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Insurance

The true cost of the floods in Thailand last year is only now beginning to emerge. Picture: Getty

Lloyd’s faces £1.4bn hit from Thai floods

Last year’s Thai floods look set to cost the Lloyd’s of London insurance market some £1.4 billion, the third-biggest loss it has absorbed in its 324-year history.

RBS arm renamed to aid sale plan

Royal Bank of Scotland’s insurance division RBS Insurance is to change its name to Direct Line Group as part of plans to find a buyer for the business.

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New deal is far from a car crash

Accident Claims Scotland (ACS), the Paisley-based car crash management firm, has signed a deal with an English peer that it expects will add at least 50 per cent to its turnover.

Bidders line up for Axa insurance sale

Lloyds Banking Group’s private equity arm is understood to be among bidders for a £50 million employee benefits company being sold by insurer Axa.

Sainsbury’s moves home insurance

SAINSBURY’S financial services arm has dropped Halifax as its home insurance underwriter and moved to Royal Bank of Scotland following a competitive tender process.

Moreland signs deal with British Franchise Association

MORELAND Insurance, one of Scotland’s biggest brokers, has signed a strategic partnership with the British Franchise Association.

David Nish heads Standard Life which won the �100m case

Standard Life wins £100m case

Standard Life has won a legal dispute against a group of insurers who refused to pay out on a £100 million claim.

Aegon seals £1.7bn bank credit deal

Dutch insurance company Aegon, which owns the Edinburgh-based group of the same name, yesterday said it agreed a €2 billion (£1.7bn), five-year credit facility agreement.

Ros Altmann wants a radical rethink on pensions in the UK

Radical redesign ‘is essential for pensions’

PENSIONS should be radically redesigned into more flexible “lifetime savings accounts” to help young people pay off debts such as student loans, according to the head of Saga.

Broadening choice in travel insurance

MoneySupermarket.com has launched a new travel insurance channel for people with pre-existing medical conditions, making the task of buying insurance easier for the one in five people who require cover of this type.