News
New regulator reveals 12-strong board
The 12 new members of the Financial Conduct Authority board have been named ahead of the new twin-peak regulatory system taking over from the Financial Services Authority on 1 April.
Allianz “not chasing top line growth” with Turkey acquisition
Allianz is confident it can write profitable property and casualty business in the Turkey following its acquisition of Yapi Kredi Sigorta.
Bluefin names Boden as non-exec chairman
Axa-owned broker Bluefin has replaced outgoing chairman Ian Brimecome with its non-executive director George Boden.
RSA renews Tesco Bank pet cover deal
RSA has put pen to paper on a deal to retain its role as the sole provider of Tesco Bank’s pet insurance.
Hyperion boss eyes further growth in Asia as GA comes aboard
Hyperion chief executive David Howden is hoping investment and expertise available at new shareholder General Atlantic will provide his firm with a springboard for further growth in emerging Asian markets.
Hiscox Bermuda adds to American catastrophe team
Hiscox Bermuda has expanded its American catastrophe team with the addition of Bill Lazzaro.
Financial stress takes toll on Italian insurers
Pressure on premium income in Italy is likely to continue throughout 2013 as the deep recession and austerity measures in Italy squeeze households' disposable income, according to Fitch.
BP Marsh eyes new investments after Hyperion sale
BP Marsh will reinvest the £29.2m obtained from the sale of 80% of its Hyperion stake in new or existing ventures.
Lesbian, gay, bisexual & transgender insurance network launched
Two hundred insurance professionals attended last night's launch of the Lesbian, Gay, Bisexual and Transgender Insurance Network known as Link.
Earthquake insurance premiums to rise 15% in Japan
The Non-Life Insurance Rating Organisation of Japan has recommended to raise average earthquake premiums for buildings by 15.5% in July 2014.
Guy Carpenter appoints Book as head of agriculture for Asia-Pacific
Peter Book to become managing director of Guy Carpenter's agriculture practice for the Asia-Pacific region on 2 April.
Fellow mutuals deny interest in Co-op GI arm as Truell bid rumoured
Mutual insurers LV and NFU Mutual have ruled themselves out of competing for The Co-operative’s general insurance business, which is understood to have caught the attention of a group of financiers.
FCA business model met with trepidation in insurance industry
Fears have been voiced by the insurance industry that the new regulators will intrude too much into the commercial sphere and that having two bodies will cause inefficiency.
Motor insurers vow to cut premiums if young driver claims come down
The insurance industry has promised the government young drivers’ premiums could go down by as much as 20% if new proposals succeed in reducing the frequency and value of motor insurance claims.
Is claims sector set for investment and M&A surge following latest LDC move?
Speculation is mounting that the claims market is ripe for further private equity investment and mergers after motor claims specialist Validus IVC completed a management buyout with backing from Lloyds Development Capital valuing the firm at £30m.
Hostile ABI response to ‘inferior’ Flood Mu model sparks wider debate
The Association of British Insurers’ attempts to derail a proposal put forward by Marsh to secure a mutualised solution to flood risk have been criticised by politicians and industry insiders.
Career development: Access granted to courses in North
Insurance professionals based in the north of England have been granted greater access to technical training courses and exam revision that were previously only available in London.
Career development: GAB Robins staff pick up CILA Diplomas
Two GAB Robins employees have passed the nationally recognised Chartered Institute of Loss Adjusters Diploma in insurance claims handling.
News Review: Winslow promoted in BGL reshuffle
Peter Winslow has been promoted to executive chairman of BGL Group and will be succeeded as chief executive by chief operating officer Matthew Donaldson, effective from 1 July.
My Best XI: Chris Phelan, owner, Paradigm Consulting
Chris Phelan, owner of independent loss adjusting firm Paradigm Consulting, selects his best XI for an insurance industry start-up. Phelan’s team includes representatives from firms such as Cunningham Lindsey and Davies, while the die-hard Manchester…
Market Moves: McPherson leaves A&A Group after 28 years, while Allianz looks to African growth
It was a relatively quiet week for the industry as appointments within the broking sector – a regular hive of recruitment – were few and far between, with the only notable activity in the sector coming in the form of the departure of veteran A&A Group…
SSP appoints European head of client delivery programme
Insurance technology provider SSP has appointed Gary Glennard as its head of client programme delivery for Europe.
Industry divided over Eiopa's Solvency II guidelines
Industry players have been divided in their response to the draft Solvency II guidelines released by the European Insurance and Occupational Pensions Authority.
General Atlantic acquires close to 30% of Hyperion shares
The Hyperion Insurance Group has signed an initial agreement with General Atlantic, which will see the global growth equity firm acquire just over 30% the international broking business' shares.