News
PRA consults on regulatory regime for insurance bosses
The Prudential Regulation Authority is consulting on introducing a senior insurance managers regime to ensure those running regulated insurance companies behave with integrity, honesty and skill.
Lime Underwriting PI and D&O exit opens door for Ascent
Ascent Underwriting has entered the UK and Irish professional indemnity and directors and officers markets following the recruitment of Lime Underwriting's managing director and two other specialists.
Seventeen inks Clydesdale debt refinancing deal
Seventeen Group has agreed a deal to refinance its debts with Clydesdale Bank, allowing the firm to target new acquisitions.
Quindell's Moorse sees share deal terminated
Quindell group finance director Laurence Moorse has failed to meet margin call on the controversial share purchase agreement with Equities First Holdings.
Fairchild says Broker Network 'not complacent' about competitors' tactics
Towergate-owned Broker Network has sent a firm message to its competitors saying it is aware they will be looking to incentivise its members with short-term offers.
Insurers to remain reliant on Pool Re in face of large potential losses
Insurers are likely to continue to participate in Pool Re despite the proposed levy increase, according to a briefing from AM Best.
African reinsurer One Re gets UK regulatory approval
One Re, a reinsurer focusing solely on business from Africa, has received approval by the Prudential Regulation Authority and the Financial Conduct Authority.
Acturis reaches 12,000 users
Software provider Acturis has passed the 12,000 user mark and has grown its user-base by 20% since October 2013.
JLT gains approval for Indian joint venture
Jardine Lloyd Thompson is set to launch its operations in India following this summer's acquisition of a 26% stake in Sunidhi group's Independent Insurance Brokers.
Biba launches sharing economy guide
Aon, Higos, Bluefin and Towergate are among the brokers that have signalled they can place risks for businesses operating within the sharing economy, according to the British Insurance Brokers' Association.
ABI dismisses CHO claim to MPs that Ifed acts as ‘private police force’
CHO concerned crimes that impact on society are not being tackled
Motor firms warned rates need to go up 10% to restore sector’s profitability
Underwriters face net combined ratios of 112.% in 2015
Redburn appointment hints at piecemeal Towergate sale
Executive chairman claimed group would be sold as a whole
Pool Re satisfied with terror deal despite ceding increased premium to Treasury
Members vote in favour of deal that will see 50% of premium go to government
Lloyd’s handed Mexico representative office approvals
Lloyd’s has been handed approval by Mexican authorities to open a new representative office in Mexico City.
Soundbite: Listen to Inga Beale reflect on Lloyd's and the need for innovation
Speaking at Marsh's seventh annual client event on 25 November, Lloyd's CEO Inga Beale said the London market must continue to innovate as it has in the past.
Marsh boss Weil plotting contract efficacy drive
Marsh is to unveil a new drive to improve the effectiveness of commercial insurance contracts from next week.
Marsh unveils Pool Re alternative terrorism facility
Marsh has unveiled a new UK terrorism facility to provide cover to clients with commercial property assets in the UK.
Chase-Gardener leaves Brightside
Brightside co-founder Paul Chase-Gardener has retired from his role as commercial director at the broker.
Fraud most prevalent among under 21s, according to VFM
Claims statistics produced by VFM Services over the past three years has shown that fraudsters are most likely to be aged under 21.
Expertise in Action Video: Ian McManus & Steve White on training, succession planning and channel differentiation
Given the competitive insurance landscape it is important brokers do not only invest in their employees to maintain a skilled upwardly mobile workforce, but also articulate their value to customers.
Assurant Solutions launches connected home division
Assurant Solutions has launched a division to offer protection for people living in connected homes.
Aviva shares drop after Friends Life announcement
Aviva saw its share price decline more than 5% in a single day after it announced it was in acquisition talks with Friends Life.
Counter-Terrorism Bill to go to parliament tomorrow
Home secretary Theresa May cited UN estimates that ransom payments raised up to £28m for militant group the Islamic State of Iraq and the Levant in the past 12 months as she yesterday announced intentions to ban ransom insurance payments.