Insurance news

• Bellamy calls for DAS arrangement to be referred to the regulator

  05-03-2015 17:26
  
  Stephanie Denton Postonline
  
  
  Former Das employee, Philip Bellamy, has denied any wrongdoing and insisted his own conduct was “impeccable” following news of his departure.
  
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• Bellamy calls for Das regulator referral

  05-03-2015 17:15 via insuranceage.co.uk
  
  Former Das group after the event and special risks manager, Philip Bellamy, comes out to insist his own conduct was “impeccable” following news of his departure.
  
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• Matthew Wilson new CEO of Travelers Europe

  05-03-2015 16:53 via insuranceage.co.uk
  
  Wilson promoted from COO position and succeeds Sean Genden.
  
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• Towergate Financial Group is sold for £8.64m

  05-03-2015 16:23 via insuranceage.co.uk
  
  Towergate Group sells the business to Palatine Private Equity as it concentrates on core businesses.
  
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• Bupa UK sees 2014 revenue grow 5% to £2.7bn

  05-03-2015 16:20
  
  Katie Marriner Postonline
  
  
  Bupa UK has achieved a 5% revenue increase for the year ended 31 December 2014 to £2.7bn.
  
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• Towergate Financial Group sold for £8.64m

  05-03-2015 16:05 via insuranceage.co.uk
  Towergate Group sells the business to Palatine Private Equity as it concentrates on core businesses.
  
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• Direct Insurance London Market launches scheme with Hiscox

  05-03-2015 15:57 via insuranceage.co.uk
  
  Specialist Lloyd's broker says scheme offers cover for recycling and waste management businesses.
  
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• Travelers Europe promotes COO Wilson to CEO

  05-03-2015 15:55
  
  Katie Marriner Postonline
  
  
  Travelers Europe chief operating officer Matthew Wilson has been appointed CEO for the business.
  
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• Towergate sells IFA arm to 'de-risk' group from pension transfer storm

  05-03-2015 15:48
  After sale Towergate will retain responsibility and liability for all financial services products sold prior to sale completion
  
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• Towergate confirms Towergate Financial sale

  05-03-2015 15:42
  
  James Verrinder Postonline
  
  
  Towergate Insurance has confirmed the sale of Towergate Financial to Palatine Private Equity, subject to Senior Secured Creditor consent and regulatory approval.
  
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• Reserve strengthening remains uncertain - Aviva

  05-03-2015 14:41
  Maurice Tulloch hails improved underwriting but adds that more work needs to be done
  
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• Friends Life grants investment opportunities but selective GI exits likely for Aviva

  05-03-2015 14:35
  
  Francesca Nyman Postonline
  
  
  The Friends Life deal will “accelerate” Aviva’s turnaround and enhance its ability to deliver improved cashflow and growth according to CEO Mark Wilson.
  
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• Friends Life grants investment opportunities but selective GI exits considered

  05-03-2015 14:35
  
  Francesca Nyman Postonline
  
  
  The Friends Life deal will “accelerate” Aviva’s turnaround and enhance its ability to deliver improved cashflow and growth according to CEO Mark Wilson.
  
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• MGA's and specialists lead the way in product innovation, SSP says

  05-03-2015 14:34
  
  James Verrinder Postonline
  
  
  General insurance technology provider SSP has identified managing general agents and specialists as top innovators in its new white paper.
  
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• Money Talks: ticket clampdowns, pothole payouts and starter homes

  05-03-2015 14:33
  
  Plus, household incomes rise, house prices fall and pension savers weigh up their options
  Hello and welcome to this week’s Money Talks – a roundup of the week’s biggest stories and some things you may have missed. Continue reading...
  
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• UK Broker Summit 2015: Brokers square up to technological challenge

  05-03-2015 14:20 via insuranceage.co.uk
  
  Panellists argue aggregators and driverless cars will change not destroy business.
  
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• Brokers to provide risk management guidance with online tool

  05-03-2015 14:01
  
  Katie Marriner Postonline
  
  
  Brokers are being encouraged to provide their clients with risk management guidance as an online digital tool is launched by Axa.
  
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• UK Broker Summit 2015: Technology an opportunity for brokers

  05-03-2015 13:39 via insuranceage.co.uk
  
  Delegates told to anticipate future technology to gain advantage in their business.
  
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• Hiscox to underwrite Direct Insurance recycling scheme

  05-03-2015 13:19
  Insurer to be exclusive underwriter for the product
  
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• Hiscox to underwrite Direct Insurance recycling BI scheme

  05-03-2015 13:19
  Insurer to be exclusive underwriter for the product
  
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• Europe C-Suite: Making it happen for International Women's Day

  05-03-2015 13:05
  
  Melanie Steel Postonline
  
  
  RSA's Melanie Steel on why more needs to be done by the global insurance industry to attract women into the sector.
  
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• ACE Group hires claims director for Continental Europe

  05-03-2015 13:00
  
  James Verrinder Postonline
  
  
  ACE Group has hired Tim Scott-Young as claims director for Continental Europe.
  
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• Seven in 10 drivers hit potholes but many fail to claim compensation

  05-03-2015 12:35
  
  Research by Which? shows that over the past two years, only two-thirds of those whose cars were damaged as a result tried to negotiate a payout
  Seven in 10 UK drivers hit potholes over the past two years, according to a survey wthat shows only two-thirds of those whose cars were damaged went on to claim compensation. Research carried out by consumer group Which? found that four in 10 drivers who hit a hole and damaged their vehicle did not claim because they did not know how. A similar proporti
  
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• Admiral's Engelhardt expects rapid US growth

  05-03-2015 12:33
  The insurer’s US insurance arm grew its customer base by 50% over 2014
  
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• Axa launches digital tool for risk management

  05-03-2015 12:27 via insuranceage.co.uk
  
  Brokers will be able to use the tool to help clients who have policies with the insurer.
  
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• Motor rate decline to halt in 2015, says Admiral UK CEO

  05-03-2015 12:17
  
  Francesca Nyman Postonline
  
  
  Price reductions in the UK motor market are set to end in 2015, as cheaper claims frequency rises in the wake of lower fuel costs, according to Admiral Group’s UK CEO David Stevens.
  
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• Insurance Europe calls for EIPOA stakeholder workshops

  05-03-2015 11:59
  
  James Verrinder Postonline
  
  
  Insurance Europe has commented on the consultation on the second set of the European Insurance and Occupational Pensions Authority's Solvency II implementing technical standards (ITS) and guidelines, which closed this week
  
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• Increased claims will push up motor premiums - Admiral

  05-03-2015 11:48
  The insurer expereinced a 3% increase in motor claims in 2014
  
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• Aviva UK & Ireland profit rises to £499m in 2014

  05-03-2015 11:42 via insuranceage.co.uk
  
  COR also improves to 94.9% from 97.2% the previous year.
  
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• AXA launches risk managment tool for brokers' commercial clients

  05-03-2015 11:14
  The tool Riskhelp.co.uk will help businesses get a better understand of both their legal and civil liabilities
  
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• Henderson appoints Counsell as non-exec chairman

  05-03-2015 11:05 via insuranceage.co.uk
  
  Former Deloitte finance director replaces Fred Gibson, who is moving to a non-executive director role.
  
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• Aviva achieves best COR in eight years

  05-03-2015 10:55 via insuranceage.co.uk
  
  Insurer posts group COR of 95.7% and revenue of £1.4bn in 2014 results.
  
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• Admiral cites Google for drop in Confused's profit to £15.8m

  05-03-2015 10:38 via insuranceage.co.uk
  
  Admiral Group has reported that its UK aggregator Confused.com saw a drop in pre-tax profit to £15.8m in 2014 (2013: £21.7m).
  
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• Aviva records 6% increase in operating profit

  05-03-2015 10:32
  
  Francesca Nyman Postonline
  
  
  Aviva posted a 6% increase in group operating profit 6% to £2.17bn for the 2014 financial year, and an improved combined ratio, as CEO Mark Wilson warned the firm had “further to travel” with its turnaround plan.
  
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• Admiral founder Engelhardt warns of 'irrational competitors' who will 'lose lots of money'

  05-03-2015 10:14
  Engelhardt says Admiral must stay cool amid some crazy competition
  
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• Quindell sells 25% stake in Nationwide Accident Repair Services for £7.1m

  05-03-2015 10:09
  Outsourcer also settles court case and issues more shares as part of a further deal
  
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• Admiral posts reduced profit in first year since float

  05-03-2015 10:01
  
  Francesca Nyman Postonline
  
  
  Admiral Group posted a profit of £357m in its first year since going public, but failed to hit the record high of previous years.
  
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• Admiral posts reduced profit for first time since float

  05-03-2015 10:01
  
  Francesca Nyman Postonline
  
  
  Admiral Group posted a profit of £357m for 2014, the first fall in profit since its stock market flotation in 2004.
  
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• Google search engine change hurts Confused profits

  05-03-2015 09:45
  Confused joins Moneysupermarket in claiming it has suffered because of changes made by Google
  
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• Wilson: Aviva has ‘further to travel’ despite doubling profit

  05-03-2015 09:34
  Group COR of 95.7% ‘best in eight years’
  
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• Admiral UK motor profit up 1% as turnover drops from falling premiums

  05-03-2015 09:19
  The insurer started increasing new and renewal business prices in 2014 and anticipates further hikes in 2015
  
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• Admiral UK motor profit increases by 1% as turnover drops from falling motor premiums

  05-03-2015 09:19
  The insurer started increasing new and renewal business prices in 2014 and anticipates further hikes in 2015
  
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• Aviva UK GI profit up 6% after ‘best COR since 1999’

  05-03-2015 08:53
  Commercial business returns to underwriting profitability
  
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• Henderson scraps plans for Glasgow branch

  05-03-2015 08:15
  In January Henderson said office of six would be led by Central Insurance Services ex-regional director Tom Aldridge
  
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• AXA Scotland mid-market push showing early signs of success

  05-03-2015 08:10
  In first month since kick-starting campaign branch is writing four times more mid-market premiums than a year ago
  
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• Hanks buys small Jelf stake

  05-03-2015 07:30
  Ex-CII president is non-exec director of broking group
  
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• The changing face of customer service

  05-03-2015 05:24 via insuranceage.co.uk
  
  With clients demanding a more personalised service, Jo Causon looks at how brokers can improve the customer’s experience
  
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• A quarter of firms likely to miss Solvency II deadline

  05-03-2015 02:00
  
  Francesca Nyman Postonline
  
  
  Most insurers expect to be ready for the reporting and disclosure requirements of Solvency II by the end of the year, however a significant minority will struggle to meet to deadline, a survey by financial adviser Grant Thornton has found.
  
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• Editor's letter - March 2015

  05-03-2015 01:51 via insuranceage.co.uk
  
  “In recent months… you would rarely see mention of Towergate without the word ‘troubled’. That has passed for now”
  
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• Broking success: Network growth

  05-03-2015 01:34 via insuranceage.co.uk
  
  Managing director Roger Gaunt set up Leeds-based broker Gauntlet 20 years ago. He explains how he developed and diversified the business and shares his thoughts on succession planning
  
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