News
Chilton named as Ross' successor as Gallagher international CEO
Arthur J Gallagher has appointed Grahame Chilton as CEO of the company’s UK-based international brokerage division.
Ascot sees 2014 profits slide as CEO predicts 'challenging' year of trading
Ascot Underwriting CEO Andrew Brooks has vowed to maintain underwriting discipline amid a “challenging trading environment” in 2015, after the firm reported a dip in pre-tax profits last year.
ERS reports first full-year profit in five years
ERS has reported a full calendar year profit for the first time in five years, a £28m improvement year-on-year.
Charles Taylor announces double acquisition
Charles Taylor has announced two acquisitions from the Standard Club; a 50.1% stake of Almond One and a 100% stake of Almond Two.
Fairfax launches equity financing after Brit offer
Fairfax Financial Holdings has launched a C$650m (£337m) equity financing in light of the positive impact of its recommended cash offer for specialist insurer Brit on 17 February.
Axa tipped to make £300m bid for Pinnacle plot
Axa is poised to buy the site for what was intended to be London’s tallest skyscraper, according to reports.
Brokers think home insurance sector will be more competitive in 2015
In a survey of brokers working in personal lines, more than half said the biggest threat to growth will be growing competition from other brokers and direct insurers in 2015, according to research by LV Broker.
Online dispute system to present industry with 'disruptive technology' challenge
The insurance industry should embrace the challenge of harnessing a new form of disruptive technology if an online dispute resolution system is rolled out to deal with low-value civil court cases in England and Wales.
EBA and Partner Re Wholsale partner for Italian market
Underwriting agency EBA Insurance Services has announced a strategic partnership with Partner Re Wholesale, a new specialist insurance division of Partner Re.
Drivers who text at the wheel could face higher premiums, warns AA
The AA has welcomed the launch of new technology that is being trialled by police that will catch drivers using mobile phones at the wheel.
Innovation report predicts shake up of property market by digital 'revolution'
Property claims handling and risk management in the UK is on the threshold of a technological revolution similar to that being experienced in the motor market, according to a report published today (19 February) by the Innovation Group.
IFB announces appointments to supervisory board
Zurich's UK chief underwriting officer Cecile Fresneau and RSA's head of claims control Mike Curley have been appointed to the Insurance Fraud Bureau supervisory board.
Tokio Marine Kiln syndicates deliver profit for 2012
Tokio Marine Kiln’s three non-aligned syndicates all delivered profit for the 2012 year of account, figures published today showed.
Perils estimates January windstorm damage
Catastrophe insurance data provider Perils has estimated the insured property market loss for damaged caused by the Elon-Felix windstorm to stand at €328m (£242m).
Euler Hermes chair bemoans 'disappointing' economy as income dips
Trade credit insurer Euler Hermes saw its net income slump by 3.7% year-on-year to €302.1m (£223.2m) for the 12 months ending 31 December 2014 from €313.7m at the end of 2013.
Three sentenced for inventing car crash
A trio of men from the Wirral have been given suspended prison sentences after being found guilty of inventing a car crash in a bid to con an insurer out of £51,000.
UK-based multinationals face VAT hike after HMRC decision
UK-based multinational insurers face a hike in their VAT bill from 1 January 2016 following a ruling by HM Revenue and Customs.
Flood Re to drive household rates rise in 2015, claims L&G boss
The expense of complying with Flood Re will help drive single digit rate movement in the household market this year, according to Legal and General director of general insurance Mark Holweger.
Arthur J Gallagher buys Cohn Financial Group
Arthur J Gallagher has acquired Cohn Financial Group, an Arizona-based private placement life insurance distributor, for an undisclosed amount.
Aviva downgraded by Berenberg as turnaround case questioned
Equities analyst Berenberg has downgraded Aviva from ‘buy’ to ‘sell’, saying evidence of a turnaround at the British composite insurer is “less compelling than the movement in the share price would suggest”.
Former Lemma director found murdered
A former director of collapsed unrated insurer Lemma has been found murdered at his home in the Ukraine.
Cunningham Lindsey appoints Lewis as In Trust director
Jane Lewis has been appointed director of In Trust and is to join Cunningham Lindsey's board with immediate effect.
Guy Carpenter looks to Willis for analytics head
Matthew Eagle has been appointed international analytics head for Marsh reinsurance arm Guy Carpenter.
RSA sells holding in Indian insurer
RSA has sold its 26% stake in Indian insurer Royal Sundaram Alliance Insurance Company to Sundaram Finance, its joint venture partner.