Two new travel policies from LV=
by Gill Montia
Story link: Two new travel policies from LV=
LV=, the friendly society formerly known as Liverpool Victoria, has launched two new travel policies: annual and single trip.
Medical cover of up to £10 million is included on both types of policy, as is £2,500 personal possessions cover, £500 for loss of money, £5,000 for cancellation, £250 for travel delays and up to £25,000 for […]
Tamet joins L&G as credit chief
by Richard Kilner
Story link: Tamet joins L&G as credit chief
Legal & General Investment Management has named Christophe Tamet as the firm’s new head of credit.
Earlier in his career he worked within the chief investment officer of JP Morgan Chase as credit chief.
In his new role, Tamet will be directly responsible to Roger Bartley, L&G’s active fixed income chief.
The firm has made the appointment to […]
Bupa invites patients to have a say
by Gill Montia
Story link: Bupa invites patients to have a say
Private healthcare provider, Bupa, is undertaking a survey of over 35,000 patients in 200 hospitals across the UK.
The research will be carried out by the Picker Institute, which specialises in using patients’ experiences to provide feedback on the quality of care they have received.
The survey will span a range of topics, including how well doctors […]
Nationwide offers 20% discount on home cover
by Gill Montia
Story link: Nationwide offers 20% discount on home cover
Nationwide has launched a home insurance offer that gives a 20% discount to those purchasing combined buildings and contents cover.
The offer lasts until 31st July and the discount will be applied for a second year, if the policies are renewed jointly. New customers can save an additional 10% on the first year’s premium by applying […]
Lloyd’s warns of liability crisis for business
by Gill Montia
Story link: Lloyd’s warns of liability crisis for business
Lloyd’s of London has published a report highlighting the dangers of a liability crisis, should businesses fail to get to grips with litigation issues.
The report accompanies the launch of the third series of Lloyd’s 360 Risk project, which provides a forum for debate about key risk issues and their management.
The paper entitled “Directors in the […]
Aviva awards £300m contract to Cable&Wireless
by Gill Montia
Story link: Aviva awards £300m contract to Cable&Wireless
Aviva has awarded a £300 million six-year contract for a communications package to Cable&Wireless Europe, Asia & US.
Under the terms of the agreement, Cable&Wireless will provide the insurer with a full communications suite for its 35,000 staff based in the UK and India.
The suite comprises 72 separate services, including voice telephony, data, local and wide […]
Hiscox Q1 results as projected
by David Masters
Story link: Hiscox Q1 results as projected
Lloyd’s insurer Hiscox Ltd. has reported its results for the first quarter, with premium income falling 10% to £321.3 million.
This is compared to premium income of £358.4 million for the first quarter of 2007.
The Bermuda-based company is a market leader in art insurance, and kidnap and ransom cover.
Despite the poor performance globally, gross written premiums […]
1.15 million motorist risk driving without insurance
by Gill Montia
Story link: 1.15 million motorist risk driving without insurance
New research from Sainsbury’s Car Insurance indicates that 1.15 million people have driven a car in the last 12 months, with no insurance in place.
According to the survey, those aged between 17 and 24 are the commonest offenders, accounting for nearly two-fifths of respondents confessing to this serious offence.
The 25 to 34 year old age […]
CII blames education system for rising skills shortage
by Gill Montia
Story link: CII blames education system for rising skills shortage
The Chartered Insurance Institute (CII) has published the results of its 2008 annual skills survey, which shows that the skills shortage in the financial services sector is worsening.
The survey was conducted online and involved 3,511 CII and Personal Finance Society members.
Of the respondents, 834 were employers. Three-quarters of this group reported shortages of technical skills […]
LGV Capital names new chief executive
by Richard Kilner
Story link: LGV Capital names new chief executive
LGV Capital has announced that Ivan Heywood is to assume the role of chief executive.
Heywood, who succeeds Adrian Johnson, has worked with his predecessor for well over a decade and is a long-term member of the team responsible for the firm’s strong performance in the private equity field.
Heywood has expressed his delight at being appointed […]
Graham made MD of L&G’s general insurance
by Richard Kilner
Story link: Graham made MD of L&G’s general insurance
Peter Graham has been named by Legal & General as the new managing director of the firm’s general insurance business.
He brings 15 years of industry experience to the position, and during his career has served with both esure and Towergate as an executive.
Graham first joined the firm on 25 March of this year, and is […]
Pearl considers tax efficient relocation
by Gill Montia
Story link: Pearl considers tax efficient relocation
company may relocate its headquarters overseas, for tax purposes.
Mr Osmond, who has at different times been the entrepreneurial spirit behind the success of Pizza Express and Punch Taverns, has confirmed that plans to list some of the group’s investment funds offshore already exist.
In an interview with The Times, he stated that it would be […]
Aon petitions Mayor of London on flood defences
by Gill Montia
Story link: Aon petitions Mayor of London on flood defences
Aon is reminding the new Mayor of London, Boris Johnson, that he is ultimately responsible for ensuring the capital is safe from flood.
The broker and risk analyst has paired up with the City Property Association, which represents the interests of owners and occupiers of property in the City, to call on Mr Johnson to publish […]
FSA dissatisfied with insurance comparison websites
by Gill Montia
Story link: FSA dissatisfied with insurance comparison websites
The Financial Services Authority (FSA) has completed a review of insurance comparison websites and concluded that some are misleading consumers by not providing clear and accurate information.
In its report, the regulator states that only a small number of insurance sites provide a full list of policy features and that in the majority of cases, consumers […]
Another record loss for AIG
by David Masters
Story link: Another record loss for AIG
American International Group (AIG) has reported its worst ever quarter in its 89 year history, with net losses of $7.81 billion, or $3.09 per common diluted share.
This is compared to net income of $4.13 billion during the first quarter of 2007.
It is the second consecutive quarter of record losses for AIG, and also the first […]
Max Capital’s Q1 income falls 90%
by David Masters
Story link: Max Capital’s Q1 income falls 90%
Bermuda-based Max Capital has reported its first quarter results, with net income falling by almost 90% on year.
Net income for the quarter was $7.7 million, or $0.13 per fully diluted share. This is compared to $80 million, or $1.24 per fully diluted share, for the first quarter of 2007.
Net operating income was even more […]
Quartet of underwriting appointments for Berkley
by Richard Kilner
Story link: Quartet of underwriting appointments for Berkley
W. R. Berkley Corporation has announced the establishment of Berkley Asset Protection Underwriters, LLC.
The New York-based business will deal with commercial and personal assets, providing a wide range of products to protect them.
Berkley Asset Protection Underwriters will underwrite for StarNet Insurance Company and Gemini Insurance Company, both of which are member companies of W. R. […]
Solvency II upstages credit crunch for European insurers
by Gill Montia
Story link: Solvency II upstages credit crunch for European insurers
Standard & Poor’s (S&P) has published a new report in which it predicts that the fall in value of US sub-prime asset and the broader disruption in the capital markets created by the credit crisis will have limited implications for insurers headquartered in Europe.
The credit rating agency stated that the insurance operations of European financial […]
Willis make trio of senior appointments
by Richard Kilner
Story link: Willis make trio of senior appointments
A trio of senior appointments has been announced by Willis Group Holdings.
The firm’s global specialties division will be bolstered by the addition of Keith Anderson’s appointment to the post of chief financial officer, Nick Dunlop, who will serve as sales director, and new marketing director Giles Wilkinson.
Anderson joins the firm to assume the appointment, and […]
Direct Line launches hotelier policy
by Gill Montia
Story link: Direct Line launches hotelier policy
Direct Line has expanded its Direct Line for Business brand with the launch of a policy aimed at owners of small hotels, guesthouses and bed & breakfast establishments.
Applicants will need to be operating from one property and providing accommodation in a maximum of 12 rooms.
Cover includes public and products liability of up to £2 million […]
