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Truell among bidders linked to Co-op sale
Mark Summerfield, managing director of The Co-operative Insurance, has said the planned sale of the general insurance business is “entirely in line with the group’s strategy” to build a “compelling competitor in high street banking that customers will…
Equity pair hit with Lloyd’s sanctions
Equity Red Star’s former active underwriter and finance director have been hit with Lloyd’s costs and barred from holding Lloyd’s director positions.
Market Moves: Brokers bring in more new recruits with JLT, Marsh and Willis welcoming fresh faces
Brokers Marsh, Willis and JLT dominated the broking space this week with a raft of new appointments. Marsh created a new corporate division, JLT added three new staff to its financial institutions team and Willis recruited chief executives for its…
Utley set to press on with Hastings IPO despite Lloyd’s Equity settlement
The outcome of a Lloyd’s investigation into former Equity Red Star chief executive Neil Utley is unlikely to affect plans to float at Hastings where he is currently chairman, according to market observers.
PI law firm to expand after securing equity
A Scottish personal injury legal firm has received a "six-figure" loan from Clydesdale Bank with the view of doubling its office space.
IAG to write off $260m following Equity sale to Aquiline Partners
Insurance Australia Group has announced that it recorded a loss of $182m in respect of its "discontinued" UK operations in the six months to 31 December 2012.
Utley settles on Lloyd’s Equity charges
Former Equity chief executive Neil Utley has been barred from applying for Lloyd's director positions for two years under terms agreed in a settlement on charges of detrimental conduct.
Equity adds Dacia to partnerships roster
Equity’s affinity arm has struck a three year deal to offer insurance to purchases of all new Dacia cars.
Confusion over Autofocus retrials
Solicitors have called for clarity over settled Autofocus claims after the Court of Appeal found cases that relied on dishonest evidence provided by Autofocus should be retried.
Investment fuels Chase Templeton’s growth plans
Private medical insurer specialist intermediaries Chase Templeton Group has secured investment from Palatine Private Equity.
Your say: Don’t tar all with the same brush
While Post’s story on the ruling in Webster Dixon v Equity Syndicate Management and Motor Plus on non-panel law firm rates charged for before-the-event legal expenses work highlights the importance of the decision for before-the-event insurers, it is…
Equity buys renewal rights to Ecclesiastical's Ansvar motor book
Equity Red Star has secured the rights to broker-sourced Ecclesiastical's motor business, underwritten by its ethical insurance arm Ansvar Insurance.
Judge blasts Equity's 'insouciance' despite legal win on BTE lawyer choice
Before-the-event legal expenses insurers have had their conduct condemned in the Court of Appeal despite securing a legal victory.
Editor's comment: Paying the price for profitability
As 2012 draws to an end, UK insurance industry debate centres on the one topic most likely to dominate headlines come the new year: profitability pressures in the motor insurance market.
Aquiline boosts Lloyd's foothold with cut-price acquisition of Equity Red Star
Aquiline Capital Partners' acquisition of Equity Red Star for £87m – a far cry from the £570m IAG paid for Equity Insurance Group in 2006 – marks the New York-based firm's latest foray into the Lloyd's market.
IAG sells Independent Commerical Brokers for £10m
Insurance Australia Group has sold Independent Commercial Brokers to the existing management team for £10m.
Lloyd's investigation into Utley to conclude next year
The Lloyd's investigation into three former senior figures at Equity Red Star, including Hastings Insurance Group chairman Neil Utley, could conclude around the middle of next year once the Accountancy & Actuarial Discipline Board completes its own…
Scor attributes £5.7bn GWP to a 'robust' business approach
Global reinsurer Scor delivered a 13% jump in gross written premiums to €7.2bn (£5.7bn) in the first nine months of the year owing to "increased visibility in the industry".
Equity Red Star takes over three Ecclesiastical motor accounts
Motor insurer Equity Red Star has picked up three motor schemes written by Ecclesiastical for its subsidiary South Essex Insurance Brokers.
Insurers await outcome of 'dishonest' evidence appeal in Axa case
Several insurers are awaiting a Court of Appeal decision on Axa's use of allegedly "false" Autofocus evidence before potentially resuming out-of-court negotiations with Accident Exchange.
Tungsten founder Truell admits Equity discussions
Edmund Truell has told Post that he has entered into negotiations with motor insurer Equity, adding that he is keen to pursue the deal.
Brownsword recruits LV claims director
Former LV claims lead Phil Anderson has joined Brownsword to act as head of the claims management specialist's advisory board.
Tungsten evaluating Equity bid
The investment vehicle, helmed by Edmund Truell, is believed to be considering an offer for the IAG-owned insures.
IAG maintains silence on UK business sale
Insurance Australia Group has stressed that writing off its remaining goodwill and intangible assets in the UK business is not necessarily a sign that it will sell that division.