Tag Archives: financial news

Thatcham confirms partnership with CATARC

Thatcham Research has confirmed a partnership with CATARC, the China Automotive Technology and Research Centre, to enable the introduction of a vehicle insurance rating scheme into China. Funded by UK insurers, one of Thatcham’s key responsibilities is in administering the insurance Group Rating system on behalf of the ABI (Association of British Insurers). The newly signed agreement with CATARC will […]

UK car production reaches record high

British car manufacturing has hit its highest level for the year-to-date in a decade, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). A total of 1,318,452 new cars rolled off UK production lines in the first 10 months of the year, the best performance since 2005 and up 2.8% year-to-date. Exports drove volumes in […]

Government must focus on ‘quality’ apprentices

With the UK skills shortage under intense scrutiny – businesses say ‘quality over quantity’ is key to future business success and productivity improvements.  Motor industry employers, including garages, dealerships and accident repair centres, are today calling on the Government to focus their efforts on the quality of training rather than the number of new apprenticeships available to help their businesses […]

Crash for cash dropped by £60m

New figures released suggest the cost of ‘crash for cash’ fraud has dropped by almost £60 million in the last three years following a major crackdown by insurers and the police, forcing insurance cheats to change tack. Statistics from the Insurance Fraud Bureau (IFB) indicate an overall decline in ‘crash for cash’ fraud, with total scams now valued at £336 […]

IFB step up battle against fraud

The Insurance Fraud Bureau (IFB) is planning to hold a round table with aggregators next month to talk about how they can work together in the fight against insurance fraud, the Insurance Times reports. IFB director Ben Fletcher said, ‘Theoretically aggregators could join the IFB if they wanted to. There is no reason why they can’t. We have been talking […]

Keychoice partner with RAC

Keychoice, the insurance distribution business owned by SSP, has signed a new deal that will see the RAC become the exclusive partner for motor breakdown. From early next year, brokers who are Keychoice members will have exclusive access to a fully integrated breakdown recovery scheme for cars, vans and motorbikes from the UK’s most experienced breakdown provider. In addition to […]

Allianz profitable growth continues

Allianz Insurance has reported ‘profitable growth’ despite what it describes as ‘intensive competition in key markets’. Chief executive officer, Jon Dye, released a statement on Allianz’s progress, ‘I am pleased to report that Allianz has maintained its long- term delivery of profitable growth despite intensive competition in key markets. Premium growth at 2.7% coupled with a Combined Operating Ratio of […]

Record sales for BMW

Following on from the best ever first three quarters in the company’s sales history, October was another record month for BMW Group deliveries. Sales of BMW, MINI and Rolls-Royce brand vehicles totalled 191,651 for the month, an increase of 4.0% compared with the same period last year. In the first ten months of the year, total sales of BMW Group […]

BFS pledges SME cash

More loans are expected to flow to small businesses after Bibby Financial Services (BFS) has pledged to increase its funding for UK small and medium-sized enterprises (SMEs) by more than £290m after refinancing with a banking club. The invoice finance provider has agreed a new deal with Barclays Bank, Bank Of America Merrill Lynch, HSBC Bank and Lloyds Bank. BFS chief executive David Postings […]

Young drivers underestimate cost of insurance

More than half of young drivers do not budget enough money to pay for their insurance in their first year of driving, new RAC research reveals. Fifty-six per cent of the 500 young drivers surveyed for RAC Black Box Car Insurance expected their first premium to be under £750 when the average insurance cost for 25-year-olds and under is in fact £810 […]

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