News
Claims Club Asia rebrands as Claims Club Asia-Pacific
The Claims Club Asia has been renamed Claims Club Asia-Pacific in a new look for 2016.
Philippines could achieve 28% premium growth in 2016
The insurance regulator in the Philippines is expecting premium growth of 28% this year.
Fraudsters sentenced over £38,000 Direct Line claim
Three fraudsters have been sentenced for planning a crash-for-cash scam that would have resulted in Direct Line Group paying out more than £38,000 in insurance claims.
Personal and commercial profit pressures spark insurers' wholesale interest
Growth ambitions have been pegged as the main driver behind prominent UK insurers expanding their wholesale market presence with competitive personal and commercial lines conditions forcing insurers to deploy capital elsewhere.
Naming of storms to potentially impact apportionment of claims
The Met Office’s new policy of naming storms that make landfall in the UK could have a significant impact on the apportionment of claims between direct insurers and their reinsurers in the excess of loss market.
Milburn CEO McIntosh banned by PRA after failed PI insurer fined £2.86m
The Prudential Regulation Authority has today imposed a £25,173 fine on Colin McIntosh, CEO of Millburn Insurance and has banned him from holding any controlled functions at any PRA-authorised firm.
Abbey snaps up NI competitor Open and Direct from Swinton
Northern Irish independent intermediary Abbey Insurance Brokers has completed the acquisition of the Open and Direct business from its current owners Swinton Group.
FCA issues £15.5m in fines to fill hole caused by Eric, Balva and Millburn failures
The Financial Conduct Authority has fined five individuals and two firms a total of £15.5m for their part in a market failure that left hundreds of solictors without valid cover.
Towergate appoints Stephenson Harwood partner as general counsel
Towergate has appointed Geoff Gouriet to its executive committee as general counsel.
ABI blames tax hike and CMCs for 8% rise in motor rates
The rise in insurance premium tax along with the activities of certain claims management companies have been blamed for an 8% uptick in the average private car comprehensive motor premium over the course of 2015.
Henderson reveals AIM listing interest on 30th anniversary
Henderson is exploring listing on the AIM market and is expecting to announce a "significant" acquisition as it celebrates its 30th anniversary of operation.
Government pledges £20m for driverless cars projects
The government has announced a further £20m of funding for projects developing driverless cars with consortia including members such as Axa and Direct Line Group among the beneficiaries.
Chubb announces distribution managers and regional leaders
Chubb has announced two distribution management appointments for the UK and Ireland in the hires of Jon Houghton and Jon Nottingham.
Compulsory microchipping for dogs leads to calls for unified pet register
A unified pet register to counter fraud has been championed by pet insurance software firm Aquarium ahead of the implementation of compulsory microchipping for all dogs in England.
County Group snaps up North Wales broker
The County Group has completed its fourth acquisition in seven months with the purchase of Denbigh-based broker George Williams Insurance Services.
RSG completes purchase of MGA George & Partners
Ryan Specialty Group has acquired specialist managing general agent Hunter George & Partners.
Canopius rebrands as Sompo Canopius
Canopius today unveiled a new visual identity and confirmed that it is now operating under the brand Sompo Canopius.
LV boss O'Roarke to become chairman of Horwich Farrelly
Outgoing LV general insurance managing director John O’Roarke has been appointed chairman of insurance industry law firm Horwich Farrelly.
UK cyber market to resemble US amid tougher EU penalty regime
The UK insurance market is expected to increasingly follow its US counterpart as incoming EU legislation substantially toughens up penalties for data breaches.
Marine expert Lovell joins Reed Smith in Singapore
Richard Lovell has left his role as head of shipping and managing partner at Ince & Co. to join Reed Smith.
Lloyd's extends broker sessions in Singapore
Lloyd's has extended its open trading sessions at its new Singapore hub in Capita Green.
Barrowman moves from Australia to JLT Hong Kong
Andrew Barrowman has joined JLT Asia as CEO of the global broker's Hong Kong office.
Insurers appetite for cyber risk questioned in light of HSBC hack
The capacity and appetite of insurers for covering cyber risk has been put in the spotlight once again following today’s cyber attack against HSBC.
Heathrow pods to be modified for London driverless car trials
Driverless "pods" currently being used at Heathrow Airport will be adapted to navigate the streets of Greenwich, in London, as part of the Gateway driverless car project.