All Finance articles – Page 133
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Fortis gives rate warning
Fortis Insurance chief executive Barry Smith has warned that insurers’ hunger for market share could hamper the recovery of the commercial lines market.Smith said that, despite the major insurers’ moves to increase commercial lines rates, there was still uncertainty as to whether rates would increase across the market.“The commercial market ...
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Broker Network chief predicts takeover interest
Broker Network chief executive Grant Ellis has said that the company is likely to receive further approaches in the coming months.Ellis, who was speaking at the company’s third national conference in Cambridge, warned that prospective suitors would have to pay a considerable sum for the business, which recently completed its ...
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New Allianz division as weather hits profits
Allianz Insurance saw its profits for the first nine months of the year hit by the £83m cost of weather-related claims in 2007.The company also announced the creation of a new personal lines division.The insurer reported third quarter pre-tax profit of £109.4m, down £62m compared to the same period last ...
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Highway’s broker arm to to launch aggregator
Highway’s broker arm, Hero, is set to launch its own aggregator early next year in an attempt to drive the group’s digital distribution strategy. The news came as Andrew Gibson, chief executive of Highway, laid out plans to grow the group’s GWP by 20% to £300m over the next ...
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GAB eyes £3m profit but seeks small tenders
GAB Robins chief executive Kieran Rigby said the company was looking to target smaller claims business, as he predicted profits would reach £3m in 2007.Rigby said the loss adjuster wanted to remain on the panels of the top insurers, but was looking to grow its business and believed success might ...
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Fortis 3Q results show increase in GWP
Fortis reports 12% increase in GWP (£581.5m) for first nine months 2007
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Highlands Insurance goes into administration
PWC experts appointed to deal with creditors claims
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Online onlyBe careful out there
Brokers must stick to sound business principles in the wake of the subprime crisis
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Treasury rules out corporation tax cut
Industry leaders meet Treasury officials to discuss how London can be more competitive
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Aggregators play down effects of VAT ruling
Aggregators are down-playing concerns that a recent VAT tribunal ruling could leave the price comparison insurance market with a massive tax bill.Traditionally, aggregators have been exempt from VAT on the commission and fees received from listing insurers on their panels. But a ruling last week removed the exemption from aggregator ...
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Lucas Fettes looks to sell after co-founder retires
Managing director confirms company is seeking a larger consolidator partner
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Oval ends speculation as Allianz takes 10% stake
Oval has confirmed that Allianz has taken a 10% stake in the company, putting an end to weeks of intense speculation.The broker said that Allianz’s involvement would strengthen its ability to complete acquisitions, while allowing existing share-holders to make minor reductions in their holdings. Oval chief executive Philip Hodson said: ...
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Markel International announces 3rd Quarter Results
Q3 GWP falls 8% on 2006 but combined ratio improves by 7 points
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Bank errors cost insurance industry thousands of pounds
Errors and delays cost brokers and insurers over £280,000 a year
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Private equity firm buys Cunningham Lindsey
Stone Point acquire majority stake in loss adjusting group
