Aviva restructure costs 950 Irish jobs
by Gill Montia
Story link: Aviva restructure costs 950 Irish jobs
Aviva is proposing to combine Aviva Ireland with Aviva UK while at the same time restructuring its European regional operations, to create a leaner cost base. Over the two years from March 2012, around 950 job losses are expected, comprising 770 roles from Aviva Ireland and 180 from Aviva Europe operations based in Ireland. According [...]
Aviva appoints head of HR strategy
by Gill Montia
Story link: Aviva appoints head of HR strategy
Aviva has appointed Carole Jones as its London-based director of global HR strategy and organisational development. The newly-created role puts Ms Jones in charge of developing strategies for employees that will be applied across the whole of Aviva’s global business. In particular, she will focus on ensuring that the company’s HR policies and systems are [...]
AEGON agrees sale of life reinsurance business
by Gill Montia
Story link: AEGON agrees sale of life reinsurance business
AEGON is selling Transamerica Reinsurance, its life reinsurance business, to global reinsurer, SCOR. In addition, SCOR will acquire Transamerica International Reinsurance Ireland although under the agreement AEGON will retain businesses with a book value of $0.4 billion, comprising mainly variable annuity guarantee business. The deal will result in a total after-tax consideration of $1.4 billion, [...]
RSA expands in Ireland with 123 Money acquisition
by Gill Montia
Story link: RSA expands in Ireland with 123 Money acquisition
RSA is acquiring 123 Money Limited, a fastest-growing direct distributor of personal lines insurance products in Ireland. Founded in 2002 and trading as 123.ie, the Dublin-based firm offers motor, home and pet insurance. It employs almost 200 staff, has around 170,000 policyholders and generated premium income of about €60 million in the year to the [...]
Elite targets new markets with enhanced offering
by Gill Montia
Story link: Elite targets new markets with enhanced offering
Elite Insurance has launched a number of products that will support its expansion into new markets. The legal expenses and financial insurance provider is offering a decennial insurance policy in the French market; as the name suggests, the construction liability cover runs for ten years. In addition, the firm is offering accident and sickness & [...]
Quinn Insurance Limited placed in administration
by Gill Montia
Story link: Quinn Insurance Limited placed in administration
The Financial Regulator in Ireland has announced that Quinn Insurance Limited has been placed into provisional administration. Following an application to the High Court in Dublin, joint provisional administrators have been appointed to the firm, which has offices in Cavan and Enniskillen. Quinn’s UK operations, Quinn Insurance Limited (UK) or Quinn Direct, specialises in motor [...]
Thornside and Argos embark upon Irish venture
by Richard Kilner
Story link: Thornside and Argos embark upon Irish venture
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 [...]
Aviva reports 21% rise in life and pensions sales
by Gill Montia
Story link: Aviva reports 21% rise in life and pensions sales
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 [...]
Quinn targets SMEs with TV ads
by David Masters
Story link: Quinn targets SMEs with TV ads
Ireland-based insurer Quinn Group has launched a new TV advertising campaign promoting its commercial insurance to Irish SMEs. Research by Quinn found many small businesses in Ireland are unaware of the firm’s commercial insurance arm. “We have over one million customers in Ireland and the majority of them do not have an appreciation of the [...]
Setanta Insurance sells a policy every 15 minutes
by Richard Kilner
Story link: Setanta Insurance sells a policy every 15 minutes
Setanta Insurance is the fastest growing vehicle insurer in Ireland, selling an average of one insurance policy every 15 minutes since it was established two years ago. Setanta’s written premiums exceed €35m, and it presently has more than 65,000 policyholders. In July Setanta forecast it would hit 100,000 policyholders by the end of the year. [...]
Willis plans move to Ireland
by Richard Kilner
Story link: Willis plans move to Ireland
Global insurance broker Willis Group Holdings Limited has announced its Board of Directors has approved the proposed change to move its place of incorporation from Bermuda to Ireland. The move still requires shareholder approval for the redomestication to occur, and they will be asked to back the move in three or four months time. It [...]
Hibernian Aviva sets out Ireland’s weight problem
by Gill Montia
Story link: Hibernian Aviva sets out Ireland’s weight problem
Hibernian Aviva Health has been weighing in residents of Ireland to find that 48% are either overweight or dangerously overweight. The health insurer’s findings are unsurprising, given that almost a quarter of those involved in the research admitted to taking no physical exercise. The firm advises that in addition to weight management, exercise reduces the [...]
Lloyd’s opens Dublin office
by David Masters
Story link: Lloyd’s opens Dublin office
Lloyd’s of London this week opened a Dublin office and expressed its “optimism” for the future of the Irish economy. “The opening of our first permanent office in Dublin marks the beginning of a new and exciting chapter for Lloyd’s in Ireland,” said Lloyd’s chairman Lord Peter Levene. “Despite the undoubted pressures on the Irish [...]
Setanta Insurance on course for 100,000 customers
by Richard Kilner
Story link: Setanta Insurance on course for 100,000 customers
Setanta Insurance is on course to achieve 100,000 policyholders by the end of the year, cementing its position as one of the most rapidly growing insurance firms in Ireland. Setanta Insurance is based in Malta and Dublin and in May its policyholders numbered 45,000 with over €25m written premiums. The firm is less than two [...]
Quinn blacklists deprived Dublin communities
by David Masters
Story link: Quinn blacklists deprived Dublin communities
Ireland’s second largest motor insurer has defended its decision to blacklist parts of Dublin because of the high number of claims received from these areas. Quinn Direct this month started refusing to issue new premiums for cover in parts of Tallaght and Clondalkin, as well as deprived urban areas in Cork, Waterford, and Galway. A [...]
Home insurance premiums up 25% in Ireland
by David Masters
Story link: Home insurance premiums up 25% in Ireland
Home insurance premiums in Ireland have sky-rocketed this year despite record unemployment and drastic price cuts across other sectors of the Irish economy. Consumer watchdogs in the country have accused insurers of “crucifying” customers with “totally outrageous” premium rises of 25%. In the overall economy, prices in Ireland have dropped by nearly 5% in the [...]
Aspray has good beginning to 2009
by Richard Kilner
Story link: Aspray has good beginning to 2009
Aspray Ltd has enjoyed a good start to the year despite the more competitive insurance management sector. The family-run business has seen interest increase and has opened half a dozen new branches in the UK and two in Ireland, bringing its total in both countries to 52 branches. Aspray was founded in 2005, and has [...]
Carole Nash launches Irish website
by Gill Montia
Story link: Carole Nash launches Irish website
Carole Nash, the UK and Ireland motorcycle broker, has launched a new quote and buy website targeting the Irish market. The site, which uses Open GI’s eBroker technology, enables consumers to access a range of bike quotes direct and purchase cover online via the Realex payment processing system. Commenting on the development, the broker’s commercial [...]
jml provides landlord and household category for Ireland
by Gill Montia
Story link: jml provides landlord and household category for Ireland
jml Insurance Services has extended its offering to residents of the Irish Republic with the introduction a new household and landlord insurance category. The move follows the launch of a Northern Ireland specialist area on the jml Insurance website last year. An additional area of the site now offers introductions to companies such as Kay [...]
Marsh appoints Middle Market leader in UK & Ireland
by Richard Kilner
Story link: Marsh appoints Middle Market leader in UK & Ireland
Global insurance broker and risk adviser Marsh has named Joe Grogan as the new leader of its Middle Market business in the UK and Ireland. Grogan has been chief executive officer of Marsh’s operations in the Republic of Ireland since 2001, and will retain this position in addition to his new post. He will divide [...]
