News
50% premium reductions in Australia, says Marsh
An abundance of capacity in the reinsurance market is helping keep renewal rates soft in Australia according to international broker Marsh.
Paymentshield launches house buyer's protection product
Paymentshield has launched a new protection product, designed to mitigate the risk attached to buying a new home.
Crash-for-cash pair handed prison sentences
The leader of a crash-for-cash scam and his driver have been sentenced to more than five-and-a-half years in prison.
Regulated CMC numbers down 22%
Numbers of regulated claims management companies had dropped by almost 600 as of March 2014, according to statistics from the Ministry of Justice.
Towergate hands Footman James keys to marketing director
Towergate has replaced departed Footman James boss Andy Fairchild with the specialist broker’s marketing director David Bond.
Power Place to accelerate expansion following Montagu investment
Open International chief executive Chris Guillaume has turned his attention to propelling the firm’s Power Place business into the complex commercial and SME arenas after agreeing a “long term” partnership with private equity investors Montagu.
James Hallam sells IFA business
James Hallam has sold its independent financial adviser business to focus on future investment and growth in the broking sector.
Open GI parent reunites with PE backer Montagu to complete MBO
Open International bosses have reunited with Montagu Private Equity to perform a management buyout of the Open GI, Open GI London and Power Place parent company.
RAC’s private equity owner mulls September IPO
The RAC’s private equity owner Carlyle Group is considering a stock market float in the mould of rival roadside assistance firm the AA Group.
Berlin unveils Uber ban
Smartphone taxi company Uber has been hit with a ban from the city of Berlin on concerns over insurance for passengers.
Sterling grows new business eight-fold in Scotland
Sterling Insurance Group has this year increased its new business numbers eight-fold in Scotland as a result of investment in new offices, senior staff and broker appointments.
Amlin UK boss Carpenter sets exit date
Former Amlin UK chief executive Brian Carpenter has confirmed his plans to retire later this year, setting the date of 30 September for his departure.
H1 weather claims hit insurers for £845m
Weather damage claims have cost insurers £845m across the first half of 2014 according to figures from the Association of British Insurers.
A-Plan full year profits up 10% amid rising policy numbers
High-street broker A-Plan has attributed growth in policy numbers last year for a 10% increase in profit before tax to £22m for the year ending 28 February 2014.
Amlin profits slide in H1 as large catastrophe losses grow
Lloyd’s insurer Amlin chalked up a reduced profit before tax of £148.5m in the first half of 2014 (H1 2013: £161.4m) as an uptick in large catastrophe losses took its toll.
Ankel to leave Allianz Global Corporate & Specialty
Alexander Ankel, Asia chief executive of Allianz Global Corporate & Specialty, is leaving the group to pursue "outside opportunities".
Fosun becomes Ironshore's largest shareholder
Chinese conglomerate Fosun has bought 20% of international property and casualty insurer Ironshore for $464m (£277m).
Two missing after tourist boat sinks in Indonesia
Two Spanish men are still missing after their boat sank off East Indonesia on Sunday.
Berkshire Hathaway hires two senior AIG execs in Asia push
Warren Buffett is targeting Asia to expand his insurance unit Berkshire Hathaway Specialty Insurance.
Motor and home premiums fall almost 7% in past year
The British Insurance Brokers’ Association has highlighted government and industry initiatives as a contributing factor behind a 6.8% reduction in the cost of motor and homes insurance in the past year.
AA index reports 6.1% motor premium decrease
Latest results from the AA British Insurance Premium Index show a 6.1% decrease in annual comprehensive car insurance premiums to £504.59 for the three months ended 30 June.
Broker Network boss Fairchild says proving value key to membership
New Broker Network chief executive Andy Fairchild has pledged to prove to insurer and broker members the value of being part of the group.
Gauntlet targets 20 appointed representative relationships
Coventry-based accountant Askews is to offer insurance via an appointed representative of broker Gauntlet Risk Management.
Zurich aids return of valuable medieval jug two years after theft
A Fourteenth Century jug is back on display at Stockwood Discovery Centre in Luton after Zurich supported restoration work and enhanced security protocols following the theft of the medieval artefact two years ago.