Which? has launched an online tool to help people who have bought Payment Protection Insurance (PPI) and claim that the insurance was mis-sold. Which? estimates that up to two million people may have been sold the insurance when they don’t need it or are unable to make a successful claim. Consumers who believe they fall [...]
Munich Re has proposed four new members for its supervisory board, to be elected at the company’s AGM on 22 April 2009. Six existing representatives have also been put forward for re-election. Peter Gruss, Peter Löscher, Anton van Rossum, and Thomas Wellauer have been nominated as new candidates. Hans-Jürgen Schinzler, Henning Kagermann, Wolfgang Mayrhuber, Karel [...]
Eighty percent of Brits oppose government bailouts for insurers, according to research by the Financial Times. Only one in five of those surveyed said they would support bail-outs of insurance firms, compared to 36% who backed state aid for banks. Two in five backed government support for car manufactuers. The only area of the economy [...]
AXA owned business and marketing development firm Ignition NBS has launched a new range of marketing services to assist brokers in these difficult economic times. The management team at Ignition have heavily invested and researched brokers’ requirements to develop the three new services on offer, which provide web marketing, lead generation, client contact, cross-selling campaigns [...]
JML Property Insurance has announced that it has become an introducer agent in the UK for Rentguard Property Insurance. Residential and commercial lettings are catered for by the products and services on offer from Rentguard, who, in addition to this, also provide Owner Occupier Insurance and UK Holiday Home Insurance. Philip Suter of JML has [...]
Allianz Insurance has announced its financial results for the full-year of 2008. IFRS operating profit soared by more than a third (36.8%) to £193.6m, up from £141.5m in 2007. The Commercial business, Allianz Legal Protection and Petplan all saw growth during 2008, despite difficult economic conditions. Andrew Torrance, chief executive officer, has expressed his pleasure [...]
Health insurer Bupa has released research which shows that workers throughout the UK are living in fear of losing their jobs. Women are more anxious than men regarding the possibility, with a quarter more women than men asking for advice about coping with redundancy in the last six months. In fact, since September of last [...]
BikeDevil.Net, a motorbike website, has launched Bike Devil Insurance, with its comparison insurance service offering customers a branded insurance solution which searches 95% of all motorcycle brokers. Bike Devil has collaborated with Only Insurance to offer the service, which has been designed to be user friendly and fast. Prices will be listed from brokers, direct [...]
AXA has announced that now Acturis users will be able to benefit from access to its range of core household insurance products. Acturis users will have access to ABC, ABC Lite and Extra, and to make it easier and quicker for brokers to handle their household insurance business all the products will be hosted as [...]
Mancunian insurance broker and financial services firm CBG Group plc has announced its full year results for 2008. Revenue soared by almost half (49.9%) to hit £11.1m and adjusted pre-tax profits were up by 17.5% to £2.2m, up from £1.9m the previous year. Over the course of 2008 both Barclay Brown and EDN were acquired [...]
Independent insurance broker Heath Lambert has announced a number of important trading figures for 2008′s performance. Continuing operations delivered recurring operating revenue of £100m, with EBITDA (earnings before interest, tax, depreciation and amortisation) remaining steady at £17.5m. Overall the firm’s income expanded last year due to broadening its client base whilst retaining its existing customers. [...]
Glacier Insurance AG has announced that it has appointed Alex Campbell to the post of senior property underwriter. He brings with him over two decades of industry experience, and leaves behind the post of vice president with Arch Insurance Company (Europe) Ltd to join Glacier. Whilst with Arch Insurance Campbell established the company’s underwriting team [...]
Global insurance broker Willis Group Holdings has announced that it is forming a new unit, Willis Facultative, which combines the facultative units of Willis and Will Re. Willis Facultative will bring together the firm’s facultative specialists into a single global business unit, and provide a clear entry point across the world to insurance company clients. [...]
Theft from vans is rife in the UK, with 21 vans being broken into every hour, research from Direct Line for Business has revealed. Over 550,000 vans have been broken into in the last three years – hardly surprising considering one in six van drivers don’t bother to lock their vehicle. Half of vans have [...]
Price comparison website Confused.com has welcomed M&S back to its home insurance panel. M&S had withdrawn from the panel whilst it changed underwriters from Aviva to Axa. Peter Ablett, Confused.com commercial director, said: “The return of M&S to our site is wonderful news and will strengthen our ability to get customers the best policies at [...]
Rival underwriters Novae and Chaucer will not merge after talks between the two companies fell through. Novae said it had not been possible to work out a deal that was in the interests of shareholders. Chaucer, which recently reported its first annual loss in seven years, said it is in continued discussions with other companies [...]
W. R. Berkley Corporation has announced the appointment of Douglass E. Pfeifer as the new president of Riverport Insurance Company, with immediate effect. Riverport provides property and casualty insurance products and services for government bodies, human services organisations and others. Pfeifer succeeds incumbent president Kenneth R. Hopkins who is to retain his seat on the [...]
Omega Insurance Holdings Limited has posted its financial results for 2008, with profits down 56% on year. Profit for the fiscal year ending 31 December 2008 was $22.21 million, or $0.14 per share, compared to $50.54 million, or $0.33 per share, in 2007. Pre-tax profit was $28.22 million, down from $59.48 million the previous year. [...]
Starr International has appointed AIG’s chief reinsurance officer Charles (Chuck) Dangelo into three executive positions. His departure follows a growing number of AIG executives who have left for positions at other insurance companies following the group’s government bailout in September 2008. Dangelo takes up the positions of chief executive for Starr Indemnity and Liability, chief [...]
Beazley Group plc has announced that it has promoted Patrick Hartigan and that he will be leading the firm’s Reinsurance division. Hartigan, who assumes his new role on 1 August, will report directly to Neil Maidment, underwriting committee chairman. Maidment is to retain a supervisory role over the Reinsurance division, as well as the Political [...]
