News
RSA’s Bristol office to close with jobs at risk
RSA will close its Bristol office, with up to 15 jobs put at risk of redundancy as the insurer moves to a commercial trading site.
Advertising costs and competition major deterrents to insurers entering aggregator space
Sky-rocketing advertising costs and an already competitive market have been cited as potential deterrents for any insurers considering entering the aggregator space after an Accenture report estimated 83% of UK firms were contemplating such a move.
Brightside dips toe in pet insurance market with Markerstudy
Broker Brightside will trial a pet insurance product, acting as an introducer for Purely Pets Insurance, owned by Markerstudy.
UK authorities right to flag Solvency II concerns prior to 2018 review
Wide-ranging criticism of the nascent Solvency II regime by the UK has received initial support, despite the fact that the regulatory system is little over a month old.
Slovenian insurers could see lower capital ratios under Solvency II
Capital ratios for Slovenian insurance companies could be lower under Solvency II than they were under the Solvency I regime, according to Fitch Ratings.
Tokio Marine Kiln expands Birmingham-based underwriting team
Tokio Marine Kiln has appointed Mark Bradshaw from Zurich and Owen Shelley from Aviva to underwriting roles in the Midlands.
Signal Iduna implements Friss solution for fraud detection
German insurer Signal Iduna has introduced a software solution from Friss to fight fraud in a more structured and effective way within the claims process.
Senior Ace executive Tim Mardon shot in Essex robbery
Tim Mardon, division president of Ace Tempest Re Bermuda, has been shot and wounded at his house by two armed robbers.
Towergate's Nathan takes on Primary Group role
Former Towergate Underwriting CEO Clive Nathan is to join Primary Group leading its investment in specialist underwriting and distribution across the UK and Europe.
Industry CEOs concerned by market entrants, PWC survey finds
New market entrants are seen as a threat to growth for established industry players, according to 65% of insurances CEOs surveyed by PWC.
PIB reels in Fish Insurance from Capita
PIB Insurance Brokers has made its first acquisition since The Carlyle Group’s capital injection, with the group buying specialist Fish Insurance from Capita.
MGA venture by Cunningham Lindsey gets MGAA backing
Cunningham Lindsey will support managing general agents with a new service designed to assist with regulatory requirements and back office functions, a move that has been welcomed by the Managing General Agents’ Association.
IFB joins SRA and insurer talks over 'consistent' approach to claimant firm fraud
High level discussions are taking place between the insurance industry and the Solicitors Regulation Authority towards establishing a consolidated process for submitting evidence of fraud perpetrated by claimant law firms.
Duffy named group CUO as Sompo Canopius reshuffles management
Mike Duffy has been appointed group CUO of Sompo Canopius as part of a wider reshuffle of its executive team.
Storms cost Aspen £17.8m in Q4
Aspen Insurance Holdings paid out $25.7m (£17.8m) related to UK floods in the quarter ended 31 December 2015 as it reported a combined ratio of 99.6% for the period.
LSM looks within for senior underwriting hire
Liberty Specialty Markets has promoted Mike Gosselin to chief underwriting officer for specialty.
Competition concerns spark UK government's call for Solvency II changes
Certain elements of Solvency II could be changed if concerns expressed by the UK government and regulators about the EU regime sparking anticompetitiveness are heeded.
Brexit would disadvantage SMEs' trading potential, RSA warns
Nearly three quarters of UK SMEs struggle to export beyond the European Union meaning they could be disproportionately disadvantaged if the UK votes to leave the EU in an upcoming referendum, RSA research has found.
Aon international broking revenue falls 10% to $2.76bn despite organic gains
Aon has today reported its international broking arm – which includes the UK – saw revenue fall 10% to $2.76bn (2014: $3.05bn) in 2015. A figure that jumps to 12% less currency impact.
Chubb Global Markets appoints marine team leaders
Chubb Global Markets has confirmed the appointment of Mark Edmondson and Mike Reynolds as the leaders of its marine team, with immediate effect.
Biba reveals keynote topics for Manchester 2016 conference
Brexit and terrorism threats are the topics of the opening and closing keynote debates at the British Insurance Brokers' Association's 2016 conference to be held in Manchester on 11 and 12 May.
James, Maidment and Swatman elected to Council of Lloyd's
Lloyd’s has confirmed the election of three new members to the Council of Lloyd’s.
Allied World CEO bemoans ‘challenging year’ as 2015 profits plummet
Global insurer Allied World recorded a significant fall in net income from $490.3m (£337.6m) for the full year in 2014 to $83.9m in 2015.
Flood losses caused by storms Eva and Frank hit £526m
Insured property market losses resulting from flooding caused by storms Eva and Frank in December and from further low pressure systems last month totalled £526m, according to the catastrophe insurance data firm Perils.