LV= has released its financial results for 2009, including an underlying profit which rose from £2.3m to £44.2m. The results build on the firm’s interim figures, which saw gross written premiums rise by 92% and a strong underwriting performance. The firm’s with-profits fund exceeded the benchmark by 2% to record a return of 15.4%, and [...]
Broker Network has launched Countrywide Complete, a new scheme that gives the network’s Countrywide members access to the same level of support enjoyed by its full members. The offering includes new insurance products plus a range of business services that cover compliance, HR, marketing, finance and IT. The group’s managing director, Nick Houghton, says: “In [...]
Friends Provident paid £34.5 million in critical illness claims during 2009, the company has revealed. Of the 624 claims received, only 46 were declined and the percentage of claims declined due to non-disclosure fell by nearly half, from 4% to 2.1%. The statistics also show a rise in the number of children’s critical illness claims [...]
The Aquila Underwriting LLP group of businesses has been increased with the addition of Principia Underwriting, which launches today. Principia will specialise in liability, business interruption and crisis management policies for risks of an emerging and traditional nature faced by businesses handling media content, intellectual property and IT security. Chris Newton and Shaun Cooper are [...]
Arista Insurance, the commercial lines underwriting specialist, has announced the appointment of Gavin Benson as senior underwriter in the Midlands. Benson, who brings with him more than three decades of underwriting experience, is to be based at Arista’s Birmingham office. He previously worked for NIG as a key account manager, responsible for the firm’s national [...]
Kwik Fit Financial Services has announced it has enjoyed record-breaking sales, with all three companies within the group (Kwik Fit Insurance, The Green Insurance Company and Express Insurance) achieving best ever March sales figures. Kwik Fit Insurance achieved best ever sales figures within a single day during March, selling off more than 2,000 car and [...]
Sterling Insurance has appointed Kevin Donoghue to the newly created post of head of commercial underwriting. Mr Donoghue has worked in the insurance industry for over 30 years and in his new job will be responsible for developing and managing the firm’s commercial underwriting strategy. Joining Sterling from AXA, he will report directly to the [...]
The Flood and Water Management Bill 2009-10 has received the Royal Assent. The Bill addresses the threat of flooding and of water scarcity, both of which are expected to increase with climate change. The new legislation requires the Environment Agency to create a National Flood and Coastal Erosion Risk Management Strategy, which a number of [...]
Lansdown Insurance Brokers, the commercial property owners specialist, has conducted a software house review and chosen to pick Open GI as the firm’s new core IT solutions partner. Lansdown Insurance Brokers, which is based in Cheltenham, celebrates its 50th anniversary in 2010, and has selected Open GI in a bid to enhance its flexibility with [...]
THB’s specialist Lloyd’s broking arm, Thompson Heath & Bond, has announced that THB London Market team is to bolstered with a number of new appointments. After the firm’s results were published in January Group Chief Executive Frank Murphy declared the business was interested in taking on new individuals and teams. Following this, Craig Readhead and [...]
With National Pet Month from 3 April to 3 May the Fair Investment Company is urging pet owners to take out insurance for their cats and dogs. Personal Finance Editor Rachael Stiles has said that taking out pet insurance is one of the top 10 tips for responsible pet ownership, according to National Pet Month. [...]
Aviva has announced that it is re-entering Singapore’s general insurance market. According to the insurer, the move will serve as a launch pad for regional expansion. The group’s ambitions begin with becoming Singapore’s first direct online car insurer, with a home and travel offering to follow, after which the business will be rolled-out in key [...]
Lanes Assistance Services (LAS) has been acquired in a management buyout led by managing director, Darren Cooper, and commercial director, Tim Walker. The purchase is being made from parent company, Lanes Group plc, and is backed by a £12.3 million investment by private equity firm, Gresham. LAS provides an outsourced claims management service for the [...]
In September last year insurance4carrental.com offered van hire excess insurance (on behalf of Towergate Underwriting Group), since when the number of sales made has been rising daily. In March, the firm launched insurance4vanrental.com, a reflection of the success of the specialist van hire excess insurance. Philip Suter of jml Property Services, (which runs the website), [...]
AA Insurance has reported that every single day at least 53 householders in England and Wales discover that their car has been stolen, following the theft of their cars from their home. In 2008/2009 19,400 cars were stolen by this method, according to a parliamentary answer by Home Secretary Alan Johnson, a rise of almost [...]
Online motor insurer swiftcover.com has begun construction of a new new multi-million pound centre of operations Stockton, Teesside. The move will see the creation of around 350 new jobs in the area over the next three years, with work beginning on the of the 25,000 sq ft structure starting immediately, with January 2011 the estimated [...]
HSB Engineering Insurance Limited, the leading engineering specialist insurer, has announced the promotion of Steve Worrall to the post of finance director. For the last three years he has served the firm as assistant finance director, and brings over a decade of experience to his new position. Earlier in his career he worked for PricewaterhouseCoopers [...]
Caribbean insurer, CGM Gallagher Group, has merged its commercial insurance broking portfolio with that of Jamaica-based Zenith Insurance Brokers. In recognition of the partnership, Zentih managing director, James Pawson, is being appointed to the board of CGM Gallagher Insurance Brokers Jamaica Limited. The move will also see Zenith’s Montego Bay office branded under the CGM [...]
HCC Global Financial Products (HCC) has launch a new line of business focusing on merger and acquisition transaction risk insurance, namely Warranty & Indemnity, Tax Indemnity, and Contingent Risk Transfer Insurance. The financial lines specialist says it has noted a “significant upturn” in mergers and acquisitions activity in the first quarter of 2010. According to [...]
Insurance Services Office (ISO) has launched a new hosted personal injury claims service. According to the insurance solutions specialist, COA Bureau Service combines its Claims Outcome Advisor (COA) and Management Information (MI) reporting technology to provide a fully-hosted solution to insurers, loss adjusters and claims handling organisations. The new service enables companies to outsource the [...]
