News
Market moves: New faces in the broker space
This week saw a flurry of moves in the broking sector, with both Lorica and Alan & Thomas brining in several new faces.
Bartlett & Company becomes Lloyd's broker
Bartlett & Company has today announced its new position as a registered Lloyd’s broker.
RBSI appoints former British Gas rebranding guru
Rick Vlemmiks is set to join RBS Insurance as chief marketing officer, UK & International.
Aspen Risk Management gains chartered insurers status
Aspen Risk Management has been awarded corporate chartered insurers status by the Chartered Insurance Institute.
Omega goes quiet on sale talks
Lloyd’s insurer Omega is refusing to comment on speculation that sale plans are on the backburner.
Names protest group calls for Lloyd's meeting over Equity censure
A Names protest group that was burdened with losses from Equity Syndicate’s 2007 account is seeking a meeting with the Lloyd’s Enforcement Board to discuss the findings of its investigation.
Mixed 2012 renewals for global reinsurance market
The 1 January 2012 renewals saw a shift in industry behaviour as both insurers and reinsurers implemented more sophisticated, customised approaches to risk assessment and mitigation, according to Guy Carpenter.
Cyber threat poses huge global risks
Fiscal problems, global connectivity and demographic shifts pose the biggest risks in the next few years, according to the World Economic forum’s 2012 Global Risks report.
Colosso exits Gallaghers amid growth-driven exec restructure
Arthur J Gallagher International has confirmed that Adrian Colosso, chief executive of UK Retail and former CEO of Heath Lambert prior to its acquisition, will not return to the business following his sabbatical, as it unveiled a new-look executive team…
Gallaghers confirms Canopius underwriting move
The CEO of AJ Gallagher International has confirmed a team from Canopius’ UK underwriting division is set to join the broker, hailing it a “massive step” for OIM Underwriting.
XL merges property and asset protection divisions
XL Group has combined its property underwriting and XL Global Asset Protection Services to form one unified team of risk engineers worldwide.
XL announces in-house underwriting and engineering merger
XL Group has combined its property underwriting team and global asset protection services engineers to form a unified international team of almost 200 risk engineers.
Guy Carpenter renewals report identifies shift in industry behaviour
The position by reinsurers to undertake a major review of pricing and underwriting heading into renewal season has led to “significant market fragmentation and increased volatility”, according to Guy Carpenter’s 2012 global reinsurance outlook.
Lloyd's coverholder appoints ex-Chartis VP to launch French arm
Equinox Global, an approved Lloyd’s cover holder specialist in trade credit insurance, has appointed Alban De Malherbe to launch a French office.
Cooper Gay expands marine reinsurance team
Lloyd’s broker Cooper Gay & Co has appointed John Sullivan as a director of its reinsurance division.
Lifestyle Services Group names new CEO
Lifestyle Services Group has appointed Chris Harrison as CEO.
Deloitte predicts household premium rises of up to 10% in 2012
Household insurance premiums are likely to rise between five and 10% in 2012, according to Deloitte.
RSA Swedish reserving not an issue according to analyst note
There is no clear evidence of under-reserving at RSA, according to analyst Jefferies despite the fact in Scandinavian this remains inherently volatile.
UK bankruptcy of Quinn Insurance owner annulled
A British court has annulled the bankruptcy of Sean Quinn, Reuters reports.
IAG revises half year perils outlook after Xmas day weather claims
Insurance Australia Group has confirmed that its Australia Direct and CGU businesses had received to date approximately 24 000 claims following the hailstorms and related severe weather which occurred in Victoria around Christmas Day.
UK bankruptcy of Quinn Insurance owner annulled
A British court has annulled the bankruptcy of Sean Quinn, Reuters reports.
Insurers must not lose sight of long term challenges
Speaking as part of the Insurance Institute of London Lecture programme, Mark Hoban, MP, financial secretary to the treasury, said that there is “no place for complacency” in the insurance sector.
Cat losses for 2011 second highest on record
Total insured natural catastrophe losses of $107bn (£69bn) in 2011 were the second highest on record - surpassed only by the 2005 total of $120bn.
Canopius underwriting team joins Gallagher
Former employees of Canopius’ UK underwriting household and personal property team are thought to have joined Arthur J Gallagher, Post has learnt.