News
Green promoted to FCA GI director
The Financial Conduct Authority has promoted Simon Green to director of general insurance and protection.
Xchanging sees £65.6m drop in net revenue
Net revenue at business processing provider Xchanging dropped to £205.1m in the first half of 2014 down from £270.7m in the same period for 2013.
XL's Sharp moves to Asia as food scandals rock global brands
Ben Sharp, a product recall underwriter at insurer XL, has relocated to Singapore from London as appetite for the product increases.
Aon appoints chief information officer
International broker Aon has named John Bruno as chief information officer and executive vice president of enterprise innovation.
Independent oversight body formed in Australia
In Australia a new independent body has been created that will oversee the revised General Insurance Code of Practice.
RSA hands Motability reins to South director Gibbs
RSA has named its regions South boss Rob Gibbs as its new director for RSA Motability as part of a commercial lines reshuffle.
Government's 2015 driverless car target 'ambitious' says Thatcham
News that the UK Government has pledged £10m to help fund public road trials of driverless cars has been welcomed by the insurance industry’s motor research centre Thatcham.
Willis drops contingent commission ban
Broking giant Willis has confirmed that it will drop a ban on taking contingent commissions, just over two years after initially accepting the payments in its employee benefits arm.
UN aviation body launches review into risks to commercial carriers
The International Civil Aviation Organization has established a senior-level task force composed of state and industry experts to address civil aviation and national security in the wake of the downing of Malaysia Airlines flight MH17.
Competition watchdog weighs credit hire cap U-turn
The Competition and Markets Authority is considering back-tracking on proposals to enforce a cap on the cost of replacement vehicles to non-fault motor insurance claimants.
Flood Re cap will not limit scheme's ability to pay out, claims ABI
The Association of British Insurers has criticised ratings agency Moody's for its report on the regulatory arrangements for Flood Re saying its £100m cap will have no impact on the scheme's ability to pay flood claims to insurers.
Interim Zurich UK GI CEO Dave Smith to retire in April 2015
Zurich’s interim UK general insurance chief executive Dave Smith has agreed to extend his temporary tenure at the business ahead of retiring in April next year.
Study finds 'significant demand' for telematics among older drivers
Insurers focusing telematics products solely on young drivers are overlooking a sizeable untapped older driver market, according to software provider SSP.
Crawford completes Buckley Scott buy
Loss adjusting giant Crawford has acquired construction and engineering specialist Buckley Scott, Post can reveal.
Legal bodies slam SRA minimum terms manoeuvre
Several members of the legal fraternity have written to the Legal Services Board urging it to reject the Solicitors Regulation Authority’s proposal to cut to the minimum limit for solicitors' professional indemnity cover to £500 000.
Gallagher Q2 broking revenues up 34%
Arthur J Gallagher has reported group-wide broking revenues climbing by more than a third on a year-on-year basis for Q2.
Zhang takes up Canopius China role
Specialty insurer and reinsurer Canopius has appointed Shibo Zhang as head of China market.
UK Government offers £10m for driverless car road trials
The UK Government has offered a pot of £10m to help fund public road trials of driverless cars in up to three cities from January 2015.
Money Supermarket sees 4% revenue growth for insurance site
Money Supermarket has reported a 4% increase in revenue for its insurance division in H1 2014 to £68.1m (2013: £65.5m).
Willis posts 5.1% revenue increase in Q2 despite UK retail decline
Willis posted a 5.1% increase in revenues, including commissions and fees, investment income and other income to $935m (£552m) in the second quarter of 2014.
Markel applies for trade credit license in Dubai
Specialist insurer Markel is hoping to receive a license to offer trade credit insurance in Dubai by the end of 2014.
JLT growing strongly in Asia
In the first half of the year revenue at JLT Asia's risk and insurance portfolio grew 9% while its employee benefits book climbed 35%.
Industry defends removal of delayed settlement clauses from Insurance Bill
Plans to allow business claimants to seek redress after delays may yet be restored
International insurers’ London presence to diminish amid increased competition
Analysts expect other firms to follow in Beazley’s footsteps by looking elsewhere