News
Former Pool Re chairman Tony Latham takes on NED role at Argo
Tony Latham will serve as Argo Managing Agency’s new non-executive director, with the former Pool Re chairman taking up the board role from 27 April.
Reinsurance broker hires two JLT execs for marine and energy
Capsicum Re has appointed Alistair Lockhart-Smith and Jerry Reeves to its marine and energy specialty business, as a managing partner and partner respectively.
AmTrust to acquire ANV for $218.7m
AmTrust has announced it will buy ANV Holdings for $218.7m (£151m) in what it describes as a “transformative transaction” for the company.
Markerstudy restructures retail division after departure of Russell Bence
Markerstudy’s retail division will undergo a restructuring following the resignation of managing director Russell Bence.
Axa grows in Africa through tie up with Lloyd’s specialty Chaucer
A new venture between Axa and specialty insurer Chaucer will cover political risk, energy and infrastructure.
Watchstone rejects buyout bid as 'unworkable'
Watchstone Group has rejected a bid it deems “unworkable” but has not ruled out any future offers from the company.
Lloyd’s still to shake ‘men in grey suits’ image
Less than half of companies in Lloyd’s have women on their boards, according to a survey on diversity.
Advent targets $100m in growth delegated authority market
Advent Solutions Management has announced plans to target growth and plans to be processing $200m (£139.3m) in premiums within five years following significant investment by Abbey International Finance.
Aegis London finance director resigns
Finance director of Aegis London, James Halley, is leaving the company.
Saga sees improving motor COR and profit growth
The over-50s specialist insurer and service provider Saga has announced an improved combined operating ratio in its motor book of 74.4% (2015: 77.9%) in the year to January 2016.
Ping An buys 48% of major Chinese online car retailer
Ping An has bought 47.7% of the shares of Beijing-based retail car website Autohome from Australia-based Telstra for $1.6bn (£1.1bn).
FWD buys health insurer in Singapore
Hong Kong-headquartered health and life insurer FWD has acquired 90% of corporate medical insurer Shenton Insurance.
Aviva claims head points to resistance from “two major players” as subrogation portal targets 70% take up by 2017
Aviva hopes to have two fifths of the UK motor insurance market signed up to use the subrogation portal it launched last year by the summer - and 60-70% by the end of the year.
UK insurers given hope over European Commission compromise for “unenforceable” Vnuk ruling
A senior executive from the Motor Insurers’ Bureau has offered the UK insurance market hope that the European Commission will review its response to the Vnuk ruling as it comes to understand the level of unintended consequences the decision might have…
CII calls for tougher rules after drone hits aircraft
Insurance industry body the Chartered Insurance Institute has called for tougher regulation after a drone hit a British Airways aircraft on approach to Heathrow airport yesterday.
Windstorm postcode-level analysis tool launched by Emapsite
Emapsite, a data services provider, has launched a perils model allowing insurers to assess windstorm risk by postcode across the UK.
Hearn takes over helm of CGNMB following Newman’s retirement
Steve Hearn has been appointed CEO of CGNMB following Gordon Newman’s retirement from the Lloyd's broker.
Fourth company acquired by Bluefin in 2016
Bluefin Insurance has announced its fourth acquisition for the year, with Liverpool-based Exchange Insurance Services the broker’s latest purchase.
#postpeople 18 - 22 April 2016
All the latest insurance market moves between 18 and 22 April 2016.
FCA SME claims review “sharpened” focus, but was not a major factor in industry response during 2015/16 floods
The insurance industry’s response to the winter flood in terms of SME commercial claims would have been hailed a success, even without the Financial Conduct Authority’s 2015 thematic review into this area.
Sullivan retires as Chubb's Asia-Pacific chairman
Damien Sullivan has retired as Chubb's Asia-Pacific chairman but will remain with the global insurer as an adviser.
Toyota suspends production across Japan following earthquakes
Carmaker giant Toyota has suspended many of its production operations across Japan as a result of a shortage of parts following two deadly earthquakes in the country.
Chubb signs insurance distribution agreement with major Chinese retailer
Global insurer Chubb has signed an undisclosed long term distribution deal with Chinese retailer Suning.
Car insurance premium prices static in Q1 2016
The average price for comprehensive car insurance premium stood unchanged at £671 in the first quarter of 2016, according to the latest Confused.com Car Insurance Price Index in association with Willis Towers Watson.