Daily Insurance Industry News
 
 
Daily Insurance Industry News
Monday 22nd of January 2018
October 26, 2009

Kwik Fit recruits 89 staff

by Gill Montia

Story link: Kwik Fit recruits 89 staff

Kwik Fit Insurance is recruiting new staff at its Lanarkshire headquarters, where it expects to employ over 1,000 by the turn of the year. The insurance intermediary will be filling 84 new posts between now and January 2010 and local jobseekers are invited to a recruitment day on Saturday 31st October between 11.00 am and […]



Standard Life’s Canadian business may go up for sale

by Gill Montia

Story link: Standard Life’s Canadian business may go up for sale

Standard Life is believed to have asked advisers to review its Canadian business with a view to a sale, The Independent has reported. Such a move would have come only days after the Edinburgh-based insurer announced that David Nish is to succeed Sir Sandy Crombie as group chief executive officer, effective from 1st January. The […]



October 25, 2009

L&G shows interest in Lloyds’ UK property assets

by Gill Montia

Story link: L&G shows interest in Lloyds’ UK property assets

Legal & General (L&G) is reported to be talking to Lloyds Banking Group regarding the sale of UK property assets that have seen spectacular falls in value during the credit crisis. Earlier this month, the group announced that its L&G Property unit had completed over £110 million of acquisitions as part of a major investment […]



Open GI signs up Close Premium Finance

by Gill Montia

Story link: Open GI signs up Close Premium Finance

Open GI has entered into a three-year agreement with Close Premium Finance (CPF), a provider of electronic premium finance software with over 2,500 customers in the UK and Ireland. Electronic premium finance enables brokers to increase earnings and save costs by delivering a point of sale service than includes a reconciliation facility. According to Open […]



October 23, 2009

Travel insurance for over 50s with pre-existing conditions launched

by Richard Kilner

Story link: Travel insurance for over 50s with pre-existing conditions launched

Over 50s insurer staysure.co.uk has enhanced its offering with the creation of a new service aimed at improving the options of those with pre-existing medical conditions. The firm has launched a comprehensive new product which covers a large number of minor pre-existing conditions free of charge. Staysure.co.uk’s medical screening programme will also offer those with […]



Reinsurance suffers VAT ruling

by Richard Kilner

Story link: Reinsurance suffers VAT ruling

The European Court of Justice has ruled that VAT is now payable on reinsurance contracts, in a reversal of standard industry practice. It raises fears that those selling reinsurance and insurance will suffer damage to cash flow in light of the ruling, made on a case involving Swiss Re. The case related the sale of […]



Heath Lambert poach Baker

by Richard Kilner

Story link: Heath Lambert poach Baker

Heath Lambert has announced that it is bolstering its corporate division with the hiring of Judy Baker to lead the division. Baker leaves behind Bluefin Insurance to join Heath Lambert, and brings with her a combination of a strong track record and decades of experience in the corporate sector. She began her career with Sun […]



Aviva appoints chief financial officer

by Gill Montia

Story link: Aviva appoints chief financial officer

Aviva has announced the appointment of Patrick Regan as chief financial officer, replacing Philip Scott who steps down at the end of the year after a 36-year career with the group. Mr Regan will take up his post during February 2010 when he will also join the group board. He is moving from Willis Group […]



Car premiums rise at fastest rate in 15 years

by Gill Montia

Story link: Car premiums rise at fastest rate in 15 years

The AA’s car insurance premium index shows average premiums increasing 14% in the past year. In the last quarter alone, typical premiums surged 5.6%, rising at their fastest rate since the AA began keeping records 15 years ago. Motorists who shop around can expect to pay £522 on average for fully-comprehensive cover, whereas those who […]



October 22, 2009

Direct Travel Insurance offers ski insurance advice

by Richard Kilner

Story link: Direct Travel Insurance offers ski insurance advice

As winter approaches and the thoughts of some travellers drift towards booking skiing and snowboarding holidays, Direct Travel Insurance has advised travellers to consider carefully when browsing for insurance. Given the combination of cold weather, high speeds and competitiveness the insurer advocates ensuring travellers are covered for Search and Mountain Rescue, as well as helicopter […]



Custodial sentence for £1.6m “crash for cash” scammer

by Gill Montia

Story link: Custodial sentence for £1.6m “crash for cash” scammer

A man appearing before Manchester Minshull Street Crown Court has been jailed for four-and-a-half years after pleading guilty to involvement in a £1.6 million “crash for cash” conspiracy. Mohammed Patel pleaded guilty to 17 charges, including conspiracy to defraud, dangerous driving and disqualified driving. Between 2005 and 2008, he staged at least 93 motor vehicle […]



Zurich security breach affects 51,000 customers

by Gill Montia

Story link: Zurich security breach affects 51,000 customers

Zurich Insurance plc has announced that it has written to around 51,000 general insurance customers and other parties in the UK regarding the loss of a back-up data tape in South Africa. The tape, which also holds details of customers and other parties in South Africa and Botswana, was lost in August 2008 during a […]



Aviva CEO compromised in office affair rumours

by Gill Montia

Story link: Aviva CEO compromised in office affair rumours

Rumours of a romantic affair between the chief executive of Aviva and a junior employee have resulted in the group’s chairman, Lord Sharman, speaking to The Times. Chief executive, Andrew Moss, reportedly arranged for the member of staff with whom he is linked to be seconded to his office and his reputation has been put […]



October 21, 2009

Ironshore expands into Lloyd’s Property business

by Richard Kilner

Story link: Ironshore expands into Lloyd’s Property business

Ironshore Inc. has been given the green light to write direct and facultative property business on behalf of its Pembroke Lloyd’s Syndicate. The team will underwrite a broad range of property risks, with an emphasis on international business. Rod Todd has been named as the head of the Lloyd’s Property Operation, and joined Ironshore two […]



Zurich named Marketer of the Year

by Richard Kilner

Story link: Zurich named Marketer of the Year

Global insurer Zurich Financial Services Group has won the Direct Marketing Association’s (DMA) Marketer of the Year Award. The award is given to a firm or individual who has combined corporate and environmental responsibility with a direct contribution towards marketing excellence during the course of the last year. Zurich’s Chief Marketing and Communications Officer Arun […]



Cooper Gay bolsters Latin American presence

by Gill Montia

Story link: Cooper Gay bolsters Latin American presence

Cooper Gay has announced that it has acquired a majority shareholding in Reinsurance.com.ar, a specialist reinsurance broker with offices in Miami and Buenos Aires. The firm, which focuses on the Latin American treaty and facultative reinsurance market, was established in 2006 by Guillermo Pastore who will be retaining his post as chief executive officer following […]



GMAC divests property & casualty business

by Gill Montia

Story link: GMAC divests property & casualty business

US financial services giant, GMAC Inc, is proposing to sell its property and casualty insurance business to American Capital Acquisition. The transaction is pending regulatory approval and other customary closing conditions. The group says its dealer-related insurance business (which includes extended service contracts and insurance for auto dealer inventories) is not affected by the move. […]



HomeServe to close Property Repair & Anglia units

by Gill Montia

Story link: HomeServe to close Property Repair & Anglia units

HomeServe has announced the proposed closure of its HomeServe Property Repair and Anglia businesses. The company, which specialises in emergency cover and repairs for homeowners, has been pushed into operating losses by falling retention rates, while at the same time being deserted by a major client. However, its core membership operations will not be impacted […]



October 20, 2009

Towergate acquires Hull broker

by Gill Montia

Story link: Towergate acquires Hull broker

Towergate Partnership has strengthened its presence in the North East with the acquisition of Rixon Matthews Appleyard Ltd. The Hull-based firm, which employs 25 staff, will complement the group’s existing broking operations in the city. Rixon Matthews Appleyard has been trading for over 40 years ago and controls premiums of £10 million. The firm has […]



Aon Risk Services appoints Bayeux as MD

by Richard Kilner

Story link: Aon Risk Services appoints Bayeux as MD

Aon has announced the appointment of John Bayeux to the role of managing director of Aon Risk Services. Bayeux brings with him decades of industry experience and during his lengthy career in financial services has operated as both a risk manager and insurance broker. Before joining Aon in August he worked for Willis as an […]