News
Ten moves to employee ownership model
Ten Insurance has converted to employee ownership safeguarding it against a buy-out from another network.
CII promotes 'speaking up' with new whisteblowing guide
The Chartered Insurance Institute has launched a 'Speaking Up' guide on whistleblowing as part of its ongoing ethical guidance series.
UK broker market sees rapid consolidation after AJG buying spree
The UK commercial non-life broker market is consolidating faster than its main European counterparts due to the recent acquisitions made by Arthur J. Gallagher, new research from Finaccord has shown.
Compass recruits from Cobra for London broking director
Gallagher-owned network Compass Broker Services swooped for a new broking director, recruiting from Cobra London Markets.
Xchanging hires Oracle's Baker as MD for Xuber
Xuber, Xchanging’s insurance software business, has appointed Chris Baker, formerly a senior vice president of Oracle, as managing director of Xuber within Xchanging Technology Services.
Xchanging acquires Agencyport's European arm
Business outsourcing provider Xchanging has acquired the European operations of US-based Agencyport Software, for a cash consideration of £64.1m.
Europe faces more than €2bn losses from June thunderstorms
An outbreak of severe thunderstorms in June caused over €2bn economic losses across Europe, according to Impact Forecasting, the catastrophe model development centre at Aon Benfield.
Insurers critical of TSC medical report proposal
The industry has slammed a Transport Select Committee proposal to prohibit personal injury claims being settled without a medical report with one insurer calling the suggestion “out of touch”.
TSC endorses proposed pre-med whiplash offer ban
The Transport Select Committee has thrown its support behind government moves to prohibit insurers from settling whiplash claims without a medical, as part of a report on fraudulent and exaggerated motor claims.
Axa Art UK CEO steps down
Annabel Fell-Clark has stepped down as Axa Art Insurance chief executive to pursue personal interests.
Xchanging acquires insurance software business Total Objects
Business process and technology services provider Xchanging has agreed to acquire 100% of insurance software business, Total Objects, for a potential total cash consideration of up to £21m.
Davies’ Coombes takes on Garwyn growth remit
Davies Group chief commercial officer Darren Coombes has been handed an expanded role that will see him take on responsibility for growth and development at Garwyn.
LV Broker looks to Markel for product delivery role
LV Broker has appointed Carl Berriman as product delivery head.
ING raises £1.1bn in NN Group float
ING Group has made £1.1bn from the flotation of NN Group, its European and Japanese insurance and investment management business.
Russian risk manager joins Ferma board
Four directors and one substitute are joining the board of the Federation of European Risk Management Associations.
Cunningham Lindsey recruits major loss duo
Cunningham Lindsey has added two to its major loss teams in Scotland and Northern Ireland, recruiting from BDO and Crawford.
CGSC launches LatAm wholesale insurance broking expansion
Independent wholesale broker Cooper Gay Swett & Crawford is to expand its Swett & Crawford wholesale broking business into the Latin American market.
AJG completes acquisition of Canada's Noraxis
Arthur J. Gallagher said today it had become a top five Canadian broker following the completion of its purchase of Noraxis Capital Corporation.
Zurich sells Russian retail business to OLMA Group
Zurich has agreed to sell its Russian retail business to investment firm OLMA Group, but will retain its Russian corporate business.
RSA to sell Chinese arm to Swiss Re for £71m
RSA Insurance Group has agreed a deal to sell Sun Alliance Insurance (China) to Swiss Re Corporate Solution.
Marsh appoints Klisura as global placement business boss
Dean Klisura has been named head of Marsh's new global placement organisation.
SRA cuts mandatory PI cover limit to £500 000
The Solicitors Regulation Authority has reduced the minimum level of professional indemnity cover for solicitors to £500 000.
Homeowners see premiums fall 22% in four years
Home insurance premiums in the UK are at their lowest level in four years, according to a study by Money Supermarket that calculated the average premium at £124.
Wunelli partners with Innovation Group on BPO deal
Innovation Group has formed a partnership with Wunelli to become the telematics firm’s recommended business process outsourcing provider.