Price comparison site Comparethemarket.com has added twelve new car insurance providers to its panel in recent weeks. The new providers are Quote a Car, Broker King, Policy Shop, One Call, Premium Choice, My Motor Quote, Insure Your Motor, 1st Central, Express, Only Insurance, and Insure Pink. The site has received ‘unprecedented’ levels of traffic since [...]
Xchanging has commissioned a survey which reveals that standards of service and claims recovery decline when businesses enter run-off, and that legacy businesses should be outsourced by insurers. The survey was conducted in London during the ARC Congress and showed that four out of five of professionals within the insurance industry are of the opinion [...]
Bluefin Insurance has appointed Peter Elliott as head of marketing. Elliott joins the AXA-owned provider from Rushton International, where he worked as marketing director. Prior to working at Rushton, Elliott led the Travelers’ insurance marketing team, where he developed UK-wide marketing, brand, and PR. At Traveler’s, Elliott worked on developing joint marketing initiatives directly with [...]
Ironshore Inc. has announced the appointment of Mitch Blaser to the post of chief executive officer of Ironshore Bermuda. Blaser has been a part of Ironshore since its inception two years ago and since that time has been at the heart of its senior management. Earlier in his career he worked for Swiss Re’s American [...]
Giles Insurance Brokers has appointed two new board directors. The firm’s retail managing director, Howard Pearson, and its wholesaling managing director, Mark Addis, will both join the board of the independent broker, although regulatory approval has yet to be secured. In addition, Simon Brooke is assuming responsibility for business in the South of England and [...]
Staysure Travel Insurance has plans to launch new online motor and home brands by the summer of this year. The broker has signed a three-year contract with software provider, Open GI, to develop the new business alongside its existing online brands, Staysure.co.uk and Insureme4.co.uk. Staysure.co.uk was launched in 2004 and focuses on the over 50’s [...]
Colemont Insurance Brokers Limited has announced a quartet of new directors for its Aviation division. Andy Edwards, Matthew Farrar, Anthony Frankel, and Doug Ogilvie have been welcomed into their new roles by chief executive officer and chairman of Colemont, Surinder Beerh. Andy Edwards brings with him over 20 years of experience from within the aviation [...]
Insurance broker Neil Cook of Ember JD Insurance, is raising concerns about the cost of insuring whole blocks of flats. He says he is aware that hidden commission charges are being shared between brokers and managing agents at the property owner’s cost. In a recent article in the Observer, Mr Cook suggested that some property [...]
Graham Heath has been named by Aon Global Risk Consulting as the firm’s new Risk Control UK director. He brings with him more than 20 years of management experience in the insurance sector, and was formerly MD of his own firm, Calculated Risks Limited. As director, Heath will be tasked with supporting corporate clients in [...]
Capita Group has acquired personal lines broker, Hero Insurance Services; the purchase has been made from LV=, for around £15 million. Hero was originally the direct insurance subsidiary of Highway Insurance, which the mutual acquired in October of last year. Its personal lines offering includes the AQuote, 1stQuote, Motorcycles United and Telebikes brands. According to [...]
Specialist insurer Ecclesiastical has announced the appointment of Jonathan Harker as the firm’s new regional director for the Southern region. He brings over 24 years of insurance experience to his new post, and during his lengthy career has worked for Pearl and Zurich. Harker joins Ecclesiastical from Zurich where he held a range of posts [...]
Motor insurer, Admiral, has announced that it is launching a business in the US. The company, which operates the confused.com price comparison website plus Diamond and elephant.co.uk, expects to set up initial operations in two states either this year, or early next. Admiral also has plans to launch a price comparison business in Spain. The [...]
The Association of British Insurers (ABI) is warning that all consumers could face higher insurance premiums and less choice because of new age discrimination legislation. The proposed Equalities Bill could restrict the way in which insurers use age in their assessment of risk and according to the ABI, the cost of travel insurance alone could [...]
Risk and reinsurance specialist Guy Carpenter has announced the acquisition of John B. Collins Associates, Inc., the seventh largest reinsurance intermediary in the world. Terms of the deal were not disclosed. Guy Carpenter said the acquisition will strengthen its position in the North American market. “Combining the specialty expertise of Collins with our existing platform [...]
Max Capital and IPC Group have announced plans to merge in an all-stock deal. Board members of both companies unanimously approved the amalgamation agreement, the two insurance firms said yesterday. IPC has agreed to buy Max Capital for around $912 billion in stock. The deal will see Max shareholders receive 0.6429 IPC shares for each [...]
Aviva has agreed a 10-year £700 million contract with EDS, which has been hired to run data services for the insurer. EDS, which is part of the HP group, will operate two data centres located in Norwich providing services for Aviva’s businesses in the UK, France, Ireland and India. According to the insurer’s UK general [...]
The BGL Group has announced a new appointment who will lead the firm’s new Acquisitions team. David Lundholm becomes the new team’s director, and has been with the Group since April of last year, leaving behind Norwich Union where he worked as Innovation Programme director. He first joined BGL to lead ibuyeco, its award-winning carbon-neutral [...]
Amlin has released its preliminary results for 2008. The early figures reveal a pre-tax profit of £121m, down sharply from the £445m recorded for 2007. Return on equity stands at 7.8%, much lower than the previous figure of 37.8%. The insurer increased its net assets by over 15% to a little over £1.2bn, a rise [...]
Stricken insurer American International Group (AIG) has reported the largest quarterly loss in US corporate history, at $61.7 billion. The group posted a net loss of $99.3 billion for the whole of 2008, compared with a net profit of $6.2 billion in 2007. AIG has also secured a new bail-out package worth $30 billion, from [...]
