Articles by Francesca Nyman
Towergate's Lyons hails creditor deal as ‘vote of confidence’ in the broker
Alastair Lyons, Towergate interim CEO, has hailed the deal reached with secured and unsecured creditors as “a vote of confidence” in Towergate and its future strategic plans.
Towergate confirms unsecured bondholders to purchase majority share
Towergate has confirmed that it has reached an agreement to be acquired by its senior unsecured creditors.
Aon posts 3% increase in revenue in Q4
Aon posted a 3% increase in revenue to $3.3bn (£2.16bn) in the final quarter of 2014, primarily driven by 6% organic revenue growth. organic revenue grow by 6% to $3.3bn (£2.16bn) in the final quarter of 2014, the broker’s results published today…
IUA and LMA prepare guidance on Insurance Act changes
The International Underwriting Association and Lloyd’s Market Authority are working with legal specialists to prepare guidance on the impact of the incoming Insurance Act on their members.
Ireland performance was ‘too good to be true’ says RSA CEO Hester
RSA’s performance in Ireland was “too good to be true” and should have been recognised earlier, according to group CEO Stephen Hester.
MGA start-up gambling on growth of HNW homeowner market
Large numbers of homeowners with significant assets are failing to purchase appropriate insurance cover, according to the chairman of a newly launched managing general agency targeting the high net worth market.
Aviation rate rises ‘more muted’ than initially hoped, says Beazley boss
Intense competition in the aviation market - particularly in the area of war risks - has prevented the industry securing the rate rises necessary following a spate of costly plane losses, according to Beazley’s chief underwriting officer Neil Maidment.
Willis and Miller merger a ‘tragedy’, says Gallagher boss Ross
Willis’ planned acquisition of Miller has been labelled "a tragedy" for the market by Arthur J Gallagher International CEO David Ross.
Duff and Phelps to acquire American Appraisal
Global valuation and corporate finance advisor Duff & Phelps Corporation has agreed to acquire global full-service valuation and fixed asset management advisor American Appraisal.
Ageas confirms Stanley’s departure after ‘consultation process’
Ageas’ change and development director will be leaving the business at the end of March, the insurer confirmed today.
Insurance Bill awaits royal assent after passing in Commons
The Insurance Bill passed unanimously in the House of Commons today (3 February) and is now only waiting for Royal Assent to become law.
RSA holds motor event at the House of Commons
MPs, transport officials, road safety and telematics specialists met in the House of Commons today (3 February) to discuss how government and businesses can work together to ensure emerging technologies benefits drivers.
Voluntary code mooted to tackle automatism loophole
Insurers should consider adopting a voluntary code to ensure injured policyholders are compensated even in situations where negligence cannot be established, according to the firm at the centre of an automatism loophole dispute.
Audio: Lyons on rival Towergate bids
Towergate interim CEO Alastair Lyons discusses the firm's various former suitors and why the debt-for-equity swap deal with senior creditors was its preferred bid.
Gallagher announces interim CFO for international business
Arthur J Gallagher has appointed Ian Story as interim chief financial officer for the company’s international business, subject to regulatory approval.
Towergate tipped for future sale despite debt-for-equity deal
There is “no question” Towergate will be up for sale once again in the coming years, according to market insiders, who believe the swift appointment of a CEO is paramount following this week’s debt-for-equity deal.
Video: Chairman of UK Spill Stewart Ower
OHES Environmental founder and chairman of UK Spill Stewart Ower speaks with Post about raising the profile of UK Spill, the benefits of good spill response, and life as part of Arthur J Gallagher.
Other offers undervalued Towergate, claims interim boss
Rival bids for Towergate were lodged but all undervalued the business, the company's interim CEO Alastair Lyons has said.
ABI index shows average motor premium is down by 4% in 2014
The average price paid by motorists for private comprehensive motor insurance during 2014 fell by 4% compared to 2013, according to figures published by the Association of British Insurers today.
Das UK remains on negative watch as it conducts internal investigation
Standard and Poor’s has confirmed that Das Legal Expenses, the UK arm of the Munich-Re owned legal protection insurer, remains on credit watch with negative implications, as it completes its internal investigation.
Costs irrecoverable where CFAs fail to comply with cancellation regulations rules court
Defendants who identity the absence of a cancellation clause in conditional fee arrangements could avoid paying costs, after a Court of Appeal decision.
Bennetts will be run as 'standalone business' says Saga Services CEO
Motorcycle broker Bennetts, which agreed to be acquired by over 50s insurer Saga yesterday (29 January) will be largely run as a standalone business according to Roger Ramsden chief executive of Saga Services.
Fraudster sentenced after faking burglary to make £30k claim
A fraudster who staged a burglary in order to claim nearly £30,000 on his home insurance has been handed a 10 months suspended sentence and been ordered to do 270 hours of unpaid work.
Claims handler to use 3D printers to replicate 'irreplaceable' jewellery
High net worth policyholders could be offered identical replacements for valuable lost and stolen jewellery thanks to a new collaboration between claims handler SBS Insurance and jewellery experts at Birmingham City University.