News
Besso Insurance Group reports 16% increase in brokerage as turnover hits £37.6m
Besso Insurance Group has reported a strong increase in its brokerage income in its 2015 results as turnover currently stands at £37.6m with pre-tax profits of £5.26m.
Berkshire Hathaway Specialty expands to Macau
Berkshire Hathaway Specialty Insurance has gained an insurance and reinsurance license for Macau.
Asia Capital Re sells to Chinese investment firms
Singapore-based ACR Capital Holdings' shareholders have agreed to sell the reinsurance firm to two Shenzhen state-owned firms.
Nelson welcomes PM's Brexit timeline
Lloyd’s chairman John Nelson has welcomed Prime Minister Theresa May’s confirmation that Article 50 will be invoked before March next year.
Charman to net £255m from sale of Endurance to Sompo
John Charman stands to gain £255m from the £4.95bn sale of Endurance to Sompo.
Broker Network set on building a 'regional broking powerhouse'
Broker Network is aiming to building a “regional broking powerhouse” as it sets its sights on further acquisitions.
New cyber coverage endorsement could minimise business interruption following an attack
Fm Global has introduced a new add-on product which gives current policy holders the opportunity to maximise their recovery from a cyber-attack.
Flood Re backing 53,000 policies six months after launch
Flood Re is now backing 53,000 policies just six months after the scheme’s launch.
Hastings investors to sell £99.8m stake
Investors in motor insurer Hastings will sell shares worth around £99.8m.
Axa to flood terrace house in research project
Axa will build and then flood a terraced house in a project aimed at helping develop flood resistant homes.
Only a quarter of UK insurers now support Solvency II
Support for Solvency II is waning with just a quarter of UK insurers believing the regime is the best way to run their business.
Finch becomes Broker Network's first regional broker buy
Broker Network has bought commercial broker Finch Commercial Insurance Brokers.
Big Data – a challenge and opportunity for brokers
The rise in Big Data could usher in a host of opportunities for insurers to expand their customer bases and develop innovative products and services; but it could also prove a test for brokers.
Sompo reaches agreement with Endurance's board for $6.3bn acquisition
Japanese property and casualty insurer Sompo Holdings has agreed to acquire Bermuda based P&C insurer Endurance Specialty for $6.3bn (£4.96bn) or $93 a share.
Rawlins leaves Insurance Australia Group
IAG's head of Digital Labs Claire Rawlins has left the insurer.
Qatar Re granted Singapore license
Qatar Re has been granted a license to operate in Singapore.
Penny Black's Social World - October 2016
Vehicular video, an incr-Ed-ulous response, walking for water and more
Lau swaps XL Catlin for Tokio Marine Kiln in Hong Kong
Tokio Marine Kiln has appointed Kin Lau as head of the international insurer's Hong Kong office.
XL Catlin acquires Brooklyn Underwriting
XL Catlin has completed its acquisition of Lloyd’s approved coverholder Brooklyn Underwriting.
Five brokers seek compensation of £30,000 from SSP
Five brokers so far have joined a group compensation claim so far worth £30,000 against SSP for lost business during the period of the outage.
Seventeen Group breaks £10m for first time
Seventeen Group has seen a 6.4% increase in group revenues, exceeding £10m in 2015 for the first time.
Engineering insurance sector is under-evaluating cyber risks
Cyber risks are underestimated by engineering underwriters despite the Internet of Things and cloud computing having a direct impact on engineering risk landscape.
Startup Bootcamp partners with Talanx
Startup bootcamp Insurtech has brokered a partnership with German insurer Talanx.
Cyber risks are transport industry's biggest concern
The increased security threat from cyber and data privacy breaches is the number one risk on the minds of executives in the transportation industry.