News
Lancashire Holdings pre-tax profits fall by 36% in H1 2016
The first half of 2016 saw pre-tax profits for specialist insurer Lancashire Holdings drop from £67.5m in H1 2015 to £43.1m.
The County Group launches new headquarters as part of expansion drive
The County Group has launched its new headquarters in Crewe as part of its future expansion plans.
Elite to set up office in Luxembourg to counter Brexit fears
Gibraltar-based Elite Insurance said it will set up a new regulated insurance company in Luxembourg to ensure that it would not miss out on passporting rights following Brexit.
No further job losses planned, JLT promises staff
JLT will not be making further job cuts as a result of its restructure, deputy group CEO Mark Drummond Brady has told Post.
Sprinklers should be compulsory in new warehouses says ABI
Sprinklers should be made a legal requirement in all new warehouses over 2,000m2, the Association of British Insurers has said.
MPs call for a breakup of the FCA
A review on the possible breakup of the Financial Conduct Authority has been called for by senior MPs and the Treasury Select Committee due to ‘severe flaws’ in its past operations.
Almost a fifth of UK motorists lying to get cheaper insurance
Almost a fifth of British motorists are lying to get cheaper premiums, a study found.
Charles Taylor acquires Cega for £29.8m
Charles Taylor has acquired Cega Group, a specialist provider of technical medical assistance and travel claims management services, for £29.8m.
JLT announces 300 job cuts as part of restructuring programme
JLT today announced it has taken “decisive action” to better align costs, cutting more than 300 UK and Irish jobs within its UK Employee Benefits business as part of its restructuring programme announced in March.
Police seize 1.5 millionth uninsured vehicle
Motor Insurers’ Bureau has confirmed that the UK’s 1.5 millionth uninsured vehicle has been seized in Haringey, North London.
ERS moves to support brokers following Enterprise collapse
ERS is looking to support brokers following the Gibraltar Financial Services Commission’s action on Friday after Enterprise informed them they were insolvent.
Carole Nash announces positive results for last financial year
Broker Carole Nash has seen a 77% increase in pre-tax profits in its annual results for last year.
Howell resigns from Generali Asia
Post understands Jack Howell, regional officer for Generali Asia, has resigned.
Atrium to close Singapore office
Atrium Syndicate 609 has decided to stop accepting business on its Lloyd's Singapore platform after eight years in operation.
China still heavily underinsured for floods, says Swiss Re
China's dramatic flooding over the last month has once again highlighted the prevalence of underinsurance in the country.
LV CEO Richard Rowney appointed to ABI board
LV CEO Richard Rowney has been appointed to the board of the Association for British Insurers, to replace retiring LV CEO Mike Rogers.
Telematics data used to defend policyholder in court for first time
Telematics data has been used for the first time to successfully defend a policyholder in a liability trial at Wandsworth County Court.
Hiscox could set up EU carrier following Brexit
Hiscox could set up a separate EU registered business if the UK loses access to the common market, the company’s CEO has said.
Enterprise collapse will affect 14,000 motorists
A Zurich-owned Managing General Agent will reimburse outstanding premiums to Irish motorists who have been affected following the collapse of Enterprise Insurance on Friday.
Post People: 25 - 29 July
#Peoplemoves
Kedney appointed as chief commercial officer at Sompo Canopius
Paul Kedney has joined Sompo Canopius as chief commercial officer, from his previous role as actuarial and risk director at Aegis London.
Trak Global launches Appy Fleet and announces Tim Holliday as non-executive director
Former Zurich UK personal lines MD and chief underwriting offer Tim Holliday has joined telematics technology company Trak Global as a nonexecutive director.
Hiscox sees growth in London market
Interim results reveal Hiscox London Market grew during the first half of 2016.
Octopus Group acquisition paves the way for Verastar entry into insurance market
Verastar has acquired the Octopus group of companies in a deal that enables Verastar to enter the UK insurance broking and digital marketing sectors.