News
April Fool’s: No telematics deal in the pipeline for cyclists
While there may be some truth in there being a long-running battle between motorists and cyclists on Britain’s roads – it will not be solved by a telematics offering from a major motor insurer.
London market insurer WR Berkley plots regional expansion
WR Berkley Europe has revealed plans to expand its UK distribution channels via open market, online and schemes with a view to providing the firm with increased access to regional business.
Chubb appoints Barr as environment head
Chubb has appointed David Barr as European environmental manager.
Major motor insurer close to telematics deal for bicycles
A major motor insurer is close to launching a telematics offering for cyclists, in partnership with a telematics specialist, Post has learnt.
Hansen elevated to Skuld CEO
Ståle Hansen is to take over as chief executive of Skuld from 1 February 2015.
Ex-RSA director Wilkinson takes on consultancy role at Perkins Slade
Former RSA mid-market regions director Dan Wilkinson has resurfaced at independent broker Perkins Slade where he will work on a consultancy basis to support delivery of the company’s business development strategy.
Ace unveils head of life in Korea
Ace Life has appointed Young Ho Lee as the new country president to lead its life operations in Korea effective 14 April.
Gallagher completes £210m deal for Oval, claims report
The acquisition of Oval by Arthur J Gallagher has been completed with the American firm paying approximately £210m to acquire the Wakefield-based broker, according to reports this morning.
Sums insured across European windstorm markets rise by 2.3%
The total sums insured across eleven European windstorm markets increased by 2.3% on last year, according to the 2014 Perils Europe Industry Exposure Database.
Insurers urged to question use of double-handed care
Pay-outs for insurers’ personal injury claims are being inflated due to blanket policies requiring two carers being present to manually move a patient rather than one, according to a new report.
Peak Re appoints from Marsh for head of claims
Peak Re has appointed Sophia Chiu as senior vice president for claims.
XL partners with risk specialists on K&R offering
XL Group’s crisis management team now offers cover for kidnap and ransom risks partnering with risk consultancy Terra Firma Risk Management.
One third of flood victims without home insurance survey finds
One third of British adults affected by the recent UK floods don’t have insurance that protects their home from flooding, a PWC and You Gov survey has found.
LV boss O'Roarke targets home and commercial growth in 2014
LV will focus its efforts in 2014 on home and commercial insurance “where conditions are not so brutally competitive”, according to general insurance managing director John O’Roarke.
Liberty Mutual Europe CFO Prince resigns
David Prince, chief financial officer of Liberty Mutual Insurance Europe has resigned after a decade with the insurer, Post can reveal.
Ageas confirms more than 14 500 interim flood payments made
Ageas has made more than 14 500 interim payments to victims of winter flooding in the UK, chief executive Andy Watson says.
Quindell boss optimistic on swift full listing as attention turns stateside
Quindell executive chairman Rob Terry has described the early June target for a full listing on the London Stock Exchange as a “conservative estimate” and has underlined his interest in seeking a dual listing in the US.
LV posts 31% drop in GI operating profit in 2013
LV’s general insurance business saw its operating profit slashed by 31% to £81m for 2013, amid falling premium income and a decline in investment returns.
Kiln recruits from Ace for Frankfurt claims boss
Kiln has recruited from Ace for a new Frankfurt-based claims manager for the accident and health division.
Allied World launches Lloyd's MGA
Allied World Assurance Company has received approval from Lloyd's, the Prudential Regulation Authority and the Financial Conduct Authority to launch its own Lloyd's managing agenct.
Flight MH370 loss could impact war risk rates
If Malaysia Airlines' Flight MH370 is classified as a war loss, it would be one of the largest since the 2001 attacks on the World Trade Centre and would likely lead to rate to rate increases in war policies, according to S&P.
FCA to investigate commercial claims among string of new reviews
The Financial Conduct Authority is to look into the commercial claims market in one of a string of thematic reviews for the general insurance sector announced in its annual business plan today.
Climate change report forecasts increased flooding by 2080
The UK is expected to be among the countries worst hit by flooding by the 2080s, according to the fifth report by the Intergovernmental Panel on Climate Change.
Quindell outlines plans for full listing following year of soaring profits
Quindell recorded a 202% increase in profit before tax totalling £107m last year (2012: £35.4m) as the outsourcing provider plans to launch a full listing by the beginning of June.