News
Guidewire 2017: Insurers urged to switch to live data
Insurers should look to switch from static data to live data in order to accurately track risks faced by customers.
Zurich expects commercial rates to increase
Global insurer Zurich is expecting rates to increase for commercial lines helping the firm meet its financial objectives.
Chubb establishes Asia-Pacific division to target SMEs
Global insurer Chubb has created a Singapore-based Asia-Pacific division targeted at SMEs with a focus on risk management.
Tower seeks to raise capital and focus on digital
Following a failed sale to Suncorp, New Zealand insurer Tower is looking for other ways to secure its future after a loss for full year 2017.
Nagico counts cost of hurricane season
Caribbean insurer Nagico said its gross loss from two devastating Carribean hurricanes is around $550m (£419m) but said the losses were "within" its reinsurance program.
Zoopla owner makes failed bid for Go Compare
Go Compare has rejected an offer from Zoopla owner ZPG worth roughly £460m.
Cass-Stephens acquires D Paxman Insurances
Gloucester based Cass-Stephens has acquired commercial broker D Paxman Insurances, its seventh acquisition in the last 15 years.
Direct Group claims director Russell Crewe takes Towergate role in reshuffle
Direct Group claims director Russell Crewe has taken interim responsibility for claims servicing at Towergate Underwriting.
Former Aspen head launches Chord Re MGA
Former Aspen Re head Stefan Long has launched managing general agent Chord Re, which will underwrite on behalf of Neon Syndicate 2468.
Aviva buys Irish insurer for €130m
Aviva has acquired Irish insurer Friends First in a deal worth €130m (£116m).
Generali Asia appoints head of IT
Dipak Sahoo has left Generali's Milan office to become head of IT for Italian insurer's Asia operations.
Chubb confirms leadership changes in Australia
Global insurer Chubb has finalised a restructure of senior management in Australia.
Jin swaps London for Hong Kong at XL Catlin
Global (re)insurer XL Catlin's Shiwei Jin has relocated from London to Hong Kong.
Allianz UK faces £63m Q3 blow from losses and Ogden
Allianz UK faced a combined £63m hit in the first nine months of the year from a series of large losses and the residual impact of the Ogden rate revision.
IPO to keep Sabre on existing track, CEO says
Sabre’s plans for an initial public offering will allow the group to continue its existing broker-focused strategy, CEO Geoff Carter said.
Agora receives approval to begin underwriting in 2018
Agora Syndicate 3268 has received approval from Lloyd’s to commence underwriting business from 1 January 2018.
Ex-ABI chair Paul Evans leaves Axa following restructure
Former chair of the Association of British Insurers, Paul Evans, will leave Axa following a global management restructure.
GRP-backed Alan & Thomas makes first deal
Alan & Thomas has acquired Commercial and General Insurance, its first acquisition since being bought by GRP less than two weeks ago.
Sabre aims to raise £213m through IPO next month
Motor insurer Sabre has confirmed its plans for an initial public offering next month, bringing to a close months of speculation.
China to increase life insurers' foreign ownership cap
The Chinese government has announced its intention to lift foreign ownership limits on domestic life insurers.
Peak Re approved by Monetary Authority of Singapore
Hong Kong-headquartered reinsurer Peak Re has been approved to write life and general insurance in Singapore.
80% of EU countries expect increased claims under GDPR
80% of EU jurisdictions expect compensation claims for data protection breaches to increase under the General Data Protection Regulation.
FCA broker probe ‘could benefit London insurers’
An official investigation into the wholesale insurance broker market could cut rising costs for London market insurers, Fitch Ratings said.
Allianz hit by €529m Q3 nat cat bill
Allianz has been hit with €529m (£468.1m) in losses from natural catastrophes, the company reported in its Q3 results.