Insurer
RSA to reduce broker panel to achieve commercial profitability
RSA's 2011 report and accounts has confirmed that the insurer will take a more “targeted approach” to its broker distribution in the UK.
Brit suffers ratings downgrade after QBE sale
AM Best has downgraded the financial strength rating and issuer credit rating of Brit Insurance Limited (BIL) to A- from A and placed the ratings under review with negative implications.
Chartis Europe sees reduced profit and GWP but improved COR
Chartis Europe has reported a fall in profit for the year ended November 2011 to £11m, compared with £101m in 2010.
Iprism returns to profit with doubled turnover
Iprism Underwriting Agency has reported a jump back to profit, with earnings of £2.1m for the year ended December 2011, compared with a loss of £0.8m in 2010.
Home Secretary gives backing to Biba and ABI signposting initiative
The British Insurance Brokers’ Association (Biba) and the Association of British Insurers (ABI) have revealed a government backed signposting agreement which they claim will make it easier for older customers to find motor and travel insurance.
QBE reveals expansion plans to brokers
Ash Bathia, chief underwriting officer at QBE for property, casualty and motor, has told brokers to expect more engagement and products from the provider after its acquisition of Brit’s UK regional business.
NIG aims to expand in Scottish market
NIG plans to invest in its Scottish operation and grow its Glasgow-based team following feedback from brokers in the Scottish commercial and SME market.
Brokers welcome QBE takeover of Brit's UK regional business
Brokers have given a uniformly positive reaction to the takeover by QBE of Brit’s UK regional business describing it as good news for both brokers and insurers.
QBE buys Brit’s UK regional business
QBE has announced the purchase of Brit’s renewal rights for the UK regional operations business with the transaction expected to be completed on 13 April.
Marsh and Guy Carpenter team up to tackle flood insurance drought
Marsh and Guy Carpenter have joined forces with digital mapping and land data intelligence provider Landmark Information Group to create a new flood risk reinsurance pool.
Kiln races into horse market
Kiln has appointed Georgina Smart as an equine underwriter to focus on specialist risks for sports and leisure horses.
Arista boosts North East presence
Arista Insurance has appointed Adam Hirst as a commercial underwriter and promoted Pamela O'Loughlin to the role of senior fleet underwriter at its Leeds office.
Giles up against Acromas in bid for Groupama's UK broking arm
Giles and Acromas have both filed bids to buy part of the UK arm of Groupama, according to the Independent.
JLT adds Towergate man to Nottingham team
JLT has appointed Steve Exwood as partner in its Nottingham risk practice team.
Aspen adds underwriting expertise to Manchester office
Aspen Risk Management has appointed Steve Cheshire as head of underwriting for its North of England business.
Quindell in Ai Claims takeover
Quindell Portfolio has bought a further 47.7% of Ai Claims Solutions for £3.1m and announced its intention for a complete takeover offer of the company.
Hastings reports improved profit
Hastings Insurance Group has reported a 63% jump in profit, from £19m in 2010 to £31m in 2011.
Editor’s letter - April 2012
“It’s fair to say that old Hector didn’t have the easiest of rides”
Products: Oxford Insurance Brokers offers IFAs two-year PI deal
Oxford Insurance Brokers Limited (OIB) is offering IFAs a new two year professional indemnity deal as it looks to take advantage of opportunities arising from the Retail Distribution Review and a reduction in capacity in the market.
Products: Ink offers new excess protector product
Ink Insurance has teamed up with Adding1 to develop a new excess protector insurance product.
Review: Lay of the land
CX Land Liability: This product has been reviewed by brokers and rated from one to five stars, based on the policy’s key benefits. * = Poor ** = Average *** = Good **** = Very good ***** = Excellent
Products: Rural pursues growth and signs new deals
Rural Insurance has signed three new deals as it continues on its growth drive for 2012.
Products: Groupama adds 200 trades to its online commercial trade product
Groupama has launched a miscellaneous trades facility for its online commercial trade product, Optima Business Plus.
Products: Builders to benefit from latent defects product
The National Register of Warranted Builders, a subsidiary of the Federation of Master Builders (FMB), has launched a new latent defects product through the Build Assure brand.