News
EISL director fined by FCA for fraudulent NCD forms
EISL director Philip Eley has been fined £7200 by the Financial Conduct Authority and banned from working in his approved capacity by the regulator.
Brit IPO raises £240m for shareholders
Lloyd’s insurer Brit has priced its shares at 240p each as part of its IPO which has raised around £240m for shareholders.
Singapore consults on risk-based capital
The Monetary Authority of Singapore has launched a second consultation on a risk-based capital regime.
VRS Vericlaim relocates London HQ in expansion drive
VRS Vericlaim has moved to a new London site more than double the size of its previous headquarters.
Colosso first name on Biba advisory board to replace LMRC
Howden chief executive Adrian Colosso will form part of a British Insurance Brokers’ Association advisory board that is being set up to replace the London market region committee.
Go Skippy Commercial re-brand triggers £8m plus GWP target
The re-brand of Arron Banks start-up Go Skippy Commercial to Business Choice Direct was completed in a bid to bolster plans to achieve in excess of £8m gross written premium and 10 500 policyholders by the end of 2014.
Innovation Group unveils new UK property management team
Innovation Group has revealed its new UK property management following its acquisition of LAS.
Ageas and Broker Network sign five-year deal
Independent broker organisation Broker Network has signed a five year strategic partnership deal with insurer Ageas.
Only 2% of insurers ready to implement Pillar 3
A PWC poll has found 68% of insurers are less than halfway through the Pillar 3 reporting process for Solvency II.
Generali expands Asia-Pacific business with Mitsui tie up
Italian insurer Generali has completed a deal to expand its operations in Asia and Oceania in partnership with Mitsui Sumitomo
Xchanging unveils iPad claims service
Xchanging has launched a new suite of tools to provide claims agreement facilities directly from an iPad.
Helios boosts syndicate profit forecasts
Helios Underwriting has increased forecasts for syndicate profits for 2011 and 2012, adding an additional £300 000 of profits to the mid-point of forecasts.
Ecclesiastical promotes Campbell to CFO
Specialist insurer Ecclesiastical has promoted its finance director to a new role as chief financial officers, subject to regulatory approval.
Video - Octo Telematics: Telematics: A niche for young drivers?
Telematics began its journey in the specialist niche of young drivers. But is predicted to move into the mainstream in the future.
Court injunction out on two Hong Kong brokers
Two brokers stole confidential information in a systematic way before joining another broker in Hong Kong, according to a senior market source
M&A more attractive than start-ups in Asia, says Towers Watson
According to consultancy Towers Watson regulatory restrictions make insurer acquisitions more attractive than start-ups in Asia.
Lack of flight data from MH370 could impact claims payouts
The disappearance of Malaysia Airlines flight MH370 should deliver a wake up call to insurers on the importance of external data collection, a specialist aviation barrister has said.
Lloyd’s forecasting tough 2014
A combination of high catastrophe claims and weak investment income has led Lloyd’s to forecast a challenging 2014 for the market in spite of today announcing a £3.2bn profit.
Calls for debate on scrapping of low value PI payouts branded 'cynical'
Law firm Simpson Millar has described suggestions emanating from the Association of British Insurers that cash payouts for low value personal injury claims should be scrapped as “very worrying”.
Swinton restructures regional network
Swinton Commercial has restructured its regional network splitting it into three new geographical areas and appointing three regional managers.
Seventeen arrested in credit hire crackdown
Seventeen people suspected of credit hire fraud were arrested in raids across England on Wednesday morning.
CII launches introductory broker exam
The Chartered Insurance Institute has unveiled a new certificate level exam as an introductory qualification.
Specialist MGA appoints Charles Taylor as service provider
Charles Taylor Insurance Services has been appointed to provide services to managing general agency Hunter George & Partners.