News
14% of EU insurers fail 'baseline' EU stress tests
A test of more than half of Europe’s insurers by market share has found that one in twelve are currently likely to fail to meet solvency capital requirements when the Solvency II regime launches in just over a year.
Former LAS COO Dunworth resurfaces at Direct Line
The former chief operating officer of LAS found a new role helping Direct Line manage its supply chain after nine months out of the industry.
Hastings hires from Allstate for underwriting management role
Broker Hastings Direct has hired Ed Biemer from US giant Allstate in a new role as managing director, underwriting services.
Ace shuffles Australian financial lines team
Insurer Ace has promoted two staff and recruited a former broker in its Australian financial lines division.
Premiums in 'emerging Asia' to grow 12.8% in 2015, says Swiss Re
According to reinsurance giant Swiss Re general insurance premiums in 'emerging Asia' countries are set to grow 12.8% on average in 2015.
Almost 40,000 claims from Brisbane storm
Last week's supercell storm in Brisbane has led to 39,677 insurance claims and will cost insurers over A$200m (£108m).
Markel hires two to financial risks division
Markel has made two appointments in its financial risks division including hiring Catlin's Martin McCarron as financial institutions head.
Towergate bondholders declare support
A group of Towergate’s creditors have declared their support for the embattled business as it seeks to resolve its future.
Brightside tipped to dip into £350m warchest for 2015 acquisitions
Brightside is poised to make multiple acquisitions next year from a £350m fund, according to a well-placed market source.
Four men jailed in Operation Catcher crash-for-cash case
Four men have been jailed for a total of nine years at Croydon Crown Court for their roles in fraudulent insurance claims totalling more than £290,000.
Towergate bondholders appoint advisers Moelis & Co
Moelis & Co has been appointed as an adviser by Towergate's secured bondholders in advance of talks with the consolidator about its £1bn debt, according to reports.
Towergate Underwriting CEO responds to concerns on broker ties
Towergate Underwriting CEO Clive Nathan has admitted concerns that he could lose further brokers in the wake of Arthur J Gallagher deciding to cut ties with the embattled business.
Fitch predicts more consolidation among smaller European insurers
Merger and acquisition activity among smaller European insurers is likely to gather momentum as the countdown to Solvency II continues and profitability remains under pressure, according to Fitch Ratings.
Lords holds first evidence session on Insurance Bill
The House of Lords new Special Public Bill Committee on the Insurance Bill will hear from government Minister Lord Newby in its first evidence session next week.
Rates down 2.8% in Q3 as buyers increasingly access global capacity
Global insurance rates fell by 2.8% in the third quarter of 2014, compared with the same period in the previous year, according to Marsh's global insurance index.
AIG re-hires CNA regions boss Somers to help boost non-London GWP
AIG is pushing ahead with plans to bolster its regional presence across the UK with the appointment of CNA Insurance’s head of UK regions Phil Somers.
Insurance Europe unveils new committee chairs
Insurance Europe has revealed the new leadership of its committees, handing a leading role to Lloyd’s head of government policy and affairs Alastair Evans.
Digital Insurance and Technology Awards 2014: Winners Revealed
Post’s Digital Insurance and Technology Awards took place last night at the Royal Garden Hotel in London. The event recognised the increasing role that technology plays in enabling those in the insurance industry to streamline their processes, innovate,…
Blackpool and Crewe among areas with highest drink-driving convictions on motor policies
Llandrindod Wells and Blackpool have been named as the top two postal areas for drivers with drink or drug-driving convictions on their car insurance policies, according to research from aggregator Money Supermarket.
Customer loyalty obtainable for UK insurers if 'fair value' is provided
Insurers have been advised to focus on building long-term relationships in order to retain policyholders after a survey by Consumer Intelligence showed customers do not want to shop around annually.
Austbrokers becomes largest broker network in New Zealand
Austbrokers has bought broker network BrokerWeb Management in New Zealand.
Thousands of claims after huge hailstorm hits Brisbane
Insurers have received over 8,000 claims after a huge hailstorm yesterday in Australia's third largest city.
Quindell denies CMC contract loss reports
Quindell has denied reports that it has lost a contract worth 1000 personal injury claims a month, or that staff will not be paid before 2015.
