Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 21st of January 2018
November 30, 2007

New Directive Could Lead To Fines For 9 In 10 Businesses, Say R&SA

by Stewart Douglas

Story link: New Directive Could Lead To Fines For 9 In 10 Businesses, Say R&SA

Over 9 in 10 businesses could be subject to up to £5,000 in fines and penalties after the Energy Performance Buildings Directive comes in to force for failure to comply with the law, according to a survey released today by Royal & Sun Alliance, with as much as two thirds of business surveyed completely unaware […]



Ping An Buy 4.2% of Fortis

by Stewart Douglas

Story link: Ping An Buy 4.2% of Fortis

Chinese assurance giant Ping An has today announced it has acquired a stake in insurance group Fortis in a move that proves to be the latest in a long line of investment from Asia into European based financial services companies off the back of strong economic growth in the region. Ping An is thought to […]



Specialist car insurers not always best

by Richard Kilner

Story link: Specialist car insurers not always best

Specialist motor insurance that focuses on good deals for certain demographics, such as women or the elderly, may be far more costly than many high street names, according to new research by moneysupermarket.com. The premiums offered by specialist insurers frequently range from 30-100% more than other firms, clearly showing that a specialist insurer is not […]



RBS appoint new director of motor underwriting

by Richard Kilner

Story link: RBS appoint new director of motor underwriting

Andrew Goldby has been appointed as director of motor underwriting by the Royal Bank of Scotland. Goldby is well-known as an actuary in the motor insurance sector. He will leave behind Groupama Insurance where is presently employed as motor underwriting director. Goldby will join the firm on 2 January and will report directly to Chris […]



GAB Robins names new leader for subsidence and building

by Richard Kilner

Story link: GAB Robins names new leader for subsidence and building

Nigel Barham has been appointed by GAB Robins to lead its UK subsidence and building division. Barham has over 15 years of experience in developing project managed services for subsidence and building damage claims and is a Chartered Loss Adjuster and a Chartered Civil Engineer. He is a member of both the DEFRA and ABI […]



Santa not insured for sleigh ride

by Brian Turner

Story link: Santa not insured for sleigh ride

A traditional ride in his “sleigh” by Santa this year will be cancelled – due to lack of insurance coverage. The traditional sleigh ride around Alnwick and surrounding Northumberland villages has been a feature for three decades. However, Alnwick Council have been informed that their motor insurance will not cover the event this year. According […]



Launch of Barbican Lloyd’s Syndicate

by Gill Montia

Story link: Launch of Barbican Lloyd’s Syndicate

Barbican, a new Lloyd’s Syndicate with a £75m stamp capacity, has been launched today. The syndicate is supported by US private investment funds, Steel Partners II, LP and funds managed by Carlson Capital LP. It will be led by Mark Harrington, who has obtained approval in principle from the Lloyd’s Franchise Board to begin underwriting […]



Chaucer Announce Growing Dividend Payments

by Stewart Douglas

Story link: Chaucer Announce Growing Dividend Payments

Insurance parent company Chaucer Holdings has today announced that its board of directors have recommended an increased dividend payment of £5.00 per share, up 25% from the dividend declared by the company last year, reflecting an increase in profitability overall from its insurance business divisions. The company, which holds amongst others insurer Chaucer has announced […]



November 29, 2007

Abbey Protection Floats On AIM

by Stewart Douglas

Story link: Abbey Protection Floats On AIM

Professional insurance specialist Abbey Protection plc has today begun trading on the Alternative Investment Market (AIM), in a move that will see its shares openly traded to ensure steady cash flow and improve capitalisation capacity at the firm, with a view to funding long term growth projects. The group focus mainly on the provision of […]



Arista hires new underwriter

by Richard Kilner

Story link: Arista hires new underwriter

Arista Insurance has appointed Fiona O’Rourke as a underwriter in the firm’s Redhill branch. She leaves behind NIG, where she was employed as an underwriter. Earlier in her career she has been employed by Road Runner and Motor Trade Solutions. O’Rourke’s new duties will include underwriting current and future motor fleet and motor trade business. […]



Zurich recruit Quinton to lead Retail and Partnerships

by Richard Kilner

Story link: Zurich recruit Quinton to lead Retail and Partnerships

Mike Quinton has been named by Zurich as their new managing director of Retail and Partnerships. He will take up the role from 1 January 2008. He will succeed Mark Searles, the firm’s chief marketing officer, who has supervised the retail business since 2007’s start. Searles has been credited with massive improvement in the retail […]



Aviva name new chief risk officer

by Richard Kilner

Story link: Aviva name new chief risk officer

Marcelo Cruz has been appointed by Aviva to serve as its new group chief risk officer. Cruz leaves behind his position at Lehman Brothers, in New York, where he held the role of senior risk manager with responsibility for risk analytics. Earlier in his career he was the creator and MD of RiskMaths, a boutique […]



Prudential reattribution delayed

by Gill Montia

Story link: Prudential reattribution delayed

Prudential’s 4.5 million with-profits policyholders have been told that they will have to wait another six months for a final decision on their eligibility for a share of the insurer’s “inherited estate”. The estate comprises a 150-year-old with profits sub-fund, valued at £8.7 billion. A review has been running since March of this year and […]



November 28, 2007

Catlin Announces Forecast Writedowns

by Stewart Douglas

Story link: Catlin Announces Forecast Writedowns

Insurer Catlin has today announced its expectations of a writedown totalling $75 million in recognition of losses it sustained against sub-prime linked securities, most of which value was eradicated during the sector collapse of the early summer months. The group said that it had managed to offload a proportion of its sub-prime debt, although it […]



DLA Piper Discloses Towergate Influence

by Stewart Douglas

Story link: DLA Piper Discloses Towergate Influence

Leading corporate law firm DLA Piper has today announced that they played an instrumental role in Towergate’s acquisition of The Broker Network, drafted in as legal advisers to the move worth in excess of £95 million made yesterday. The top-flight law firm has a previous track record in managing and advising corporate strategy and large […]



eBay teams up with Prudential to promote healthy living

by Richard Kilner

Story link: eBay teams up with Prudential to promote healthy living

Private medical insurance premiums could be lowered simply by purchasing fresh fruit from the supermarket or shopping on eBay, due to the latest range of products of private medical insurance just released. Private Medical Insurance firms have decided the best way to promote healthy living amongst their policyholders is to offer reduced gym membership fees, […]



68% of motorists could save money by switching provider

by Richard Kilner

Story link: 68% of motorists could save money by switching provider

Research conducted by Tesco Finance has discovered that thousands upon thousands of motorists are losing money by not switching their car insurance to more competitive providers. In the last year only 32% of respondents had changed their car insurance provider, with 10% stating that they had never changed provider or have had the same provider […]



Marsh UK appoints new chief executive

by Richard Kilner

Story link: Marsh UK appoints new chief executive

Artur Niemczewski has been appointed by Marsh as its new chief executive, multinational for Marsh UK. Niemczewski leaves behind Willis where he had a range of top flight positions, such as chief operating officer, International. More recently, he presided over the specialty and wholesale businesses’ transformation. Earlier in his career Niemczewski held executive positions with […]



Tesco Home Insurance offers free Christmas cover

by Gill Montia

Story link: Tesco Home Insurance offers free Christmas cover

Tesco Home Insurance is offering customers extra cover over the Christmas period at no charge. The retailer is providing an additional 10% of contents cover from December 1st 2007 to January 15th 2008, and this can be combined with any other discounts relating to a specific policy. Allan Burns, head of Tesco Home Insurance, is […]



The Broker Network and Towergate In Takeover Agreement

by Stewart Douglas

Story link: The Broker Network and Towergate In Takeover Agreement

Intermediary group The Broker Network has today received and accepted a takeover approach by Towergate for its business and assets, valuing the company at just under £100 million, as the company looks to expand its reach through its aggressive programme of targeted acquisitions. The announcement today was made to the London Stock Exchange, to the […]