News
Watson to remain as Canopius CEO ahead of Sompo-backed M&A activity
Canopius chairman Michael Watson will not look to replace outgoing chief executive Inga Beale and will instead occupy the role himself on a permanent basis as he eyes acquisition opportunities under the ownership of NKSJ Holdings’ Sompo Japan.
Women not shopping around despite premium rises, claims survey
Women have reported a 12% price increase on their motor insurance following the introduction of the Gender Directive 12 months ago, Consumer Intelligence has found.
Flood victims face health risks due to drying delays
Hundreds of flood victims are waiting over a week for contractors to begin drying work on flooded properties, one of the technical committee of the new PAS 64 standard on flood damage restoration has claimed.
Turvill to continue as NED after retiring as Willis International chair
Willis International chairman Sarah Turvill will step down from her role at the end of the year before taking on a non-executive director position on the board.
ABC Home product launches on Berkley Alexander panel
LV Broker’s ABC home insurance product has been launched on the Berkley Alexander Quote & Buy panel.
Hiscox merges UK & Ireland and Europe businesses
Hiscox is to merge its UK and Ireland business and its European operation into one unit entitled Hiscox UK and Europe.
External candidate expected to replace Lee at RSA as sale speculation mounts
Analysts say firm could seek to raise capital by selling international operations
London market set for further broker M&A
Mergers and acquisitions among London market insurance brokers are likely to increase in 2014 according to Deloitte.
Industry divided over Competition Commission’s motor recommendations
CC cost-cutting suggestions include banning credit hire referral fees
Lloyd’s first-ever female CEO Inga Beale signals new era for insurance industry
Canopius CEO’s experience makes her ‘ideal’ replacement for Richard Ward
Sompo agrees deal for Canopius
Japan’s NKSJ Holdings has agreed a deal to acquire 100% of the shares of Canopius Group via its insurance subsidiary Sompo Japan Insurance.
FCA urged to probe premium finance arrangements after TCF accusations
Whistleblower says ‘nearly all’ big brokers are shortchanging their customers
Indonesia to roll out world's largest healthcare scheme
The Indonesian government alongside state-owned insurers will roll out an ambitious healthcare scheme for over 100m people starting in January.
Capita launches Lloyd's Singapore policy and cash management platform
Capita Insurance Services has launched the first market service for the Lloyd's community in Singapore which will help brokers and managing agents with their policy administration.
Lark buys £40k CR Goddard book
Lark has purchased a small book of predominantly private client business from East Sussex broker CR Goddard.
Chris Wood to retire from Chaucer aviation post
Peter Wakefield has been appointed Chaucer aviation division head following the retirement of Chris Wood.
RSA’s A- S&P rating “seriously at risk”
RSA may be facing a further downgrade from rating agency Standard and Poor’s putting the insurer’s most significant operations outside the range of many of its business partners.
Biba welcomes CC recommendations on most-favoured nation clauses
The British Insurance Brokers’ Association has welcomed the Competition Commission's move to act on “anti-competitive” most-favoured nation clauses.
KPMG: Competition Commission reforms superseded by price battles
A combination of technological change and competitive market forces will likely exert greater pressure on the cost of motor insurance than reforms proposed today by the Competition Commission, according to KPMG.
Gallagher acquires Bergvall Marine
Arthur J. Gallagher has acquired Norway-based marine broker Bergvall Marine for an undisclosed fee.
Mobile phone cover complaints down 20%: Ombudsman
Complaints on mobile phone cover have dropped by a fifth for the year to date according to the Financial Ombudsman Service, which has paid tribute to willingness from insurers to collaborate on complaints.
Novae plays down speculation of imminent Antares deal
Novae has attempted to pour cold water on speculation linking the firm with a bid for fellow Lloyd’s player Antares by stating that “there is no certainty” of a deal taking place.
Zenith teams with Broker Direct on household cover
Broker Direct has inked a deal for Zenith to underwrite all of its Home Options business from 2014.
ABI boss claims CC findings on motor repairs contain 'fundamental flaws'
The Competition Commission’s findings on vehicle repair is at odds with insurers’ own complaints data, the Association of British Insurers has claimed.