News
Insurers warned to 'think the unthinkable' and prepare for Grexit
A decision by Greece to leave the Eurozone could have huge ramifications for insurers and their policyholders law firm CMS has warned.
Alistair Hardie leads MBO at Cega
Alistair Hardie has led a management buy-out at claims handler and medical assistance company Cega after the firm secured funding from NatWest.
ABI defends use of age as motor rating factor
The Association of British Insurers has defended the higher price paid by old and young drivers for their car insurance with the publication of new data showing the link between accident frequency, claims costs and age.
Chubb's $28.3bn price-tag leaves market insiders 'gobsmacked'
The $28.3bn (£18.1bn) fee Ace will pay to acquire Chubb has come as a major surprise to market commentators, who have questioned the rationale behind the purchase and its future market implications.
Acturis grows by over 20% for third consecutive year
Acturis posted a 25% increase in revenues to £36.9m for the year to September 2014.
MIB database to become motor liability trigger following paper certificate changes
Insurers will no longer have to pay third party motor claims for policyholders whose insurance has been cancelled following the implementation of the Deregulation Act this week, according to the Motor Insurance Bureau’s Technical director, Paul Ryman…
Ace to acquire Chubb for $28.3bn
Ace has reached a definitive agreement to acquire Chubb in a deal worth $28.3bn (£18.1bn).
MGAA launches outsourced claims procurement guidance
The Managing General Agents' Association has today published best practice guidelines for its members covering the procurement and management of outsourced claims handling services.
Gallagher Bassett bolsters UK footprint with CAA purchase
Global third party claims administrator Gallagher Bassett International has moved to boost its UK presence with the acquisition of Countrywide Accident Assistance.
Barbon returns to profit in 2014
Barbon Insurance Group has posted an operating profit for 2014, according to documents filed with Companies House.
Catalina completes Quinn legacy liabilities transfer
Catalina Holdings has completed the portfolio transfer of legacy insurance liabilities from Quinn Insurance.
Ex-Esure and L&G boss Peter Graham returns with Barbon role
Former Esure and Legal & General insurance boss Peter Graham is poised to return to the UK market as non-executive chairman of Barbon Group, Post can reveal.
Skuld appoints Ove Kristian Roll for Bergen role
Marine insurer Skuld has hired Ove Kristian Roll to lead its office in Bergen, Norway.
Saga completes Bennetts acquisition
Over 50s insurance specialist Saga has completed the acquisition of motorcycle insurer Bennetts for £26.26m in cash.
AA buys 49% stake in Indian roadside assistance venture
The AA has launched a five-year joint venture with Indian roadside assistance provider TVS Automobile Solutions to provide operational expertise to develop its assistance business in the country.
Hyperion looks to Towergate for CFO hire
Towergate interim chief financial officer Oliver Corbett is to succeed Eric Fady as Hyperion Insurance Group's CFO.
Analytics key for mid-market brokers following 'defensive' Willis merger
The Willis and Towers Watson merger is a defensive move to prevent the broker being targeted for acquisition, according to industry insiders, who also claim mid-market brokers must boost their analytics offerings in the wake of the deal.
LMA reissues guidance in face of Greek exit fears
The Lloyd's Market Association has reissued guidance and a model relating to the withdrawal of a country from the Eurozone as doubts about Greece's future intensify.
Travel insurance categorisation questioned in wake of Tunisia attack
UK insurers are unlikely to face significant losses from the deadly Tunisian terrorist attack, however insiders have suggested the increased targeting of tourists could cause the market to rethink how it categorises territories for the purposes of travel…
Motor fraudsters growing in sophistication, Keoghs warns
Law firm Keoghs has warned of higher levels of sophistication by fraudsters, who are becoming more aware of the detection methods used to catch them out.
Industry warned of cyber threat as big data collection speeds up
The increased collection of big data by insurers is likely to make them the targets of cyber criminals, the industry has been warned.
Generali named in MIT Technology Review of 2015's smartest companies
Generali has been listed as one of the smartest companies of the year by the Massachusetts Institute of Technology.
Cost of data-sharing a thorn in the side of telematics' mainstream potential
The mainstream adoption of telematics remains an unlikely prospect, according to market commentators, as the industry struggles to overcome the price tag older drivers place on their data.
Right Choice Insurance Broker takes stake in Digilog UK
Essex-based Right Choice Insurance Broker has bought a stake in Digilog UK, a technology firm specialising in supplying integrated voice risk analysis solutions.