All articles by Ima Jackson-Obot – Page 8
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NewsBrightside suffers drop in EBITDA as turnaround continues
But group boss Mark Cliff says EBITDA performance is on target in tough market
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NewsBrightside HQ's sale and lease back deal falls through
The Brightside deal collapsed as a result of Brexit
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NewsAdmiral hopes Brexit will bring changes to gender pricing
Group chief exec Stevens says gender pricing for motor insurance is ”unfair”
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NewsFCA in u-turn over client money rules
FCA abandons changes to client money rules following industry feedback
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NewsAnalysis: Insurance Act could be boon for brokers
Brokers not fully prepared for today’s introduction of the Insurance Act
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NewsAnalysis: Probing FCA's Project Innovate
The FCA launched Project Innovate to help new technology and new products navigate the byways of regulation. We look at how it works, how effective it is and what’s new. What is it? Project Innovate was launched in November 2014 to foster competition and growth in ...
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NewsAnalysis: Licence to stand still - why the FCA is taking so long to approve broking bosses
The regulator is asking more questions of individuals and firms. New appointments kept waiting for months for the green light
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NewsAnalysis: Value for insurers will boost broker commissions
Retaining staff and clients will improve profits for insurers and help brokers negotiate for more commission and fees. At the most recent Insurance Times Broker 50 held in London, broking bosses thrashed out the key ways in which they could grow their businesses. Chief executives from ...
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NewsBrexit, economic turmoil could deter insurance buying
Firms may have to scale back growth projections as capital gets harder to find. Only a fifth of brokers think their businesses will grow post Brexit
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NewsStorms drive up Lloyds Bank general insurance COR by 16 points
Lloyds Banking Group’s general insurance business experienced a 16 percentage point deterioration to 89% in its combined operating ratio (COR) in the first half of 2016 (2015: 73%), partly driven by adverse weather in the first half of 2016. The bank said it helped more than ...
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NewsBP Marsh hires bank to advise on sale of Besso stake
The board of Besso and its shareholders have hired investment bank and financial advisory firm Canaccord Genuity to carry out a strategic review for the Lloyd’s broker. Venture capitalist BP Marsh which is led by Brian Marsh (pictured), has a 44.97% stake in the broker announced ...
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NewsERS swoops to rescue Enterprise Insurance's fleet customers
ERS has come to the rescue of policyholders whose insurance policies where underwritten by collapsed insurer Enterprise through the MGA Andeva. In a statement today ERS said it had “stepped up to support brokers” following the news that the Gibraltar Financial Services Commission (GFSC) last Friday ...
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NewsFour 'cash for crash' fraudsters jailed in scam against Allianz
Four fraudsters have been jailed for six months each for their part in a ‘cash for crash’ scam against Allianz. Igor Kartel, Dianna Kartel, Valentina Kartel and Piotr Kartel had claimed over £30,000 for whiplash compensation following a rear-end collision in 2012, involving a lorry driven ...
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NewsBrexit: Hiscox mulls setting up EU-based insurance company
Hiscox has said it is considering setting up a new EU-based insurance company as trading arrangements become clearer following the UK decision to leave the EU. Following the release of the half year results this morning the Lloyd’s insurer said it was preparing for a range ...
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NewsIrish insurance firms to fund 35% of 3rd party motor claims if insurer fails
The Irish government is planning to extend the Insurance Compensation Fund to cover in full third-party motor claims arising out of the liquidation of an insurance company, with insurers paying 35% of the cost. But an insurance lobby group has criticised the move, saying it posed ...
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NewsZurich MGA to refund motorists as 14,000 hit by Enterprise demise
Zurich-owned underwriting agency Wrightway Underwriting which wrote business on behalf of collapsed insurer Enterprise has said it will refund outstanding premiums after 14,000 Irish motorists were hit by the insurer’s failure, according to reports. Late on Friday, Enterprise announced that the Gibraltar regulator Financial Services Commission ...
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NewsHiscox UK and Europe profits up 42.4%, appetite for larger risks grows
Lloyd’s insurer Hiscox’s UK and Europe division made a profit before tax of £65.2m in the first half of 2016, up 42.4% on the £45.8m in the same period last year. The division’s combine ratio improved by 6.9 percentage points to 79.9% (2015: 86.8%). Gross premium ...
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NewsTowergate makes hire from RKH to accelerate London Market growth
Towergate has confirmed the appointment of Neil Pearce as managing director of its London Market division. Pearce will join Towergate on 5 September and report directly to group chief executive David Ross. News reports in May had suggested Pearce was heading to Towergate. The broker says that Pearce’s appointment signals ...
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NewsFirms that use ARs must recognise responsibility - Biba
Insurers, brokers and networks that use ARs must recognise the model carries a higher degree of responsibility on the regulated firm than a simple delegated authority, Biba chief executive Steve White has said. He was responding to the findings of the FCA from its investigation into ...
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News'If FCA AR probe drives up quality it is a good thing' - TEn network boss
TEn network boss James Sharp says that FCA review into appointed representatives (ARs) will weed out the good firms from the bad ones. He welcomed the findings of the review, but added that in the short term it could cause insurers to form a negative view ...
