvency II has been attributed by consultancy firms as a driver in the continuation of the steady stream of UK and European insurers looking to dispose of underperforming lines of business.
Insurers face major restructuring or increase in VAT after ECJ tax decision
European Court of Justice ruled that offshore entities should be subject to VAT
Hull market records 18th annual loss as marine premiums fell 1.7%
Global marine premiums fell by 1.7% last year, dropping from $34.8bn (£21.3bn) in 2012 to $34.2bn according to the latest statistics released by the International Union of Marine Insurance at its 2014 annual conference in Hong Kong.
Attention turns to devolution impact after Scotland rejects independence
Referendum outcome pleases insurers as devolution discussions begin
Industry seeks aggregator assistance in fight against application fraud
ABI figures reveal 180 000 dishonest motor insurance submissions in 2013
Russell Scanlan grows business by 6%
Independent Midlands-based insurance broker Russell Scanlan saw business grow by 6% over the previous financial year, aided by a strong performance from its new healthcare division.
Swinton commercial boss Callan exits following 10 year stint
Swinton commercial director Carolyn Callan has left the high-street broker by mutual consent after more than a decade at the firm.
Ecclesiastical secures new premesis as it plans London headcount growth
Church and Heritage specialist Ecclesiastical is moving to new premises in the heart of the city as it looks to grow its London headcount over the coming years.
Applied Systems launches mobile product into UK
Technology firm Applied Systems has launched its mobile app for account executives into the UK.
AA posts reduced profit in first results since IPO
AA posted a 1.6% increase in revenue from £484.1m to £491.7m in its maiden half year results following its initial public offering in June.
Nationwide, Hiscox and LV top Fairer Finance rankings
The latest rankings from consumer campaign group Fairer Finance have handed top places for Car, home and travel insurance providers to Nationwide, Hiscox and LV, respectively.
ABI research shows insurers paid £32.1bn in claims last year
The amount paid out by UK general insurers on claims last year increased by £1.5bn on the 2012 figure of £30.6bn, according to the Association of British Insurers' UK insurance key facts 2014 research.
LMA targeting under-30s with committee representation
The Lloyd’s Market Association is to bolster representation for young professionals with representation for under-30s on the LMA market and technical committees.
Gallagher 'agreed terms' with fifty companies, claims Ross
Arthur J Gallagher has walked away from many more acquisitions than it has completed, according to Arthur J Gallagher International boss David Ross.
Insurers need to have clear policies over sanctions says IUMI
The International Union of Marine Insurance has called for insurers and reinsurers to have clear policies with regards sanctions.
Protecting customer data can drive revenue says Boyd
Gaining customer trust should not be viewed as being in conflict with revenue generation, according to Magnus Boyd, partner at Hill Dickinson.
Online buying habits fueling application fraud, says Coupland
Changing distribution channels are partly to blame for the current rise in application fraud, according to SSP head of data strategy Adrian Coupland.
Mapfre reported to have bid €500m for DLG's Italian and German units
Direct Line Group is believed to have been offered €500m (£393.2m) by Spanish insurer Mapfre for its Italian and German operations.
Allianz Retail makes senior appointments to corporate partner division
Allianz Retail has appointed two new business development managers to its corporate partner division.
Allianz Worldwide Care unveils new products after France health merger
Dublin-based insurer Allianz Worldwide Care has entered the life and disability market after a merger with the international health business of Allianz France.
Ex Biba exec Foulsham appointed as REG advisor
Steve Foulsham, former head of technical services at the British Insurance Brokers’ Association has joined Regulatory Efficiency gains as an advisor.