News
FP Marine buys rival broker in Hong Kong
FP Marine Risks, which is 55% owned by Hyperion, is in advanced negotiations to acquire the assets and staff of Risk Exchange a marine broker also based in Hong Kong.
Zurich job cuts to 'primarily impact' Switzerland, UK and Ireland
Following this week's announcement that Zurich is cutting 800 jobs, a spokesman has confirmed that the primary locations impacted by the changes will be Switzerland, the UK and Ireland.
Thomas named Asia head of claims at Willis
After 11 years Neil Thomas has moved from Willis' energy and property claims team to become head of claims, Asia at the international broker.
XCS boss talks up Lloyd's future as rivals eye volume claims share
Xchanging Claims Services boss Paul Bermingham has moved to underline his firm’s continued prominence in the Lloyd’s market and accused rival claims operations of attempting to undermine XCS’s position.
Omnibus II passed by European Parliament
The final obstacle to Solvency II implementation looks to have been passed after the European Parliament adopted the Omnibus II Directive today.
ABI calls for market specific look into add-ons
The Association of British Insurers has criticised today’s Financial Conduct Authority report into general insurance add-ons as being “generic” and is calling for the regulator to take a market specific approach.
More self-insurance schemes likely after FCA add-ons report
The Financial Conduct Authority report released today on general insurance add-ons could see the establishment of alternative forms of self-insurance, according to EY.
Charles Taylor appoints three to London energy team
Charles Taylor Adjusting has made three appointments in its London energy loss adjusting team including Mike Riley as energy director.
Equinox appoints Joseph as senior credit analyst
Equinox Global has appointed John Joseph as a senior credit analyst in its London office.
FCA must pursue ‘big boys’ first on add-ons
A compliance expert is calling for the Financial Conduct Authority to pursue the “big boys” first on general insurance add-ons mis-selling and demand retrospective action where mis-selling has taken place.
Esure posts 89.7% COR for 2013
Esure group posted a 2.5% rise in profit before tax to £118.4m in its first year as a listed company.
FCA plans overhaul of GI add-ons market
The Financial Conduct Authority has unveiled a shake-up of the £1bn general insurance add-on market after a study delivered a damning verdict on the level of competition within the sector.
Zurich to cut 800 jobs globally
Zurich is looking to cut 800 jobs across its global operations as the insurer looks to reduce costs and save $250m annually.
Allianz's Asia-Pacific arm hit by stronger euro
Allianz's insurance unit across 14 countries in Asia-Pacific saw revenues and profits fall as the euro appreciated against Asian currencies.
Ace integrates claims and underwriting information online
Insurer Ace is integrating its claims and underwriting information on an internet-based system accessible on tablets.
60 Xchanging claims roles in redundancy consultation
60 claims staff on Xchanging’s property, binding and reinsurance teams have been put at risk of redundancy in a consultation process due to run to the end of June.
Allianz on cover for missing Malaysian Airlines flight
Allianz has confirmed that it is the lead insurer for Malaysia Airlines, the company whose flight MH370 disappeared on Saturday.
QBE looks to Ace for client engagement hire
QBE has appointed Jeff Carr as head of client engagement and multinational.
Biba renews scheme deal with Perkins Slade
The British Insurance Brokers’ Association has renewed its credit management and bonds scheme with Perkins Slade.
GAB loses out on Lloyds Bank claims contract
Lloyds Bank has decided against renewing a claims contract with GAB Robins, moving all overflow business over to Crawford, Post can reveal.
Axa to grow PI share to £25m through regional underwriting
Axa has begun recruiting specialist regional underwriters as part of plans to grow its professional indemnity book to £25m.
Avantia completes £57m MBO for 'aggressive' growth plans
Online property insurer Avantia has completed a £57m management buy-out backed by private equity firm ECI Partners.
Markel launches online collectors policy
Markel UK has launched an art and collectables product which will be available through its online broker trading platform.
Bluefin grows sports, commercial units with double purchase
Bluefin has swooped for two brokers, adding to its sports and commercial divisions.