News
CCV completes three regional acquisitions
Callum Capital Ventures has acquired Underwood Insurance Services; Dale Insurance Services and Brighton Insurance (Brokers) Group, bringing the total number made by its parent firm Towergate, to 11 since the start of 2013.
Downward pressure on reinsurance rates to continue
Reinsurance market rates on line will continue to be driven by an influx of capital from third-party investors at the July 1 renewals, according to a report by Guy Carpenter & Company.
LMA unveils new binding authority agreements
The Loyd's Market Association has reduced the number of wordings of binding authority agreements from nine to three, following a following an 18-month long review.
Axa finds business crimes down 14%
Crimes committed against UK business fell after two years of consecutive increases according to figures released by Axa today.
Martyn Hall takes on QBE's Fast Flow
Martyn Hall has been appointed underwriting manager for QBE’s Fast Flow business.
Premier Choice CEO Izzard passes away
Mike Izzard, chief executive of healthcare intermediary Premier Choice Group and former president of the Association of Medical Insurance Intermediaries, has died.
Competition Commission finds evidence of over-costing in the motor insurance market
The Competition Commission has found evidence that the separation of cost liability and cost control in the provision of post-accident services to non-fault motor claimants is pushing repair costs up.
Ancile founder launches Medical Travel Compared
The man behind travel insurer Ancile have launched a new price comparison site on travel cover for people with pre-existing conditions.
Broker network INSIA opens first of 50 offices in Romania
INSIA, one of the largest insurance broker network of Central and Eastern Europe, has opened its first Romanian-based subsidiary, in Bucharest.
Xuber increases global workforce by 25%
Xuber, Xchanging’s insurance software business, is continuing its expansion with an international recruitment drive.
UK Flood Re deal will be 'credit positive' for P&C players
Moody’s claims that the memorandum of understanding between the Association of British Insurers and the government on introducing the Flood Re model will be credit positive for UK property and casualty insurers.
London market veteran named political risks manager at Antares
Lloyd’s insurer Antares has appointed David Wright as political risks manager of its political and financial risks specialty lines portfolio.
UK Government will help out if Flood Re pot “runs out”
The UK insurance industry will not be responsible for recapitalising Flood Re in the event that it “runs out of money”, the Association of British Insurers has confirmed.
EPG to cover South Africa and other African territories
EPG Insurance Services is extending its administration base to cover South Africa and other African territories.
Tysers acquires construction broker
Tysers has acquired a stake in construction broker MLW & Associates, in a move to expand its construction liability business.
Antares hires ex-AIG CEO Sullivan as non-executive chairman
Antares Managing Agency has appointed Martin Sullivan as non-executive chairman.
Crawford appoints Chen as general manager for Taipei
Crawford & Company has appointed Dr Leo Chen as general manager at its Taipei office.
Ping An closes puchase of Lloyd’s building for £260m
The Lloyd’s building has been sold by present owner Commerz Real to a Chinese insurer in a deal worth £260m.
Losses from European floods could hit £4.5bn
Industry-wide insured losses on recent flooding in central and eastern Europe is expected to hit between $3.5bn (£2.4bn) and $4.5bn (£3bn), according to estimates by Swiss Re.
AGCS UK hires senior cargo underwriter
Allianz Global Corporate & Specialty has appointed Paul Crawford as senior cargo underwriter.
Flood Re deal will be 'credit positive' for P&C players, says Moody's
Ratings agency Moody’s claims that the memorandum of understanding between the Association of British Insurers and the government on introducing the Flood Re model will be credit positive for UK property and casualty insurers.
Hiscox claims market first with anti-bribery product
Hiscox has launched an anti-bribery response, defence and expense insurance product for UK businesses in what it claims to be the first for the market.
Automatic policy renewals come under FCA scrutiny
Increased premiums on automatic policy renewals are to come under the spotlight, the Financial Conduct Authority has said in a letter to lawmakers.
Insurers braced for losses after Canada train derailment
Insurers are facing further losses in Canada after a freight train carrying crude oil exploded in the middle of a small Canadian town.