News
OIM replaces Hiscox as underwriting partner for CHIS
Arthur J Gallagher-owned OIM has replaced Hiscox as the underwriting partner for broker Care Home Insurance Services.
Perils revises loss estimate from windstorm Elon-Felix to €335m
Independent Zurich-based loss data provider Perils has disclosed its second loss estimate for windstorm Elon-Felix which affected Western and Northern Europe from 8 to 11 January 2015.
Loss adjusters appoint accountants to help with Holborn fire BI claims
Loss adjusters Crawford & Company and Cunningham Lindsey have assigned a number of in-house accountants after being appointed to handle business interruption claims emanating from last week’s electrical fire in central London.
Peter Blanc tipped to lead buyout at Aston Scott
Former UK retail CEO at Arthur J Gallagher Peter Blanc is set to return to the insurance market and lead a management buyout at broker Aston Scott.
Rebuilding trust in Towergate a priority for Egan following restructure
Towergate must rebuild trust and confidence in the brand following the completion of the deal to secure its financial future, according to interim CEO Scott Egan.
LMA launches first competitive board election for three years
Eight candidates are fighting it out for six positions on the Lloyd’s Market Association’s governing body in what will be LMA’s first competitive election since 2012.
TMK hires former Catlin Syndicate CEO Sinfield for claims role
Tokio Marine Kiln has appointed former Catlin Syndicate CEO Nick Sinfield as its new head of group claims.
Standard Syndicate vows to bring new marine business to Lloyd’s
Standard Syndicate (Syndicate 1884) has commenced underwriting at Lloyd’s with a range of specialist cover targeting shipowners.
Towergate's unsecured creditors complete takeover
Towergate's senior unsecured creditors have completed the acquisition of the majority stake in the consolidator.
Marsh hires Sally Williams for director of risk role
Marsh has appointed Sally Williams as director of risk and governance, succeeding John Nicholson who has retired.
Aviva welcomes Medco launch
Aviva has welcomed the launch of Medco, the government system that will randomly allocate medical experts to soft tissue bodily injury claims such as whiplash.
Reinsurers eye greater share of primary business as rate pressure continues
Global reinsurers are increasingly looking to shift their portfolios towards primary business in the face of continued rate pressure, according to an AM Best report.
JLT raids Willis for 22 strong fine art and specie team including new CEO Gordon
JLT Specialty has recruited David Gordon from Willis to head up its specie, fine art & jewellery division.
Insurance Hall of Famer Duperreault praises Lloyd's resilience
Brian Duperreault has hailed the resilience of the Lloyd's market, but warned that it has to remain relevant in ever-changing times.
XL unveils venture capitalist product
XL Group has launched a new venture capital initiative, XL Innovate.
Flood Re chair Hoban to take home £150k in first year
Flood Re chairman Mark Hoban is to receive a salary of £150,000 for his first year of work for an expected commitment of approximately seven hours per week.
Covéa boss fears CMA 'failure' on credit hire will increase costs in 2015
The Competition and Market Authority’s failure to take action on credit hire costs following its private motor report last year risks spurring claims inflation, according to Covéa Insurance CEO James Reader.
Cobra secures £6.9m refinancing deal with Clydesdale Bank
Cobra Group has secured a £6.9m debt refinancing with Clydesdale Bank with the aim of growing the business.
Further acquisitions not on Duperreault's radar at Hamilton
Hamilton Insurance Group CEO Brian Duperreault is not planning any further acquisitions after completing a deal to buy Lloyd's operation MBA Sportscover Underwriting.
Fraud investigation firm VFM enters liquidation
Peterborough-based claims investigation firm VFM Services has gone into liquidation resulting in the redundancy of the firm's entire workforce, Post understands.
Xchanging insurance and claims boss Pell resigns
Services provider Xchanging’s insurance and claims services managing director Max Pell has resigned after five years with the firm.
French customers seek legal action over Aviva life contracts
A lawyer representing Aviva life insurance customers in France has registered 10 further clients in the past two weeks who want their fixed price arbitrage contracts honoured by the insurer.
IGI targets untapped Middle East and African markets at it plots UK growth
International Insurance Group will eschew the saturated markets of Northern Europe and the United States as it looks to build its London operation, according to CEO Andreas Loucaides.
Pet insurance market forecast to reach £1.1bn by 2018
UK pet insurance premiums are forecast to reach £1.1bn by 2018 with market growth driven by rising vetinary fees, high claims costs and advances in vetinary treatment.