News
RKH Specialty draws up surety plans following PMG acquisition
Hyperion Insurance Group has acquired independent specialist surety broker PMG Financial Services, subject to regulatory approval.
Cobra eyes further deals following purchase of Croydon broker
Cobra Holdings has acquired Croydon-based independent commercial broker Robert Edward Southern.
'Big player' Bailey backed by industry as FCA CEO
The appointment of the Prudential Regulation Authority’s highly regarded CEO Andrew Bailey to the top job at the Financial Conduct Authority has been welcomed by industry leaders who have praised Bailey’s clout and “deep regulatory experience”.
IUA to poll members on EU membership as 2016 agenda is unveiled
Market modernisation projects and an increase in the international services offered to the London company market are among the top priorities for the International Underwriting Association in 2016.
FCA appoints PRA's Bailey as CEO
The Financial Conduct Authority has a new CEO with HM Treasury appointing Prudential Regulation Authority boss Andrew Bailey to the role.
Coram joins DAS as director of customer operations and IT
DAS UK Group has appointed Tony Coram as its new group director of customer operations and IT.
Broker Network unveils debut members only scheme
Broker Network has launched its first member scheme, which is backed by Pro Sight Specialty Underwriting syndicate 1110 at Lloyd’s.
Axa begins publishing claims statistics for individual products
Axa has begun publishing claims statistics for its individual products in a bid to improve customer trust via increased transparency.
99% of motor claims are paid out, says ABI
Figures published by the Association of British Insurers for the first time will show 99% of motor claims were paid out in 2013 and 2014 but one in five household claims were declined.
Six reinsurers apply for licenses in India
The Insurance Regulatory Development Authority of India has confirmed six foreign reinsurers have applied to open branches in the country.
Australia's brokers exempt from financial adviser training
Insurance brokers are exempt from new government training requirements for financial advisers in Australia.
Career Development: Digital future for training
I-COG Claims Management has launched an online training course for claims managers, developed for the UK insurance industry but available worldwide.
Career Development: Sterling service at Covéa Insurance
Reading-based Covéa Insurance saw high scores in customer satisfaction and likelihood to refer following a survey by the Institute of Customer Service.
Hubbard to exit UK General
UK General group CEO Peter Hubbard is to step down from his role in February, the company has confirmed.
Executive reshuffle at RSA as Derek Walsh departs
RSA group general counsel, company secretary and global broker relationship director Derek Walsh is to step down at the end of February, leading to a reshuffle of the insurer’s executive team.
Unified Covéa and Sterling teams develop executive motor product
Covéa has launched a motor product aimed at mid to high net worth customers wanting to insure between two and 10 cars.
Regulation tops list of insurer concerns, according to brokers
The majority of brokers believe regulation poses the biggest threat to their insurer partners, according to a study carried out by information management firm EDM Group.
Divestments expected from AIG in strategic statement
AIG CEO Peter Hancock is expected to outline his strategy for the company including support for divesting non-core parts of the business in a live webcast tomorrow (26 January), reports claim.
Paul Baker to buy fellow park home insurance firm RK Shipman
Newly launched park and leisure home insurance specialist Paul Baker Insurance Services is acquiring fellow park home insurance firm RK Shipman.
Allianz to ditch condition of average for underinsured SMEs
Allianz will remove the use of averages for SMEs that are underinsured despite recognising such a move could affect its trading results, the insurer announced among other measures today (25 January).
Assets at China's insurers climb to £255bn
Premium income at China's insurers climbed to 2.4trn yuan (£255bn) in 2015 - an increase of 20% over 2014.
Chubb appoints three country presidents in Asia
Following the completion of the acquisition of Chubb by Ace the merged company, named Chubb, has announced three more senior appointments in Asia.
New Zealand's insurers upset over fire service levy review
The Insurance Council of New Zealand wants the government to change the rules on an insurance levy for the industry which funds over 90% of the fire service.
South Korea pens $2bn financing deal with Iran
South Korea has agreed a $2bn (£1.4bn) contract with Iran for trade insurance financing.