Insurer
BPO firm expects to see growth in second half of 2010
Xchanging, the business processing company, today said it expected growth to be weighted towards the second half of 2010 due to the time it takes to conclude deals in its markets, including the London insurance market.
Markel builds trade credit team with hires
Markel International intends to build its trade credit division on an excess-of-loss insurance offering after three more senior underwriters joined the insurer from Ace Group.
Half of insurers unsure over MoJ RTA reform
Almost half of insurance firms remain unconvinced by the Ministry of Justice road traffic accident claims reform, according to new research.
Co-op chief hits out over asbestos
The head of general insurance at Co-operative Financial Services has accused the industry of shirking its responsibility by continuing to oppose the formation of a pool for asbestos-related employers' liability insurance claims.
Insurer trio ordered to pay up to £20m over faulty sofas
Axa, Chartis and Travelers will pay a share of up to £20m in compensation to thousands of consumers who received serious chemical burns from sofas manufactured in China.
Chartis CEO scans Europe for possible HQ location
Lex Baugh, president and chief executive of Chartis Europe Holdings, has refused to rule out any insurance centre on the continent as a possible headquarters for the newly established group.
CII revenues rise
The Chartered Insurance Institute has reported a 7% increase in overall revenues to £32.3m in 2009 (2008: £30.3m).
Hiscox tops poll
Hiscox has been ranked as the best performing insurance brand according to the Reputation Institute's UK Pulse Report 2010, which measures corporate reputation among the general public.
Two aggregators relist Quinn as ban is relaxed
Confused and Compare the Market have allowed Quinn back onto their panels after the Financial Regulator gave Quinn Group the green light to write motor insurance cover for provisional driving licence holders in the UK.
Axa targets £150m with mid-corporate launch
Axa Insurance is targeting £150m in new business by the end of 2012, after launching its mid-corporate offering to market.
UK market facing £600m hole with no Quinn
As much as £600m of high-risk motor business could return to the market if Quinn Insurance is not allowed to fully re-enter the UK, according to research by Consumer Intelligence.
Aviva sticks with broker campaign
Aviva is to run further press and radio advertisements advising businesses to seek help and advice through a broker when buying their business insurance.
Fortis affinity boss Carter to lead Tesco Underwriting
Fortis and Tesco Bank have unveiled the structure of their general insurance partnership.
Chartis UK profit falls £241m
Chartis UK full year results for 2009 show the insurer has posted a reduced profit before tax of £83m, down from 2008’s result (excluding restructure) of £324.3m.
Quinn customers and suppliers set to stage lorry demonstration
A demonstration of 300 lorries representing 170 companies will take place tomorrow on behalf of customers and suppliers of the Quinn Group and Quinn Insurance.
Delta Lloyd unveils board changes
Michiel Delfos has been appointed as the successor of Nathalie de Geus with effect from 15 May 2010.
FSA to consult on FSCS changes
The Financial Services Authority has today issued a consultation paper that includes proposed Handbook changes in relation to financial stability and market confidence.
Delta Lloyd unveils board changes
Michiel Delfos has been appointed as the successor of Nathalie de Geus with effect from 15 May 2010.
Talbot appoints new board member
Peter Bilsby has been named head of underwriting management and head of reinsurance purchasing at Talbot, an insurance subsidiary of Validus, and appointed to the board.
‘Toxic sofa’ victims to receive £20m pay out
The High Court has ordered three furniture retailers to pay £20m to customers who received serious burns from sofas manufactured in China in what is thought to be the largest group litigation in UK legal history.
Co-operative Insurance calls for ELIB
David Neave, director of general insurance at Co-operative Financial Services, has called on the insurance industry to fund an Employers’ Liability Insurance Bureau.
Aerospace insurance costs continues steady descent
Reduction in exposure to risks throughout the aerospace sector means insurance costs are falling and further reductions are likely this year, according to Aon's Aerospace Insurance Market Outlook 2010.
Generali appoints chairman and chief exec
Generali, the largest Italian insurer, has named Cesare Geronzi, the outgoing chairman of its largest shareholder, Mediobanca, as its new chairman and Giovanni Perissinotto as its sole chief executive.
Generali appoints chairman and chief exec
Generali, the largest Italian insurer, has named Cesare Geronzi, the outgoing chairman of its largest shareholder, Mediobanca, as its new chairman and Giovanni Perissinotto as its sole chief executive.