News
Amanda Blanc will 'wake up' Zurich, brokers say
Zurich’s capture of Axa UK CEO Amanda Blanc will “wake up” the insurer, brokers have said.
Amanda Blanc leaves Axa for Zurich
Axa UK’s CEO Amanda Blanc is joining Zurich as CEO for Europe, Middle East & Africa, in replacement of Gary Shaughnessy.
Endeavour introduces cyber offering to protect against physical damage
Delegated Authority Specialist and Lloyd’s Broker Endeavour has developed a cyber product to protect manufacturers against the physical damages that occur due to a breach.
Cat bond issuance hits $3.1bn in Q1
Insurers and reinsurers sponsored $3.1bn (£2.2bn) in catastrophe bonds in the first quarter of 2018, up 34% from the first quarter of 2017, according to data analytics provider PCS.
Thatcham appoints Graham Gibson as chairman of its board
Thatcham Research has appointed Graham Gibson as the new chairman of its board.
Downstream energy sector suffers worst loss in nearly a decade
The downstream energy sector suffered its worst loss record for nearly a decade in 2017 with low rating levels exacerbated by one of the worst catastrophe loss years on record.
Former LV GI boss O'Roarke joins Aviva
Exclusive: Former LV general insurance boss John O’Roarke has taken a role as a non-executive of the Aviva general insurance and life businesses.
Ardonagh backers complete Compass acquisition
MDS and HPS Investment Partners have completed the acquisition of Compass Broker Holdings following approval from the Financial Conduct Authority.
Broker leaves SSP for Open GI
Islands Insurance Group has left SSP for rival provider Open GI, after a fresh round of outages at the software platform.
PIB capture sees GWP rise to half a billion
PIB Group has acquired commercial broker Wilby, the group’s 14th acquisition in 21 months.
Insurers still failing to meet FCA renewal rules
The Financial Conduct Authority has warned it will take action against general insurers who fail to implement rules introduced to encourage shopping around at renewal time.
McLarens Aviation targets European expansion with German office
McLarens Aviation has launched a German office after recruiting a team of aviation adjusters in Frankfurt.
This week in Post: Caution, doubt and selling out
This week in Post, there was news of sales, incompetence and unprecedented losses.
Magenta takes minority stake in Eaton Gate
SME growth investor Magenta Partners has taken a minority stake in Eaton Gate Holdings and Vigilis Holdings, collectively known as EGV.
Integro snaps up Lloyd’s broker Tysers
Private equity-backed broker Integro has acquired specialist Lloyd’s broker Tysers.
The Hanover eyes Chaucer sale
The Hanover is considering a sale of Chaucer, its Lloyd’s specialty insurance business.
Ombudsman complaints data overshadowed by TV investigation
A recent investigation that exposed the undertraining of staff at the Financial Ombudsman Service has cast doubt over a report into the UK’s most complained about insurers.
Minor discount rate revision could lead to £44m bounce for LV
LV could make a profit of £44m if the discount rate was revised even fractionally, the company said.
LV to remain ‘vigilant’ on home business ahead of Allianz deal
LV will take a cautious approach to the home market following the acquisition of Allianz’s personal lines portfolio.
LV GI sees huge profit rise from underwriting discipline
LV’s general insurance business saw a pre-tax profit of £164m in 2017, up from a loss of £30m the previous year.
Zurich to buy Oak Underwriting from RSA
Zurich has reached an agreement to acquire Oak Underwriting from RSA Insurance for an undisclosed sum.
Flood Re to freeze premiums for first time
Flood Re is set to freeze the premiums it charges to insurers for the first time.
City watchdog to probe Aviva preference shares plan
The Financial Conduct Authority has launched a review into whether Aviva broke market abuse regulations following plans to cancel its high yielding preference shares.
Aviva's Phil Bayles reveals plans for UK GI growth
Aviva started the year in its healthiest shape in recent memory, shaking off the impact of the Ogden rate reform to return to profit.