News
Elite says unrated status not an issue for potential Medco customers
Elite Insurance's chief operating officer Russell Smart has stressed that customers should not be worried by the fact that the firm is an unrated carrier.
Business Insight unveils risk analysis tool
Technology provider Business Insight has launched Resonate, a new risk analysis model that classifies every address and neighbourhood in the UK.
FCA expected to bare teeth as competition powers kick in
Firms could be on the receiving end of significant fines as the Financial Conduct Authority demonstrates its new competition powers, according to lawyers at Norton Rose Fulbright.
Independent's creditors to vote on scheme in June
Scheme creditors of the collapsed Independent Insurance Company are to meet on 1 June 2015 to consider a scheme of arrangement which is being proposed as an alternative to the company being liquidated.
GI players under the microscope as FCA increases its focus on the sector
Insurers and brokers have been warned by market observers to be on their guard after the Financial Conduct Authority outlined a series of reviews designed to shake-up the general insurance sector.
Further insurer run-off expected in Gibraltar as others plot arrival on The Rock
Several Gibraltar-based firms in danger of entering run-off are under intense regulatory scrutiny, according to market insiders, while the British overseas territory's financial watchdog says it has a number of interested parties on the hook to establish…
Covéa credits 'disciplined' pricing for 40% rise in 2014 pre-tax proift
A “disciplined approach to pricing” has been attributed to Covéa Insurance's improved combined operating ratio of 97.8% for 2014 (FY 2013: 98.7%).
ERS adds chief risk officer Ryan to the Board
Ryan Warren is to join ERS as chief risk officer and as a director of the Equity Syndicate Management Limited Board.
Germanwings loss to maintain aviation market pricing pressure
Pricing in the aviation market is expected to remain competitive in spite of the Germanwings crash on 24 March, according to AM Best.
RSA's Hood resigns two months after taking on CDO role
RSA chief digital officer Ian Hood has resigned from the insurer just two months after taking on the role and has set his sights on a move to a different sector.
Cunningham Lindsey to acquire Andersen Environmental
Cunningham Lindsey has reached a definitive agreement to acquire Andersen Environmental, an environmental and engineering due diligence, health and safety, and remediation firm.
Pro Global to invest in growth in 2015 after year of restructuring
Service provider Pro Global Insurance Solutions delivered a total group profit of £3.8m last year, compared to a £33.5m loss in 2013, following the demerger of its run-off business.
Principal's Dublin launch expected to stir up Irish market 'complacency'
Manchester-headquartered Principal Insurance is fully trading in Ireland after completing a pilot phase that has seen the broker offering quotes to Irish bikers for the past few weeks.
Koh excited by Generali Asia marketing role
Tricia Koh has been confirmed as Generali Asia's head of value proposition and marketing after joining from Allianz Global Corporate & Specialty last December.
AIG sells $500m of PICC's shares
AIG will remain the largest shareholder of China giant PICC despite selling 254m shares for $500m (£338m).
GI complaints slightly down in second half of 2014
Complaints about general insurance fell 1% in the second half of 2014, according to the latest figures from the Financial Conduct Authority.
Slater & Gordon deal a 'vindication' for Quindell's accounting practices
Quindell's non-executive chairman David Currie said that the sale of the claims outsourcer's professional services division "vindicates" some of the findings of a PWC investigation into the company's accounting practices.
Kennedys poaches 13-lawyer team from Plexus
Kennedys has hired a 13-lawyer travel sector team from Plexus Law to join its personal injury practice.
Buying habits of millenials raise threat of conduct risk
Technology is increasingly distancing millennials from traditional purchase channels and sources of advice, research by consultancy Towers Watson has found.
Willis Northern Ireland MD Workman departs
Willis Northern Ireland managing director David Workman has stepped down after 28 years at the broker, Post understands.
Bank of Scotland to offer own-brand car insurance through Junction deal
BGL Group's affinity arm Junction has added two motor insurance propositions to the Lloyds Banking Group insurance offering including a Bank of Scotland-branded motor insurance product.
Public set to increase insurance spend, PWC survey finds
People are expected to spend more money on insurance products according to the latest CBI/PWC Financial Services Survey, which was published today (30 March).
AGCS hires first UK-based cyber risk consultant
Allianz Global Corporate and Specialty has appointed Rishi Baviskar as its first UK-based cyber risk consultant.
Corporate policyholders told to improve standards in light of Insurance Act
Corporate insurance buyers in the UK have been warned that current risk analysis standards “fall substantially short” of the compliance implications associated with the incoming Insurance Act.