News
Market moves: Insurers lead Easter recruitment charge
As the industry heads into the Easter break, insurers are, once again, leading the way in the recruitment space.
Industry unveils older driver initiative as Direct Line follows LV's age limit stance
The decision by LV to scrap its age limit of 86 for new car insurance customers has struck a chord with industry bodies behind the launch of a new signposting model, yet market rivals appear largely unconvinced.
Police pay out, but insurers raise questions over BI cover and riot locations
Insurers are starting to receive payments from the police for losses incurred from last summer's riots, but one has called for improvement in the Riot (Damages) Act to cover business interruption losses.
Talks turn to Solvency II and IPO benefits as Project Noah claims wide support
The bosses behind the Project Noah flood solution believe proposals to establish a UK risk pool with £14bn of reinsurance capital could provide a crucial solvency boost for insurers with IPO ambitions.
Kidnapping now multi-billion dollar industry
Kidnaping for ransom has become a multi-billion dollar global phenomenon and is occurring more frequently in locations across the globe, according to a report by crisis assistance company, Red 24.
Simply Business says no to MBO
Simply Business will not undergo a management buyout despite QBE taking over trading relations from Brit.
Chartis underscores £50m investment as UK profit drops 89% to £11m
Nicolas Aubert, UK managing director for Chartis Europe, has stressed the business is “well on the way to break even”, as the UK today revealed an underwriting loss of £51.7m (2010: £65.3m) and combined ratio of 103.6% (2010: 104.2%) for the year ending…
Insurecom recruits new tech chief
Brighton based software house Insurecom has recruited Neil Brooks, pictured, as chief technical officer and David Templeman as chief financial officer.
OFT demands Competition Commission review of private healthcare provision
The OFT has referred the market for privately funded healthcare services in the UK to the Competition Commission for investigation.
Broking bosses widely supportive of QBE swoop for Brit
New Oval chief executive Peter Blanc has expressed his “delight” after hearing the news that Brit’s UK regional business has been snapped up by QBE, rather than falling into the hands of a domestic rival.
Brit CEO insists it will retain stake in Simply Business despite UK arm sale
Brit has insisted it plans to keep its shareholding in online intermediary Simply Business despite selling its regional retail business.
Fitch issues warning over Brit Insurance
Fitch Ratings has placed Brit Insurance Limited's insurer financial strength rating of 'A' on rating watch negative after the sale of its UK regional business to QBE.
Takaful Emerat launches manual labourers' heath product
Life and health provider Takaful Emerat has created a shariah-compliant corporate health plan for low income workers.
Brit UK acquisition to bolster QBE SME and property arms
QBE plans to use its acquisition of Brit’s UK operations to access the property and small to medium sized business markets.
Alan & Thomas buys Emery Little
Brokerbility member Poole-based Alan & Thomas Insurance Group has bought Salisbury and Eastbourne-based aviation broker Emery Little.
Major marine losses a cause of concern for underwriters
The number of substantial losses to the global marine fleet continued last year, with latest figures produced by the International Union of Marine Insurance reporting 591 ‘serious losses’ to date.
Tapiola endorses Moody's Solvency II software
Finnish mutual insurer Tapiola has selected Moody's Analytics' Solvency II software to enhance its risk management infrastructure and help it meet the forthcoming Solvency II deadline.
Willis appoints new CEO for Japan retail
Willis Group has appointed Yoshihide Enomoto as president and chief executive of its retail brokerage business in Japan.
Cooper Gay Swett & Crawford reports 5% growth in first full year accounts
Wholesale and reinsurance broking group Cooper Gay Swett & Crawford has released its first full year results for the year ending 31 December 2011, reporting revenues of $344m, net earnings of $31m and EBITDA of $69m.
NIG targets Scottish SME expansion
NIG has vowed to strengthen its Glasgow-based team by recruiting extra underwriters and phasing renewals handling back to the city in a bid to explore opportunities in the Scottish SME market.
Axa sells Bluefin benefits consultancy to Capita
French insurer Axa has agreed to sell its employee benefits consulting business, Bluefin Corporate Consulting, to Capita for £50m on a cash-free, debt-free basis.
Middle East and Asia energy markets buoyed by excess capacity
Competition and excess capacity continued to strengthen the market for energy insurance buyers in Asia and the Middle East in the first quarter, according to a Marsh energy report.
Axa sells Bluefin's employee benefits arm
Axa is selling Bluefin's employee benefits consulting business, Bluefin Corporate Consulting, to Capita for £50m.
ZFS becomes Zurich Insurance Group
Insurance giant Zurich has officially changed its name to from Zurich Financial Services to Zurich Insurance Group.