News
Brokers expect to benefit from Zurich's cost-cutting programme
Zurich’s decision to implement a cost-cutting initiative that will result in up to 440 UK redundancies has been welcomed by brokers who believe that removing a layer of management will produce tighter relationships with regional branches.
Global insurance leaders back inaugural Insurance Careers Month
Lloyd's CEO Inga Beale is one of several global insurance players to pledge their support to the inaugural Insurance Careers Month to be held during February 2016 in the US.
FCA approves Osprey takeover
The Financial Conduct Authority has approved Thomas Miller's proposed acquisition of Osprey Holdings, the parent company of Osprey Underwriting Agency.
LMG welcomes start of ILS legislative process
The government has tabled an amendment to the Bank of England and Financial Services Bill seeking power for the Treasury to make regulations facilitating and regulating insurance linked securities (ILS) business, a move welcomed by the London Market…
Career file: Simon Jeffreys named non-exec chair at Aon Risk Solutions
Aon Risk Solutions, Aon’s global risk management business, has appointed Simon Jeffreys as non-executive chairman, replacing Bruce Carnegie-Brown.
Career Development: Norrie Johnston Recruitment research illustrates gender pay expectations
New figures from specialist executive search and interim management company Norrie Johnston Recruitment highlight the gender pay gap.
Market Moves - 12 November 2015
All the latest movers and shakers in the insurance industry.
Treloar tipped to succeed at LV as O'Roarke predicts future PL and CL growth
Steve Treloar’s experience of both the direct and broker channels will help him fill John O’Roarke’s “big shoes” once he takes over as LV general insurance managing director next year, according to market commentators.
Vulnerable customers code gains industry backing despite commercial concerns
The joint code of conduct for vulnerable customers established by the Association of British Insurers and the British Insurance Brokers' Association has been broadly welcomed by the industry, despite concerns about the commercial viability of serving…
European Windstorm Hazard Maps unveiled by Met Office
The Met Office has launched its European Windstorm Hazard Maps to show the location and severity of damaging winds for a variety of return periods at high resolution.
Generali Innovation Challenge winner revealed
Generali Group, in collaboration with Microsoft, has announced the results of the first Generali Innovation Challenge, a project dedicated to start-ups responding to insurance-related challenges through innovative new ideas.
Crawford to cut up to $28m from expense base in additional restructure
Crawford and Company is seeking to reduce its dependence on severe weather claims by embarking on an additional restructuring plan designed to remove $25m (£16.6m) to $28m from the company’s expense base.
Russian plane crash unlikely to impact aviation or travel rates
Aviation rates are expected to withstand the aftermath of the downed Russian airliner in Sinai, market experts have claimed, while the cost of travel insurance to Egypt is also unlikely to rise.
Zurich appoints Japan CEO
Zurich has appointed Maschika Nishiura as CEO and representative for Japan.
China's Anbang buys first US insurer
China's Anbang Insurance Group has bought US life insurer Fidelity & Guaranty Life for $1.57bn (£1.04bn).
Aspen recruits from XL Catlin for Lloyd's Singapore platform
Aspen Insurance will become the latest syndicate to join the Lloyd's Asia platform.
Pressure building as Solvency II enactment enters final countdown
As the Solvency II countdown enters its final stages industry observers are warning some insurers will struggle to be ready by the 1 January start date and that there could be more pain on the horizon.
Chase Templeton acquires Kent-based broker Consilium
Chase Templeton has completed its largest ever acquisition through the asset purchase of Kent-based healthcare broker Consilium Employee Benefits.
Zurich to cut up to 440 UK jobs
Zurich has confirmed proposals to cut up to 440 jobs in its UK general insurance business as part of a programme to reduce costs in the organisation and simplify its operating structure.
O'Roarke backs successor Treloar to build on growth at LV
LV managing director of general insurance John O’Roarke is confident his successor and former Direct Line colleague Steve Treloar is well placed to maintain the firm's strong growth and "distinct culture".
Dye predicts 2016 private motor turnaround as Allianz UK profits slide
Allianz UK has seen a slight deterioration in its combined operating ratio and a £14.4m drop in profits for the third quarter of 2015 despite a 2.7% increase in gross written premiums over the past 12 months.
L&G renews GI partnership with Principality Building Society
Legal & General has extended its existing partnership with Principality Building Society to continue selling its general insurance products through Wales' largest building society.
Bluefin looks to Howden for finance operations head
Bluefin has recruited Carl Porter from Howden Insurance Brokers to head finance operations as well as making interim chief financial officer Amber Wilkinson permanent.
Aviva personal lines MD Treloar to take over from O'Roarke at LV
LV has appointed Aviva personal lines managing director Steve Treloar as John O’Roarke’s successor as MD for general insurance.