News
Anthem to acquire Cigna for $54.2bn
US health insurer Anthem has agreed to buy Cigna in a deal that values the latter at $54.2bn (£34.9bn).
Sure Thing plots recruitment drive after promising first year
Scottish-based motor broker Sure Thing claims it has outstripped pre-launch sales predictions by 190% after achieving 80,000 live policies in its debut year, with continued growth expected to lead to a boom in recruitment.
Quiz of the week - 24 July 2015
It’s that time of the week again… Quiz Time!
Gallagher kicks off legal proceedings against Alex Skriptchenkov and Portsoken
Arthur J Gallagher has started legal proceedings against former employee Alex Skriptchenkov and his new employer, Portsoken.
Dual acquires MGA Oliva Underwriting
Hyperion underwriting arm Dual has acquired UK-based property and casualty, contractor trades and marine insurance managing general agent Oliva Underwriting.
Horton confident for the future as Beazley racks up 16% rise in H1 profits
Beazley CEO Andrew Horton has hailed an “excellent first half” for his firm after presiding over a 16% year-on-year increase in pre-tax profits to $154.5m (£99.8m), up from $132.9m at the halfway point in 2014.
ABI applauds MoJ entry into NIHL market
The Association of British Insurers has welcomed a move by the Ministry of Justice to tackle the growing number and cost of claims for noise induced hearing loss.
Osborne confident insurers can ‘absorb' IPT costs
Chancellor of the Exchequer George Osborne is confident the insurance sector can absorb the cost of the 56% increase in insurance premium tax announced in the summer Budget.
Chaucer strikes Quinn deal with Liberty
Chaucer Insurance Services, the UK motor, commercial property and liability insurer, has reached an agreement to purchase the Quinn-direct private motor insurance book from Liberty Insurance.
Suspended sentences for fraudulent pet insurance scam
A married couple who conned an insurer out of £8,358.50 by making fictitious claims on pet insurance for real and non-existent dogs have been given a suspended prison sentence.
Autoglass appoints new supply chain director
Embattled windscreen repairer Autoglass announced today (23 July) the appointment of Simon Blake as operations and supply chain director.
FCA revamps complaints handling procedures with new rules
Financial services firms can no longer charge customers premium rates when making telephone calls to ask for assistance or to complain due to new complaints handling rules published today (23 July) by the Financial Conduct Authority.
UK businesses report increased trade credit concerns
UK businesses are increasingly worried about their trading environment - with 22% of businesses saying their trade credit risk had increased over the past six months, QBE research has found.
Generali acquires My Drive Solutions
Generali has acquired My Drive Solutions, a UK firm specialising in the use of data analytics to profile driving styles.
Peak Re buys 50% stake in Caribbean insurer
Hong Kong headquartered Peak Re has bought 50% of Caribbean insurer Nagico for an undisclosed amount.
Bluefin agrees three year deal with legal expenses MGA GLP
Legal expenses managing general agent General Legal Protection has won a new three year contract with Bluefin to provide a range of legal expenses insurance and assistance products to the broker’s personal lines clients.
Motor players warned to innovate amid development of driverless cars
The pressing need for the motor market to alter its business model has been highlighted by the Lloyd’s Market Association and Deutsche Bank this week in light of the ongoing development of driverless car technology.
Charles Taylor teams up with PE firm to buy major stake in software provider
Charles Taylor and global private equity firm The Riverside Company have collectively entered into an agreement to acquire a majority interest in the owner of Fadata AD, a specialist provider of software solutions to the global insurance industry.
Allied World's profits hammered in Q2 by catastrophes and investment losses
Allied World's after tax profits fell 94% to $9.5m (£6m) in the second quarter compared with the same period last year when profits hit $151.9m.
Walker begins Hong Kong QBE journey
Mark Walker, previously CEO of RSA Hong Kong, has started his role as CEO of QBE's Hong Kong operations.
Taiwan demands Chinese tourists have insurance
From 1 October the Taiwanese government will require Chinese tourists to show proof they have taken out medical insurance.
Allied World hires from Starr to replace Cotter in Asia-Pacific
Allied World has hired Michael Garrison from Starr where he was senior vice president and chief underwriting officer.
Building Block to target networks for distribution in UK launch
Malta-domiciled business Building Block is to target a range of networks to distribute its products as part of a two-pronged business plan.
Robert Fletcher elected CII president
Robert Fletcher has been elected the 119th president of The Chartered Insurance Institute at its annual general meeting in London today, 22 July.