News
Former Towergate business Folgate returns to active underwriting
Former Towergate-owned Folgate Insurance has returned to active underwriting in the UK and Europe one year after being acquired by APC Underwriting.
Lloyd's H1 profit drops 28% in ‘intensely' competitive environment
Lloyd's has announced a decreased first half profit of £1.19bn (H1 2014: £1.65bn) alongside a deteriorated combined operating ratio of 89.5% (H1 2014: 87.4%).
Reserving elimination caused Gable to report H1 pre-tax loss of £2.4m
Liechtenstein-based insurer Gable Holdings has reported a pre-tax profit loss of £2.4m for the six months ended 30 June 2015.
Biba presents City Minister Harriet Baldwin with alternative FSCS plan
Corporate brokers have joined colleagues in the personal lines space in voicing concerns that the rise in insurance premium tax will result in more premium leaving the market.
Woodgate and Clark strategy to remain 'exactly the same'
Woodgate and Clark’s style, culture and method will remain "exactly the same" following its acquisition by Dutch loss adjuster Van Ameyde Group, according to managing director Michael Woodgate.
Internet of Things could see insurers become force for good for policyholders
The so-called ‘Internet of Things’ could see insurers become a force for good in society, in effect providing a duty of care to policyholders.
Ageas picks Logue to succeed Pickford as finance director
Ageas Insurance has appointed Stuart Logue as its finance director starting from 16 November.
Fire trumps flood as biggest threat to UK businesses
Flooding is the most common form of disruption for UK businesses, however fire poses the more serious threat, according to FM Global’s UK claims data research.
Big data can provide strong retail opportunity for insurers, says Aviva CDO Brem
The increasing analytical capabilities provided by ‘big data’ can provide a strong retail opportunity for UK insurers, according to Aviva’s chief digital officer Andrew Brem.
Hackers pitched as remedy to driverless car vulnerabilities
Motor manufacturers should reward hackers for uncovering vulnerabilities in autonomous vehicle systems as cyber security remains a major stumbling block to widespread adoption of driverless cars, according to a report published this month.
AGCS predicts global cyber premiums will reach $20bn per year by 2025
Allianz Global Corporate and Specialty forecasts cyber insurance premiums will grow globally from the current level of $2bn (£1.3bn) per year to more than $20bn over the next decade, representing a compound annual growth of more than 20%.
UK General consulting with 12 staff after restructure
UK General is consulting with approximately 12 staff whose roles will no longer be needed as a result of the firm moving its central services team into its personal lines, Rural Insurance and One Commercial business units.
Thornton Tomasetti expands insurance practice through merger
Building engineering specialist Thornton Tomasetti has merged with Weidlinger Associates boosting its UK insurance property loss consulting practice.
Vienna Insurance Group adds four to managing board
Vienna Insurance Group is expanding its managing board by adding two members and two deputy members.
RSA’s Corrigan joins HDI Gerling’s energy, construction and engineering division
Industrial insurer HDI Gerling has appointed David Corrigan as UK and Ireland property underwriting director and has launched a new engineering, construction and energy division.
Medco 'worth it' despite issue with certain business models, claims MoJ
The Ministry of Justice has vowed to “keep working” with the Medco portal, despite outlining issues with “some business models” since the new system went live in April.
Ageas' Watson calls for tripartite reduction to counter compensation culture
A tripartite approach that involves a reduction in the level of general damages, limitation period and recoverable costs is the “only way” to address the so-called compensation culture, according to Ageas UK CEO Andy Watson.
Howden gets green light for Perkins Slade Forrest takeover
Hyperion-owned Howden UK has completed the acquisition of sports and recreation specialist Perkins Slade Forrest Holdings following shareholder and regulatory approval.
Insurers must find right balance with millions of policyholders up for grabs
The threat of motor insurance customers switching providers more frequently creates a dilemma for insurers on how to differentiate their policies on factors other than price, according to market insiders.
Educating drivers on the importance of safety holds key to curbing uninsured driving
Reducing motor premiums by educating young drivers on the importance of road safety has been raised by market commentators as the main way of curbing the number of uninsured drivers, which has risen for the first time in a decade.
LV exploring reinsurance opportunities amid increased market appetite
LV general insurance managing director John O’Roarke says his firm may seek to take advantage of an increased appetite among reinsurers to write primary business amid an uptick in alternative capital entering the reinsurance space.
ABI poll shows consumers plagued by bogus insurance claims calls
The Association of British Insurers called for clampdown on rogue claims management companies today (8 September), as a survey shows people continue to be bombarded with nuisance calls and texts encouraging them to seek compensation for injuries they…
Market Moves - 10 September 2015
All the latest recruitment news from the world of insurance.
Towergate broking boss Lawton departs after three year stint
Towergate insurance broking CEO Mike Lawton is to exit the business three years after joining from RSA.