News
Home insurance fraudster handed suspended sentence
A 37-year-old man who made a fraudulent claim for £34,000 worth of items on his LV home insurance policy has been given a suspended jail sentence following an Insurance Fraud Enforcement Department investigation.
Hyperion eschews 2015 dividend as RKH deal fuels £81.4m accounting loss
Hyperion will report an International Financial Reporting Standards accounting loss of £81.4m for 2015 as a result of expenses such as that associated with the acquisition of RKH.
BI remains top global risk while cyber is UK's biggest threat
Business interruption is the top global risk for the fourth year running, according to the Allianz Risk Barometer 2016, with cyber attacks, geo-political instability and technology failure identified as new possible drivers of BI losses.
Gallagher completes NED line-up with Coldman capture
Arthur J Gallagher has appointed John Coldman as a non-executive director, subject to regulatory approval.
AIG strategy failing to win support among majority of investors
Only a small minority of shareholders back AIG’s present strategy amid pressure from activists such as Carl Icahn for a change to the insurer’s approach, according to a poll by investment management firm Bernstein.
Insurers encouraged to improve claims experience as poll highlights delays
More than two in five (41%) motor and home insurance customers have suffered delays and problems when making claims, according to research by Consumer Intelligence.
Businesses are paying later in China but economy is resilient, says Euler Hermes
Credit insurer Euler Hermes believes domestic consumption in China will support the economy but volatility is delaying business payments.
Ironshore's Pembroke to open in Shanghai
Ironshore is to open an office in Shanghai for its Pembroke Managing Agency to join Lloyd's China platform this month.
Business interruption from cyber attacks a growing concern, says AGCS
Business interruption is the top risk globally for the fourth year in succession according to Allianz's Risk Barometer 2016 - an annual survey of risk managers.
Swiss Re appoints new UK & Ireland CEO
Swiss Re has appointed Frank O'Neill as CEO of its UK and Ireland operations, effective immediately.
Aviva faces Tulloch successor conundrum
With Aviva's well-regarded UK general insurance CEO Maurice Tulloch stepping down to focus on a global role within the insurer, speculation is mounting as to which direction the company will take in naming a successor.
RSA reaches out-of-court settlement with former Irish CEO Smith
RSA has reached an out-of-court settlement with the former CEO of its Irish operation Philip Smith.
Market Moves - 14 January 2016
The industry moves continue to come thick and fast as 2016 gets underway...
Right Choice buys three breakdown brands from ERS
Right Choice Insurance Brokers has acquired three motor breakdown insurance brands from ERS resulting in the transfer of approximately 150,000 vehicles and customers insuring under the Autonational, Auto Aid and Eurorescue brands.
Generali unveils extended business risk analysis advisory solution
Generali has launched an advisory solution providing support in business risk analysis to its corporate clients, which has also been extended to franchised businesses.
Acromas offloads tax losses to Saga for £7.65m
Over-50s insurer Saga is to acquire tax losses from Acromas SPC Co and Acromas Mid Co - a 31.5% shareholder in Saga, worth £15.3m, according to a Saga trading statement.
Pre-April renewal flood victims facing hiked household premiums
Flood victims who are due to renew their household insurance policy before the April introduction of Flood Re will be faced with inflated premiums, amid widespread rate reductions elsewhere.
DLG predicts up to £140m in flood losses
Losses incurred by Direct Line Group following flooding caused by the storms Desmond, Eva and Frank during December are expected to total between £110m and £140m.
MSIG explores telematics in Singapore with trial
MSIG is looking for drivers to participate in a six month study to analyse driver behaviour in Singapore.
Esure secures insurance fraud verdict over Breitling claim
Esure has won a victory in the fight against insurance fraud after a man was found guilty after falsely claiming on his home insurance policy for a £6000 Breitling watch he never owned.
First Central continues expansion with planned Manchester office
Personal lines motor broker First Central Insurance Management (FCIM), which trades under the First Central brand, is planning further expansion with the opening of a new Manchester office in the spring.
GAP product released for agriculture sector
Two specialist agriculture guaranteed asset protection (GAP) products have been launched by the XS Cover Company, via Malta-based protected cell company Building Block Insurance.
Esure appoints from DLG for senior underwriting role
Esure Group has appointed David Meader from Direct Line Group as head of motor underwriting.
First Central continues expansion with planned Manchester office
Personal lines motor broker First Central Insurance Management, which trades under the 1st Central brand, is planning further expansion with the opening of a new Manchester office in the spring.