Insurer
Terry pockets 50% pay rise as Quindell shares remain suppressed
Quindell executive chairman Rob Terry saw his pay rocket by almost 50% last year after a cash bonus of £720 000 resulted in the outsourcing boss pocketing a total package of £1.32m for 2013.
China aiming to scrap 11m cars
In an attempt to control pollution, Chinese authorities are trying to eliminate 11m high polluting cars from the roads in the next two years.
SRA investigating law firms over non-disclosure to insurers
A total of 23 law firms are being investigated by the Solicitors Regulation Authority for non-disclosure to insurers following last year’s professional indemnity insurance renewal.
IBA urges passporting rethink in wake of Setanta collapse
The Irish Brokers Association has written to Ireland’s Finance Ministry, raising concerns about inadequate regulation in the lead-up to the collapse of Malta-based motor insurer Setanta Insurance.
The Broker Cloud wins Simple and Smart Order
Transactor offshoot The Broker Cloud has been selected to provide a software solution for Birmingham-based broker Simple and Smart Insurance.
Welcome to the bizarre world of insurance fraud
by Sally Griffiths, director at VFM Services Ltd
Engagement ring fraudster jailed for 27 months
A conman who pawned his wife’s engagement ring and then falsely claimed for it on his insurance has been jailed for 27 months.
Slashed offer price sees Saga valued at £2.1bn
Saga executive chairman Andrew Goodsell has expressed his satisfaction at the demand for Saga shares after the offer price was cut to 185p resulting in a market capitalisation value of £2.1bn.
Markel launches biomedical and life sciences combined policy
Markel has developed a biomedical and life sciences combined policy including cover for property damage and business interruption.
Helios signals growth plans as GWP jumps 31%
Helios Underwriting has reported a 31% increase in gross written premiums for the year ended 31 December 2013 up to £11.9m from £9.1m in 2012.
Healthy Pets CEO launches UK mobility scooter cover
The chief executive of Healthy Pets insurance has launched a niche insurance product for mobility and scooter and related markets.
BoE’s Carney fires insurance execs accountability warning
Bank of England governor Mark Carney has warned that the watchdog is building rules to hold insurance executives to account in the case of failures.
Allianz prepares to close operations in Milton Keynes and Bristol
A total of 98 roles will be impacted following Allianz’s decision to close its commercial operation in Milton Keynes and its business insurance centre in Bristol.
FCA urges insurers to investigate claims experience following review
Insurers should do more to collect information from a range of sources throughout the claims process in order to better understand consumer experience, according to the Financial Conduct Authority.
Europe: W&I insurance
Despite M&A activity being on the wane thanks to the recession, a new player is emerging in the form of W&I insurance
Axa tops Brokerbility's insurer service poll
Axa received the highest satisfaction score in Brokerbility’s biannual survey of insurer service standards.
FCA review highlights satisfaction with household and travel insurance
The findings of the Financial Conduct Authority’s thematic review on household and travel insurance show 64% of policyholders were satisfied with the service they received.
Adrian Brown offloads £884k of RSA stock ahead of Gallagher move
RSA’s outgoing UK and Western Europe chief executive Adrian Brown has sold 180 000 RSA shares ahead of his departure to Gallagher.
Axa Assistance partners with Footman James in classic car deal
Axa Assistance has unveiled a new breakdown assistance product for classic car owners in partnership with Towergate-owned Footman James.
Saga lowers float price range
Saga has narrowed the price at which it will sell shares in an upcoming London Stock Exchange floatation, moving towards the lower end of the range.
Amlin sees UK GWP slide for Q1
Amlin has recorded drooping gross written premiums for its UK market business in the first quarter of 2012, while the insurer notched improved figures at a group level.
66 insurer CEOs commit to Geneva Association Climate Risk Statement
66 chief executives of the world’s leading insurers and reinsurers have confirmed their commitment to The Geneva Association’s Climate Risk Statement.
Gallagher subsidiary to become captive giant following HIM deal
Artex Risk Solutions has tied up its first acquisition outside of North America in the form of the specialist captive and insurance management arm of Guernsey-headquartered Heritage Group.
RSA ‘absolutely’ committed to UK motor despite axing 800 brokers
RSA has reaffirmed its commitment to the UK motor market in spite of its decision to sever ties with personal lines brokers where portfolios are dominated by the troubled business class.