News
St Jude storm losses hit £898m, according to Perils estimate
Catastrophe data firm Perils has increased its loss estimation relating to windstorm Christian, which wracked the UK at the end of October last year, to €1.091bn (£898.4m).
Autonet hires ex-Axa man Marshall as head of underwriting
Van insurance broking specialist Autonet Insurance has appointed former Axa assistant product manager Glen Marshall as its head of underwriting.
Magenta sells iprism stake
Growth investor Magenta Partners has sold its minority stake in underwriting agency iprism to UK private equity house Bowmark Capital.
Zurich offloads MCIS stake in Malaysia
Zurich is selling its 40% stake in Malaysian insurer MCIS Zurich for $93m (MYR 304m)after being required to sell it because of another acquisition.
Home and motor premiums continue downward slide in Q1
Home insurance premiums continued to fall in the first quarter of 2014, despite the winter flooding and storms that affected many parts of the UK, according to the latest AA British Insurance Premium Index.
Aspen UK adds McLarens to loss adjusting panel
McLarens has been appointed to Aspen UK’s loss adjusting panel following the underwriter’s first review since its launch in 2002.
Aon Q1 broking income rises 10%
Broking giant Aon has seen global first quarter broking income rise 10% on a year-on-year basis, rising from $403m (£240m) to $445m.
Quindell hammers out detailed rejection of Gotham allegations
Quindell has issued a detailed repudiation of the “defamatory” allegations levelled at it by Gotham City’s research, including a staunch defence of its compliance with the Jackson reforms.
Biba and Acturis price index shows 5.5% drop in Q1 rates
Consumers paid 5.5% less on insurance in the first quarter of the year compared with Q1 2013, according to the British Insurance Brokers’ Association and Acturis’ insurance price index.
Swiss Re calm on Gherkin woes
Swiss Re has confirmed that it does not expect the receivership of London’s Gherkin building to affect its tenancy.
LV Broker secures Brightside online motor deal
LV Broker has completed a deal to offer its Highway car product to Brightside online customers, including affinity partners.
EU probing Setanta collapse
The European Union is to investigate the collapse of Irish motor insurer Setanta, which moved to immediately dissolve itself last week.
Quindell launches suit on ‘defamatory’ note
Quindell has begun legal proceedings over an allegedly defamatory research note issued by Gotham City Research earlier this week.
JLT recruits from Ace for Indonesia CEO hire
JLT has appointed Rosmaylinda Nasution as the chief operating officer and chief executive of JLT Indonesia.
Singapore progressing on contract certainty; December deadline looms
Singapore reinsurance market on track to meet the December 2014 contract certainty deadline if more companies make an effort to engage.
Aqua hires Brown to lead commercial product development
Scott Brown has joined the commercial division at Aqua Underwriting as executive director.
Gherkin building falls into receivership
London’s Gherkin building, home to Swiss Re, has fallen into receivership after five years of defaults.
RSA axing UK professional indemnity covers from May
RSA is to take an axe to its UK professional indemnity book, withdrawing from excess of loss cover, as well as products for architects, design and construction, and survey and valuation.
Aviva appoints Lovely as claims director
Aviva has appointed David Lovely as its claims director, reporting to Maurice Tulloch, chief executive for UK and Ireland general insurance.
Aspen spends $3m to spurn Endurance advances
Aspen’s defence against a takeover attempt by Endurance has cost the business $3m (£1.78m), the firm has revealed.
Arista transition to cause 'minimal disruption', vows Nathan
Towergate Underwriting chief executive Clive Nathan has moved to assuage potential concerns the acquisition of Arista will prove disruptive to the commercial managing general agent’s regional trading sites.
Nick Watson to lead Arista following acquisition by Towergate
Towergate has snapped up Arista in a deal that will see the consolidator’s change director Nick Watson appointed chief executive of the newly acquired managing general agent.
Lloyd's confirms Bryant's Hong Kong appointment
Lloyd’s has appointed former Zurich regional head of international customer, distribution and marketing Dylan Bryant as its general representative in Hong Kong.
Axa recruits five to Newcastle branch in full underwriting launch
Axa has recruited five new underwriting staff for its Newcastle office as it seeks to move the branch to a full underwriting operation.