News
Zurich's Karl Helgesen to replace RSA's Bill Paton as claims director
RSA’s Bill Paton is to step down as claims director for the UK, Western Europe & Middle East at the end of April 2017. He will be succeeded in the role by Zurich's Karl Helgesen, pictured.
Rise in pet insurance fraud pushes case for data sharing
A 400% rise in pet insurance fraud means that insurers need to share data over claims, a software company has warned.
Principal to boost motorcycle offering with Tansar deal
Principal Insurance has teamed up with non-standard motor underwriter Tansar to add to its motorcycle insurance offering in Ireland.
Howden to combine UK operations under single management structure
Howden, the retail broking arm of Hyperion, is set to combine its UK operations under a single management structure following numerous acquisitions.
Ghost brokers have cost uninsured victims £11.5m
Police have carried out 89 investigations into ghost brokers, discovering fraud rings with a total value of £11.5m.
Standard Club expands Nordic footprint with MGA venture
The Standard Club has increased its footprint in Scandinavia by launching a Managing General Agency joint venture with Oslo-based Lloyd’s approved marine insurer Hydor AS.
UK home insurers set to face drop in profitability, says EY
After eight years of good earnings, the profitability of the UK home insurance market is set to plummet as insurers prepare to experience a barely profitable 99% net combined ratio.
Technology and driverless cars are not a threat to the industry, insurers say
Insurance revenues are being driven down by advances in technology that will disrupt the industry and change the ways in which customers choose their premiums.
Swinton to close Widnes branch amid restructure
Swinton Insurance is set to close its Widnes branch as part of a wider restructure which will see its regional branches reduced from 325 to 195.
Tesla to fit all new vehicles with self-driving capability
Tesla will fit the hardware needed for full self-driving capability into all new vehicles it produces, including the Tesla Model 3.
Asta receives approval to manage Verto Syndicate
Third party Lloyd’s managing agent Asta has received and "in principle" approval from the Lloyd’s Franchise board to manage Verto Quota Share Syndicate.
Appointed representatives abandoning smaller firms following FCA mis-selling review
Appointed Representatives are “voting with their feet” by abandoning smaller principle firms since the FCA’s thematic review into mis-selling among ARs.
Augmented and virtual reality set to create billions in risk
Rising technologies such as augmented and virtual reality are expected to create billions of pounds worth of risk.
DWF expands fraud team with two senior appointments
DWF has made two senior appointments with Jacky Cattini joining as head of financial risk and Linda Avan appointed as an intelligence consultant.
THB Group hires Adlam and Beane to senior positions
THB Group has hired Lorraine Adlam as non-executive chairwoman and Malcolm Beane as independent non-executive director.
Brokerslink expands base with private stock offering
Brokerslink has completed a private stock offering to take its base of shareholders to 55 members in 40 countries.
Stackhouse Poland will acquire Lucas Fettes
Stackhouse Poland will merge with Lucas Fettes to create a “powerful independent insurance broker”.
Hong Kong hit by flash flooding as city prepares for Typhoon Haima
Hong Kong was hit by flash flooding on Wednesday as the outer band of Typhoon Sarika brought heavy rain and strong winds to the Special Administrative Region.
PIB makes QPI Legal fourth acquisition of 2016
PIB Insurance Brokers has bought QPI Legal for an undisclosed sum.
Telematics data disproves fraudulent claim and saves £50,000 in costs
Insure The Box has used telematics data to disprove a fraudulent claim and saved £50,000 in costs.
Startupbootcamp and Eos sign £1m investment deal
Startupbootcamp has signed an agreement with Eos Venture Partners that will see up to £1m of funding put into its cohort 2017 start-ups.
Cobalt gets Lloyd's go ahead on Shariah compliant syndicate
Cobalt is to launch Lloyd’s first fully Shariah compliant syndicate, having received 'in principle' approval from the Lloyd's Franchise Board.
AIG in £195m sale of assets to Fairfax
AIG will sell its Latin American and Central and Eastern European operations to Fairfax for £195m.