Zurich tops satisfaction index for car and home insurance
by Gill Montia
Story link: Zurich tops satisfaction index for car and home insurance
Zurich has taken the lead in a new customer satisfaction survey introduced by CFI Group.
The US-based company has launched its first UK National Customer Satisfaction Index (NCSI-UK) for home and car insurance providers.
Zurich achieved a score of 79 on a 100 point scale, slightly above the average satisfaction level of 77.
Other notable performers were RBS’s […]
G-Wiz Insurance unveiled by GoinGreen
by Richard Kilner
Story link: G-Wiz Insurance unveiled by GoinGreen
GoinGreen has launched the first insurance scheme dedicated towards the G-Wiz driving community of London.
GoinGreen, which sells the Reva G-Wiz electric vehicle, has collaborated with broker Heath Lambert to design the GoinGreen Insurance Services policy.
The policy has been tailored specifically to the G-Wiz electric vehicles, and is underwritten by Chaucer Insurance.
Because it has been designed […]
Skandia quits ABI over “assisted purchase” selling
by Gill Montia
Story link: Skandia quits ABI over “assisted purchase” selling
Pensions and investment company, Skandia, is leaving the Association of British Insurers (ABI).
The separation comes after a disagreement over the way in which financial products are sold.
The ABI is promoting “assisted purchase” as part of its response to the Retail Distribution Review.
This method of selling does not provide formal financial advice but allows consumers to […]
Marlborough offers advice to brokers to beat the recession
by Richard Kilner
Story link: Marlborough offers advice to brokers to beat the recession
Business management skill trainer Marlborough Training & Consultancy is holding a series of training days aimed at providing brokers with advice regarding achieving growth during the present economic difficulties.
The events, sponsored by Ignition NBS, will be held at eight locations across the country where Marlborough will set out how brokers can maintain steady growth even […]
Zurich launches takaful venture
by David Masters
Story link: Zurich launches takaful venture
Switzerland-based Zurich Financial Services Group has established a joint Islamic insurance venture with Abu Dhabi National Takaful Company (ADNTC).
The joint venture, called Zurich Takaful Company Limited, will be based in Dubai at Dubai International Finance Centre (DIFC) and will deal with family takaful businesses across the Middle East.
It is 51% owned by Zurich and 49% […]
Standard Club advises on evading Somali pirates
by Gill Montia
Story link: Standard Club advises on evading Somali pirates
Marine insurer, The Standard Club, has issued a special guidance report on how ship owners can protect their vessels from pirates active in the seas around Somalia.
According to the bulletin, Somali-based pirates have been responsible for more than 60 attacks on ships since the beginning of the year, resulting in 29 hijackings and over […]
Venture Preference acquires Newspace Insurance
by Gill Montia
Story link: Venture Preference acquires Newspace Insurance
Venture Preference has acquired Northampton-based Newspace Insurance Services.
Newspace specialises in the small and medium sized enterprise sector (SME), for which it has developed two bespoke schemes.
The business employs 11 staff and has around 3,000 clients.
Venture has ambitious expansion plans and its chief executive, Stuart Reid, describes Newspace as an ideal fit in terms of the […]
Save £570 a year by consolidating PPI
by Gill Montia
Story link: Save £570 a year by consolidating PPI
Britons are being urged to review their Payment Protection insurance (PPI) and consolidate cover under one policy.
According to research by the Post Office, almost six million consumers could be paying over the odds for PPI because around 20% of adults with credit have more than one policy in place.
The Post Office estimates that by combining […]
LV= appoint group claims director
by Richard Kilner
Story link: LV= appoint group claims director
LV= has named Peter Gallagher as the group claims director for the firm’s general insurance business.
He joins the organisation from Highway Insurance, which LV= has recently acquired.
He spent five years with Highway Insurance, and leaves behind his position as claims director to take up his new role.
Earlier in his career Gallagher worked for Munich […]
Bupa appoints new associate medical director
by Richard Kilner
Story link: Bupa appoints new associate medical director
Bupa, the international health and care company, has announced the appointment of Dr Karen Woo as the firm’s new associate medical director.
In her new post Dr Woo will be responsible for parts of Bupa’s global medical strategy and supporting clinical governance.
Her initial task will be the direction of the firm’s e-health and telemedicine initiatives with […]
Odyssey Re Q3 profits up
by David Masters
Story link: Odyssey Re Q3 profits up
Reinsurance underwriter Odyssey Re Holdings has posted a net income of $121.5 million, or $1.96 per diluted share, for the three months ending 30th September 2008.
This is 8% higher than in the same third quarter period of 2007.
Last year Odyssey reported third quarter net income of $112.1 million, or $1.57 per diluted share.
The reported results […]
Aspen results hit by catastrophe losses
by David Masters
Story link: Aspen results hit by catastrophe losses
Bermuda-based Aspen Insurance Holdings has posted its third quarter results, with a net loss after tax of $116.7 million, equivalent to an operating loss of $1.02 per share.
This is compared to a net profit after tax of $117.2 million in the third quarter of 2007.
The loss is being blamed on catastrophe payouts from hurricanes Gustav […]
Aon third quarter profits down 43%
by David Masters
Story link: Aon third quarter profits down 43%
Chicago-based insurance broker Aon Corp reported its third quarter results on Friday, with net income down 43% on year to $117 million, or $0.40 per diluted share.
Despite the fall in income, the results beat Wall Street’s expectations, and the share price of the world’s largest insurance brokerage jumped 11% to $42.30 following the announcement.
Net income […]
THB enters a new era with new leadership
by Richard Kilner
Story link: THB enters a new era with new leadership
THB Group, the specialist broker, has declared its intentions for ambitious growth in the future and announced its board level succession plan.
From 1 May next year retiring chief executive Vic Thompson will be succeeded by Frank Murphy, CEO of Lloyd’s broking operation Thompson Heath & Bond Limited.
Murphy has been a director of THB for […]
AXA launch AXA Car motor insurance product
by Richard Kilner
Story link: AXA launch AXA Car motor insurance product
AXA Insurance has broadened its product range for motor insurance with the addition of a newly launched personal lines intermediary (PLI) motor product: AXA Car.
AXA Car has been designed to cater to the needs of the low risk driver and provides coverage for Comprehensive and Third Party Fire and Theft.
Utilising a new, advanced ratings system, […]
Biba proposes flood prevention measures
by Gill Montia
Story link: Biba proposes flood prevention measures
The British Insurance Brokers’ Association (Biba) is making fresh calls for strong co-operation between the insurance industry and Government, to protect households and businesses from flooding.
The Department for Environment, Food and Rural Affairs (DEFRA) is setting up a £5 million fund that will be used to safeguard vulnerable homes and Biba is suggesting a number […]
Friends Provident abandons sale of Lombard
by Gill Montia
Story link: Friends Provident abandons sale of Lombard
Friends Provident has announced that it is abandoning the sale of Lombard, its wealth management business.
The Lombard unit has been up for sale for nine months but according to the group’s chief executive, Trevor Matthews, Friends has now decided to retain and develop the business.
The life and pensions provider began a programme of disposals after […]
BeatThatQuote panel expands again
by David Masters
Story link: BeatThatQuote panel expands again
BeatThatQuote.com has added two of Equity’s insurance products to its price comparison panel.
Equity’s home and breakdown products will be integrated into the list of prices compared at the site.
BeatThatQuote is also teaming up with insure.co.uk and insurepink to offer motor insurance.
Including insurepink in its panel enables BeatThatQuote to support the Pink Ribbon Foundation, because insurepink […]
Towergate appoints new CEO
by David Masters
Story link: Towergate appoints new CEO
Towergate Financial has appointed Ian Darby as its new chief executive.
Darby spent 16 years of his career at John Charcol, working his way up to the position of chairman between 1984 and 2000.
His roles at the company included group distribution director, in which he supervised and oversaw more than 800 Independent Financial Advisors (IFAs).
He then […]
Hartford stock price nosedives
by David Masters
Story link: Hartford stock price nosedives
The value of Hartford Financial Services Group was slashed in half yesterday after the company posted its results for the third quarter.
After hearing of the $2.6 billion quarterly loss investors began to fear that the company would need to raise capital and may have trouble doing so.
Hartford’s stock plummeted to a twelve month low of […]
