News
Axa to launch a new personal lines proposition at Biba 2013
Axa commercial lines and personal intermediary will launch a new personal lines strategy at the British Insurance Brokers’ Association’s conference.
Ageas joins Hood Group home insurance panel
The Hood Group has added Ageas to its home insurance panel in a deal that will safeguard the insurer’s engagement for the next five years.
DLG forecast to lose UK motor market share at Q1
Direct Line Group could see its share of the UK motor market diminished in its first quarter results on Friday, according to an analyst note.
L&G chalks up 4% GWP increase amid record gains
Legal and General’s general insurance business achieved gross written premium growth of £86m, up 4% on the first quarter of last year (£83m).
Quindell Portfolio wins accident management contract
Quindell Portfolio has won a contract with an accident management company which will see the software, consultancy and technology provider aggregate volume from smaller brokers and other insurance intermediaries.
AIG targets marine, P&C growth in London
US insurance giant AIG is hoping to see its European operation, which includes the business formerly known as Chartis, grow in London’s wholesale market.
Lancashire CEO Brindle admits Aon/Berkshire deal concerns as it unveils $77.9m Q1 profit
Lancashire Holdings this morning reported a jump in pre-tax profit and post tax profit for the first quarter of 2013 to $78.9m (Q1 2012: $46.5m) and $ 77.9m (Q1 $45.6m) respectively.
RSA records stunted UK growth in Q1 despite commercial 'progress'
RSA'S UK business posted stagnant growth for the opening three months of the year, with net written premiums recorded at £726m (Q1 2012: £725m).
Towergate CEO Hodges hails new "flexible debt structure" after £396m bond issue
Towergate has announced the pricing of the offering by its subsidiary, Towergate Finance, of floating rate senior secured notes due 2018 in an aggregate principal amount of £396m.
Gallagher acquires Barbon Insurance Group’s commercial and property interests
Arthur Gallagher & Co has confirmed the acquisition of all of the property and commercial businesses within the Barbon Insurance Group, for an undisclosed consideration.
Asia helps spur RSA premium growth
RSA saw net written premiums rise 5% in the first quarter of 2013 including a 16% rise across Asia, South America, Eastern Europe and the Middle East (combined) and 18% in Canada.
Markel completes acquisition of Alterra
Markel has completed the acquisition of Bermuda-based insurer and reinsurer Alterra Capital Holdings for $3bn.
EU considering action over Bangladesh building collapse
The European Union could remove certain conditions of its trade preference scheme with Bangladesh following awful building collapse incident.
HSBC sells off another Asian insurance asset
Following a series of exits from insurance companies in Asia, HSBC Insurance has now sold its stake in its joint venture in life insurer Hana HSBC Life.
Singapore continues with ERM framework
The Monetary Authority of Singapore is pressing ahead with the development of new enterprise risk management requirements for the domestic insurance industry, despite industry concerns that the proposed implementation timetable is too tight.
Tune Insurance closes in on Indonesian insurer
Tune Insurance is attempting to expand its presence in Asia through acquiring 70% of PT Batavia Mitratama.
Hong Kong companies hire private eyes over sick leave
Employment insurance premiums in Hong Kong have increased by around 20% to 30% in the past three years, making companies more wary about sick leave claims.
Allied World enters UK EL market
Swiss-based insurer and reinsurer Allied World has launched itself into the UK employers’ liability market.
EIP and Costco launch van insurance scheme to SME market
Equity Insurance Partnerships and Costco Wholesale have launched a new van insurance scheme which is designed to target Costco’s SME customer base.
ABI, Biba launch best practice telematics guidance
New guidance for insurers on pay-as-you-drive cover has been released by the Association of British Insurers and the British Insurance Brokers’ Association
Simply Business closes in on MBO as Brit CEO Cloutier admits u-turn over broker commitment
Simply Business is close to a deal which will see it separate from Brit Group through a management buyout, Postonline has learnt.
Ecclesiastical promotes Hews to group CEO role
Ecclesiastical has promoted its chief financial officer to the top of the business with immediate effect.
Qatarlyst buyer Ebix wins Ropner tech deal
Independent Lloyd’s broker Ropner Insurance Services has recruited Ebix Europe to work on its electronic accounting, endorsement and settlement capabilities.
L&G enters pet insurance market
Legal and General is to launch pet cover for cats and dogs direct, online and over the phone, as well as through Confused.com.