Articles by Chris Wheal
Mitsui takes on Axa’s property team
Mitsui Sumitomo at Lloyd’s has taken on the five-strong property owners’ team that left Axa earlier this year, led by Mike Phillips who was head of specialist markets.
Allan Clare resurfaces at Barclaycard
Former RBS Insurance risk and financial crime boss Allan Clare has moved out of insurance and into the better-resourced world of credit cards, becoming head of financial crime at Barclaycard.
Channel Syndicate launches into health
Lloyd’s Channel Syndicate 2015 has appointed Ian Fordham of Talbot to head its new accident & health division and says another underwriter will be joining soon.
Insurers best insulated against Euro debt default worries
Insurers and reinsurers are best insulated against Eurozone sovereign debt default worries according to Ernst & Young.
Pemberton launches €500m private fund
Specialist private equity firm Pemberton Capital Advisors is launching a €500m European Services Fund targeting the financial services and telecommunications sectors in Europe.
Douetil departs in Brit boardroom coup
The consultant advising Brit Insurance on future strategy, Mark Cloutier, is to replace the insurer’s current chief executive Dane Douetil from 27 October.
Bruce Stevenson boosts private clients
Scottish broker Bruce Stevenson has promoted Mark Richards, the former managing director of auction house Bonhams, to be director of its private clients team raising the importance of high net worth business.
Ecclesiastical to rebuild Scottish ring
Ecclesiastical has secured the return of an amethyst stone from a Church of Scotland ceremonial ring.
JLT completes Chile broker buy
JLT has completed the £10m acquisition of an initial 50.1% stake in Alta, the holding company of Chile’s fourth biggest broker Orbital Corredores de Seguros.
US P&C insurers’ H1 COR hits 110.5%
Private US property and casualty insurers’ net income after taxes fell to $4.8bn in the first-half of 2011 from $16.8bn in first-half of 2010, a report from ISO and the Property Casualty Insurers Association of America says.
E&Y says insurers are best insulated against Euro debt default worries
Ernst & Young has said insurers and reinsurers are best insulated against Eurozone sovereign debt default worries.
UK regulator expects Solvency II to be delayed
The UK's Financial Services Authority has said it expects insurers to have to comply with Solvency II rules from the delayed 1 January 2014 date.
European insurance guarantee schemes should be part of EU-wide body
The European Union should fund closer cooperation between insurance guarantee schemes in all EU countries, the European Insurance and Occupational Pensions Authority has said.
Esure hires banker to prepare for IPO
Esure, the motor insurer set up by insurance entrepreneur Peter Wood, has refused to comment on speculation that it has hired Deutsche Bank and JP Morgan to prepare the company for floatation.
Questgates wins Barbican liability claims contract
Lloyd’s insurer Barbican has appointed loss adjuster Questgates to provide liability adjusting services for syndicate 1955.
Ageas secures Vauxhall and Chevrolet deal
Ageas is to provide UK Vauxhall and Chevrolet customers with branded motor insurance under a five-year deal.
Run-off liabilities fall, but more slowly
KPMG’s annual run-off survey of UK non-life insurance, has shown that liabilities have reduced again in 2010 but at a slower pace than in the past.
APC brings in Wesson for broker push
Commercial insurance underwriting agency APC has hired Towergate’s Nicholas Wesson as a business development manager to support its expanding panel of brokers in the north of England and Scotland.
FSCS should be part of EU-wide body, says EIOPA
The EU should fund closer cooperation between the UK’s Financial Services Compensation Scheme and similar insurance guarantee schemes in all EU countries, the European Insurance and Occupational Pensions Authority has said.
Sword Insurance becomes Agency Port
The insurance software business bought out of Sword Group has changed its name to Agency Port and says it has companies knocking on its door wanting to be bought.
ABI says Solvency II delay ‘sensible’
The Association of British Insurers has described the Financial Services Authority’s announcement on the delay to Solvency II as “sensible”.
The Insurance Charities names president
Chartered Institute of Loss Adjusters development director Graham Cave has become president of the Insurance Charities.
FSA Solvency delay “an opportunity”
Insurance consultants have put a brave face on the FSA’s announcement that it expects to delay Solvency II by a year to 1 January 2014.
FSA expects Solvency II to be delayed
The Financial Services Authority has said it expects insurers to have to comply with Solvency II rules from the delayed 1 January 2014 date.