News
Geneva Association appoints actuarial science specialist
Global insurance think tank, The Geneva Association, has appointed Illinois state university Professor, Krzysztof Ostaszewski, as the research director of its life and pensions programme.
Marsh appoints Bill Pieroni as COO
Marsh has named State Farm’s Bill Pieroni as chief operating officer from 19 September.
Flat rates expected in Europe after Monte Carlo meet
Securities and investment banking firm Jefferies anticipates flat rates for Europe next year.
Market moves: Bucking the trend for UK employment
With September in full swing, announcements of moves around the market are arriving thick and fast. After the dearth of recruitment news in August, disciplines across the industry spectrum appear busy luring expertise from competitors, promoting from…
JLT to poach staff from top brokers
JLT boss Dominic Burke has declared open season on poaching top staff from rival firms after a £166m investment from its 30-year backer Jardine Matheson.
Helvetia sells health and accident portfolio
Helvetia Switzerland is divesting itself of its health and accident portfolio.
MYI and Airclaims merge to enhance position in aviation
Loss adjuster McLarens Young International has merged with Airclaims to enhance its position in the aviation market.
Greek government issues second IPT penalty amnesty
The Greek parliament has passed a law that includes a further amnesty provision on penalties for insurance premium tax.
CQS and Lexcel firms secure PII package
CQS and Lexcel firms has today unveiled a new scheme alongside PII broker Hera Indemnity to offer accredited firms the opportunity to reduce their premiums through a panel of qualifying insurers.
AM Best receives European credit approval
AM Best Europe has received formal notice of registration as an approved European credit rating agency under the Credit Rating Regulatory Regime of the European Union.
Willis names new Argentina chief
Broker giant Willis has promoted its Latin America group regional placement officer Seth Peller to be CEO of Willis Argentina, based in Buenos Aires.
RSA launches campaign to change eyesight testing
RSA bosses are calling for sweeping changes to the process behind how driver’s eyesight is tested following the launch of a nationwide campaign to see if motorists are ‘Fit to Drive’.
Industry associations back Government regulation reform
Insurance and broker associations have welcomed the Government’s proposed regulatory reforms in their consultation responses. However, they have also expressed concern its plans could be too “ambitious” and potentially cause delays.
Claims rise as landlords cut maintenance budgets
The proportion of claims made for avoidable incidents such as leaks, burst pipes, frost damage and general wear and tear has increased by 5% since 2008 as tight budgets hit property maintenance by landlords.
Brightside’s H1 pre-tax profit up 80%
Broking group Brightside has reported half-year revenue up 50% to £39.8m (2010: £26.6m) and pre-tax profit up 80% to £7.2m (2010: £4.0m) on the back of its buyout of eCar and eBike.
Jardine Matheson increases JLT stake
Broker Jardine Lloyd Thompson has said its London-listed, Bermuda registered, Chinese founded backer Jardine Matheson is to take an extra 10% of the company for £166.27m.
RBSI partners with Coutts
Royal Bank of Scotland Insurance has landed its first affinity partnership with private bank and wealth manager, Coutts, following the launch of Select from Direct Line this year.
Website review: Castle Cover
Web performance specialist Gomez looks at Castle Cover’s website.
Colosso and Barr leave Gallagher Heath as Hodges starts new role early
A week of departures and early arrivals within the broking community has resulted in former Heath Lambert bosses Adrian Colosso and Graham Barr leaving Gallagher Heath, while ex-Aviva UK CEO Mark Hodges has started work at Towergate earlier than expected.
Loss adjuster hit with year-long jail term for £18 500 Zurich theft
A loss adjuster has been sentenced to a year in prison for theft and deception, owing insurer Zurich up to £18 500.
MoJ to split referral ban enforcement role between industry regulators
The Ministry of Justice has confirmed the government’s proposed ban on referral fees is likely not to be centrally administered, but instead enforced by a collection of disparate regulatory authorities.
Editor's comment: The devil is in the detail
Just when consensus was building across the insurance industry that banning referral fees alone will not cure the UK civil litigation system of all its perceived ills, reduce car insurance premiums, or single-handedly wipe out personal injury claims…
Mooted HSBC GI sale a sign of the times
HSBC’s mooted plan to sell its general insurance arm is part of a growing trend of banks “retrenching”, according to an analyst.
Penny speed meets... Andy Miller, CEO of Brokerbility Information Gateway.
Being an insatiable socialite, Penny Black is always eager to probe the personalities behind the professional veneer of her industry friends. What better way to squeeze in and share as many intimate revelations as possible than her very own ‘speed…