News
Quindell CEO plays down Terry’s share sale
Founder Rob Terry’s sale of 5% of Quindell’s total share capital has been played down by CEO Robert Fielding, despite the troubled firm’s share price dropping by a third over 24 hours.
Ageas secures £150m RBS loan for retail restructure
Ageas has obtained a loan of £150m from RBS Invoice Finance to help it restructure its retail business as announced in its Q3 results.
Capita seals three year Hiscox outsourcing contract extension
Hiscox has signed a three year contract renewal with outsourcer Capita Insurance Services.
RSA marine liabilities boss Hart joins Skuld as class underwriter
Marine insurer Skuld has appointed RSA’s Nick Hart as marine liability class underwriter.
Debenhams signs three year car insurance deal with Eldon
Eldon Insurance has agreed a three year partnership deal with Debenhams Retail that will result in the Newcastle-based firm providing car insurance for the retail firm.
Now Health appoints managing director in Beijing
Now Health has appointed Patrick Meng as director and general manager of Now Health’s Beijing branch.
Brisbane hailstorm insured costs rise to A$804m
November's powerful hailstorm in Brisbane has cost insurers and reinsurers A$804m ($669m/£426m) so far.
Founder Rob Terry dumps 5% of Quindell shares
Quindell’s founder and former chairman Rob Terry has offloaded a large swathe of his holdings in the firm over two weeks, with his stake dropping to below 3%.
Risk managers absent at two thirds of mid-sized manufacturers
Two thirds of mid-sized manufacturing businesses do not have a senior employee responsible for risk management, according to Zurich research.
FCA apologises after life insurance probe
The Financial Conduct Authority has formally apologised following the publication of a damning investigation into its handling of a proposed thematic review into life insurance.
Russia deemed a 'grave source' of political risk uncertainty for 2015
Risk analyst Verisk Maplecroft has flagged Russia as a "grave source" of political risk uncertainty for 2015 with a high risk the Russian government will attempt to maintain its authority through external conflicts.
ABI demands clarity on long-term flood defence plans
The Association of British Insurers has called for more information on flood defence spending to allay fears of repercussions impacting Flood Re.
Fraud a bigger concern among EMEA financial firms than global counterparts
Europe, Middle East and Africa based financial institutions are more concerned about risks related to fraud and employee dishonesty than their global counterparts, according to a study by Aon Risk Solutions.
Innovation Group restructures UK motor division
Innovation Group has consolidated its four UK motor brands, Crashworth, Gemini, Nobilas and Motorcare, to form a new division called Innovation Group Motor UK.
Former Gallagher Insurance Solutions MD follows Wallin to Brightside
The former managing director of Gallagher Insurance Solutions has been named as Brightside’s new commercial director, following the retirement of founder Paul Chase-Gardener.
XL launches exhibition financial loss product in UK
XL Group has launched its product for financial losses resulting from cancelled or abandoned fine art exhibitions in the UK.
Video: Managing General Agents' Association managing director Peter Staddon
Managing General Agents' Association managing director Peter Staddon talks to Post reporter Katie Marriner.
Hertzell seeking wide range of industry experts for fraud taskforce
The government taskforce set up to tackle insurance fraud will include a small number of senior representatives from the wider insurance industry, Law Commissioner David Hertzell has confirmed.
Chase Templeton premium income moves north of £100m with triple purchase
Private medical insurance specialist Chase Templeton has concluded 2014 by tying up a trio of acquisitions that are expected to generate £2m in annual premium income.
Confused targets ghost brokers in fraud project
Ghost brokers and organised fraud networks will be the initial focus of the Confused and Experian partnership to understand fraud at point of quote.
Flight MH17 wreckage arrives at Dutch airbase ahead of probe
Wreckage from the ill-fated Malaysia Airlines flight MH17 will be reconstructed after being transported to the Gilze-Rijen airbase in Holland as part of a probe into what brought the plane down.
Crawford hit with CMA enforcement order regarding GAB deal
The Competition and Markets Authority has launched an investigation into whether Crawford and Company’s acquisition of fellow loss adjuster GAB Robins will serve to diminish competition in the UK.
UK General completes Clydesdale-backed refinancing after handing more power to MDs
Leeds-based insurer UK General has refinanced debts with Clydesdale Bank in a bid to better position the business for growth after handing more power to its schemes, rural and commercial managing directors.
Insurers seek to replace Aviva at major Singapore bank
At least five insurers are attempting to win a contract to sell insurance and wealth management products to Singapore bank DBS's clients.