News
Customers paying for FSCS levies on brokers via ‘administration’ charges
Contributions to compensation scheme putting strain on brokers’ profitability.
Laurent Matras linked with Jon Dye's Allianz role as rival CEOs praise Torrance
Jon Dye named new UK CEO as Torrance joins Fireman’s Fund Insurance Company.
AGCS targeting Russian growth with new chief
Allianz Global Corporate & Specialty has targeted Russia for growth, appointing its head of underwriting co-ordination in growth markets as country manager for Russia.
PI firms risk being sued if they continue to undervalue serious injury claims
Claims management companies reportedly targeting under-settled claims.
Exploiting referral fee ban loophole ‘against spirit of the law’, say insurers
Epoq among firms criticised for finding a way around Laspo-enforced ban.
Mills & Reeve swoops for DLA Piper insurance team
Lawyers Mills & Reeve has recruited a nine-strong defendant insurance team from DLA Piper for its Birmingham office, effective from 1 July.
Axa to lend €10bn for infrastructure in diversification push
French insurance giant Axa is planning to lend €10n to projects over five years in a bid to expand its infrastructure debt holdings, according to reports.
PICC P&C raises $290m of capital in Hong Kong
PICC Property & Casualty's Hong Kong portion of its rights issue has proved successful.
Heavy rain death toll rises in India
Earlier than usual monsoon rain has killed at least 70 people in India, with the north of the country the worst hit.
Aviva grilled over ABS ambitions
Aviva has confirmed it is not in the process of applying for an alternative business structure after direct questioning by the Transport Select Committee.
Uninsured driver fines will fail, says AA
The government’s plans to increased fines for driving without insurance from £200 to £300 will have little impact on the issue, the AA said today.
UK General makes double regional sales hire
UK General Insurance has hired Jodie Gibbons as regional sales manager for Wales and the South West and Mark Wright to the same role in the North West.
Top 5 European stories
The top five European stories on www.insuranceinsight.com over the past seven days.
Co-op’s stock market plans won’t impact GI sale
The Co-Operative has confirmed its plans to sell its general insurance operation have not been impacted by the decision to float its banking division.
Now health appoints Jørgensen as non exec
International health insurance provider, Now Health International has appointed Per Bay Jørgensen as a non-executive director from July 2013.
Collinson Insurance partners with Avanti
Collinson Insurance Group has been selected as new partner for travel insurance solutions by Avanti Insurance.
CMS appoints new insurance partner
CMS Cameron McKenna has appointed Simon Kilgour as reinsurance partner in a bid to strengthen its insurance and reinsurance group.
Axa to invest €10bn in infrastructure debt
France-based insurer Axa plans to invest €10bn in the infrastructure debt market over the next five years as part of its credit diversification strategy.
HBC Vehicle Services completes MBO from founder Terry Holding
The management team at HBC Vehicle Services has successfully completed a management buyout of the business from founder Terry Holding.
Turkey unrest may not be covered under terrorism policies warns Willis
The on-going unrest in Turkey is leading businesses to consider their insurance options, but selecting the right kind of cover is crucial, according to Andrew van den Born, executive director in Willis’ political and trade credit risks division.
Talanx expects under €250m losses from European floods
German insurance giant Talanx has estimated its net loss from flood claims in Germany and neighboring countries at less than €250m.
Balva told to appoint liquidator following FCMC investigation
Latvia’s Financial and Capital Markets Commission has withdrawn all operating licences for insurer Balva and issued a winding up order for the Riga-based firm.
Balva ordered to wind up operations by regulator
Latvia’s Financial and Capital Markets Commission has withdrawn all operating licences for insurer Balva and issued a winding up order for the Riga-based firm.
Prettejohn to leave Brit
Brit Insurance’s non-executive director Nicholas Prettejohn will retire from the company’s board at the end of June, following his appointment as non-executive director of the Prudential Regulation Authority.