Articles by Mark Sands
Towergate tipped for future sale despite debt-for-equity deal
There is “no question” Towergate will be up for sale once again in the coming years, according to market insiders, who believe the swift appointment of a CEO is paramount following this week’s debt-for-equity deal.
Market Moves - 5 February 2015
All the latest job moves in the insurance market.
ERS recruits Innovation Group to manage repair and engineering network
Motor Insurer ERS has inked a three year deal with Innovation Group that will see the claims specialist manage its repair and engineering network for cars, light and heavy commercial vehicles.
Towergate Financial facing £85m mis-selling bill
Towergate expects to pay up to £85m in redress costs for the mis-selling of two financial products to the end of 2012.
Med Co inviting claimant solicitor and insurer registrations
Claimant solicitors and insurers have been invited to sign up with Med Co Registration Solutions from 31 January ahead of the full launch of the search facility.
Cega names Hardie as group CEO
Medical assistance and claims business Cega has named health, life and accident business lead Alistair Hardie as its new group CEO.
11 banks facing 2 million compensation bills over card protection product
Eleven banks and credit card issuers may be forced to pay compensation to approximately two million people over the sales of a card security product.
FCA launches fresh PPI complaints investigation
The Financial Conduct Authority has announced a new probe into complaints over the sale of payment protection insurance that may see it set a time limit for complaints.
EU Commission approves Flood Re
The European Commission has agreed that Flood Re does not violate rules on state aid by seeking to ensure the availability of low cost flood cover.
81% want tighter regulation over CMC calls
More than 80% of Britons want telemarketing firms working with claims management companies to face closer regulation and bigger fines, while 63% want unsolicited CMC communications to be made illegal, according to a study from Axa.
Former Cunningham Lindsey UK property director heads to Questgates
Specialist loss adjuster Questgates has recruited the former UK property director of Cunningham Lindsey to serve as its first business enhancement director.
Clark Thomson buys Willis’ Scottish commercial business and joins WCN
Clark Thomson Insurance Brokers has agreed a deal to acquire Willis’ commercial business in Scotland, while also joining the Willis Commercial Network.
Car renter trade body recruits Hill Dickinson for counter fraud drive
The British Vehicle Renting and Leasing Association has partnered with Hill Dickinson to tackle fraud in the self-drive hire sector.
Saga shares climb 11% on Bennetts announcement
Over-50s specialist Saga has seen its share price surge by more than 10% in a day’s trading following an announcement that it would pay £26.26m to acquire motorbike broker Bennetts.
Winter storm Juno brings near-record snows to Boston
A blizzard in the Northeast United States almost shattered records for snow in Boston, despite the impact in New York and New Jersey being less than anticipated.
£30m of luxury cars taken from rescued Hoegh Osaka
Luxury cars worth £30m have been rescued from stricken car transporter ship the Hoegh Osaka, which was stranded in The Solent for almost three weeks.
Gallagher teams with Limbcare for bespoke property covers
Arthur J Gallagher has teamed up with specialist amputee and limb-impaired charity Limbcare to launch a new range of bespoke buildings and contents covers.
Lexham enters car market with telematics offering
Moped and scooter broker Lexham is to expand into the car insurance market as part of a partnership with telematics firm Tracker.
Home insurance premiums sliding from stability says ABI
The latest figures from the Association of British Insurers’ premium tracker show that premiums for home insurance have begun to decline after previously showing signs of stability.
IUA airs experience fears over PRA's new insurance lead
The International Underwriting Association has revealed concerns over a lack of insurance experience at the Bank of England after Sam Woods was named executive director of insurance supervision.
Saga buys Bennetts in £26.26m cash deal
Saga is to pay £26.26m in cash to BGL Group to buy specialist broker Bennetts, in a deal that will grow the over-50s insurer's existing motorbike customer base more than ten-fold.
PRA names Woods as insurance supervision lead
The Prudential Regulatory Authority has named financial stability strategy and risk director Sam Woods as its new executive director of Insurance supervision, replacing Julian Adams.
ABSs highlighted as claims upsurge threat as CMC numbers dwindle
The rapid demise of claims management companies and the subsequent reduction in bodily injury claims is in danger of being offset by the future strategy of insurance companies with alternative business structures, according to market observers.
Market Moves - 29 January 2015
All the latest job moves in the insurance market.