News
FSCS to pay out for claims against failed insurance and marketing intermediary
The Financial Services Compensation Scheme is satisfied that a former insurance and marketing intermediary is in default, meaning that customers will be able to apply to claim compensation.
Victims of Nice terrorist truck attack receive €37m
Two years after the truck attack in Nice, southern France, the terror compensation fund has paid out €37m (£33m) to 2135 victims, who were either injured in the attack or are relatives of casualties.
Lloyd’s Brussels receives ‘A’ rating from AM Best
AM Best has assigned the Lloyd’s Brussels hub a Financial Strength Rating of ‘A’ (Excellent) and a Long-Term Issuer Credit Rating of ‘a+’.
This week in Post: Sore heads and muddy journos
It’s been a week for sore heads, with England crashing out of the World Cup on Wednesday. Fortunately, with the industry keeping us so busy, there hasn’t been much time to ruminate on the pain.
Dive In 2018 launches, saying it's #time4inclusion
The Chickenshed theatre company gave a moving and uplifting performance outside the Lloyd’s building for the official launch of the fourth Dive In festival, whose theme this year is #time4inclusion.
MGAs risk huge losses from mispricing cyber: Chilton
Managing general agents who lack specialist knowledge are at risk of unintentionally providing underpriced, 'silent' cyber cover in policies, outgoing Gallagher CEO Grahame Chilton warned.
Brexit White Paper will transform industry into ‘rule taker’
The government’s blueprint for a future trading relationship with Europe would be the “worst possible scenario” for the insurance industry, trade bodies have warned.
Ignition Select has administration extended by a year
Collapsed Ipswich-based broker Ignition Select has had its administration period extended by a year.
Advent and Brit owner looks to merge Lloyd’s businesses
Fairfax Financial Holdings, the parent of Advent Capital Holdings and Brit, is planning to merge some of their Lloyd’s business and place the rest into run-off.
PIB eyes Europe expansion
Broker consolidator PIB will look to grow in Europe, CEO Brendan McManus told a conference.
Flood Re sets out 2039 plans for affordable pricing
Flood Re has set out its long-term vision for when it exits the market in 2039.
Call out rogue MGAs, urges Chilton
Grahame Chilton urged attendees of the Managing General Agents Association’s annual conference attendees to call out rogue MGAs.
Charles Manchester warns MGAs of hurdles ahead
Speaking at the MGAA conference today, chairman Charles Manchester warned that the next hard market could be the shortest ever.
Insurtech start-up Next raises $83m
US-based insurtech start-up Next Insurance has raised $83m in a Series B funding round led by Redpoint Ventures and including Munich Re.
Axa reveals new brand for XL
XL will rebrand as Axa XL and combine all its property & casualty business and specialty risks into the new entity.
Lloyd's launches insurance matching site as digital push continues
Lloyd’s has launched Lloyd’s Bridge a digital distribution platform designed to connect insurance businesses with Lloyd’s underwriters.
UK General appoints Ryder as NED
Exclusive: UK General has appointed Clare Ryder as a non-executive director.
Former Zurich boss launches boutique broker to buck consolidation trend
Exclusive: A former Zurich Private Clients executive has launched Provenance Insurance Brokers, a start-up high net worth and commercial broker.
NHBC first to agree to pay out over Grenfell-style cladding claim
The National House Building Council has agreed to pay out a claim over dangerous cladding at Greenwich complex New Capital Quay.
LSM takes on Ironshore renewals to spur European growth
Liberty Specialty Markets has entered into a renewal rights agreement with Ironshore Europe to take on its European non-merger & acquisition business and staff.
Das v Asplin: Asplin guilty in fraud case
Paul Asplin, the former CEO at Das, was found guilty of fraud charges alongside ex Das claims director David Kearns and former wife, Sally Jones.
Covéa regional restructure leads to redundancies
Covéa is changing its regional structure, leading to 11 redundancies.
Ardonagh backers acquire firm from CBL
Ardonagh Group owners Highbridge Principal Strategies and Madison Dearborn Partners have bought fee protection insurance provider PFP from failed carrier CBL.
Claudio Gienal to replace Blanc as Axa CEO
Axa has appointed Claudio Gienal and CEO of Axa UK and Ireland, replacing outgoing CEO Amanda Blanc.