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People moves - 19 May 2011
A round-up of people moves and new appointments in the industry, as featured in the 19 May 2011 edition of Post.
Equity Direct names affinity boss
Equity Direct Broking has promoted product and insurer development manager Rob Tordoff to the newly-created role of head of sales and affinity relationships.
Editor's comment: Beware the brain drain
Sometimes it's good to go against the grain — it can signal creativity, innovation and a desire to differentiate. And then there are the times when mirroring market trends undoubtedly brings the best outcome for individuals concerned.
Equity expansion still on track despite 185 jobs under threat
Equity Insurance Group has insisted its branch network and plans for regional expansion are safe, despite putting 185 jobs within its underwriting and distribution operations at risk.
Equity expansion still on track despite 185 jobs under threat - Insurance News Now – 28 April 2011
Post news editor Mairi MacDonald outlines this week's major general insurance stories including Equity Insurance Group’s insistence that its branch network and plans for regional expansion are safe, despite putting 185 jobs within it’s underwriting and…
185 jobs at risk as IAG UK wields axe
Post has learnt that Equity Red Star, the UK arm of Insurance Australia Group, is set to make a host of staff redundant as part of sweeping cuts across the business. A total of 185 jobs are at risk.
Software start-up eyes 500 000 policies
Start-up broker software provider Wanna Insure has set a target to write 500 000 policies by the end of its third year of trading.
New insurance software platform launched
Regional brokers and insurers including Axa Insurance, Equity Red Star and Markerstudy are supporting the launch of a new end-to-end software platform.
Gorman joins Inter Resolve to expand model
Inter Resolve has appointed a former Equity claims operations manager to the newly created role of head of claims as part of plans to expand its business model.
Utley gears up for IPO
Neil Utley is stepping up his plans for a flotation of motor and home insurer Hastings Direct, according to newspaper reports.
Equity Red Star adds to personal accident product
Insurer Equity Red Star has added a new level of cover to its family personal accident plan.
IAG buys reserve deterioration reinsurance for UK arm after $121m loss
Insurance Australia Group has conceded that it will report "a greater than expected insurance loss" of $121m (£76m) from its UK operation when it unveils its half year results on 24 February 2011.
Triumph stays with Equity Direct
Following a tender process Equity Direct Broking Limited said it has retained its affinity partnership with Triumph Motorcycles.
CEGA launches new product
A new product that unites the handling of personal accident and travel claims and the provision of emergency medical assistance has been launched by CEGA Group Services.
New equity for Towergate
Towergate Partnership has secured new equity investment, after signing a preliminary agreement with an international private equity house, Post understands.
Warning over reserves as retirement age rises – Post in print: 16 December 2010
Senior reporter Leigh Jackson outlines the main news from this week's issue of Post, which includes reports that insurers have been urged to review their reserves, as the proposed abolition of the retirement age could see claimants seeking increased…
NTR approaches £1.5m GWP in pilot
The Network Trading Room, a trading environment housed within the Broker Network exclusively for members, has today confirmed that it has written almost £1.5m GWP since trading began in August 2010 during a pilot for the service.
Interview - Ian Foy: Return journey
After an antipodean adventure lasting 10 years, Insurance Australia Group's Ian Foy is back in Britain as UK CEO. He tells Jonathan Swift about the challenges he faces to turnaround the business and why IAG is here to stay.
Interview - Adrian Colosso: The comeback kid
Having come close to going bust in 2005, Daniel Dunkley talks to Heath Lambert's chief executive Adrian Colosso about the challenges facing the firm as it continues to punch above its weight.
Penny Black's insurance week
As one is aware the insurance industry calendar is littered with sporting events that provide an opportunity for some healthy competition and a little refreshment. But in Penny's humble opinion last week's glittering event punched above the rest.
IAG to retain Equity Red Star
Insurance Australia Group chairman Brian Schwartz has vowed not to sell its embattled UK business Equity Red Star.
Post Intelligence Benchmarking - Commercial Insurers: Waving - or drowning?
Insurance 360's groundbreaking survey of commercial insurers' performance reveals which ones have got their acts together and which ones need to raise their game. Peter Joy reports.
IAG: 2011 to remain “challenging” in UK
Insurance Australia Group has predicted it will encounter further struggles in the UK market in 2011, as the insurer’s UK division aims to recover from a disappointing 2010.
Power Place goes live with fleet
Power Place has added fleet to its panel of products.