News
Brexit too risky with no insurance policy against it, says Aviva boss
Britain leaving the European Union is not worth the risk when assessing the economic impacts, according to Aviva group CEO Mark Wilson.
Brit-led commercial aviation consortium launches
Brit has launched a Lloyd's consortium for commercial general aviation with capacity also provided by Kiln, Hiscox, Apollo and Pritchard.
Marketform disposes of two books to Beazley
Lloyd's underwriter Marketform has sold its UK open market medical malpractice and UK and international delegated authority insurance businesses to Beazley.
Perils increases loss estimate for Storms Eva and Frank
Catastrophe data firm Perils has revised the loss to the property insurance market caused by Storms Eva and Frank to £578m from its initial estimate of £526m.
Lowest investment returns since 2001 'biggest reason' for Lloyd’s profit fall
Lloyd’s finance director John Parry said the market’s lowest investment returns in 14 years was the main factor behind its £900m profit plunge in 2015.
Highbridge investment returns Broker Network to its 'roots' claims boss Fairchild
Highbridge's majority stake acquisition of Broker Network brings it "back to its roots" as an independent network for independent insurance brokers, according to CEO Andy Fairchild.
Towergate's Ross takes acquisitions off table for at least 12 months
Towergate will not look to make any acquisitions for at least 12 months and then only if it can genuinely make those firms better, according to CEO David Ross.
Career Development: Markel launches new recruitment programme
Markel International has launched a new recruitment programme for graduates, interns and school-leavers
Barbican looks to Capita for MGA MD
Barbican Insurance Group has appointed Capita Managing Agency CEO Iain Bremner as managing director of Barbican Managing Agency.
Broker Network CEO says Highbridge deal keeps it independent
Broker Network CEO Andy Fairchild, pictured, said Highbridge’s majority interest acquisition of £46m into the firm is important for ensuring its independence.
Towergate appoints Atrium founder Christine Dandridge to board
Towergate has appointed Christine Dandridge, the founder and former executive director of Atrium Underwriting, to its board as a non-executive director.
Lloyd’s posts £900m profit plunge in 'undeniably tougher' market
Lloyd’s has reported a drop in pre-tax profit to £2.1bn for 2015, from £3bn the previous year.
Towergate sells majority interest in Broker Network for £46m as broker posts £36.4m EBITDA loss
Towergate has agreed to sell a majority interest in Broker Network to its backer Highbridge for £46m, while reporting what CEO David Ross called a 'robust' income of £353m.
Video: Expertise from A-Z with Stuart Toal
With the casualty market affected by claims inflation and periodic payment orders, is casualty insurance still an attractive option for insurers?
CMA healthcare report predicts London competition unlikely until 2022
Bupa UK has asked the Competition and Markets Authority to rethink its Private Healthcare Remittal report, released today (22 March), in which it predicts further competition in the London healthcare market will not materialise until 2022.
DLG's Geddes gets 2.5% pay-rise for 2016
Direct Line Group CEO Paul Geddes is to receive a 2.5% increase in his base salary for 2016 to £794,000.
Kane to sell ILS administration and captive management business Artex
Global insurance management firm Kane will sell its captive management and insurance linked securities administration business, Artex Risk Solutions.
#postpeople 22-28 March
All the latest insurance industry market moves between 22 and 28 March 2016.
Brexit offers UK insurers respite on ECJ VAT ruling for outsourced claims
UK insurers are facing significant increases to the cost of outsourced claims handling if the government is forced to align its VAT position to a recent European Court of Justice ruling, but the June vote on whether the UK should leave the European Union…
FCA regulation of credit hire firms touted as CMCs fall under its remit
Industry commentators have backed the future Financial Conduct Authority oversight of claims management companies, announced in the 16 March Budget, alongside suggestions a similar regulatory framework should be adopted for credit hire companies.
Former Ageas CEO Smith joins Uinsure
Barry Smith will join Manchester-based general insurance provider Uinsure as non-executive director, following his departure from Ageas in October last year.
Budget 2016: Latest IPT rise could ‘interfere’ with Flood Re’s primary objectives
Commentators warn it is paramount that people are not dissuaded from taking out policies
Budget 2016: Corporate tax changes aimed at banks could impact insurers offsetting losses
Insurers hit by rises in claims as a result of the recent floods and increases in insurance premium taxes will also now face corporate tax changes that will affect them offsetting losses.
Budget 2016: Safe Harbour lanes mooted as UK shifts gears on autonomous vehicle investment
A £15m ‘connected corridor' from London to Dover, driverless car and truck platooning trials were all outlined as part of the 2016 Budget in a move to retain the UK's position in the market.