News
NIG puts 71 roles at risk in offshoring move
Commercial insurer NIG is shrinking staff numbers at its Bristol and Manchester underwriting centres as part of an offshoring move, Post can reveal.
Beale challenges Carney on SII investment weightings
Lloyd's CEO Inga Beale has hinted the Bank of England should consider different capital weightings under the Solvency II regime depending on what a company's investment policy is.
Flood Re completes exec team with hires from Pro Sight and Pen
Flood Re has completed its executive team with the appointment Harriet Boughton as its general counsel and Karen Clautour as head of operations.
Hyperion to focus on organic growth in 2016, says Howden
The main focus for Hyperion Insurance Group this year will be primarily on organic growth following a flurry of deal-making in 2015, according to CEO David Howden.
Night-time curfews for young drivers to be introduced in Northern Ireland
A comprehensive package of new measures to improve road safety has been passed by the Northern Ireland Assembly that includes night restrictions on young drivers carrying passengers.
Home insurance fraudster handed suspended sentence
A 37-year-old man who made a fraudulent claim for £34,000 worth of items on his LV home insurance policy has been given a suspended jail sentence following an Insurance Fraud Enforcement Department investigation.
Hyperion eschews 2015 dividend as RKH deal fuels £81.4m accounting loss
Hyperion will report an International Financial Reporting Standards accounting loss of £81.4m for 2015 as a result of expenses such as that associated with the acquisition of RKH.
BI remains top global risk while cyber is UK's biggest threat
Business interruption is the top global risk for the fourth year running, according to the Allianz Risk Barometer 2016, with cyber attacks, geo-political instability and technology failure identified as new possible drivers of BI losses.
Gallagher completes NED line-up with Coldman capture
Arthur J Gallagher has appointed John Coldman as a non-executive director, subject to regulatory approval.
AIG strategy failing to win support among majority of investors
Only a small minority of shareholders back AIG’s present strategy amid pressure from activists such as Carl Icahn for a change to the insurer’s approach, according to a poll by investment management firm Bernstein.
Insurers encouraged to improve claims experience as poll highlights delays
More than two in five (41%) motor and home insurance customers have suffered delays and problems when making claims, according to research by Consumer Intelligence.
Businesses are paying later in China but economy is resilient, says Euler Hermes
Credit insurer Euler Hermes believes domestic consumption in China will support the economy but volatility is delaying business payments.
Ironshore's Pembroke to open in Shanghai
Ironshore is to open an office in Shanghai for its Pembroke Managing Agency to join Lloyd's China platform this month.
Business interruption from cyber attacks a growing concern, says AGCS
Business interruption is the top risk globally for the fourth year in succession according to Allianz's Risk Barometer 2016 - an annual survey of risk managers.
Swiss Re appoints new UK & Ireland CEO
Swiss Re has appointed Frank O'Neill as CEO of its UK and Ireland operations, effective immediately.
Aviva faces Tulloch successor conundrum
With Aviva's well-regarded UK general insurance CEO Maurice Tulloch stepping down to focus on a global role within the insurer, speculation is mounting as to which direction the company will take in naming a successor.
RSA reaches out-of-court settlement with former Irish CEO Smith
RSA has reached an out-of-court settlement with the former CEO of its Irish operation Philip Smith.
Market Moves - 14 January 2016
The industry moves continue to come thick and fast as 2016 gets underway...
Right Choice buys three breakdown brands from ERS
Right Choice Insurance Brokers has acquired three motor breakdown insurance brands from ERS resulting in the transfer of approximately 150,000 vehicles and customers insuring under the Autonational, Auto Aid and Eurorescue brands.
Generali unveils extended business risk analysis advisory solution
Generali has launched an advisory solution providing support in business risk analysis to its corporate clients, which has also been extended to franchised businesses.
Acromas offloads tax losses to Saga for £7.65m
Over-50s insurer Saga is to acquire tax losses from Acromas SPC Co and Acromas Mid Co - a 31.5% shareholder in Saga, worth £15.3m, according to a Saga trading statement.
Pre-April renewal flood victims facing hiked household premiums
Flood victims who are due to renew their household insurance policy before the April introduction of Flood Re will be faced with inflated premiums, amid widespread rate reductions elsewhere.
DLG predicts up to £140m in flood losses
Losses incurred by Direct Line Group following flooding caused by the storms Desmond, Eva and Frank during December are expected to total between £110m and £140m.
MSIG explores telematics in Singapore with trial
MSIG is looking for drivers to participate in a six month study to analyse driver behaviour in Singapore.