News
Coordinated approach to drone regulation registers on IUA radar
A coordinated approach to the regulation of aviation drones is essential for the technology to thrive, the International Underwriting Association has claimed, amid rapidly expanding interest in the use of small unmanned aircraft systems.
South East storm claims contribute to £160m L&G payout in 2014
Legal & General paid out more than £160m in general insurance claims last year, with the insurer making upwards of 80,000 claims payments to customers who registered a household insurance or lifestyle cover claim.
RPC Consulting buys software company Marriot Sinclair
RPC consulting has acquired UK-based financial services software and consultancy firm Marriott Sinclair.
Lloyd’s urges market to ‘dive in’ as it launches first diversity festival
Lloyd’s is to hold a festival from 29 September to 2 October to promote diversity and inclusion in the London market.
Aviva claims boss Lovely accuses rivals of 'feeding the beast'
Aviva’s global claims director David Lovely has criticised market rivals for not putting their money where their mouth is in the fight against fraud and accused some of “feeding the beast” by establishing alternative business structures.
L&G predicts end of soft market after AA index results
Legal & General has suggested the AA Premium Index's second quarter 5% rise in motor premiums could signal the end of the soft market cycle in the general insurance market.
Crawford strategy boss Drew takes on FD role at Broker Network
Broker Network has appointed Crawford and Company senior vice president Simon Drew to the role of finance director with immediate effect.
Ombudsman reports no let-up in PPI complaints
The Financial Ombudsman Service received 4000 payment protection insurance complaints each week in the first quarter of 2015 with 74% of cases upheld.
Charles Taylor COO Ely to take over from Clarke as adjusting CEO
Charles Taylor chief operating officer Damian Ely will take over from Arthur Clarke as CEO of Charles Taylor Adjusting on 1 January 2016 following the Clarke’s retirement on 31 December.
Exor adds $3 per share dividend to Partner Re bid
Italian investment firm Exor has added a $3 (£1.93) per-share dividend to its offer for Partner Re, in a move that casts further doubt on Partner Re's deal to merge with Axis Capital Holdings.
Sparks named as Generali Asia chief financial officer
Generali Asia has appointed Jenni Sparks as chief financial officer.
Hong Kong Insurance Awards: Entries close 31 July
The entry deadline for the Hong Kong Insurance Awards is the end of the month.
Home and motor policy prices rise in Q2, AA index finds
Average motor and home insurance premiums have risen during the second quarter of 2015, according to the AA's British insurance Premium Index.
Government pledges £20m to boost driverless car innovation
New funds pledged by government towards driverless car testing aim to put Britian at the vanguard of the intelligent mobility market.
Wheatley's FCA exit raises 'more questions' than it answers
The abruptness of Martin Wheatley’s planned departure as CEO of the Financial Conduct Authority has come as a shock to market insiders, who are calling on his successor to adopt a 'proportionate' line on regulation.
Biba delivers uptick in 2014 turnover despite 'uncertain' market place
The British Insurance Brokers’ Association recorded a 7% annual increase in company turnover in 2014 to £3.78m (2013: £3.53m).
Towergate Underwriting welcomes LV Broker to home syndicate
LV Broker has joined Towergate Underwriting’s home syndicate alongside Allianz, in an agreement that will run for an initial term of five years and is expected to be worth more than £110 in gross written premium.
IUA warns insurers over imminent tax changes
The International Underwriting Association has warned that the insurance industry will be affected by a global reform of tax systems.
Rehabilitation First Awards 2015 shortlist revealed
The shortlist for Post’s annual Rehabilitation First Awards has been unveiled ahead of the 11 September ceremony.
CFC partners with security ratings firm Bit Sight
Specialist lines underwriting agency CFC has formed a partnership with cyber security ratings agency, Bit Sight Technologies.
Claims Conference Asia: Q&A with Derek Martin
Derek Martin a senior member of Zurich's Asia-Pacific claims team talks to Post ahead of his speaking slot at the Claims Conference Asia - Singapore.
More mega mergers expected as low interest rates and investment returns fuel M&A
Weak investment returns and ongoing soft market conditions have been cited by AM Best as driving factors behind an uptick in acquisitions activity among insurance companies that are seeking to deploy capital and create scale.
AJG buys 65% stake in Columbian energy & construction specialist
Arthur J Gallagher has extended its investment in Latin America with a 65% stake in independent Colombian energy and construction specialist Arm Re.
Lifting of Iranian sanctions piques interest from German and French insurers
German and French insurance companies are ready to build bridges with Iran after the former pariah state struck a historic nuclear deal with six world powers, according to reports emanating from the Middle East.