News
Inga Beale elected CII president
Inga Beale has been elected the 121st president of the Chartered Insurance Institute at the professional body’s Annual General Meeting held in London today.
Novae and Axis boards give acquisition the green light
The boards of Novae and Axis have agreed the terms of sale that will see the Bermuda-based reinsurer take over the Lloyd’s carrier.
Ed goes live with new trading platform to complement PPL
London market broker Ed is rolling out its own digital trading platform that will complement Lloyd’s payment placement platform.
Open GI completes acqusition of Transactor
Open GI has completed its transaction of rival software house Transactor Global Solutions.
Kanye West sues Lloyd's syndicates for $10m over cancelled tour dates
Kanye West is suing numerous Lloyd’s syndicates for $10m over the artist’s cancelled tour.
Penny Black's Social World - August 2017
Daring to believe, running to achieve and a video to bereave
Novae makes £14m loss before tax in H1
In its first set of results since being acquired by Axis, Novae has revealed that its combined operating ratio deteriorated 5.9% over the past year, from 95.7% to 101.6% in H1 2017.
RSA UK underwriting profits fall by £59m in H1
Insurance giant RSA saw its underwriting profit take a £59m hit from the impact of the Ogden discount rate and other losses in H1, compared to the same period last year.
QBE to repay millions in Australia following add-on review
Australian giant QBE will repay customers A$15.9m (£9.6m) following a review of add-on insurance sales by the Australian Securities and Investments Commission.
Willis Towers Watson's Schreiber to join JLT in Hong Kong
Willis Towers Watson senior director Kurt Schreiber will be leaving the global and broking advisory firm to join rival JLT.
AA fires executive chairman for ‘gross misconduct’
The AA has fired its executive chairman Bob Mackenzie for "gross misconduct".
Direct Line results strengthened by weaker than expected Ogden hit
Direct Line’s strong H1 results were in part helped by the insurer taking a smaller hit from the change to the Ogden rate than expected.
Fadata in 'investment mode' as it acquires technology specialist Impeo
Exclusive: Fadata Group has acquired Munich-based technology specialist Impeo and its subsidiaries.
Lord Justice Jackson scales back fixed recoverable costs proposal
Lord Justice Jackson has recommended extending fixed recoverable costs for fast-track legal cases and a new fixed cost intermediate track for claims worth up to £100,000.
Homelyfe appoints Peter Barrett as chairman
Insurtech company Homelyfe has hired ex-Genworth Financial managing director, Peter Barrett as chairman of the business.
Go Compare to invest in new businesses following strong results
Go Compare is looking to invest in tech businesses after revealing strong H1 results.
Ascot launches standalone MGA platform, appoints former AIG executive
Ascot has named former AIG executive Greg Wolyniec as new head of global strategy, effective 31 July 2017.
Neon names Boorman head of financial lines
Specialty carrier Neon has named Charles Boorman head of financial lines.
Go Compare sees profit rise in H1
Go Compare saw its profit before tax rise 1.7% in H1, to £39.6m from £34.5m for the same period last year.
Towergate takes aim at specialty market with Geo Specialty launch
Towergate Underwriting has set its sights on the London speciality market through the launch of Geo Specialty.
Insurers in call for clarity over autonomous and assisted technology
Insurers have today highlighted the potential dangers of the ambiguities surrounding autonomous driving and driverless technology.
Direct Line reports increase in profit despite home taking a hit
Direct Line Group has reported that its profit before tax has gone up by 14% to £341.4m in the first half of 2017, compared to £298.5m in the H1 2016.
Argo Global makes two senior appointments
Argo Global has appointed Dominic Kirby as managing director as David Harris prepares to step down and take on a new role.
Elite took regulator to court in lead up to closure
Elite took Gibraltar’s insurance watchdog to court in the lead up to its closure, it has emerged.