Motor – Page 97
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Post Office expands insurance team
Four key appointments to drive product and consumer base growth
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NewsTradex to target homes in high net worth drive
Tradex is to continue its expansion into the high net worth sector following the expiry of legal restrictions on its chairman. The motor trade specialist is gearing up to target the high net worth home market after a restrictive covenant on the chairman, Tony Lumsden-Cook, expired at the end of ...
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NewsAA/Saga merger threatens 2,000 jobs
?The £6bn merger of over-50s insurer Saga and the AA will lead to more than 2,000 job losses, the GMB union has warned. The warnings came amid fierce speculation about how the merger, which completed this week, would affect insurers’ trading relationships with the two companies. GMB national officer Paul ...
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Online onlyMobiles put drivers at risk
Using a mobile while driving is as dangerous as drink driving
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Online onlyThe saga continues
The impact on the insurance industry of the Saga/AA deal is still unclear
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News
Rein in discounts, says Highway chief
Highway Insurance chief executive Andrew Gibson has warned that market deals with brokers and premium discounts need to be reined in if the motor market is to achieve profitability. The motor specialist this week unveiled its interim results which highlighted challenging market conditions. The company saw pre-tax profits rise ...
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Chaucer to focus on cars
Chaucer will focus on the recovering UK private motor market in 2007 as the commercial motor market continues to suffer from falling rates. Unveiling its interim results, the Lloyd’s insurer said it would be taking into account a predicted upswing in private motor rates in the coming months. It ...
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Allianz claims switch puts 37 jobs at risk
?Allianz will soon be consolidating its claims divisions in a move that could cut up to 37 jobs.The company is reorgan-ising its claims divisions based on specialisation and will be closing its Leeds and Glasgow offices.Commercial property claims will handled in Birmingham, with motor and personal injury claims looked after ...
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RBS to allow brand on aggregator site
At least one of Royal Bank of Scotland’s (RBS) insurance brands is expected to appear on Tesco’s forthcoming aggregator site. The move by RBS to allow an insurance brand to participate in a price comparison site would represent a U-turn by the banking giant, which has taken an anti-aggregator stance. ...
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Groupama beats broker bidders to buy Lark Group
Groupama has beaten off broker competitors to buy a majority stake in top 50 broker Lark Group for what is believed to be in the region of £47m.The acquisition, which was predicted by Insurance Times in July, follows the purchase of a 60% stake in Bollington Group. Lark, which is ...
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Protectagroup buys Hodge
?Protectagroup has taken a significant step toward its £25m brokerage target by the end of next year with the acquisition of Hodge Insurance Brokers.Hodge has a brokerage of £1.86m and controls £9m in premium, and is the first of three major acquisitions planned by Protectagroup. Protectagroup chief executive, Paul Ragan, ...
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Admiral profit soars as premiums grow 10%
Admiral has announced record profit growth over the first six months of this year, fuelled by the success of its non-underwriting businesses, including aggregator Confused.com. Profit before tax rose by 26% year on year to £86.3m, while group turnover grew by 16% from £359.2m to £417.8m. Total premiums grew by ...
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FeaturesThe game of the name
Considerable effort is spent on naming and branding insurance companies, but does it matter? Chris Wheal explains
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Equity buys RF Hobson to grow Staffs presence
?Equity Insurance has completed its third acquisition in eight weeks with the purchase of broker RF Hobson.Based in Lichfield, RF?Hobson specialises in commercial lines, part-icularly, fleet, agriculture and professional indemnity. It has a GWP in excess of £2m.The acquisition brings Equity to 80 branches in the UK, and a step ...
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Online onlyFool.co.uk selects comparethemarket for motor insurance
Search engine to provide over 300 quotes for car and van covers
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Hastings underwriting error hits 3,000 policies
Almost 3,000 people have had their motor insurance revoked after Hastings Direct discovered an underwriting error.Customers began receiving calls two weeks ago warning that their insurance would be can-celled within seven days as a system programming error meant they were being under-charged on their premiums.Hastings spokesman Jeffrey Roberts said clients ...
