News
Markham swoops for former Oak MD as chairman
High net worth broker Markham Private Clients has swooped for former Oak Underwriting managing director Bob Trott, recruiting him to serve as its new chairman.
Saga eyeing £3bn float for next week, states report
Acromas-owned insurer Saga is plotting to enter the UK stock market as soon as next week according to reports.
Prettejohn named Scottish Widows chair
Lloyds Bank has confirmed speculation that Nick Prettejohn will join as a non-executive, naming him as chairman of Scottish Widows.
At least $100m of cover for passengers of stricken South Korea vessel
Post understands international broker Willis helps place reinsurance covering members of the Korean Shipping Association of which the owners of the stricken Sewol is a member.
AIG launches oil and gas product for ASEAN region
AIG is providing an 'OSCAR' insurance policy for oil and gas service contractors in the ASEAN region.
Turkey in general insurance turnaround, says Fitch
The Turkish general insurance market made a profit of $357m (€260m) in 2013 after four years of poor results.
Ex-Zurich claims boss Cawley resurfaces at Towergate
Consolidator unveils string of hires amid underwriting restructure
Towergate believed to be close to Arista acquisition
Towergate is believed to be closing in on a deal to acquire managing general agent Arista.
Zurich property boss Leslie joins Tokio Marine Europe as CUO
Tokio Marine Europe has appointed Zurich’s head of property lines for global corporate business Peter Leslie as chief underwriting officer.
Aviva uncovers 19% rise in fraud in 2013
British insurer Aviva detected over £110m worth of insurance fraud in 2013 – a 19% increase compared with 2012.
73% of brokers say regulation hitting customer service
Almost three quarters of intermediaries have warned that the weight of regulation is damaging insurers' customer service, in a survey conducted by EDM Group, Post can reveal.
Covéa posts £15m profit for 2013 but sees GWP shrink 17%
Covéa Insurance posted a technical account profit of £15m for 2013, its first full year results since the merger of the MMA Insurance, Provident Insurance and Gateway Insurance businesses.
VRS Vericlaim promotes liability boss to quality role
VRS Vericlaim has handed a promotion to head of liability Phil Heron, who will now serve as head of quality at the adjuster.
Barbon finance boss resurfaces as Gallagher UK retail FD
Barbon financial director Kevin Withington has taken on a new role as Gallagher’s UK retail financial director.
Ad watchdog backs Homeserve on water supply complaint
The Advertising Standards Agency has rejected a complaint the accuracy of direct mailings from Homeserve relating to the scale of water supply problems.
Money Supermarket insurance prospects boosted by Google deal
Money Supermarket has said that it expects insurance comparison revenue to improve after resolving a dispute with Google on search listings.
JLT creates Hong Kong political and credit risk team
JLT has created a credit, political and security risks team in Hong Kong by hiring Edmond Yun as divisional director, and employing Stephen Chan and Koh Wei Jun as account managers.
Asia-Pacific significantly underinsured for catastrophes, says Asia Development Bank
The Asian Development Bank has warned in a report that underinsurance for natural catastrophes in the region is enough to wipe out economic gains from GDP.
Quindell shares plummet 39% on 'defamatory' research note
Quindell has condemned an analyst note by Gotham City Research as “highly defamatory” and “deliberately misrepresentative” after its share priced nosedived following the note’s publication.
Interconnected cyber risks could cause global crisis
Organisations must improve their response to cyber risks if they are to avoid a global shock similar to the 2008 financial crisis, insurer Zurich has warned.
Ascot founder Reith joins Amwins board
Ascot Underwriting’s founder Martin Reith is to join the Amwins board as an independent director.
Catastrophes 'manageable' as global reinsurers post solid profits
Global reinsurers posted solid underwriting gains in 2013, as catastrophe-related losses were manageable and loss reserve development remained favorable, according to Fitch.
Endurance slams 'entrenched' Aspen board after 'poison pill' rights plan
Endurance’s chief financial officer Michael McGuire has accused Aspen’s management of being “entrenched” and “not aligned with shareholder interests” after the firm continued to ward off its attempted takeover.
R&Q: active syndicate will hinder 2014 results
Randall and Quilter chief executive Ken Randall has told Post he does not expect to see the firm’s active syndicate boosting figures until 2015.