News
Post Blog: Fail to prepare and prepare to fail
The revised deadline for Solvency II compliance for European Insurers is 1 January 2014. Despite the delay in start date, the reality is insurers cannot afford to be complacent with their plans.
Catlin partners with China Re
Property and casualty insurer Catlin has formed a strategic partnership with China Re to establish Lloyd’s syndicate – the first time a Chinese insurer has directly invested in the market.
Ace snaps up former Chubb regions boss
Ace has today unveiled former Chubb Insurance UK regions manager Carolyn Hamilton as the firm’s new corporate risks regional development manager.
Hastings Direct creates Premier brand
Hastings Direct has launched premier car and motorbike insurance products with additional features and benefits as standard.
Jelf signals South East expansion with key appointment
Jelf Insurance Brokers has today announced its intention to establish a footprint in the South East following the appointment of Lee Gwilliam as business development executive for the region.
Amtrust to open office in Italy
Amtrust Europe is to change its operations in Italy and open an office in Milan, following approval from the FSA.
Fitch affirms SOGAZ rating
Fitch Ratings has affirmed Insurance Company of Gas Industry SOGAZ (Russia)’s Insurer Financial Strength rating at ‘BB+’ and National IFS rating at ‘AA(rus)’.
Lloyd's director encouraged by growth of Chinese broking sector
China offers commercial and reinsurance brokers a great opportunity for growth, although the role of local players may ultimately outstrip the international names.
Bancassurance growth outstrips traditional models in Asia
The growth of the Bancassurance model is outstripping that of agents in many parts of Asia according to Joyce Chan.
Chinese motor market tipped to open up to international players
The Chinese motor market could offer great opportunities for international insurers if local legislation is relaxed next year.
Middle East insurance consolidation is inevitable, claims lawyer
It is not of matter of if there will be consolidation in the Middle East insurance market, but when, according to a local legal expert.
FSA bans broker for insurance fraud
The Financial Services Authority has fined broker John Folan £195 117 for insurance fraud and banned him from carrying out regulated financial services activity.
Affinity Select launches household service following PI success
Affinity Select Insurance Services is hoping to “fill a gap” in the household market with the launch of a new service designed to connect customers directly with industry experts.
Actuaries confirm Cribb as CEO
The Institute and Faculty of Actuaries has appointed Derek Cribb as its chief executive. He has been acting chief executive of the professional body, having joined the organisation in May 2010.
Allianz promotes aviation manager to head of broker development
Allianz Global Corporate & Specialty has promoted Zoe Layden to the role of senior broker development manager for the UK business.
Kiln says 2009 improving, but 2010 outlook bleak
Lloyd's insurer J Kiln & Co, part of the Tokio Marine Group, has said in updated forecasts that the 2009 year of account remains on track, with syndicates 510, 557 and 807 showing some improvements.
Perkins Slade bolsters board from within
Broker Perkins Slade has announced three new Board appointments from next year. It is promoting Julia Harrop to be client services director, Mark Ford to the role of broking director and Aslam Ismail will become finance and IT director.
Amlin reports fast rising rates in Q3
Amlin reported gross written premium for the ten months ended 31 October 2011 was up 7.1% at £2 051.9m (2010: £1,916.6m).
Former broker boss launches new network
A former provincial broker is hoping to attract thousands of independent intermediaries to his newly launched network, after claiming the traditional model has reached “saturation point”.
RSA’s Brown promotes European focus as opportunity for UK brokers
RSA boss Adrian Brown has reassured UK brokers that the firm’s recent restructure of its executive team will have no negative impact on domestic commitments.
Merlin confirms approaches after refinancing
Loss adjuster Merlin has admitted to receiving “approaches from interested third parties” about acquiring the firm — just 21 months after it was refinanced by banks.
Stonepoint to reduce interests in Cunningham Lindsey and Lockton
Global claims management group Cunningham Lindsey and broker Lockton International are both looking at options that may see private equity giant Stonepoint Capital divest or reduce its interests in the groups, Post understands.
PSTF: Corporate technology rethink needed
Industry technology systems could become “obsolete” if companies fail to tackle information security fears, while corporate polices on device distribution and responsibility need an urgent rethink, according to expert panelists. The debate at last week’s…
PSTF: Digital channels set to dominate distribution
Insurers must embrace digital channels as the next dominant model for distribution, as the race to secure web-based connections with customers, partners and suppliers gathers momentum.