News
Lloyd's Asia to switch Singapore office
Lloyd's Asia will move out of Asia Square in the final quarter of 2015 to new offices in Raffles Place.
RK Harrison and Hyperion seal merger agreement
The long awaited merger between RK Harrison and Hyperion has been agreed between the two brokers.
Hiscox eyes bolt-on acquisitions to boost growing retail book
Hiscox is keen to complete more bolt-on acquisitions as it looks to continue growing its retail book, according to chief underwriting officer Richard Watson.
TSC report expected to call for greater focus on telematics
The drive to improve road safety is in danger of running off course as a result of the government’s failure to introduce a strategic plan to exploit emerging technologies, a parliamentary report will warn this week.
BLM to move to insurance district
BLM will move its entire London operations to a single office in the heart of the insurance district on 10 March.
MA Group launches high value property repairs service
Cipher UK, a new national property repairs service for insurers has been launched today (2 March) by the MA Group, specialising in complex and high value repairs up to £500,000.
Munich Re leads Pool Re's £1.8bn reinsurance programme
Government-backed terror scheme Pool Re has purchased reinsurance in the commercial market for the first time in its history.
IUA calls for innovative emerging risks cover
The board of the International Underwriting Association has discussed the challenges of providing cover for emerging risks at a recent meeting with risk managers association Airmic.
Hiscox UK and Europe delivers record profits in 2014
Hiscox chairman Robert Childs has heralded his firm’s “discipline” in underwriting and within its investment portfolio after posting a marginal reduction in group pre-tax profit for 2014 of £231.1m (FY 2013: £244.5m).
RSA disposals impacted by staff pension liabilities
RSA is reportedly turned-off the prospect of a break-up of the company due to large amounts of sale proceeds having to be allocated to staff retirement schemes.
Axa picks Applied to distribute online SME products
Axa Commercial Lines and Personal Intermediary has partnered with software provider Applied Systems to distribute its online SME products.
Laurent Josi starts as CEO Axa Asia
Jean-Louis Laurent Josi has started his role as CEO of Axa Asia in Hong Kong this week.
Amlin profits hit by reduced reserve releases and investment return
A combination of condensed reserve releases and a dip in investment return last year has been blamed for a £67m fall in profit before tax at Amlin.
Randall & Quilter and Hiscox disagree on Synergy terms
The deal between Randall & Quilter and Hiscox over R&Q's managing general agent Synergy Insurance has fallen through after not agreeing "mutually acceptable terms".
Lloyd's recruits Asia-Pacific broker head
Lloyd's has appointed Chris Rummery in a newly created role - senior market development manager for Asia-Pacific.
China's solvency regime to provide mixed blessings for reinsurers, says Peak Re
Hong Kong-based reinsurer Peak Re believes new risk solvency regime will modernise China's market after an initial period of pain for insurers.
Former AIG and MetLife CEO Benmosche passes away
Robert Benmosche, former CEO and president of AIG, has passed away at the age of 70 after suffering from lung cancer.
CMA proposes August 2016 deadline for no claims bonus remedy
The Competition and Markets Authority appears to have heeded industry pleas to extend the deadline for implementing its no claims bonus remedy.
5 things we didn't know this time last week
It's been a busy week in the news with Towergate and Gallagher swapping staff and insurers puffing out their chests to reveal their results so you might be forgiven for missing other news that has happened this week.
Ambant to extend MGA offering following Heritage investment
Guernsey-based Heritage Group has acquired a 33% stake in managing general agent launch specialist Ambant Underwriting Services.
Prosight authorised to launch managing agency at Lloyd's
Prosight Specialty Insurance has received final authorisation from Lloyd’s, the Prudential Regulation Authority and the Financial Conduct Authority for its own Lloyd’s managing agent to manage Prosight’s Syndicate 1110 at Lloyd’s.
Laspo 'unwinding' will impact motor rates, claims Dye
The long-term success of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 could be in doubt, with signs showing an “unwinding” of the reforms designed to tackle motor claims inflation, according to Allianz UK CEO Jon Dye.
Lloyds Bank GI profits hit by early 2014 storm claims
The impact of storm claims in the first quarter of 2014 and the continued run-off of legacy books resulted in Lloyds Banking Group posting a £41m drop in underlying profit for its general insurance business last year.
Besso CEO Marshall resigns
Besso CEO Colin Marshall has resigned from his post after 30 years with the company.