Insurance broker and risk adviser Marsh has announced that it is to bolster its Market Relationship Management team (MRM). Tracy Harrington and Sarah Powell are both to be based in London and will be dedicated to enhancing the firm’s market relationships with Europe, the Middle East and Africa (EMEA). Harrington leaves behind the post of [...]
Friends Provident has shelved plans to sell its 52% stake in F&C Management, the global asset manager that focuses on institutional and retail investors. The sale was originally mooted back in December of 2007 after Friends’ failed bid for closed life consolidator, Resolution, left the future of the company in doubt. However, no buyer has [...]
LV=, the mutual insurance and investment group, has announced that it is to team up with ASDA, which in addition to its well-known supermarket network also provides financial services. Under the deal ASDA customers will benefit from a range of road rescue products provided to it from LV=, through the insurer’s Britannia Rescue division. The [...]
Swiss Re’s chairman of the Board of Directors, Peter Forstmoser, has resigned. He is to be succeeded by the vice chairman, Walter B. Kielholz, with Forstmoser officially relinquishing the role on 1 May of this year. Mathis Cabiallavetta is to take up the post of vice chairman. Forstmoser has stated that he has stepped down [...]
Unicorn Underwriting, which specialises in bloodstock, commercially let property and fraud insurance, has secured an agreement with Zurich Insurance to begin underwriting property investors’ business. The firm forms part of the THB group and its Property UK insurance was previously underwritten on behalf of Zurich by the parent company’s risk solutions unit. The product has [...]
Aviva has set up a new broker initiative that it says can provide up to 3,000 local independent brokers with unique access to a range of specifically tailored packages and services. Broker Independence Group is available to all local independent brokers with Norwich Union accounts of less than £800,000 premium. It comprises a dedicated team [...]
Research from Kwik Fit Insurance (KFI) suggests that UK homeowners have reduced the value of their home contents cover by up to one-third over the past year. The economic downturn is forcing consumers to save money wherever they can and the year long study of renewal patterns covering 24 major UK towns and cities, revealed [...]
The Green Insurance Company has announced that it has written its 25,000th car policy since the company’s launch in August 2007. The motor insurance intermediary, which promises to offset 100% of policyholders’ motoring carbon emissions, says last year’s trading exceeded expectations and its team of 60 local staff is likely to be expanded in the [...]
Specialist insurer Hiscox has posted its financial results for 2008. The firm saw a marginal drop in gross premiums written, down from £1,198.9m to £1,147.4m. Its pre-tax profits fell by more than half, recording £105.2m profit compared to the 2007 figure of £237.2m. However its total dividend for the year rose slightly from 12p to [...]
Kwik Fit Insurance (KFI) has reported that sales of home insurance policies increased by 65.8% last month, compared with a year earlier. In February, total home insurance policies held by the intermediary rose to 74,000, following on from an annual rise of 62%, in January. The company also reported a sharp rise in sales of [...]
Credit insurer Atradius posted its biggest ever yearly loss this week due to soaring payouts for customer claims. The group reported a €193 million net loss for 2008, compared to a €163 million net profit in 2007. The loss came despite a 40% increase in turnover from the takeover of Spanish credit insurer Crédito y [...]
Lloyd’s insurer Novae has reported its 2008 results, falling narrowly short of the firm’s record profits posted in 2007. Pre-tax profit for full year 2008 was £40.2 million, compared to £41 million in 2007. Chief executive Matthew Fosh pointed out that the near record results were achieved despite a “much more difficult underwriting and investment [...]
Bupa International has launched a new print and online advertising campaign. Under the “Healthcare. Everywhere.” banner, the medical insurance group is promoting its international cover for expatriates and their families. The campaign has been created by FBH Incite and will appear across a number of international media titles with images that should reinforce brand awareness [...]
Carole Nash Insurance Consultants has posted pre-tax profit of £7.6 million for 2008, up from £6.3 million a year earlier. Turnover at the motorcycle insurance broker rose to £25 million, from £24.9 million in 2007. The firm, which is owned by French insurer, Groupama, attributes some of the rise in earnings to a range of [...]
Brit Insurance is relocating its corporate headquarters to The Netherlands. The UK-domiciled general insurance and reinsurance group announced the news as it reported a pre-tax profit of £89.2 million for 2008, against pre-tax profit of £191.2 million a year earlier. The company has been examining relocation options since last summer, when together with a number [...]
Cullum Capital Ventures (CCV) has expanded in the West Midlands with the acquisition of Brian Potter & Associates, based in Tamworth. The purchase is CCV’s 36th in two-and-a-half years and will add over £2 million to the group’s gross written premium, taking the total to around £240 million. CCV focuses on investing in established regional [...]
