News
Towergate targets long-term stability with nine point turnaround plan
Towergate's senior team has compiled a nine point turnaround strategy involving a two-year integration project, which group CEO David Ross believes will transition into 'business as usual' in 12 months’ time.
Market moves - 26 November 2015
All the movers and shakers in the insurance industry
Ex-Axa COO Carruthers to become non-exec chair at A-Plan
Former Axa Commercial Lines and Personal Intermediary chief operating officer Max Carruthers is to take on the role of non-executive chairman at independent high street broker A-Plan, Post can reveal.
Aviva commercial to launch multinational offering in 2016
Aviva is to soft launch a commercial multinational offering in the New Year, having worked on its development for the past 18 months.
‘Remarkable Towergate is still standing' says CEO Ross
Towergate CEO David Ross is amazed the business is still operating after the "extraordinary amount of trauma" it experienced in the past 18 months.
Towergate regulatory costs hit £5.4m in Q3 as FCA talks continue
Towergate incurred regulatory costs of £8.8m for the opening nine months of 2015 in relation to the ongoing Financial Conduct Authority investigations.
Insurers feel 'under prepared' for cyber attack
Almost half of the insurers in the London Market feel under prepared for a Talk Talk-style cyber attack according to a survey by business technology provider Xchanging.
Towergate Q3 income drops 10% as infrastructure challenges continue
Towergate has reported a 10.3% decline in income to £87m in the third quarter of 2015 compared to £97m in the same period of 2014.
Fosun to step up integration after Ironshore completion
Chinese conglomerate Fosun is to increase its integration efforts among its insurance assets following the confirmation of its 100% ownership deal with Ironshore.
Claims Club Asia: Cyber risks on the agenda
At the final Claims Club Asia of 2015 in Hong Kong, an audience of claims professionals heard from experts on cyber risks.
Australasia's risk management institute appoints Ventura as president
The Risk Management Institution of Australasia has appointed vice-president Anthony Ventura as its new president.
Insight Australia's brokers to join Steadfast
Insight Australia Group's broker members have decided to join Steadfast's network.
Mass demands blanket ban on cold calls and texts as CMC review closes
The Motor Accident Solicitors Society has called for an extension of the ban on unsolicited texts and cold calls to both sides of the claimant/defendant divide.
Cila council approves updated diversity policy
The Chartered Institute of Loss Adjusters council has formally approved the organisation's amended diversity and inclusion policy which includes training, development and progression opportunities for members.
Data, Analytics & Technology Awards 2015: The Winners
Industry technology experts scaled the heights at the Millbank Tower’s Altitude 360 venue yesterday afternoon (19 November) for Post’s Data, Analytics & Technology Awards for Insurance 2015 where the winners toasted their success in the skies.
Unrated German firm Berliner in default
The Financial Services Compensation Scheme is discussing the failure of German insurer Berliner with its liquidator after it was declared to be in default on 28 August 2015.
A-Plan targets acquisitions on back of previous year's growth
High street broker A-Plan has delivered a 9% increase in earnings before interest, taxes, depreciation and amortisation to £24.7m for the year ending 28 February 2015 (FY 2013: £22.7m).
Yorkshire broking boss cleared of careless driving charge
Broker boss Sean McClarron has been cleared of a death by careless driving charge.
McLarens names Brown CEO as Chalfant becomes exec chair
Global loss adjuster McLarens has unveiled a senior management reshuffle that will see chief operating officer Gary Brown take over as CEO with his predecessor in the role, Vern Chalfant, becoming executive chairman.
AIG UK boss McNamee to exit amid $500m cost-cutting drive
AIG UK managing director Jaqueline McNamee is to depart the insurer amid a swingeing cost-cutting initiative that could impact up to 400 senior executives globally.
EY predicts 8% motor premium increase
Motorists can expect an average 8% rise in the price of their insurance which is equivalent to a £30 annual increase per driver, according to EY research.
R&Q acquires Maltese subsidiary of US Fidelity National
Randall & Quilter will acquire Maltese subsidiary of US-based Fidelity National, FNF Title Insurance Company, subject to regulatory approval.
Quiz of the week - 20 November
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Pool Re insurers to take higher retention after terror attack
Pool Re members will take a greater retention in the event of a terrorism loss, shifting from £100m to £135m at any one event.