News
Biba 2017: GDPR will not have drastic effect on cyber insurance
The General Data Protection Regulations will not have as big an effect on cyber policies and the regulator may not enforce it as strictly as expected.
#BibaFever: B-B-Q: The UK insurance industry outlines how the UK can remain competitive post-Brexit
As the British Insurance Brokers’ Association Conference continued in Manchester today the Insurance Post and Insurance Age #BibaFever team went out to grill delegates about the topics that have been getting the tongs (sic) wagging.
Swinton invests £45m in IT and digital distribution channel
Swinton has said it is hoping to transform its distribution model with a £45m investment in IT. This follows a restructure that will shut 84 branches and leave 900 people out of work.
Nigel Farage slams Lloyd's chairman over Brexit warnings
Nigel Farage has criticised Lloyd's of London chairman John Nelson over pre-referendum warnings on the negative impact of Britain withdrawing from the European Union.
Newly-formed Towergate successor to target rapid growth
The as yet-unnamed general insurance group formed out of Towergate and other brokers has ambitious plans to expand its revenue.
#BibaFever: B-B-Q: Aviva, Towergate and Zurich set out insurance industry demands for new UK Government
As the British Insurance Brokers’ Association got underway in Manchester this morning, the #BibaFever team went out to grill senior executives about the issues that matter.
Biba 2017: Warning of 'storm clouds' over future for brokers
Opening the British Insurance Brokers’ Association’s annual conference today, CEO Steve White warned of “storm clouds” on the horizon for the sector.
Ageas UK swings to operating loss in Q1 following Ogden impact
Ageas UK posted an operating loss in the first quarter of 2017 compared with a £21.3m profit in Q1 2016.
Greenberg loses AIG court battle
Maurice 'Hank' Greenberg and Starr International have lost the right to pursue claims over the 2008 US government bailout of global giant AIG.
Willis Towers Watson appoints Houghton in Asia
Global broker consultancy Willis Towers Watson has appointed Matt Houghton as a senior consultant for Asia-Pacific.
Towergate to cut costs by £51m by 2018
Towergate is to cut expenses costs by £51m across the group by the first quarter of 2018, the firm said.
Markerstudy to launch commercial MGA Guild Business Insurance
Markerstudy is set to launch a managing general agent, Guild Business Insurance, for rated commercial products.
BIBA 2017: The conference, as it happened
The British Insurance Brokers' Association held its 2017 conference in Manchester.
Strong investment results bolster Munich Re's Q1 profits
Munich Re saw a 28% rise in profit in the first quarter of 2017, up to €557m (£469.6m) from €436m for the same period in the previous year.
Majority of brokers concerned about Ogden rate decision
More than 70% of brokers are concerned over the Ogden discount rate and the effect it could have on the number of people buying their policies, according to Covea’s latest broker survey.
Broker Network will not rejoin Towergate, CEO confirms
Broker Network will not rejoin Towergate as part of HPS and MDP’s newly formed general insurance giant.
Legal & General appoints Carol Hughes as head of regional broker
Legal & General has appointed Carol Hughes as head of regional broker within its GI division.
Hiscox chooses Luxembourg as post-Brexit base
Hiscox has announced plans to open a European subsidiary in Luxembourg in response to Britain’s exit from the European Union.
Towergate posts profit and revenue growth in first quarter
Towergate has delivered the third consecutive quarter of year-on-year growth as profit and revenue continue to climb in the first three months of 2017.
Towergate backers launch general insurance giant
Towergate backers HPS Investment Partners and Madison Dearborn Partners will consolidate Towergate with Autonet, Chase Templeton, Price Forbes and Ryan Direct to form a general insurance giant.
Perils estimates Cyclone Debbie costs at A$1.12bn
Zurich-owned catastrophe modeler Perils has estimated the insured property market loss from March's Cyclone Debbie is A$1.12bn.
Markel marine underwriter swaps Sweden for Singapore
Markel International Singapore has recruited a marine underwriter from the specialty insurer's office in Stockholm, Sweden.
Salem replaces Harris at AIG Singapore
Claudia Salem has been promoted to CEO Singapore and head of country operations for South East Asia at global insurer AIG.
AI unlikely to wipe out jobs but will have 'significant' impact on insurance industry
Investment into Artificial Intelligence start-ups has gone up by 80% since January last year but there is some time to go before technology wipes out jobs in the industry.