News
Towergate CEO Hodges hails new "flexible debt structure" after £396m bond issue
Towergate has announced the pricing of the offering by its subsidiary, Towergate Finance, of floating rate senior secured notes due 2018 in an aggregate principal amount of £396m.
Gallagher acquires Barbon Insurance Group’s commercial and property interests
Arthur Gallagher & Co has confirmed the acquisition of all of the property and commercial businesses within the Barbon Insurance Group, for an undisclosed consideration.
Asia helps spur RSA premium growth
RSA saw net written premiums rise 5% in the first quarter of 2013 including a 16% rise across Asia, South America, Eastern Europe and the Middle East (combined) and 18% in Canada.
Markel completes acquisition of Alterra
Markel has completed the acquisition of Bermuda-based insurer and reinsurer Alterra Capital Holdings for $3bn.
EU considering action over Bangladesh building collapse
The European Union could remove certain conditions of its trade preference scheme with Bangladesh following awful building collapse incident.
HSBC sells off another Asian insurance asset
Following a series of exits from insurance companies in Asia, HSBC Insurance has now sold its stake in its joint venture in life insurer Hana HSBC Life.
Singapore continues with ERM framework
The Monetary Authority of Singapore is pressing ahead with the development of new enterprise risk management requirements for the domestic insurance industry, despite industry concerns that the proposed implementation timetable is too tight.
Tune Insurance closes in on Indonesian insurer
Tune Insurance is attempting to expand its presence in Asia through acquiring 70% of PT Batavia Mitratama.
Hong Kong companies hire private eyes over sick leave
Employment insurance premiums in Hong Kong have increased by around 20% to 30% in the past three years, making companies more wary about sick leave claims.
Allied World enters UK EL market
Swiss-based insurer and reinsurer Allied World has launched itself into the UK employers’ liability market.
EIP and Costco launch van insurance scheme to SME market
Equity Insurance Partnerships and Costco Wholesale have launched a new van insurance scheme which is designed to target Costco’s SME customer base.
ABI, Biba launch best practice telematics guidance
New guidance for insurers on pay-as-you-drive cover has been released by the Association of British Insurers and the British Insurance Brokers’ Association
Simply Business closes in on MBO as Brit CEO Cloutier admits u-turn over broker commitment
Simply Business is close to a deal which will see it separate from Brit Group through a management buyout, Postonline has learnt.
Ecclesiastical promotes Hews to group CEO role
Ecclesiastical has promoted its chief financial officer to the top of the business with immediate effect.
Qatarlyst buyer Ebix wins Ropner tech deal
Independent Lloyd’s broker Ropner Insurance Services has recruited Ebix Europe to work on its electronic accounting, endorsement and settlement capabilities.
L&G enters pet insurance market
Legal and General is to launch pet cover for cats and dogs direct, online and over the phone, as well as through Confused.com.
QBE backs manual handling campaign for construction
QBE has lent its support to an initiative from charity Backcare and manual handling experts Pristine Condition to reduce injuries in the construction industry.
UIB to place SulAmérica property treaty programme
Lloyd's reinsurance broker UIB has won the tender to place the property treaty programme for Brazilian insurer SulAmérica.
Industry and consumers targeted in two-part telematics guide
The Association of British Insurers and the British Insurance Brokers’ Association have teamed up to produce guidance for the industry and consumers on how to get the most out of telematics technology.
Prosight appoints leisure and hospitality underwriters
Prosight has appointed Peter Lodge and Stephen Kiedish as underwriters in the newly formed leisure and hospitality teams.
Bike aggregator boss banned for eight years
Alexis Jon Stone, director of the motor insurance comparison website Bike Insurer Services, has been disqualified for eight years after The Insolvency Service found he had paid himself or his American company ahead of other creditors.
Ageas agrees out of court settlement with ex-Castle Cover shareholders
Ageas has confirmed it has reached an out of court settlement with a number of former senior Castle Cover figures.
Markel records COR boost
Markel Corporation has announced a 9% improvement in its combined operating ratio for the first quarter of 2013.
Cooter targeting brokers in Covéa commercial lines relaunch
Covéa is planning to corner the difficult commercial lines market by winning over brokers through building closer relationships.