News
Profit growth not BGL's main aim in 2013 as CEO eyes five-year plan
BGL chief executive Matthew Donaldson has defended his firm’s static profit growth in 2013 by claiming that the launch of a five year growth initiative had meant that building on last year’s profit margin was never expected.
BGL profits remain flat despite attracting two million more customers
The BGL Group has recorded pre-tax profits of £88m for the second consecutive year, despite increasing customer numbers by two million to 6.6 million during the same period.
Mixed outlook for Chinese general insurance market, says Fitch
Fitch Ratings believes China's continued urbanisation and rising household wealth will sustain the growth dynamics of its general insurers, but says intense rivalry will further weaken the sector's underwriting margin in 2014.
Three insurance industry reps nominated to PRA panel
Three insurance industry members have been have been nominated to the Prudential Regulation Authority’s practitioner panel established to represent the interests of the financial services industry.
Higos expands grad scheme
High street broker Higos is to grow its graduate training scheme after a successful first year.
Leeds-based fraud investigator AGS Risk Solutions bought by Insight
Claims investigation company Insight has acquired Leeds-based fraud and financial crime investigations provider AGS Risk Solutions.
Ace appoints Ian McFadyean to regional manager role
Ace Group has appointed Ian McFadyean as business development manager for the south west and Wales.
Kiln appoints Singapore based head of construction & engineering
Kiln has appointed Christian Kolmberger as head of construction and engineering.
Avanti unveils new MD
Avanti Insurance has appointed Elaine Cozens as its new managing director.
Ascent launches medical billings E&O cover for US
Ascent Underwriting has launched a medical billings errors and omissions insurance product specifically aimed at the US healthcare professionals.
RSA no longer facing pay out two years after tragic M5 crash
RSA is no longer expecting to be on the hook for claims relating to a fatal motorway pile-up after the fireworks contractor in charge of a display held on the night of the crash in which seven people died was cleared of breaching health and safety laws.
Lorega partners with BVCA on loss recovery offering
The British Venture Capital Association is to offer Lorega’s loss recovery insurance to its members via its advantage platform.
Hong Kong premiums grew 14% in first nine months of 2013
Statistics from Hong Kong's Office of the Commissioner of Insurance indicate the SAR's total gross premiums to the end of Q3 amounted to HK$216.8bn ($28bn), representing an increase of 14% over the same period in 2012.
Quindell CMC files counterclaim to £5m contract termination suit
A Quindell-owned claims management company has filed a counterclaim after two firms accused the business of breaking a contract early in a £5m suit.
Bowring Marsh's Ashby to lead Willis' global multinational arm
Willis has appointed Simon Ashby as chief executive officer of Global Solutions International, the company’s large multinational arm.
Tim Holliday appointed Zurich UK personal lines boss
Zurich has appointed its UK general insurance chief underwriting officer Tim Holliday to take over as managing director of its UK personal lines business.
Kennedys and Simpson & Marwick axe merger plans
Law firms Kennedys and Simpson & Marwick have cancelled plans to merge citing “complex reasons”.
Helphire raises £60m to fund growth
Accident management services group Helphire has announced it has raised £60m before expenses by issuing more than one billion ordinary shares at 5.2p each.
SRA mulls enforcement action for firms in PI breach
The Solicitors Regulation Authority has warned it is considering enforcement action after “a substantial number of solicitors” failed to declare their insurance position regarding professional indemnity cover.
Cunningham Lindsey boosts claims productivity 20% with iPad tools
Adjusting giant Cunningham Lindsey expects claims handling productivity to soar after introducing new tablet software in January next year.
Claims company Triton Global announces management changes
Claims organisation Triton Global has made multiple management changes in its claims administration outsourcing company DCS Global.
Kiln hires new stable mate for equine team
Kiln has appointed Bill Bevan as equine underwriter within the accident & health division to focus on bloodstock and livestock risks.
David Radford appointed Allianz brand boss
Allianz has appointed David Radford to the newly created role of UK brand director.
Plum extends home product to cover landlords
Plum Underwriting has extended its home works product to cover landlords undertaking extensive building extension projects and renovations.