News
Solvency II safeguards mean no need for EU rule change
The safeguards provided by Solvency II mean that a new EU framework on recovery and resolution for insurers is not required, according to Insurance Europe.
LMG adds marine businesses to PPL platform
The London Market Group’s electronic PPL platform has introduced marine classes for trading.
Post People: 06 - 10 March
People moves from the insurance industry.
PICC's Yincheng resigns
Wang Yincheng, executive director, vice chairman and president of Chinese insurer PICC, has resigned according to the firm.
Berkshire Hathaway hires for Asia expansion
Berkshire Hathaway Specialty has hired two senior insurance professionals as the insurer introduces personal accident to Hong Kong and Singapore.
Allianz's Asia P&C profits fell 22% in 2016
Allianz saw P&C profits fall 22% in Asia last year to €58m (£49.5m) from €74m in 2015.
Fosun helps The Floow raise £13m
UK telematics technology provider The Floow has raised £13m for equity investment from a variety of international funds.
Aviva partners with insurtech start-up Hibob
Aviva has signed a deal with insurtech start-up Hibob to better enable SME clients to set up workplace pension schemes.
SSP invests in ‘multimillion’ upgrade to troubled Pure platform
SSP will release a “multimillion” upgrade to its troubled Pure Broking platform this summer.
March 2017 Post: Census and CII CEO
My one-year-old just started toddling. She was so proud after pushing her walker to the other side of the room that she applauded herself. As a result, she lost her balance and landed on her bum.
Arnott Marine brings cargo MGA back to market
Arnott Marine has relaunched its cargo managing general agent one year after retrieving the brand from AJ Gallagher.
UK businesses to increase cyber security spend
Three out of five UK businesses will increase their cyber security budget in the next year, with more than 20% of those doubling their spending.
Broker Network forms five-strong insurer panel
Broker Network has formed a five-strong panel of insurer partners made up of Ageas, Allianz, Axa, NIG and RSA.
UK General acquired by private equity firm
JC Flowers has acquired UK General from Primary Group for an undisclosed sum.
Asta-managed syndicate reports profit in first year
Dale Underwriting Partners has posted a modest profit in its first year of account, despite “challenging” market conditions.
Former Zurich GI chief becomes Admiral chair
The former CEO of Europe general insurance at Zurich, Annette Court, has been appointed non-executive chair of Admiral.
London market parties trialling Blockchain prototype
A Blockchain prototype will be rolled out as part of the London market modernisation scheme.
Go Compare to invest in start-up insurtech businesses
Go Compare is looking to invest in start-up insurtech businesses to help the aggregator website reach new customers, says CEO Matthew Crummack.
Discount rate cut could benefit Hastings, says CFO
The cut to the Ogden discount rate will benefit “agile players” who procure business predominantly through aggregators, Hastings' chief financial officer Richard Hoskins said.
Higos makes first acquisition following GRP buyout
Higos Insurance Services has made its first acquisition since being acquired by Global Risk Partners.
Ageas to shed 77 roles in broker channel restructure
Ageas will make 77 redundancies across its broker channel in the wake of the discount rate cut.
Gibraltar insurer withdraws £20m UK motor capacity in wake of discount rate cut
A Gibraltar insurer has become the first to withdraw capacity to a UK managing general agent in the wake of the discount rate cut.
FCA sets deadline for PPI claims
The Financial Conduct Authority has put a deadline on payment protection insurance claims, bringing to a close a chapter that has cost firms billions in compensation.
Go Compare demerger resulted in £8.1m hit to profit
The demerger of Go Compare from parent company Esure cost the business £8.1m, causing a drop in profit of 5.2%.