News
Hong Kong Independent Insurance Authority moves a step closer
The passage of the Insurance Companies (Amendment) Bill 2014 into Legco has brought an independent regulator a step closer in Hong Kong.
Marsh targets growth in Thailand
International broker Marsh wants to hire staff and grow business by 20% this year at its Thai joint venture Marsh PB.
Fraudulent fiancé who lied about 'stolen' ring avoids jail
A deceitful fiancé who tried to con his insurer out of £20 000 by claiming his wife-to-be’s engagement ring was stolen while on holiday in Brazil has been slapped with a fine and a suspended prison sentence.
Constructaquote.com rebrands to attract SME users
Comparison website constructaquote.com has rebranded its website to appeal to the SME market as a business insurance provider.
Winter storm claims total upwards of £2.1m for Cornish Mutual
Cornish Mutual has revealed the cost of claims following “unprecedented” storms earlier this year have topped £2.1m.
Garwyn and Davies liability launches following internal appointments
Davies Group has followed up its acquisition of specialist liability loss adjuster Garwyn by combining its existing offering to form Garwyn and Davies liability.
QBE promotes casualty, motor directors
QBE has promoted from within for its new casualty and motor directors in the UK and Ireland.
58% of brokers weighing mergers over three years
Almost two thirds of insurance brokers have admitted they will consider mergers over the next three years in a survey from Sterling.
Allianz hires Tesco Bank's Davess for retail role
Allianz has named Gary Davess as Neil Brettell's successor for its retail division specialty and direct director role.
Ace survey points to heightened concern over civil unrest in EMEA
Concerns relating to civil unrest and political violence have overtaken fears over terrorism for companies across Europe, Middle East and Africa, according to a study conducted by Ace Group.
Airclaims lands in Vancouver
McLarens-owned aviation loss specialist Airclaims has expanded its Canadian operation with the launch of a new office in Vancouver.
Barbican subsidiary launches SME cyber product
Barbican subsidiary Professional Indemnity Protect has launched a new cyber liability product for SMEs and smaller corporates.
Barnett Waddingham swoops at Soc Gen for insurance boss
Consultancy Barnett Waddingham has recruited from French investment bank Societe Generale for a new head of insurance consulting.
Internal frontrunners for AIG job touted
Two internal candidates have been touted to take over from AIG president and chief executive Robert Benmosche following the announcement of his expected departure early next year.
Perils raises property loss estimate for windstorm Tini to £206m
Catastrophe data firm Perils has raised its estimate for the property insurance market loss emanating from windstorm Tini to €253m (£206m).
Jelf sees 14.6% increase in insurance business revenue
Broker Jelf has reported a 14.6% increase in revenue for its insurance business to £26.8m (2013: £23.4m) for the six months ending 31 March 2014.
Southern Rock reports £8.7m profits for 2013
Southern Rock Insurance has announced post-tax profits of £8.7m for the year ended 31 December 2013 attributing its move away from Brightside as a factor in improving the company's performance.
Heavy rain kills 21 and causes disruption in China, Macau and Hong Kong
Four days of heavy rain in China, Macau and Hong Kong, killed at least 21 people, flooded many areas, disrupted flights and train services.
Brightside shares boosted by Bidco deal
Shares in Brightside were trading 27.15% up at close of markets yesterday following news of its imminent acquisition by Belvedere Bidco.
More M&A activity predicted for 2014 as UK leads the way in Europe
Mergers and acquisitions completed within the UK insurance market last year dwarfed similar deals in the rest of Europe, according to Grant Thornton, which is predicting more acquisitive activity in 2014.
QBE's Fitzpatrick to join Ascot
Ascot Underwriting has appointed David Fitzpatrick as executive underwriter for international casualty.
Geneva Association zeroing in on social value of insurance
The Geneva Association is conducting research on the social and economic value of insurance, according to its annual report.
Warmelink rejoins Towers Watson in Hong Kong
Towers Watson has appointed Marco Warmelink as regional director of its risk management practice for Asia-Pacific.