Articles by Martin Friel
JLT reports £20m leap in profits
JLT has reported a healthy 2010 with profits after tax coming in at £90.7m, an increase of nearly £20m on last year.
Arc claims first in legal expenses claims technology
Arc Legal Assistance has launched what it claims is the first UK iPhone claims App for legal expenses policies.
Allianz sees profits slide but maintains healthy underwriting result
Allianz has reported a £45m drop in operating profit to £158.5m (£203.7m: 2009) and a 3% deterioration in combined ratio despite a near £76m uplift in gross written premiums (GWP) for 2010.
Bluefin chief calls for Aldermanbury Declaration to be precondition of agency
Bluefin chief executive, Stuart Reid, has called for commitment to the Aldermanbury Declaration to be a precondition of securing an insurer agency.
LV experiences rapid growth and profit hike but takes £30m hit in December
LV experienced accelerated growth in 2010, increasing premiums by 45% to £1.18bn, but recorded an underwriting loss of £43m.
Video interview: Peter Cullum on Towergate's refinancing
Days after Towergate Partnership announced the completion of its refinancing and £200m investment from private equity firm Advent International, founder and chairman Peter Cullum CBE spoke to Post about what now lies ahead for the broker.
Heath Lambert reportedly in takeover talks
Arthur J Gallagher International is in takeover talks with London market broker Heath Lambert, say sources close to the company.
NIG's rates guarantee is suicidal according to Groupama CEO
Groupama Insurances CEO, François-Xavier Boisseau, has fired a broadside at NIG and its controversial ‘guarantee to beat’ rate offer to brokers, describing the move as suicidal.
New property aggregator promises to help brokers retain clients
Former KGM group development manager, Doug Phelan, has returned to the market with a new ‘broker friendly’ aggregator proposition.
New broker regulator gets backing from FSCS
The Financial Services Compensation Scheme (FSCS) has put its weight behind the decision to make the body accountable to both the new Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA).
Groupama reports return to form with profit leap
Groupama Insurances has reported a dramatic leap in profitability although the insurer’s broking arm experienced a slight dip in revenues.
Axa and Bluefin both report drop in revenue
Axa’s full year earnings for 2010 have plunged by £100m to £131m (2009: £235m) with Bluefin Insurance services also reporting a 3% drop in revenue to £112m.
Arista strengthens South West presence with former Chartis appointment
Arista has appointed Genna Ryan as senior fleet underwriter in the South West.
NIG defends “Guarantee to Beat” pricing strategy
NIG is promising brokers it will beat premiums by up to 5% on business held or quoted with 15 major insurance companies in the UK market.
Federation of Small Businesses welcomes bank lending announcement
The Federation of Small Businesses (FSB) has welcomed the news that the banking sector has agreed to increase lending to small businesses.
Banks commit to 15% increase in lending to SMEs
The Government has welcomed a commitment by the UK's biggest banks on lending expectations and capacity which will focus on small to medium-sized enterprises (SME).
Phil Bird leaves Groupama
Groupama Insurance’s claims director, Phil Bird, is to leave the company following an internal restructure.
Powerplace hit by Reed departure
Towergate-owned trading platform Powerplace has confirmed the departure of chief executive Matthew Reed.
New LEI product tailored for smaller landlords
Arc Legal Assistance has teamed up with Swinton Commercial to launch a commercial rental guarantee product for semi-professional landlords.
National broker welcomes Bribery Act delay
JLT’s D&O liability team has welcomed the delay to implementation of the Bribery Act claiming there is too much uncertainty around the Act.
Accident Exchange slashes debt by £50m
Accident Exchange, the accident management company, has reduced its debt by £50m in a debt for equity deal.
Ant Gould set to take up new role at the CII
Insurance Age group editor in chief Ant Gould is set to take up the role of director of faculties at the Chartered Insurance Institute from 21 March.
FSA fines and bans broker for part in fraud scheme
The Financial Services Authority (FSA) has fined an intermediary £25,000 and banned him from working in regulated financial services for his part in a scheme that defrauded insurers of more than £2m.
Broker leaves RBSI in management buyout
RBS Insurance (RBSI) has agreed to sell Devitt Insurance Services to its existing senior management team, lead by managing director William Hughes.