Insurance news

• Morgan Stanley boosts Quindell stake to over 5%

  16-02-2015 16:46
  Investment bank now owns  21.9 million shares in insurance outsourcer
  
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• Towergate's creditors reach binding agreement

  16-02-2015 16:32 via insuranceage.co.uk
  
  Joint agreement endorsed by over 75% of secured and unsecured creditors.
  
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• Towergate deal gets approval from 75% of creditors

  16-02-2015 16:19
  Broker’s takeover clears another hurdle
  
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• Insurance sector not responding to SMS demand

  16-02-2015 15:24
  
  James Verrinder Postonline
  
  
  Insurers are failing to respond to significant demand for text-based communications, according to a new industry report into how customers want to be contacted.
  
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• Steadfast buys underwriting agencies and broker from QBE

  16-02-2015 12:59
  
  Andrew Tjaardstra Postonline
  
  
  Australian insurance group Steadfast has bought two underwriting agencies and a broker from Australian giant QBE for A$290m (£147m).
  
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• Insurers urged to seize 'opportunity' as driverless cars hit UK roads

  16-02-2015 12:28
  
  James Verrinder Postonline
  
  
  The emergence of driverless car technology should be viewed as an “opportunity not a threat” by motor insurers, despite prospective further reductions in premiums.
  
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• Ratings boost for Towergate

  16-02-2015 12:25 via insuranceage.co.uk
  
  Moody’s considers upgrade for recently sold broker.
  
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• Ageas appoints Gareth Robb as broker account executive

  16-02-2015 12:00 via insuranceage.co.uk
  
  Insurer says appointment underlines its commitment to develop personal lines with broker partners.
  
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• Towergate joins Paymentshield's landlord's insurance panel

  16-02-2015 11:34 via insuranceage.co.uk
  
  Paymentshield says clients can now offer customers greater choice.
  
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• Clear acquires JH Hibbert

  16-02-2015 11:20 via insuranceage.co.uk
  
  Deal moves Clear Insurance Management to £60m premium.
  
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• QBE launches first product on PowerPlace

  16-02-2015 11:19 via insuranceage.co.uk
  
  Insurer to launch second product on the platform later this year.
  
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• Clear Insurance acquires north London broker

  16-02-2015 11:05
  J H Hibbert will continue to be led by managing director Geoff Beaver
  
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• RSA appoints regions director UK specialty lines

  16-02-2015 10:59 via insuranceage.co.uk
  
  John Walsh promoted and will be responsible for regional operations and key broker relationships.
  
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• RSA makes internal promotion for key broker relationships role

  16-02-2015 10:34
  John Walsh has been promoted to regions director UK specialty lines in a newly created role
  
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• Helios Underwriting buys Lloyd's vehicle Updown in £600,000 cash deal

  16-02-2015 09:43
  Deal will increase Helios’s underwriting capacity to £22.3m in 2015
  
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• Helios Underwriting buys Lloyd's vehicle Updown for £600,000

  16-02-2015 09:43
  Deal will increase Helios’s underwriting capacity to £22.3m in 2015
  
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• Government's failure to kick start motor reforms risking young drivers' lives

  16-02-2015 09:27
  The ABI has called for reforms to drive down the cost of motor insurance for young drivers to be kick started again
  
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• Government's failure to introduce motor reforms risking young drivers' lives

  16-02-2015 09:27
  The ABI has called for reforms to drive down the cost of motor insurance for young drivers to be kick started again
  
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• CPP's AIM move raises £20m

  16-02-2015 09:24
  
  Katie Marriner Postonline
  
  
  CPP Group has shifted to trading on the London Stock Exchange AIM Market with the placing raising £20m for the company.
  
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• Dutch group sells insurance arm to Chinese insurer

  16-02-2015 09:16
  
  Andrew Tjaardstra Postonline
  
  
  SNS Reaal, a troubled Dutch government owned bank and insurer, has agreed to sell its insurance arm to Anbang Insurance.
  
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• Gauntlet Group hails use of appointed representatives as growth driver

  16-02-2015 09:00
  Business generated through appointed representatives now makes up a third of broker’s £1.8m annual income
  
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• The Knowledge Live: SME marketplace set to boom over the coming year

  16-02-2015 08:52
  93% of brokers expect their SME books to grow over the next 12 months
  
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• Check your insurer doesn’t mind modifications to your car

  16-02-2015 07:58
  
  Any changes you make to your vehicle, from a roof rack to a sticker on the door, should be approved by your insuracne companyFitting a roof rack to your car or putting some stickers on its doors can seem a fairly innocuous activity, but these “modifications” can ring alarm bells with insurers.“ ‘Modifications’ is a word greeted with caution by some insurers,” says Ian Crowder of the AA. From their perspective, any changes you make to your vehicle could be seen to increase its value
  
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• Snowball eyes next role after Suncorp

  16-02-2015 03:41
  Andrew Tjaardstra Postonline
  
  
  Patrick Snowball is ready for a new challenge after he leaves Suncorp later this year.
  
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• ABI slams government’s lack of young driver reforms

  16-02-2015 01:46
  
  Francesca Nyman Postonline
  
  
  The Association of British Insurers has criticised the government’s lack of action on young driver reforms for “putting young lives at risk and increasing the cost of motor insurance for young drivers unnecessarily”.
  
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