News
Italian insurance sees stable outlook for 2016
Ratings agency Fitch Ratings has forecast a stable 2016 for non-life insurers in the Italian market.
Uninsurance, 'panic' key reasons why young drivers ‘hit and run’
While rates of uninsurance have halved since 2005, the Motor Insurers’ Bureau has raised concerns the level of ‘hit and run’ incidents has not fallen by a similar scale.
Little Chef saviour backs MBO for Independent Group
Distressed asset investor R Capital has backed a management-led buyout of Independent Group.
London riots decision overturned by Supreme Court
A key judgement following the London riots has been overturned by a Supreme Court ruling, with the Association of British Insurers saying the industry would be “disappointed” by the decision.
Brightside hires Markerstudy retail boss Russell Bence
Brightside Group has appointed Russell Bence as its managing director of volume lines.
Fraudsters steer away from motor as casualty fraud almost triples in five years
Organised casualty fraud claims saw a significant spike from 2010 to 2014 as the government tightened up on whiplash and motor fraud, according to a new report.
Cooper Gay hires former Brightside CEO
Reinsurance broker Cooper Gay Swett & Crawford has poached Andy Wallin, former group CEO of Brightside.
Stream UK sold after parent group goes into liquidation
Stream Claims Services UK has been sold off for an undisclosed sum by its struggling Australian parent company.
Two brokers lose permission to carry out regulated activities under FCA
Brokers David Michael Sayer and Lester Evans have lost their Part 4A permission to undertake regulated activities under the Financial Conduct Authority after failing to pay overdue balances.
Parliament and Treasury Committee’s power ‘greatly strengthened’ in hiring process of FCA CEO
The House of Commons’ and the Treasury Committee’s influence on the appointment and dismissal of the FCA’s CEO has been heightened, according to the latter’s chair, Andrew Tyrie.
Interview: David Marock, Group CEO, Charles Taylor
He's a CEO with £24m burning a hole in his pocket but Charles Taylor boss David Marock isn't in a great hurry to spend it.
Seven die in historic Texas floods
Historic flash floods around Houston in Texas have killed at least seven people and is likely to have caused damage costing hundreds of millions of dollars.
Former Pool Re chairman Tony Latham takes on NED role at Argo
Tony Latham will serve as Argo Managing Agency’s new non-executive director, with the former Pool Re chairman taking up the board role from 27 April.
Reinsurance broker hires two JLT execs for marine and energy
Capsicum Re has appointed Alistair Lockhart-Smith and Jerry Reeves to its marine and energy specialty business, as a managing partner and partner respectively.
AmTrust to acquire ANV for $218.7m
AmTrust has announced it will buy ANV Holdings for $218.7m (£151m) in what it describes as a “transformative transaction” for the company.
Markerstudy restructures retail division after departure of Russell Bence
Markerstudy’s retail division will undergo a restructuring following the resignation of managing director Russell Bence.
Axa grows in Africa through tie up with Lloyd’s specialty Chaucer
A new venture between Axa and specialty insurer Chaucer will cover political risk, energy and infrastructure.
Watchstone rejects buyout bid as 'unworkable'
Watchstone Group has rejected a bid it deems “unworkable” but has not ruled out any future offers from the company.
Lloyd’s still to shake ‘men in grey suits’ image
Less than half of companies in Lloyd’s have women on their boards, according to a survey on diversity.
Advent targets $100m in growth delegated authority market
Advent Solutions Management has announced plans to target growth and plans to be processing $200m (£139.3m) in premiums within five years following significant investment by Abbey International Finance.
Aegis London finance director resigns
Finance director of Aegis London, James Halley, is leaving the company.
Saga sees improving motor COR and profit growth
The over-50s specialist insurer and service provider Saga has announced an improved combined operating ratio in its motor book of 74.4% (2015: 77.9%) in the year to January 2016.
Ping An buys 48% of major Chinese online car retailer
Ping An has bought 47.7% of the shares of Beijing-based retail car website Autohome from Australia-based Telstra for $1.6bn (£1.1bn).
FWD buys health insurer in Singapore
Hong Kong-headquartered health and life insurer FWD has acquired 90% of corporate medical insurer Shenton Insurance.