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Engelhardt tops Sunday Times insurance Rich List
Admiral's Henry Engelhardt, pictured, was the insurance industry’s top player in this year’s Sunday Times Rich List, with a total worth of £528m, down £120m from last year. He came in at 156th place, down from 120.
Cunningham Lindsey signs three-year claims handling deal with Equity
Cunningham Lindsey has teamed up with Equity Red Star's home insurance division to provide the insurer with claims handling services.
Lloyd’s witnesses new wave of MGAs due to Solvency II and M&A activity
In recent months the industry has witnessed a renewed surge in the number of Lloyd's insurers teaming up with managing general agents to access new lines of business.
Equity starts performance-related pay
Equity Insurance's head of compensation and benefits, Ricky D'Ash, has revealed plans to introduce a grading system and performance-related pay for all 1,200 staff.
Brokers 'very positive' on in-vehicle management technology rollout
Equity Red Star CEO Ian Foy has hailed the rollout of in-vehicle management technology Equitrack, claiming that brokers have responded favourably to the belief that the launch will drive down costs and claims.
R&Q takes Syndicate 1208 from Equity
Randall and Quilter has reinsured-to-close the former 2007 year of account of Syndicate 1208 into the 2012 year of account of Syndicate 3330.
IAG reports loss of $7m for H1 2012, as CEO hails improvement
Insurance Australia Group has reported that its UK arm made an underwriting loss of Au$7m for the six months to 31 December 2011.
Names protest group calls for Lloyd's meeting over Equity censure
A Names protest group that was burdened with losses from Equity Syndicate’s 2007 account is seeking a meeting with the Lloyd’s Enforcement Board to discuss the findings of its investigation.
Post Intelligence Benchmarking - Commercial insurers: Winners and losers
The annual Insurance 360 Business Insurers Insight Report service rankings show some steady, some on ladders - and some on snakes.
Hastings stands by Utley as he prepares to face disciplinary board
Hastings Direct has vowed to stand by chairman Neil Utley, pictured, as he prepares to face the Lloyd’s disciplinary board later this month, as part of an investigation into Equity Red Star.
Lloyd’s censures Equity over reserves
The Enforcement Board of Lloyd’s has censured motor insurer Equity and demanded it pay £95 000 costs over its under-reserving of claims, but has spared the syndicate an expected £1m fine.
Equity Red Star names Dodd for fleet
Equity Red Star has appointed Andrew Dodd as its new motor fleet class underwriter, charged with growing key accounts.
Underwriting Service Awards 2011
The second annual Underwriting Service Awards ceremony took place at the Oval cricket ground, London, with more than 250 underwriters in attendance. The winners were determined by the feedback and views of intermediaries, who place risks on behalf of…
ULR Additions to appeal Webster Dixon decision
ULR Additions has lodged an appeal in the Webster Dixon case against the judgment which will force it to pay higher fees to non-panel solicitors chosen by legal expenses policyholders.
EDB extends Nissan affinity partnership
Bosses at Equity Direct Broking are celebrating the news that an existing affinity partnership with Nissan has been extended for a further three years, following a lengthy tender process.
Admiral share price slumps as Engelhardt warns of no reserve releases in Q4
Equity analysts are maintaining a “cautious hold” recommendation on Admiral’s share price as it dropped this morning revealing large personal injury claims continued to create large costs. Admiral boss Henry Engelhardt also warned there could be no…
Market moves: Getting ready for the fourth quarter
Lloyd’s players were the most active recruiters this week as the insurance industry looks forward to the fourth quarter. A number of underwriters in the London Market made appointments, with a view to strengthening their teams. Moves among insurers…
RSA to head to High Court to defend disputed subrogation policy
RSA is going to the High Court next year in a bid to defend its policy of adding as much as 25% to bills passed on to rival insurers through subrogation.
RSA’s enhanced motor claims add 25%
Britain’s fourth biggest motor insurer RSA stands accused by a county court judge of artificially inflating repair costs charged to other insurers by more than £2.4m.
IAG remains disappointed by UK performance
“Disappointing” was the word repeatedly used by Australian giant IAG about its struggling UK business, dominated by Equity Red Star at Lloyd’s that has been ravaged by bodily injury claims.
Lloyd's pursues own probe into Equity syndicate losses
Lloyd's is investigating Equity syndicate's reserve deterioration, Post has learnt, and a Names protest group says the outcome should prove influential to its own campaign over Equity's losses.
Post Magazine – 4 August 2011
This week the Post team reports on Lloyd’s decision to begin investigating Equity syndicate’s reserve deterioration. A Names protest group says the outcome should prove influential to its own campaign over Equity’s losses.
Lloyd’s pursues own probe into Equity syndicate losses – Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories including Lloyd’s decision to begin investigating Equity syndicate’s reserve deterioration. A Names protest group says the outcome should prove influential to its own…
Lloyd's Names group sets up investigation taskforce for syndicate losses
A Names group has set up an “investigation” taskforce to uncover the reason behind the huge losses of Lloyd's Equity syndicate 218 and KGM 260 in the 2008 account.