News
Refinancing deals in vogue as smaller firms eye their own M&A options
Bank refinancing deals will help small and mid-sized insurance companies remain competitive in the aggressive mergers and acquisitions environment, with further refinancing arrangements expected in the coming months, according to insiders.
Consumers considering cutting coverage in wake of IPT rise
The government’s decision to hike insurance premium tax will trigger a surge in customers moving to new providers and cutting back on or cancelling policies, according to research by Consumer Intelligence.
Income down almost 200% in Q2 at Aspen amid selective strategy
Aspen Insurance saw gross written premium fall by 7.3% to $722.8m (£464m) from $779.3m in the second quarter of 2015 as the firm reduced its exposure to certain energy-related Lloyd’s lines of business.
Asta Capital unveils MGA platform
Asta Capital has announced the launch of a new platform to support the MGA market.
JLT's profit margin hit by US build-out
JLT's first half profit margin declined from 19.7% last year to 17.3% as it made a net trading loss of £12.6m on its US specialty business. The broker said this was in line with expectations.
Leong returns to Singapore for Zurich leadership role
Kevin Leong has left Allianz in Canada to become head of customer distribution and marketing for Zurich's Asia-Pacific global corporate business.
Zurich considers takeover offer for RSA
Zurich has confirmed it is evaluating an offer to buy UK-headquartered insurer RSA.
Chinese investment firm buys Sirius International
Chinese investment firm China Minsheng has bought Sirius International Insurance for $2.24bn (£1.4bn) from White Mountains.
JLT sues Howden in Singapore to halt staff exodus
JLT is pursuing Howden and a Singapore executive firm in the Singapore courts after key staff including JLT's Singapore managing director Goh Chye Huat left in May.
China's regulator approves Anbang's Dutch deal
China's Anbang has completed the purchase of insurer Vivat from government owned Dutch bank SNS Reaal after approval from the Chinese Insurance Regulatory Commission.
Lloyd's chair Nelson to sit on PM's advisory panel
Lloyd's chairman John Nelson is one of 19 UK business leaders appointed to sit on the government's new business advisory group.
CHO hits stalemate with insurers over 2015/2016 GTA rates
Insurers and the Credit Hire Organisation have reached a stalemate over the revised General Terms of Agreement rates for 2015/2016 amid uncertainty surrounding the true minimum cost of credit hire.
Insurers round on Aviva following 'disingenuous' ABS accusations
Aviva has been criticised for playing the “blame game” in the fight against fraud following accusations that rival insurers with alternative business structures are guilty of “feeding the beast” of fraudulent whiplash claims.
Hiscox in ongoing talks with PRA over stress test concerns
Hiscox is engaged in ongoing discussions with the Prudential Regulation Authority about concerns it has with its insurance stress test and is calling for a simulation of a large loss scenario to take place in the first half of 2016.
Sun Life launches into GI market with appointment of Stanney
Ex-Castle Cover products director Simon Stanney has been hired to spearhead Sun Life’s foray into the general insurance market.
Ageas ups uninsured drivers' fight with police partnership
Ageas has sponsored a Hampshire Constabulary police vehicle fitted with automatic number plate recognition technology to help identify uninsured drivers.
Maiden partners with Nissan on three-year retail insurance deal
Nissan Motor (GB) has appointed Maiden Insurance as its retail insurance partner as part of a move to allow customers to purchase their policy through a Nissan quote and buy website.
Insurers at risk of under-serving PPI market as distributors shy away from product
The negative perception attached to payment protection insurance following highly publicised mis-selling scandals could leave the market under-served and consumers short-changed on cover in the future.
C-Suite - Insurer: When two worlds collide
The best way to bring businesses together is to combine their respective strengths, says Simon Cooter.
Axa completes SME broker offering revamp with leadership team hires
Axa has appointed seven people to lead its online SME trading hub for brokers.
Hiscox Retail reports record H1 profit despite tough market conditions
Hiscox Retail delivered record profits of £59.3m in the six months to 30 June 2015, up from £37.4m in the same period in 2014.
Ace moves Asia-Pacific headquarters in Singapore
Ace has moved its Asia-Pacific headquarters in Singapore to Capita Green, 138 Market Street in the CBD.
Aon appoints senior Swiss Re head for China roles
Qin Lu is moving from Swiss Re to take on the roles of CEO of Aon Benfield Greater China and CEO of Aon Risk Solutions, China.
Lloyd's underwriters create Asia-Pacific excess consortium
A new Asia-Pacific excess of loss property cover is led by Atrium and provides $25m (£16m) of loss capacity up to 100% of excess layers.