News
Hong Kong Computer Society launches financial technology group
The Hong Kong Computer Society is to launch the Financial Technologies Special Interest Group in Hong Kong.
Biba Manifesto 2015: Breaking news
The Post team brings you the breaking news on the British Insurance Brokers' Association's Manifesto 2015 as it launched at parliament on 19 January.
Carrot teams up with Fiat to launch young drivers product
Telematics provider Carrot Car Insurance product director Ed Rochfort believes the convergence between manufacturers and the provision of insurance “will continue to gather pace” after unveiling a new product alongside Fiat.
Hyperion to focus on organic growth as it ‘beds down' acquisitions
Hyperion is to focus on organic growth in 2015 as it concentrates on integrating the 12 acquisitions completed globally in 2014, according to CEO David Howden.
Pool Re reportedly weighing business interruption changes
UK terrorism insurance scheme Pool Re is reportedly evaluating changes to business interruption cover in the aftermath of the Charlie Hebdo killings in Paris.
FCA suggests FSCS management levy to drop 7.4%
The Financial Conduct Authority is consulting on the Financial Services Compensation Scheme's proposed management levy for the next financial year which would see an overall 7.4% reduction in expenses.
Insure the Box sale highlights threat of manufacturers to motor insurers
Motor manufacturers are primed to “take the motor insurance market by storm”, according to market insiders, who have highlighted the sale of Insure the Box as a wakeup call to the threat manufacturers represent to insurers.
Solvency II Delegated Acts brought into force
The Solvency II Delegated Acts were entered into force on 18 January in a move Insurance Europe has called an important step forward in the implementation of the regulatory regime.
ABI pushing for annual £1bn flood defence spend in new campaign
The Association of British Insurers is calling for an annual £1bn investment in flood defences by 2025 as part of its Flood Free Homes campaign, launching tomorrow (20 January) at Westminster.
IFoA suggests ABSs could replace CMCs in driving claims costs
The number of claims management companies operating across the UK has decreased by 35% over the past year, according the Institute and Faculty of Actuaries.
Nexus grows capacity for 2015
Managing general agent Nexus Underwriting Management Group has secured increased capacity across its core specialty lines for 2015.
R&Q completes transfer of Danish marine business
Randall & Quilter has completed the portfolio transfer of Tryg Forsikring AS's discontinued marine business to R&Q Insurance (Malta), the group's EU run-off consolidator.
Hyperion's revenues leap 19% to £199m
Hyperion Insurance Group saw revenues jump 19% to £199m for the 12 months ended 30 September 2014.
JLT joint venture eyes India as South Asia hub
Joint venture JLT Independent Insurance Brokers in India could become hub for South Asia.
Quindell deputy chair quits Financial Reporting Council
Quindell’s newly appointed deputy chairman has resigned his position on the Financial Reporting Council with immediate effect.
Airmic welcomes Insurance Bill warranty amendment
Risk management association Airmic has welcomed the reinstatement of a clause in the Insurance Bill that means insurers can deny cover for warranty breaches only if they are relevant to the risk.
Towergate confirms £1 creditor bid
Towergate has confirmed receipt of a bid from debtholders to buy the embattled broker for its total debts and interest, plus £1.
Money Supermarket sees revenues jump 10% in 2014
Price comparison website Money Supermarket expects to report a 10% increase in revenues to £248m for the 2014 financial year, with adjusted Ebitda expected to grow by 13% to approximately £95m.
Reserve Bank of India confirms bank broker rules
Banks wanting to take up insurance broking have been given the green light by the Reserve Bank of India after legislation passed in 2013.
QBE's outlook revised to stable
Australian (re)insurer QBE's ratings outlook has been upgraded after taking a number of capital measures.
Sydney hostage siege declared as terrorist act
The hostage crisis that left two dead in central Sydney on 15-16 December has been declared a terrorist act meaning insurers will pay compensation to businesses.
Zurich CRO calls on regulators to boost innovation
Financial regulators need to encourage innovation, rather than stifle it, in order for companies to respond to high-level global risks, according to Zurich's chief risk officer.
Insurers urged to look beyond underwriting when assessing telematics benefits
Insurers are squandering the benefits of greater data access by failing to recognise benefits beyond underwriting, according to Wunelli director Sandy Dunn.
International conflicts biggest threat to global stability
The biggest threat to the stability of the world in the next 10 years comes from the risk of international conflict, according to the 10th edition of the Global Risks report published by the World Economic Forum.