News
Rival bids for Catlin from Asia and US predicted following XL offer
XL Group’s potential acquisition of Catlin has been billed as positive for both parties, although the bid is expected to flush out interest from Asian and US firms targeting a Lloyd's presence, according to analysts.
Government to make FCA and PRA more accountable
Following a review the government has published a number of recommendations to ensure the way the financial regulators make enforcement decisions continues to be fair, transparent and efficient.
Ace to acquire Fireman's Fund PL business for £234m
Allianz has agreed to sell its Fireman’s Fund Insurance Company personal lines business in the US to Ace for $365m (£234m) by means of renewal rights arrangement.
Government sets March 2015 Budget date
Chancellor of the Exchequer George Osborne is to deliver the final Budget for the current parliament on 18 March 2015.
Most operational losses stem from customer service and policy admin, states report
Customer service and policy administration is the business area where the majority of operational losses were reported by insurance companies over the first half of 2014, according to Oric International.
Band H inclusion deemed ‘common sense' by HNW insurers
The government decision to include high tax band properties in Flood Re is a step towards making the scheme more inclusive, high net worth insurers have claimed.
Axa looks to Hiscox for commercial e-trading role
Axa Commercial Lines and Personal Intermediary has made two appointments to the senior management team of its commercial business.
AM Best dismisses need for rating action on insurers reliant on TRIPRA
The US federal terrorism programme is to expire on 31 December due to the failure of the US Senate to reach an agreement to extend the Terrorism Risk Insurance Protection Reauthorization Act before the adjournment of congress.
Pen teams up with Ageas on online household capacity deal
Ageas has reached an agreement with Arthur J Gallagher managing general agent brand Pen Underwriting to provide long-term capacity for household insurance through a number of online-traded solutions.
Broker Network extends Allianz partnership deal by three years
Allianz has renewed its strategic partnership with Broker Network for an additional three years.
Band H properties to be included in Flood Re
The Department for Environment, Food and Rural Affairs has agreed that band H properties in England and band H and I properties in Wales should be included in the Flood Re scheme.
Bluefin snaps up Yorkshire broker Marchant McKechnie
Bluefin has bought of East Yorkshire broker Marchant McKechnie, taking its total number of acquisitions for the year to five.
Ace hires McWhinney in Singapore
Ace has appointed Wai Lin McWhinney as its head of accident and health and personal and business insurance for Singapore.
Motor premium increases to be reflected in 2015 results
Insurers are unlikely to see any favourable impact from motor premium increases until their 2015 results, according to Towers Watson.
Average UK motor premiums rise 0.3% in November
The average price of a new comprehensive motor policy rose 0.3% to £590 in November; the third successive month of price increases, according to the Towers Watson and Confused insurance price index.
Catlin in 'advanced discussions' to sell Insure the Box
Catlin Group has confirmed it is in advanced negotiations regarding the sale of its interest in Box Innovation Group.
XL Group makes offer for Lloyd's insurer Catlin
Catlin Group has confirmed it has received an approach from XL Group.
Ageas UK agrees new strategic partnership with Virgin Money
Ageas UK and Virgin Money have entered into an agreement that will see both businesses work together to create a range of home and motor insurance products for the UK market during 2015.
Integro snaps up London market bloodstock broker Howard Global
International insurance broker and risk management firm Integro has acquired Howard Global Insurance Services, a Lloyd’s-registered specialty broker.
Fusion hires former Gallagher client money manager
Towergate-owned MGA Fusion Insurance Services has appointed Sharon Welsh as regional operations manager.
XL launches chemical weapons product
XL Group's crisis management team has introduced a product covering chemical, biological, radiological and nuclear events.
A-Plan tipped to build branch network in the north following HG backing
The new financial backing secured by A-Plan reflects a vote of confidence in the branch business model, according to market insiders, who have tipped the high-street broker to build a presence outside its southern stronghold.
Law firm rallying Quindell shareholders for class suit
Law firm Your Legal Friend is encouraging shareholders that have lost money on their investment in Quindell to claim for professional negligence against the outsourcing company's board and advisers.
Gallagher swoops for former Towergate quartet to launch Cornish office
Arthur J Gallagher has opened an office in Cornwall after hiring four former Towergate employees.