News
CII report highlights insurers' role in protecting public interest
The general insurance sector has made major strides to improve its role in protecting the public interest, according to a new report by the Chartered Insurance Institute.
Ageas appoints Broughton to group board
Ageas has appointed Steve Broughton as a non-executive member of its group board of directors for a three-year period, subject to approval by the National Bank of Belgium.
Broughton appointed to Ageas group board
Ageas has appointed Steve Broughton as a non-executive member of its group board of directors for a period of three years, subject to approval by the National Bank of Belgium.
Helvetia completes acquisition of Chiara Assicurazioni
Helvetia has completed the acquisition of 51% of Italy's Chiara Assicurazioni.
Liability key concern for brokers following Consumer Act
Fears of being exposed to liability for the delivery of inaccurate risk data is the most pressing concern for brokers following the implementation of the Consumer Insurance Act.
British Gas joins forces with Axa to launch home insurance offering
British Gas is offering home insurance for the first time After joining forces with Axa Direct & Partnerships.
Towergate bolsters Northern broking teams
Towergate has recruited Willis’ corporate Northern region director to head up its own business for the region, as well as appointing a new managing director for its Newcastle operation.
Admiral reports 9% fall in UK turnover
Admiral chief executive Henry Engelhardt has said that now "is not the right time to grow" its market share in the UK after turnover fell 9% to £470m (Q1 2012: £518m) in the first quarter of this year.
R&Q sees total 2012 income up 41%
Randall and Quilter has reported total group income of £52m for the year ending December 31, up 41% on 2011’s equivalent figure of £36.8m.
R&Q plots Bermuda move
Randall & Quilter is planning to redomicile its holding company in Bermuda, moving out of the UK.
Sichuan earthquake to have low impact on insurance market, says Fitch
The 6.6 magnitude earthquake that rocked Sichuan province at the beginning of the week will have a small impact on the Chinese insurance market according to analysts Fitch.
India has 0.7% general insurance penetration
India's Finance Minister P. Chidambaram has called on the general insurance sector to increase its penetration across the country.
Thai catastrophe fund has underwritten 800 000 policies
The Thai National Catastrophe Insurance Fund has provided over 800 000 policies over the last year after it was set-up following the Thai floods in 2011.
World Health Organisation: H7N9 bird flu is "one of the most lethal viruses so far"
As the death toll rises to 22 and the virus arrives in Taiwan, the World Health Organisation has given a stark warning.
Collinson sets sights on Aria acquisition
The Collinson Group is to acquire Aria Assistance in a deal that will add £50m gross written premium to its balance sheet.
AA: SoP extension is not good enough
An extension of the Statement of Principles is not a satisfactory solution to flood insurance even on a temporary basis, Simon Douglas, director of AA Insurance has said.
One in five cyclists is invisible to motorists
Motorists fail to notice 22% of cyclists and 4% of jaywalkers, according to research by Direct Line.
London P&I club warns of negative findings
The London P&I Club has warned that reports generated during the club's ship inspection programme show an increase in negative findings in relation to enclosed space entry on board ships.
Northdoor system credited following Torus' managing agency success
IT solutions provider Northdoor has delivered the roll-out of its ‘NdexInsure’ insurance solution for Torus.
Balva policyholders warned to seek alternative cover before renewals
JLT Specialty has warned law firms insured by Balva to take swift action or risk being left in the lurch at renewals.
Xchanging launches mobile salvage sales service
Technology services provider Xchanging has launched a mobile service that provides end-to-end management of salvage sales for the insurance market.
JLT: Balva-insured solicitors must act now
JLT Specialty has urged solicitors that are insured by Latvian insurer Balva to take action now, warning firms that wait until October to switch insurer are likely to face higher insurance premiums.
Guernsey reaps rewards for SII non-equivalence
Guernsey’s decision not to be a part of EU’s Solvency II has strengthened the country’s captive insurance sector – making it the largest in Europe today, according to a report by Timetric.
Ageas strikes deal with Giles-owned Compass
A new three-year partnership between Giles’ network division Compass Broker Services and Ageas UK Insurance is expected to generate £20m gross written premium, according to the firms.