RSA is convinced that economic recovery is on its way and warning UK manufacturing businesses to check out their insurance cover as orders increase. Since mid-2007, orders have decreased significantly, resulting in substantial job cuts and site closures. However, new figures from manufacturers’ organisation, EEF, show growth in both output and orders, and the insurer [...]
THB Clowes, the motorsport insurance specialist, has launched a new online quote system. The new system, On-Track, gives professionals and amateurs a quick and easy way to change their on-track insurance coverage. Managing Director Karen Ellis has expressed the firm’s pride at its intimate relationship with the motorsport business, and said that the firm has [...]
Insurance broker and risk adviser Marsh has announced the appointment of Phil Angus to lead the Financial and Professional (FINPRO) National business in the Northern Region. Angus formerly led Marsh’s insurance broking operations on the Isle of Man, a post he held for five years before his new appointment. Angus will be based in Manchester [...]
Novae Group plc has released its preliminary financial results for 2009. The firm recorded underlying pre-tax profits (excluding foreign exchange loss on non-monetary items) of £17.7m, down substantially on the £27.3m of 2008. Including notional foreign exchange loss the pre-tax profits were further reduced to £4.2m. Post-tax profits were recorded at £26.4m, down from £37.1m [...]
Capita Insurance Distribution’s pet insurance arm Thornside has announced it is collaborating with Home Retail Group to administer its new pet insurance programme in Ireland. Thornside presently offers home insurance via Home Retail Group’s UK-based brands Argos and Homebase brands and will expand upon this to provide the firm’s Irish Argos brand with sales, fulfillment [...]
Auger is claiming an industry first with the launch of a new insurance-backed warranty scheme. The drainage inspection specialist has developed DrainShield UK, an independent, stand-alone, decade-long warranty on any work carried out by the firm. Cover applies across both the commercial and domestic property sectors and is transferable from one property owner to another. [...]
Male drivers are almost one-and-a-half times more likely to have a motoring conviction than their female counterparts, although it should be noted that men are clocking-up 20% more mileage than women, on average. According AA research 18% of the UK’s motorists have at least one conviction (compared with 14% a decade ago) and 4% have [...]
Halo Insurance Services has been launched today. The underwriting agency, which is backed by Bridges Ventures and Magenta Partners, will focus on niche personal lines offerings for both wholesale and retail customers. The firm has set out with a suite of car hire excess products available through brokers and affinity partners under the Halo Insurance [...]
Commercial lines underwriting specialist Arista Insurance has named Neil Wormald as broker development manager for the North East. He brings extensive experience in commercial insurance to the post, as well as local knowledge. He joins Arista from NIG, where he served as regional manager and was based in Leeds. As broker development manager Wormald will [...]
Specialist independent (re)insurance broker Miller has announced the appointment of Jeremy Mander. Mander joins the broker from Greig Fester, having earlier worked for Greig Fester, and brings with him extensive expertise in and experience of accident and health (A&H), life treaty and retrocession reinsurance. During his career he has established and kept substantial accounts from [...]
LV= has announced its annual with-profits performance and payouts figures. The firm’s with-profits fund made an annual investment return of 15.4% in 2009. LV= has seen its mortgage endowments doing well, with a £13,000 surplus achieved for a 20 year policy covering a £50,000 mortgage. In addition, the firm’s mortgage endowment guarantees that policies paid [...]
Admiral has released its financial performance figures for 2009, including pre-tax profits of £216m, marginally ahead of the £212m consensus forecast. This marks a rise in profits from 2008 when annual results saw the firm make pre-tax profits of £202.5m. In the first half of the year the firm recorded profits of £105.3m, indicating a [...]
Britons with a taste for flash cars are paying dearly for their pleasures, according to swiftcover.com. The online insurer reckons premiums are around twice that for standard models from the same manufacturer. For example, a 30-year-old male with five years’ no claims discount can expect to pay £1,000 to insure a VW Golf GTi, whereas [...]
New research commissioned by independent equity release adviser Key Retirement Solutions has revealed that British pensioners have property wealth totalling circa £765.18bn. The news comes as the housing market continues its hesitant recovery, and marks the launch of Key Retirement Solutions’ Pensioner Property Equity Index which intends to measure the property wealth of the over [...]
ARAG UK, the legal insurance firm based in Bristol, has continued its recent recruitment drive with a brace of appointments. Carrie-Anne Woods joins the firm as senior claims handler, and previously worked for DAS in a wide range of areas including Landlord and Tenant, Jury Service and Tax Claims, Commercial Contract and others. Paul Mather [...]
Global risk and reinsurance specialist Guy Carpenter & Company, LLC has announced a pair of senior appointments to its office in Buenos Aires. Roberto Glogau has been named as the firm’s new country head for Argentina, and is now tasked with fostering business, handling present activities and enhancing relationships with the firm’s Argentine clients. Glogau [...]
Sterling Insurance has recruited Jane Flaherty as senior high net worth (HNW) underwriter in the Midlands. Ms Flaherty will be responsible for underwriting Sterling’s Executive Home and Executive Plus HNW products for brokers in the region, while at the same time supporting business growth. Previously she spent eight years underwriting and growing Hiscox’s HNW account [...]
Specialist independent insurance and reinsurance broker Miller has announced that it has hired Matt Grimwade. He brings almost two decades of experience in reinsurance, broking and risk consulting to the firm, and previously served as MD of Aon Global UK. Prior to this he established and led Aon’s first UK cedent facultative reinsurance unit. Grimwade [...]
Prudential has confirmed that it has agreed terms with American International Group to acquire AIA, the Asian business of the embattled US insurance giant. Pru will pay £23 billion in cash and shares for the business, in a bid to become South East Asia’s leading insurer. It is also planning a rights issue to help [...]
