News
Insurance Technology Awards 2013: Five days to go until entry D-day
There are now just five days to go until entries close for the Insurance Technology Awards 2013.
Lancashire shareholders back Cathedral buy
A £266m acquisition of Cathedral Capital looks set to go ahead after shareholders of Lancashire Group voted overwhelmingly in favour of the deal.
Capita puts insurance business up for sale
Outsourcing specialist Capita is preparing to offload its direct to customer insurance businesses following disappointing performance in the division, Post understands.
Gard eyes reinsurance opportunities in Brazil as it secures license
Gard is seeking to establish itself in the Brazilian reinsurance market after securing a licence to write that line of business in the Latin American country.
Xchanging pilot boosts RSA capital efficiency 80%
RSA has seen its capital efficiency soar after entering into a pilot programme with Xchanging’s Netsett net settlement platform.
Allianz distances itself from blue-chip hacking scandal
Allianz UK has sought to distance itself from the so-called blue-chip hacking scandal after The Times named the insurer as one of the organisations on the list of firms who used rogue private investigators.
Pinsent Masons makes senior hires from Clyde & Co
Pinsent Masons has appointed Manoj Vaghela as partner and Chamika Hand as legal director in its insurance group. Both Vaghela and Hand join from Clyde & Co.
Ex-Axa director Hector to lead Covéa's southern operation
Covéa Insurance has appointed Keith Hector to the newly created position of head of regions for the south.
FCA warns against policy from unlicensed New Zealand insurer
The Financial Conduct Authority has found a home insurance policy from an unlicensed New Zealand insurer has been sold to UK consumers through an authorised general insurance intermediary.
Absolute strengthens team with police hires
Absolute Partnership has hired a new external investigation team of former police detectives, following the recent budget costs to the police force.
Aon Benfield research finds 32 markets have COR below 100%
Aon Benfield research has found 32 of the top 50 markets have a five year combined ratio under 100% while the EMEA area leads the way regionally with a COR of 98% overall.
Capital influx could displace traditional equity capital - Willis Re
The influx of third-party capital into the reinsurance market may displace up to $40bn (£25.5bn) of traditional equity capital, which could either be returned to shareholders or redeployed elsewhere in the reinsurance market, according to Willis Re.
Xchanging looks to grow US presence
Technology business Xchanging is looking to grow its presence in the US, executive director Adrian Guttridge has revealed.
$100bn of reinsurance capital to enter market, says Aon Benfield
Aon Benfield has said insurers and reinsurers will benefit from $100bn of alternative capital that will enter the reinsurance market over the next five years.
Chen to chair Zurich's China business
Johnny Chen is to switch roles at Zurich from CEO of Asia-Pacific to chairman of Zurich's life and general insurance business in China.
AIG reviews legal panel
AIG is set to kick off a review of its external legal advisers across the Asia-Pacific region, as the insurance giant sizes up a potential merger of its corporate and claims panels.
Ping An increases stake in bank
Ping An has said it plans to raise its stake to almost 60% in Ping An Bank for a cost of 14.8bn yuan ($2.4bn).
Woods appointed co-chairman of GC's mutual company specialty practice
Guy Carpenter & Company has appointed that John “Jay” Woods as co-chairman of the recently formed mutual company specialty practice.
Soca refuses to publish list of firms who used rogue PIs
The Serious Organised Crime Agency has declined to comply with the Home Affairs Select Committee’s request to make public the list of 102 blue-chip firms that used rogue private investigators.
615 uninsured vehicles seized by police in clampdown
More than 600 uninsured vehicles were seized over two days in London this week as the Metropolitan Police targeted motorists.
Three GI players in the frame as FCA launches complaints handling review
Three general insurance firms are implicated in the Financial Conduct Authority's latest thematic review into complaints handling at major firms.
Kennedys strengthens Latin America presence with Colombian association
Kennedys has increased its reach into Latin America by joining forces with Bogota-based insurance law firm Botero Salazar Tobón & Abogados.
FCA reveals it has never used private investigators
The Financial Conduct Authority has revealed it has never used private investigators.
RSA launches broker trading site
RSA yesterday launched its first broker trading site in Redhill, designed to give its most valued brokers the flexibility of trading face-to-face for complex risks.