Transatlantic to launch UK personal lines brand - Insurance News Now – 26 May 2011
Post senior reporter Amy Ellis outlines this week's major general insurance stories that include how Transatlantic Re is poised to launch a new UK personal lines general insurance venture to capitalise on hardening premium rates in the motor market.
Post has learnt that the venture, which will be domiciled in Gibraltar, was granted permission in March by the FSA to passport into the UK.
In other news insurers are racing to publicly outline their claims positions on the latest volcanic ash eruption, in a bid to avoid the media backlash the industry suffered 12 months ago; Gable CEO William Dewsall has accused the FSA of failing to support small insurance companies in the run-up to Solvency II implementation; Towergate Underwriting has set a £25m pounds target for its in-house e-trading arm set to launch this summer; and Vast Visibility, the new owner of aggregator The Bike Insurer, is in discussions with up to eight providers to expand into the specialist lines of caravan and classic car cover.
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