Independent insurance broker Giles Insurance Brokers Ltd has been ranked 13th in the Sunday Times Buyout Track 100. The Buyout Track 100 rates companies backed by private equity with the fastest growing profits over the last two years. Over the period Giles’ profits have skyrocketed by 90% per year from £6.3m in 2007 to £22.8m [...]
Capita Insurance Distribution has a new business development director. Martin Williams will be responsible for driving business in new and existing markets with a specific focus on strategic partnerships. He will also contribute to the development of the affinity arm of the business with the aim of providing an increasingly structured approach to growth. Mr [...]
Crawford & Company has announced its financial results for the year and quarter ended 31 December, 2009. In Q4 the firm generated consolidated revenues of $238.4m, down from the same quarter in 2008 when revenue was $262.9m. Attributable net income for the quarter was $8.9m, a 6% rise on the $8.3 net income of Q4 [...]
Kwik Fit Insurance has reported its strongest sales figures for a single day since the company was established in 1995. The Lanarkshire-based firm saw more than 2,000 new policyholders signing up to the Kwik Fit Insurance brand in just 24 hours, with sales of new car insurance policies topping 1,600, alongside 400 new home insurance [...]
Some insurers are eroding their profits by competing for a larger slice of the UK corporate pensions market, The Guardian has reported. According to the newspaper, industry analyst Nick Cazalet is warning that several major insurers are competing fiercely for intermediary-arranged corporate pensions, despite evidence that much of the business will prove to be loss-making. [...]
Aviva saw a 21% rise in worldwide life and pensions sales in the fourth quarter of 2009, to £8 billion, compared with the previous three month period. The group said it had put in a strong regional performance, with life and pension sales up 17% in the UK, 39% in Aviva Europe and 45% in [...]
Aon Corporation has announced its financial results for 2009 and for the final quarter of the year. Attributable net income in Q4 was recorded at $198m, equating to $0.69 per share, comparing very favourably with the $6m loss incurred in the same quarter in 2008. However, for the year as a whole net income fell [...]
Willis Group Holdings plc has announced the appointment of Stephen E. Wood to the role of interim chief financial officer. He joined the firm four years ago, and brought with him almost two decades of industry experience. Previously, he had worked for Annuities at GE Life (UK), a subsidiary of General Electric, as divisional chief [...]
Research from AXA has recently revealed that Britons under-insure their homes to the monumental tune of £255bn, potentially leading to a great financial burden for those who have to make a claim. Compiling an inventory has the double benefit of reducing the chances of being under-insured and making it easier to track belongings if a [...]
Specialist Lloyd’s based insurance and reinsurance business Hardy Underwriting Bermuda Ltd has announced it is appointing three new directors to its board, two of whom will be non-executive. Fiona Luck and Anthony Taylor will take their seats as non-executive directors. Luck was most recently chief of staff and special adviser to the chief executive officer [...]
Global specialty insurer Torus has announced the appointment of Louis Scott to bolster the London-based Power & Utilities team. The appointment, which is effective immediately, will see Scott report directly to Ben Wilson, the global head of Power & Utilities. Scott joins Torus from Aon, where he worked within Aon Power as Team Leader for [...]
Mike Bruce has been named by Bluefin Insurance Services as the firm’s new chief development officer. Bruce is a former group managing director of broker Heath Lambert, and will take up his new post from 1 March 2010. He will take up a place on the Management Committee, and be tasked with the formulation and [...]
Global insurance broker Willis Group Holdings plc has announced its financial results for the fourth quarter of 2009, and for the year as a whole. For the quarter, the firm enjoyed net profits of $79m, or $0.47 per diluted share, significantly better than the $61m or $0.37 per diluted share made in Q4 2008. It [...]
International speciality property/casualty insurer and reinsurer Catlin Group Limited has announced the appointment of Martin Zingg as chief investment officer. Priot to joining Catlin, Zingg worked for Swiss Reinsurance Company and occupied a number of senior investment roles with the firm. Most recently, he was head of private equity and managing director of asset management [...]
The Jelf Group has relocated its Ringwood office and 92 members of staff to Endeavour House on Crow Arch Lane in the Hampshire town. The Ringwood location is one of the all-service financial consultancy’s larger hubs and the centre of operations for its healthcare insurance businesses. The firm says the move is a significant investment [...]
Standard Life has published new business results for 2009 unveiling “an impressive performance in a year of challenging markets”. In the three months to the end of December, life and pensions net inflows were over three times higher than a year earlier at £1.3 billion (Q4 2008: £0.4 billion). Furthermore, life and pensions sales of [...]
XL Insurance has announced the appointment of Patrick Tannock as president of XL Insurance (Bermuda) Ltd, and as country manager. Tannock’s appointment is effective from 22 February, and he will be directly responsible to XL Insurance International Property & Casualty Regional Operating Officer Donal Kelly. He brings to the post more than two decades of [...]
Giles Insurance Brokers Ltd has invested £500,000 in a new regional ‘super-office’ in Llantrisant. The opening ceremony at Magden Park, Llantrisant, was attended by Welsh First Minister Carwyn Jones, along with Giles Chief Executive Officer Chris Giles and Regional MD Mike Jones. The hefty investment is one of the largest Giles has made in recent [...]
ALC Health has announced that it has taken steps to help speed up the claims process by accepting claims from corporate clients submitted as scanned email attachments. This will cut out the necessity of requesting original documentation by post and thereby greatly reduce the time needed for a claim to be fully processed. It also [...]
Insurance broker and risk adviser Marsh has announced the appointment of Martin Clark as UK Leader of its Energy Claims team. In his new role Clark will have overarching responsibility for the management of energy claims written in the London insurance market. He is to be based in London, and brings with him over a [...]
