News
Indian opposition to consider increase in foreign investment cap
As Indian political elections loom, the opposition party has pledged to consider raising the foreign investment cap in insurance from 26% to 49%.
ELTO success rate hits 77%
The volume of search enquiries on the Employers’ Liability Tracing Office database more than doubled in 2013 compared to 2012, preliminary data released by ELTO showed.
Powerplace recruits from Zurich for business development booster
Powerplace has recruited from Zurich to bolster its business development team.
NIG launches mini fleet on e-trading platform
Commercial insurer NIG has launched mini fleet onto its full-cycle e-trading platform - The Hub.
Fitch keeps RSA on negative watch
Fitch has said it will keep RSA's 'A' insurer financial strength on rating watch negative amid capital raising measures by the firm.
First quarter weather claims could be highest for 20 years says Deloitte
The storms and heavy rain in the first two months of this year may result in the highest number of first-quarter claims since the storms of 1990, according to Deloitte insurance partner James Rakow.
Contract law not main obstacle to single insurance market
Contract law is only one obstacle to cross-border insurance within the EU, among many more important ones, according Insurance Europe.
Lancashire must convince investors of merits of Cathedral takeover
Bermudian insurer Lancashire must work hard to persuade investors of the merits of its Cathedral acquisition, following a lower than expected dividend pay-out to investors, according to Westhouse Securities.
Ambant tackles client monies trapped in brokers' loss funds
Ambant has launched a loss fund service, which aims to tackle millions of pounds sitting unproductively in unreconciled, lost, forgotten or inaccessible loss funds held by brokers and third party claims administrators.
AJG broadens footprint in Latin America with shareholding in JAO
Arthur J Gallagher has deepened its investment in the Latin American insurance market by purchasing a majority shareholding in Peruvian reinsurance specialist JAO & Partners, in partnership with Mexican broker Grupo CP.
Crawford bolsters UK business development unit
Adjusting giant Crawford & Company has boosted the numbers of it UK business development and key account management team, with the recruitment of four new team members and four promotions.
Most flooded homes now accessible says GAB
The majority of homes flooded since Christmas are now accessible to adjusters according to GAB Robins.
R&Q warns profits to be hit by 'slow premium growth'
In a trading update issued ahead of its 2013 results, Randall and Quilter has warned that its live syndicate 1991 has shown slower than expected premium growth, with this likely to impact the group’s full year.
Aviva replaces Regan with former AIG bailout advisor
Aviva has replaced Pat Regan as chief financial officer with a leading member of the team which advised AIG through its 2008 bailout.
Claridge-Ware to leave Hong Kong
Christopher Claridge-Ware is to leave his position as CEO of Hong Kong international health broker CCW Global.
Allianz Global Corporate & Specialty's profits rise 16%
Operating profit at Allianz Global Corporate & Specialty in 2013 climbed 16% to €483m compared to €416m the previous year.
Miller combines P&C specialists into single unit
Broker Miller is combining its property and casualty specialists into one business area headed by Ken MacDonald.
Arron Banks's Eldon to appoint 30 motor claims handlers
Southern Rock claims brand Eldon is aiming to recruit 30 motor claims handlers this year following new business wins and increased demand from existing partners.
RSA's Irish business faces 'two year turnaround'
RSA's UK and Western Europe chief executive Adrian Brown said the firm's Irish business faces “a two year turnaround" before it is back on track.
Aviva eyes technology turnaround following CIO hire
Aviva has appointed former BT Retail managing director Monique Shivanandan as chief information officer.
Aviva’s Wilson demands prosecutions for data thieves
Aviva group chief executive Mark Wilson has demanded criminal prosecutions for individuals who pass on customer data to claims farming companies.
MIB and Experian agree five year MID partnership renewal
Experian has put pen to paper on a five year partnership renewal with the Motor Insurers’ Bureau to maintain the Motor Insurance Database.
Defra dismisses reports of Flood Re exclusion U-turn
The Department for Environment, Food and Rural Affairs has denied reports David Cameron is considering a U-turn on excluding high-net-worth homeowners from the Flood Re scheme.
Gallagher targets Scottish growth opportunities with array of hires
Arthur J Gallagher has expanded its retail business in Scotland with a string of new recruits in a bid to take advantage of “significant and immediate growth opportunities” north of the border.