News
Beale, Tulloch appointed to UN and World Bank Group-backed steering committee
Lloyd's CEO Inga Beale and Aviva global chairman Maurice Tulloch have been added to a committee guiding the United Nations and World Bank Group-backed Insurance Development Forum.
Charles Taylor Managing Agency appoints Ajay Gupta as CUO
Charles Taylor Managing Agency has appointed Ajay Gupta as chief underwriting officer and board director from Mitsui Sumitomo Insurance Underwriting.
Motor helps Ageas UK’s COR to stay below 100
Ageas UK has reported a 99% total combined ratio (Q1 2015: 99.7%), driven by improved motor COR of 98.7% (Q1 2015: 106.4%), but other non-life ratios were weaker compared to this time last year.
LMA adds four to board
Four candidates have been elected to the Lloyd’s Market Association board, including several C-suite level executives.
Zurich hires from QBE for senior Australia claims role
Zurich has appointed Hilary Bates as chief claims officer for Australia and New Zealand.
Moreau to leave Axa in June
Nicolas Moreau, chairman and CEO of Axa France, is to leave the insurer on 30 June after 25 years.
Facebook investors back claims fraud detection start-up
An early Facebook investor has ploughed $10m (£6.8m) into a tech startup that uses artificial intelligence to detect fraudulent insurance claims.
Bluefin replaces Longhurst with internal promotion
Bluefin has internally promoted Neil Forsyth to fill the role left vacant by Paul Longhurst, who has joined Towergate.
Lloyd’s CRO Sean McGovern joins XL Catlin
Lloyd’s chief risk officer and general counsel Sean McGovern has joined XL Catlin as chief compliance officer and head of regulatory and government affairs.
Aviva seals exclusive deal with digital incubator Founders Factory
Aviva will be the exclusive financial services partner for digital accelerator and incubator Founders Factory over the next five years.
Legislative support extended to driverless cars
Autonomous cars have gained legislative backing in the Queen’s Speech today (18 May) as insurers hail the innovation as doing more to save lives than seatbelts.
UK motor prices to remain flat in 2016, as insurers drive competition
Increasing competition from insurers will cause prices for UK motor insurance to stay flat throughout 2016, according to a Macquarie report.
Towergate hires Bluefin broker boss for ‘firepower’ in London market
Bluefin London market guru Paul Longhurst has been poached by Towergate to “breathe fire power” into the company’s business.
Colosso takes up third NED role at Lancashire Holdings
Former CEO of Howden UK Adrian Colosso has taken up a role as non-executive director for Lancashire Holdings.
Lloyd's Chairman: No 'regulatory nirvana' from Brexit
Leaving the EU won’t result in a “regulatory nirvana” for the insurance industry, Lloyd’s Chairman John Nelson said in a speech.
Icahn ups stake in AIG by 5.2%
Regulatory filings show activist investor Carl Icahn has increased his stake in AIG.
Axa tops broker survey
Broker network Brokerbility has placed Axa in pole position in its latest biannual survey.
Cyber costs could be offset against IPT: report
A report into the state of cyber resilience raises the possible benefits of industry-specific tax breaks for companies investing in cyber measures, with the report from lobby group The City UK and Marsh stating industry should explore this with…
AIR Worldwide estimates Alberta fire insured losses at over £2.4bn
Catastrophe modeling firm AIR Worldwide is estimating between C$4.4bn (£2.4bn) and C$9bn (£4.8bn) of insured losses for this month's huge Alberta wildfire.
Rapid rise of urban populations driving climate change risk, says World Bank
Assets worth $158 trillion (£109 trillion) could be at risk from river and coastal flooding by 2050 unless more is spent on disaster mitigation according to the World Bank.
Dual appoints Mark Hudson as CFO
Dual has hired Mark Hudson as chief financial officer, effective from September 2016.
Claims management company fined £250,000 by ICO after making 17.5m nuisance calls
Blackburn-based Check Point Claims has been fined £250,000 by the Information Commissioner’s Office, which launched an investigation following 248 complaints.
Allianz’s commercial COR stronger than personal as restructuring continues
Allianz has reported an 89.9% combined ratio in commercial for Q1 2016 but despite improvements, its personal lines COR remains over 100 at 101.2% (FY 2015: 106%).
ASR aims to launch IPO in Q2 2016
Dutch insurer ASR has confirmed its intention to proceed with an IPO and listing of its ordinary shares on Euronext Amsterdam.