News
Exor bid raises doubts over £7.3bn Partner Re and Axis merger
The planned merger between Partner Re and Axis Capital could be dashed following a $6.4bn (£4.3bn) bid by Italian operation Exor to acquire the reinsurer.
AM Best opens Singapore office
Ratings agency AM Best has opened its second office in Asia-Pacific after opening one in Hong Kong sixteen years ago.
BPL's Palmer returns to London
The Monetary Authority of Singapore has approved the appointment of Peter Gilbert as Singapore CEO of credit and political risk broker Berry Palmer & Lyle.
Markerstudy tempted by Gibraltar pair before sealing Chaucer deal
Markerstudy was interested in acquiring either one of Gibraltar-based pair Octagon or the now defunct Service Insurance Company before sealing a deal to buy Chaucer's UK motor book.
Willis launches legal proceedings against JLT and FAJS boss Gordon
Willis has commenced legal proceedings against JLT and employee David Gordon a week after JLT Specialty announced the appointment of Gordon and 21 of his Willis fine art, jewellery and specie colleagues.
Scenario testing required as industry concerns over EU exit increase
Insurance firms are being urged to adopt scenario testing from this year in preparation for the proposed referendum on the UK's European Union membership under a future Conservative government.
Brit syndicate growth highlights Lloyd's desirability for M&A buyers
Gross written premium growth experienced by Brit's sole Lloyd's syndicate in 2014 is a marker of the continuing attractiveness of having a sizeable Lloyd's platform for companies seeking a third party buyer, according to market analysts.
NIHL overcrowding leading to claims 'backlog' as new entrants flood market
The noise induced hearing loss arena is producing a logjam of claims and is becoming overcrowded with new entrants, according to members of both the defendant and claimant legal fraternities.
FCA slaps Clydesdale Bank with £20.7m PPI fine
Clydesdale Bank has been fined more than £20.7m for serious failings in its payment protection insurance complaint handling processes; the largest ever PPI-related fine imposed by the Financial Conduct Authority.
Applied Systems relocates Brighton HQ
Applied Systems has relocated its UK headquarters to Invicta House in Trafalgar Place, Brighton's flagship business development centre.
Outgoing MP Evans becomes non-exec chair of Allied World MGA
Veteran parliamentarian Jonathan Evans will take on the role of non-executive chairman of Allied World Assurance’s Lloyd’s managing agency after stepping down as MP for Cardiff North.
Ex-RSA CDO Hood resurfaces in asset management sector
Former RSA chief digital officer Ian Hood has resurfaced in the asset management sector after joining Fidelity Worldwide Investment as head of digital for the UK business.
Dual launches Netherlands marine operation
Hyperion's underwriter Dual has opened its first Netherlands office writing marine and energy lines.
IUA brands Scottish plans to recover asbestos costs 'an abuse of process'
The Scottish government’s proposal to recover medical costs for treating asbestos diseases is unequitable, could prove unlawful and would drive up the cost of liability insurance, according to the International Underwriting Association.
Vienna Insurance Group hails ‘major increase' in profit
Vienna Insurance Group has reported a 46% increase in profits to €514m (£373m) for 2014, as well as reduction in COR.
Hodges appointed British Gas MD
Former Towergate CEO Mark Hodges has been appointed managing director of British Gas with a base salary of £625,000.
Williams to succeed Moorse as Quindell finance boss
Quindell group finance director Laurence Moorse is to step down from the company's board at the completion of sale of the professional services division to Slater and Gordon.
Seasonal competition triggers marginal drop in Q1 motor rates
Motor insurance rates are expected to continue upwards despite a slight reduction caused by seasonal competition during the opening quarter of the year.
Snowball to leave Suncorp in October
Patrick Snowball is set to relinquish his role as CEO of Suncorp in October with Michael Cameron, CEO of property group GPT, replacing him.
Generali hires from Prudential for Asia GI and life role
Generali has appointed Jack Howell as regional officer for Asia after Sergio di Caro was promoted to global head of employee benefits.
Axa expands Singapore post office offering
Axa is to increase its insurance offering to 44 SingPost branches and will include general insurance.
Euler Hermes names new UK CEO
Trade credit insurance firm Euler Hermes has appointed Valerio Perinelli as the new CEO of its UK operation.
Markerstudy GWP to move north of £900m following Chaucer deal
Markerstudy has reached an agreement to acquire Chaucer’s UK motor business in a deal that will extend the insurer’s grow written premium to in excess of £900m and increase its headcount by 430.
Non-Solvency II insurers to avoid PRA regulatory burden
Smaller insurers will not be over-burdened with excessive regulation under the Prudential Regulation Authority's proposals for companies outside the scope of Solvency II, according to market observers.