Articles by Burhan Khadbai
Co-op says impact of December floods causes £13m GI profit loss in 2015
The Co-operative group today posted a £13m profit loss for its general insurance division in 2015, marking a significant drop from £1m the previous year.
Autoglass rolls out UK-wide solution to calibrate ADS
Autoglass has introduced a UK-wide solution to calibrate Advanced Driver Assistance Systems, which support vehicle safety systems including autonomous braking and lane deviation warnings.
Smart Driver Club Insurance to offer up to 40% off premium for lower-risk drivers
Smart Driver Club Insurance, the insurance offering of former Wunelli CEO Penny Searles' new UK-first telematics venture, will offer a significant reduction in its premium for drivers with a low level of risk.
Thomas Carroll expands South Wales footprint with Monmouthshire deal
Thomas Carroll has acquired South Wales commercial insurance broker Monmouthshire Insurance Services, a subsidiary of the Monmouthshire Building Society Group.
FL360 looks to rehab growth as it acquires majority stake in Corpore TTN
FL360, the holding company of Speed Medical Examination Services, has acquired a majority stake in Corpore TTN, the independent rehabilitation and injury management firm.
Oil price shocks could drive insurers out of energy sector
Cost-cutting in the energy market as oil prices fall could see insurers consider exiting the sector, according to Willis Towers Watson’s annual energy market review.
BB&T completes $500m purchase of CGSC's US arm
US broker BB&T has completed the purchase of Cooper Gay Swett & Crawford’s US unit for $500m (£352m) in cash.
#postpeople 04 - 08 April 2016
All the latest insurance industry market moves between 4 and 8 April 2016.
SRA warning notice on PI fraud ‘a marker in the sand’
The warning notice on potential fraud in personal injury cases issued by the Solicitors Regulation Authority on 21 March is a vital move and serves a clear function to remind lawyers of their duties to address the issue, according to legal commentators.
European windstorm tops Perils exposure list for 2016
European windstorm has topped Perils’ industry exposure database in 2016 with €54trn (£42trn) of insured property values.
Swiss Re completes $152.5m IHC Risk Solutions takeover
Swiss Re Corporate Solutions completed its acquisition of stop loss underwriter IHC Risk Solutions from Independence Holding Company yesterday (31 March).
Ryan Direct Group completes Midas purchase
Insurance services firm Ryan Direct Group has completed the acquisition of Northern Ireland-based managing general agent Midas Underwriting for an undisclosed amount.
Bank of Scotland launches car insurance with BGL's Junction
Bank of Scotland, part of the Lloyd’s Banking Group, has partnered with BGL Group’s Junction to offer car insurance.
Keoghs to focus on PI changes as it joins ABI as associate member
Law firm Keoghs has become the third associate member of the Association of British Insurers and aims to work closely with the trade body on changes to the personal injury process.
Gable expects losses of £7-8m for 2015 as it updates on Solvency II compliance
Gable Holdings has confirmed its regulator the Financial Market Authority Liechtenstein has approved its funding arrangements announced in December, whereby its subsidiary Gable Insurance AG has a two-year transitional period to meet the Solvency Capital…
FM Global blames dollar strength for premium decline as combined ratio rises
FM Global said its financial results for 2015 were ‘outstanding’ despite a drop in its gross in-force premium and an increase in its combined ratio.
#postpeople 29 March - 1 April 2016
All the latest insurance industry market moves between 29 March and 1 April.
Saga partners with New Re to 'reduce exposure' underwriting risk
Saga has signed a quota share agreement to cover 75% of the motor policies risks of its in-house underwriter AICL from 1 February.
Unicorn says ‘diversifying’ the next step after Berkshire backing
Unicorn Underwriting has confirmed it will not limit itself to UK commercial lines but aims to move into all classes and territories after partnering with Berkshire Hathaway.
Solvency II drives increase in Lloyd's legacy portfolio sales
An increasing number of firms are looking to dispose of their legacy portfolios as Solvency II puts pressure on capital requirements.
Insurers profits to fall due to low returns, rising costs
The profits of general insurers are expected to fall over the next three months due largely to a rise in costs and low returns on investment, according to the latest PWC and CBI financial services survey released today (29 March).
Amwins Group member Unicorn Underwriting gets backing to write motor fleet
US-based insurance distributor Amwins Group will partner with Berkshire International Insurance to enter the motor fleet business, via Amwins’ London-based managing general agent Unicorn Underwriting.
Marketform confirms commitment to underwriting lines
Lloyd’s underwriter Marketform has confirmed its commitment to all 11 of its current underwriting lines, following a strategic review of the business.
Post Office’s CMO Pete Markey joins Aviva
Aviva has added the Post Office's former chief marketing officer Pete Markey as UK director of brand communications and marketing.