News
This week: The Godfathers of insurance return
Just when they think they’re out, insurance pulls them back in. This week, two big names from the recent past, Stephen Catlin and Steve McGill, returned to the fold.
AIG Europe posts profit of £59.5m despite a fall in premiums
AIG Europe has reported a profit before tax of £59.5m for the 12 months to 30 November 2018, up from a loss of £431.5m the previous year.
Former Cunningham Lindsey boss Pigot joins McLarens
McLarens has appointed David Pigot to the newly created role of director of London Markets and global head of specialty.
Senior departures at RSA as it announces management shakeup
RSA has announced a number of senior role changes in its UK and international business.
Eldon Insurance director no longer at the broker
Jacobus Coetzee no longer holds a directorship at Arron Banks’ Eldon Insurance.
Steve McGill launches new PE-backed specialty risk solutions business
Steve McGill, former group president of Aon, has launched a private equity-backed specialty risk solutions business alongside a team of other senior executives.
GRP brokers make three acquisitions
GRP-owned Cavendish Munro has made one acquisition, while Green Insurance Group has bought two businesses.
Lloyd's pitches automated online platform as it consults on future strategy
Lloyd’s CEO John Neal today launched a 10-week consultation on the future strategy of the insurance market, presenting six proposals that “could form the blueprint for a new Lloyd’s”.
Abbey Legal BTE rebrands to Markel Legal Expenses Insurance
Abbey Protection Group and its associated branding, including Abbey Legal Before the Event Services, has rebranded to Markel.
Allianz proposes office closures that put 97 staff at risk of redundancy
Allianz has proposed shutting its Woking and Luton offices, which could lead to 97 people being made redundant.
Covéa strikes up motor insurance deal with John Lewis
Covéa has arranged a deal with John Lewis Finance that will see it act as the sole insurer for the company’s motor insurance offering.
Claims costs drive an increase in van insurance premiums
Claims costs have driven an average premium increase of 35.1% since April 2014, Consumer Intelligence has found.
BMS appoints Nick Moss as chief financial officer
BMS has appointed Nick Moss as chief financial officer of the group.
Stephen Catlin points to 'vacuum of leadership in the London market' as he launches latest venture
Talking following the launch of new venture Convex yesterday, Stephen Catlin said “there is a vacuum of leadership in the London market”.
Spotlight on: Beazley's Birmingham office
Exclusive: Beazley opened its Birmingham office as part of a strategy to diversify away from its core US business. Fourteen months later, the office is likely to be held up as a model for the company's further expansion plans.
General insurers see FSCS levy increase £1m more than expected for 2019/20
The Financial Services Compensation Scheme has revealed that its levy for 2019/20 will be £532m over a twelve month period, £16m more than planned, with general insurers paying an extra £1m than anticipated.
KPMG fined £6m over Equity Syndicate Management audit
The Financial Reporting Council has issued sanctions against KPMG and others in relation to its Equity Syndicate Management audit.
Catlin founder launches PE-backed specialty insurer Convex
Stephen Catlin and Paul Brand, both formerly executives at the Lloyd’s insurer that bore Catlin’s name, have launched a new specialty insurer and reinsurer with $1.8bn (£1.4bn) in initial capital.
Axa places 125 jobs at risk following claims restructure
Axa has placed 125 roles at risk of redundancy as a result of further restructuring of its claims business.
Allianz in talks to buy L&G general insurance business – report
Allianz is in talks to buy Legal & General general insurance business, according to Sky News.
Scor shareholders reject CIAM’s proposed resolutions
Scor's shareholders express their opposition to the “destabilisation” attempt led by the activist fund CIAM.
ABI tracker shows fall in motor premiums in advance of whiplash reforms
The average cost of motor insurance fell to its lowest level in two years, according to a survey from the Association of British Insurers.
Analysis: What do Tesla’s insurance ambitions mean for its partners?
Exclusive: Tesla’s plan to launch its own insurance for customers within a month has raised questions over how it will affect its current affinity deals with insurers.
This week: A rest or a change
I was lucky enough to spend last week’s sunny bank holiday on the South Coast enjoying a well-earned rest. For others in the insurance industry it seems that the saying 'a change is as good as a rest' is proving true with some major people moves this…