News
SME flood cover in doubt as Biba battles for its inclusion in Flood Re
Industry-backed affordable flood insurance was never intended to cover small businesses, according to the Association of British Insurers.
Willis weeks away from major deals with London market insurers
Plans by Willis to launch a scheme similar in structure to the deal that saw Aon team up with Berkshire Hathaway come amid criticism of such arrangements.
Talanx achieves 10% increase in GWP in H1
German insurance giant Talanx Group achieved a 10% increase in gross written premiums in the first half of 2013 to €15bn.
Motor sector cites rates and reforms as COR soars
Motor insurers have bemoaned the impact of rock-bottom rates on their first-half figures, prompting some industry leaders to rule out further rate reductions in the second half of the year.
FCA denies review was sparked by broker’s remuneration issues
The Financial Conduct Authority has distanced itself from claims its thematic review into brokers’ conflicts of interest was triggered by an investigation into a broker that revealed issues with its remuneration practices.
Chaucer swoops for Travelers marine specialist
Lloyd’s specialist insurer Chaucer has recruited Travelers’ senior UK marine underwriter.
Market fears unrated insurers could take advantage as XL cuts solicitors’ PI book
XL’s withdrawal from the solicitors’ professional indemnity market for smaller firms has sparked fears that some companies could be pushed further into the arms of unrated carriers.
Groupama sells Soc Gen stake
Groupama has sold its remaining 1.86% stake in Societe General for €517.8m (£445.2m).
Bluefin names former Biba boss Galbraith as non-exec
Axa-owned broker Bluefin has recruited the former chief executive of the British Insurance Brokers’ Association as a non-executive director.
Fraudsters should dodge jail says Howard League
The UK’s oldest penal reform charity has today claimed that prison should be reserved for the most serious crimes, with property offences such as theft and burglary excluded.
Chinese life insurers 'need to improve risk management'
According to a survey by Towers Watson more work is needed by Chinese life insurers to improve risk management.
Offices close across Hong Kong as typhoon watch 8 is raised
The Hong Kong Observatory raised typhoon watch 8 in the early hours of Wednesday morning as Typhoon Utor headed across the South China Sea. However, as of 2pm the storm Hong Kong time the signal was downgraded to T3 meaning people would be heading back…
South makes Asia senior team promotions at Marsh
Martin South, chief executive officer of Marsh Asia-Pacific, has promoted several key staff in positions across Asia.
Ecclesiastical awarded chartered insurer status
Specialist insurer Ecclesiastical has today been handed chartered status for its entire UK operation by the Chartered Insurance Institute.
XL leader moving to Sydney office
XL Group senior client and distribution leader Jonathan Mead is moving to the company’s Sydney office for a new role.
Month extension for Markerstudy’s Brightside bid
The deadline for a bid by Gibraltar-based motor insurer Markerstudy to take over Brightside has been extended to 10 September, a statement to the London Stock Exchange has confirmed.
Aon expands NFL partnership
Aon is to expand its partnership with America’s National Football League.
CVC to acquire D&G in partnership with existing management team
CVC Partners is to acquire household appliance insurer Domestic & General Group in partnership with the existing management team.
XL set to slash solicitors' PI market share
XL has confirmed it will “significantly reduce” its market share in the solicitors' professional indemnity market in the upcoming renewal season.
MIB denies reports it instructed private eyes on injured teenager claim
The Motor Insurers’ Bureau has vigorously denied allegations made by a number of national newspapers that it engaged the services of private investigators to ‘blag’ employment histories, benefit and telephone records of an injured teenager and her…
Markel takes more space in Walkie Talkie after Alterra acquisition
Markel International has finalised terms to pre-let additional space in 20 Fenchurch Street or the 'Walkie Talkie' building after completing its acquisition of Alterra.
AIA appoints Teow in agency role
AIA Group has appointed Patrick Teow to the position of CEO, group agency distribution.
Kerry London marks Lloyd's accreditation with MD hire
The accreditation of Kerry London as a Lloyd’s broker has coincided with the appointment of Marsh’s Nick Pay as managing director.
Peak Re makes gains at renewal season
Hong Kong-based reinsurer Peak Re said it welcomed a good 1 July renewal season in the Asia-Pacific region.