News
Post Europe relaunches with dedicated site as Insurance Insight
Post’s European coverage has launched with its own dedicated website, Insurance Insight, which aims to be a one-stop-shop for European insurance news.
Former Nilefern boss jailed for 15 months
The disgraced former director of Sittingbourne-based coverholder Nilefern has been sentenced to 15 months behind bars after pleading guilty to a string of child sex offences.
London Mayor must tackle flood risks
The London Assembly’s environment committee has demanded Mayor Boris Johnson take action to reduce the serious risk of flood damage and potential loss of life London faces from severe rainfall.
Insurance Insight’s first weekly update live
Insurance Insight’s first weekly update is now live with an article on global insurance programmes and how local can some times be best; as well as a View from the Top on the need for insurers to be flexible when it comes to risk management.
Beachcroft and DAC confirm merger
The members of Beachcroft and Davies Arnold Cooper have voted in favour of merging the two firms.
Beazley combined ratio hit following heavy catastrophe losses
Beazley CEO Andrew Horton admits that the firm’s annual combined ratio target of “around the mid 90s” could be jeopardised by global catastrophes during the second half of the year.
Matthews quits Irish Setanta Insurance over differences
Setanta Insurance chief executive Mike Matthews is to leave the company after investors failed to back his vision to grow the business within Ireland and internationally.
Setanta CEO quits after shareholders oppose international growth plans
Setanta Insurance chief executive Mike Matthews has quit the company after investors failed to back his vision to grow the business in Ireland and internationally.
European extended warranty market for mobile gadgets to hit €7bn by 2014
Extended warranties and insurance for mobile gadgets and telephones are outgrowing those for non-mobile white, brown and grey goods.
BMS to become employee owned
Specialist insurance broker BMS Group is buy out its only external shareholder, AHJ Holdings, after reporting annual revenues up 7% to £50m.
Italian Fondiaria-SAI removed from rating watch negative
Italian insurance company Fondiaria-SAI's and its main subsidiary, Milano Assicurazioni's have been removed from Fitch Ratings rating watch negative.
Beazley reveals $24m half year loss
Beazley has announced a $24m half-yearly loss due to its $154m catastrophe losses earlier this year taking its combined ratio to 108%. It has hired Axa’s Dennis Holt to replace Jonathan Agnew as chairman.
Excess policy launched for brokers
Adding1 has launched a policy that allows insureds to reclaim their policy excess charges on the Acturis broker platform.
NFU Mutual subsidiary acquires Channel Island broker
NFU Mutual bosses have confirmed that one of its subsidiary companies – Island Insurance – has acquired Reed Insurance Associates in the Channel Islands.
Insurance IT provider Sapiens merges with aim to reach $100m revenues
Sapiens International Corporation, a global provider of innovative software solutions for the insurance industry, has signed a definitive agreement to acquire FIS Software and IDIT I.D.I. Technologies, both providers of software solutions for the…
Ace makes Continental appointments
Ace has promoted Andreas Wania from Central and Eastern Europe manager to chief operating officer for Ace Germany and will be based in Ace’s Frankfurt office.
Report finds insurance capacity remains buoyant in Europe
Insurers are still vying for lucrative accounts and insurance capacity remains buoyant in Europe, the Middle East and Africa, however, in some areas rates have increased, and insurers have tightened their policy terms and conditions in the second quarter…
Lawyer speaks out over Willis fine
Osborne Clark partner Tim Boyce has commented on the record multi-million pound fine imposed on Willis by the FSA.
Rehab Awards 2011: finalists announced
The shortlist for the 2011 Rehabilitation First Awards has now been revealed. This event, now in its 7th year, recognises and rewards excellence across the market. The celebrations will take place on Friday 16 September 2011.
Willis fined record £6.9m for FSA handbook breaches
UK insurance broker Willis, a subsidiary of Willis group holdings, has reached a settlement with the Financial Services Authority for breaches of the FSA Handbook.
Helphire and Hastings renew terms
Helphire Group has renewed terms with Hastings Insurance Services to provide Hastings’ motor insurance customers with replacement vehicle services in the event of non-fault accidents.
JLT warns pharma firms of non-damage risks
Broker JLT claims regulatory fears, intellectual property risks and counterfeiting are driving demand for its EPIC non-damage business interruption product developed for the life science and pharmaceuticals market
First Assist keeps Halifax travel business
White label insurance provider First Assist has retained the travel insurance business tendered by Halifax.
Euler Hermes links with Mapfre
Spanish insurance giant Mapfre and Allianz-owned Euler Hermes have signed a memorandum of understanding to build a strategic alliance aimed at jointly developing their credit and bond insurance business in Spain, Portugal and Latin America.