News
Ken Livingstone to open the British Insurance Summit
Former London Mayor Ken Livingstone will deliver the opening address at this month’s British Insurance Summit, Postonline can reveal.
Arc Legal signs Insure for Retirement deal
Legal expenses insurer Arc Legal Assistance has signed a six figure deal to provide cover for policyholders with over 50s specialist Insure for Retirement.
Crawford shakes up management team
As part of the changes Benedict Burke will be moving from his role as CEO, UK and Ireland.
Jubilee celebrates Pearce’s move
Specialist Lloyd’s insurer Jubilee has poached Philip Pearce from AMTrust International Underwriters to be underwriter in its expanding affinity and special risks team.
AIR cuts loss estimates for Irene
Catastrophe modelling firm AIR Worldwide has cut its industry insured loss estimates for Hurricane Irene’s impact in the Bahamas to between $200m $400m (previously $300m to $700m).
RSA’s enhanced motor claims add 25%
Britain’s fourth biggest motor insurer RSA stands accused by a county court judge of artificially inflating repair costs charged to other insurers by more than £2.4m.
Oxford Insurance Brokers moves to London
Oxford Insurance Brokers has transferred Alwen Hough Johnson special lines team and existing portfolio of business to its London office on Lombard Street.
£2m "crash for cash" scam brothers jailed
Two Lancashire brothers who pocketed almost £2m between them from a “crash for cash” scam have been jailed.
Geneva Association appoints actuarial science specialist
Global insurance think tank, The Geneva Association, has appointed Illinois state university Professor, Krzysztof Ostaszewski, as the research director of its life and pensions programme.
Marsh appoints Bill Pieroni as COO
Marsh has named State Farm’s Bill Pieroni as chief operating officer from 19 September.
Flat rates expected in Europe after Monte Carlo meet
Securities and investment banking firm Jefferies anticipates flat rates for Europe next year.
Market moves: Bucking the trend for UK employment
With September in full swing, announcements of moves around the market are arriving thick and fast. After the dearth of recruitment news in August, disciplines across the industry spectrum appear busy luring expertise from competitors, promoting from…
JLT to poach staff from top brokers
JLT boss Dominic Burke has declared open season on poaching top staff from rival firms after a £166m investment from its 30-year backer Jardine Matheson.
Helvetia sells health and accident portfolio
Helvetia Switzerland is divesting itself of its health and accident portfolio.
MYI and Airclaims merge to enhance position in aviation
Loss adjuster McLarens Young International has merged with Airclaims to enhance its position in the aviation market.
Greek government issues second IPT penalty amnesty
The Greek parliament has passed a law that includes a further amnesty provision on penalties for insurance premium tax.
CQS and Lexcel firms secure PII package
CQS and Lexcel firms has today unveiled a new scheme alongside PII broker Hera Indemnity to offer accredited firms the opportunity to reduce their premiums through a panel of qualifying insurers.
AM Best receives European credit approval
AM Best Europe has received formal notice of registration as an approved European credit rating agency under the Credit Rating Regulatory Regime of the European Union.
Willis names new Argentina chief
Broker giant Willis has promoted its Latin America group regional placement officer Seth Peller to be CEO of Willis Argentina, based in Buenos Aires.
RSA launches campaign to change eyesight testing
RSA bosses are calling for sweeping changes to the process behind how driver’s eyesight is tested following the launch of a nationwide campaign to see if motorists are ‘Fit to Drive’.
Industry associations back Government regulation reform
Insurance and broker associations have welcomed the Government’s proposed regulatory reforms in their consultation responses. However, they have also expressed concern its plans could be too “ambitious” and potentially cause delays.
Claims rise as landlords cut maintenance budgets
The proportion of claims made for avoidable incidents such as leaks, burst pipes, frost damage and general wear and tear has increased by 5% since 2008 as tight budgets hit property maintenance by landlords.
Brightside’s H1 pre-tax profit up 80%
Broking group Brightside has reported half-year revenue up 50% to £39.8m (2010: £26.6m) and pre-tax profit up 80% to £7.2m (2010: £4.0m) on the back of its buyout of eCar and eBike.
Jardine Matheson increases JLT stake
Broker Jardine Lloyd Thompson has said its London-listed, Bermuda registered, Chinese founded backer Jardine Matheson is to take an extra 10% of the company for £166.27m.