News
Aon international broking revenue falls 10% to $2.76bn despite organic gains
Aon has today reported its international broking arm – which includes the UK – saw revenue fall 10% to $2.76bn (2014: $3.05bn) in 2015. A figure that jumps to 12% less currency impact.
Chubb Global Markets appoints marine team leaders
Chubb Global Markets has confirmed the appointment of Mark Edmondson and Mike Reynolds as the leaders of its marine team, with immediate effect.
Biba reveals keynote topics for Manchester 2016 conference
Brexit and terrorism threats are the topics of the opening and closing keynote debates at the British Insurance Brokers' Association's 2016 conference to be held in Manchester on 11 and 12 May.
James, Maidment and Swatman elected to Council of Lloyd's
Lloyd’s has confirmed the election of three new members to the Council of Lloyd’s.
Allied World CEO bemoans ‘challenging year’ as 2015 profits plummet
Global insurer Allied World recorded a significant fall in net income from $490.3m (£337.6m) for the full year in 2014 to $83.9m in 2015.
Flood losses caused by storms Eva and Frank hit £526m
Insured property market losses resulting from flooding caused by storms Eva and Frank in December and from further low pressure systems last month totalled £526m, according to the catastrophe insurance data firm Perils.
UK General signs three-year capacity deal with Great Lakes
UK General has signed a three-year capacity agreement with Munich Re subsidiary Great Lakes Reinsurance (UK), which replaces Ageas as UK General's major capacity provider.
Tianjin claims expected to rise above $5bn, says IUMI
Insurance industry losses from the explosion at China's Tianjin port could rise above $5bn (£3.43bn) according to an industry expert.
Chubb names Continental Europe country presidents
Chubb has named the leaders of its operations in Continental Europe, reporting to Continental Europe division president Jeff Moghrabi.
Industry urged to flag implications of stricter health and safety rules
Allianz Commercial has highlighted the role of insurers and brokers in ensuring clients are fully aware of their health and safety responsibilities in light of the introduction of stricter sentencing guidelines.
Fundamentally dishonest pair added to IFR over £50k Axa claim
A fraudulent induced accident claim against Axa worth almost £50,000 has been thrown out after a Birmingham County Court judge concluded that the claimants were fundamentally dishonest in their testimony.
Colosso returns to the market in City Net boardroom role
Former Howden CEO Adrian Colosso has joined the board of Lloyd’s wholesale broker City Net as a non-executive director, Post can reveal.
LV launches bespoke motor trade claims team
LV Broker has brought its commercial motor trade and combined motor trade claims teams under one roof with a new bespoke team based at the insurer's Croydon office.
Beazley reports 87% COR as it prepares for London HQ move
Lloyd's insurer Beazley saw its profits and gross written premiums increase for the year ended 31 December 2015 while its combined operating ratio improved to 87% (2014: 89%).
Munich Re releases €1.4bn of reserves as it records €3.1bn profit despite Ergo struggles
Munich Re this morning reported a consolidated profit of €3.1bn (£2.5bn) (2014: €3.2bn) for 2015 on gross written premiums of €50.4bn (2014: €48.8bn).
CII's Fisher to tackle direct personal lines and independent broker professionalism
Direct personal lines and the independent broker sector are two areas where new CEO Sian Fisher will aim to raise the professional agenda after taking up her new role this month.
AA underwriting arm opens for business targeting 250,000 customers and telematics
The AA's new Gibraltar-based insurance company has opened for business targeting a quarter of a million policyholders.
Wipro beats out 20 to win RSA IT infrastructure contract
RSA has awarded Winpro the contract to deliver its infrastructure requirements across the UK, Ireland and Scandinavia.
Blatt, Chung and Lee to leave QBE in Hong Kong
Three senior managers in Hong Kong are set to leave Australian insurer QBE this week.
Aon partners with Catamaran for Indian joint venture
Global broking giant Aon is partnering with technology investment firm Catamaran to establish a broking start-up in India.
Axa invests in 'pioneering' blockchain technology specialist Blockstream
Axa Strategic Ventures, the €230m (£175m) venture capital fund set up by the French insurance giant, has today announced it is co-leading a $55m (£37.5m) Series A funding round for Blockstream.
Gallagher to snub 'major' deals in 2016 and may raise up to £300m from debt markets
Arthur J Gallagher chairman, president and CEO Patrick Gallagher Junior has today said the firm has no “large deals on its plate” and that any buys would be “tuck in” ones.
Towergate hires chief transformation and change director
In his new role, James Barnard will play a key role in driving the change programme seen as pivotal in transforming the broker.
Women of the World festival to feature CII and AIG input
The Chartered Insurance Institute has teamed up with AIG to lead the conversation at the forthcoming Women of the World festival about risks faced by women in society and how the insurance profession can respond.