News
Brightside boss Holman eyes up employee benefits offering
Newly appointed Brightside boss Martyn Holman, pictured, has announced plans to start reviewing the business in the next two weeks and potentially enter new lines including employee benefits.
Delisting ambitious Brightside is easier to do as an outsider, says ex-CEO
Arron Banks, pictured, has said it would have been "troublesome" to delist the broker and subsequently fulfil ambitious growth plans while still working at the business.
RSA renews Clydesdale and Yorkshire banks partnership
RSA has announced the renewal of its partnership with Clydesdale and Yorkshire banks for a further five years.
Grupo Catalana Occidente enters motor insurance top five after Groupama swoop
Grupo Catalana Occidente and INOCSA have signed a binding purchase agreement to acquire Groupama Seguros y Reaseguros SAU, Groupama's Spanish subsidiary.
One Answer Network to launch commercial and personal lines IT platform for brokers
Broker organisation One Answer Network is launching an IT platform in the fourth quarter which will allow members to trade personal and commercial lines products.
Groupama reaches agreement to sell Spanish arm
Groupama is to sell its Spanish operation to Catalana Occidente in a deal worth €404.5m (£326.3m).
ABI backs government plans to reform executive pay
The Association of British Insurers has welcomed the government's "practical and workable" plans to tackle excessive executive pay.
Giles appoints Lewis as healthcare director
Giles is back on the recruitment trail after announcing the appointment of Paul Lewis as director in its recently launched healthcare team.
US Lockton chairman jets into Birmingham for office opening
David Lockton has touched down in Birmingham to officially open the global broker's new offices in the city centre, as part of the firm's expansion in the region.
Insurers less exposed than banks to potential Greek euro exit
Insurance companies are less exposed than banks to contagion risk triggered by a Greek exit from the Eurozone because of an ability to share losses with policyholders and a lower reliance on short-term funding, according to Fitch.
Canopius snaps up Brit underwriting director Dilley
Canopius has announced the appointment of former Brit London underwriting director Paul Dilley, pictured, who joins as head of underwriting for UK retail.
Iranian firms ready to fill oil cover void, says regulator
Iranian insurance companies are ready to offer cover to allow foreign tankers to continue shipping oil after a European Union ban comes into effect next month, the semi-official Fars news agency reported on Tuesday.
Majority of UK motorists put off by 'complicated' claims process
More than half of UK motorists surveyed by InterResolve are dissuaded from making a legitimate claim because of a complicated claims process.
Insurers change approach to calculating capital ahead of Solvency II
As European insurers continue their Solvency II preparations many are changing their approach to calculating capital adequacy requirements, according to Deloitte.
EU insurers to bounce back from possible Greek euro exit
The European insurance sector should be able to absorb shocks arising from a hypothetical Greek exit from the euro, provided the exit was orderly.
European insurers able to withstand orderly Greek exit from euro
Europe's insurance industry should be able to absorb shocks arising from a hypothetical Greek exit from the euro, provided such an exit were orderly, Fitch said in a new report.
Insurer approach to Solvency II is more 'sophisticated', report finds
Insurers have upped the ante in their preparation for Solvency II with 60% increasing the sophistication of their approach.
Barnett Waddingham hires Solvency II boss
Actuary Barnett Waddingham has appointed Cameron Heath to lead the expansion of the firm's Solvency II offering within its insurance consulting practice.
M&A companies face 90% chance of being sued
There is a 90% chance that a company targeted for acquisition will be sued by its shareholders, yet few businesses document M&A protocols and do not plan to develop them over the next year.
Business boomed for RiIG in 2011, AGM told
Claims management company Resources in Insurance Group has told its Annual General Meeting attendees that the business has witnessed increasing levels of activity in the backdrop of the wet weather.
Holman succeeds Banks at Brightside
Arron Banks has resigned as chief executive of Brightside Group.
Multinationals jostle for acquisitions in south east Asia
The fight for a piece of south east Asia's insurance market is heating up as AIA Group, Manulife and Prudential PLC compete for mid-size acquisitions in the region totalling up to $1bn, according to a report by Reuters.
Insurers starting to embrace change but still a way to go, says PwC
PwC's global insurance leader outlined what successful insurers of the future could look like, and discussed the forces re-shaping the insurance sector, when he spoke at the 2012 International Insurance Society Seminar in Rio de Janeiro today.
FSA kept budget spending down, annual report reveals
The Financial Services Authority deliberately underspent on its annual budget as it was “very conscious of the need to control costs, particularly given the difficult environment that firms are operating in”.