News
Reinsurers face year of cost-cutting due to weaker renewals
Reinsurers face a demanding year of cost-cutting after the December contract renewal season delivered weaker prices for the fifth year in a row.
Axa reveals £69m loss following Bluefin sale
Axa has revealed a £69m loss following the completion of the sale of its national broker Bluefin to Marsh.
Endurance sets date for shareholder vote on Sompo takeover
Endurance has set the date when shareholders will vote on the company’s $6.3bn (£4.96bn) takeover by Sompo.
FSCS pays out over £26m on Enterprise claims
The Financial Services Compensation Scheme has paid out over £26m in compensation on claims following the collapse of Enterprise Insurance.
IUA says Brexit representation is the London market priority for 2017
The strong representation of London insurers’ views on Brexit is a priority for 2017, according to the International Underwriting Association.
Post People 4 - 7 January 2017
Check out this week's movers and shakers.
Inga Beale awarded damehood in honours list
Lloyd’s CEO Inga Beale has been awarded a damehood in the Queen’s New Year Honours list.
Boris Johnson rounds on ‘insane’ Vnuk ruling
Boris Johnson has declared the EU Vnuk ruling as “insane”, even as the government launches a consultation on ways to incorporate the ruling into UK law.
Trumped out of Iran: US politics and the London Market ‘gold rush’
One year on from the lifting of sanctions on Iran, what has changed?
Merry Christmas from Post
Incisive Media's offices are now closed until Tuesday 3 January 2017 for the festive period. We would like to take this opportunity to wish you all a very Merry Christmas and a Happy New Year from the Post team.
Final Perils loss estimate for Storms Eva and Frank hit £504m
Catastrophe data firm Perils said flooding linked to storms Eva and Frank caused insured losses of £504m.
Ocaso rejects £50,000 claim due to policy holder withholding information
The Welsh assembly has criticised Ocaso Insurance’s refusal to pay out for a £50,000 flood damage claims, calling the decision ‘unreasonable’.
Court of Appeal finds insurers may only have to pay incurred reinstatement costs
Insurers may only end up paying for reinstatement costs that the insured has in fact incurred, the Court of Appeal has found.
RSA makes two senior appointments to its underwriting team
Robert Kemp and Leigh Langton have both joined RSA in senior underwriting positions within the firm’s Global Risk Solutions UK operation.
This week in Post: Scrooge, Vnuk and season's greetings
As Christmas day draws near lawyers this week branded the Association of British Insurers’ legal challenge over the government’s discount rate review as “worthy of Scrooge himself”.
Cunningham Lindsey appoints Aldrin Wong as Malaysia CEO
Cunningham Lindsey has appointed Aldrin Wong as CEO in Malaysia.
Greg Collins to become Miller CEO in January
Greg Collins will become CEO of Miller from New Year’s Day, the broker said.
Storm Barbara ‘could be first major test of Flood Re’
Home owners should take extra steps to ensure they have sufficient cover this Christmas owing to the risk of flooding from Storm Barbara.
RSA urges government to support SMEs
Over half of UK SMEs think the government is not doing enough to help businesses grow, with seven out of 10 expecting their revenues to fall or stand still in 2017.
Helios to acquire Lloyd’s underwriter Pooks
Helios will acquire Lloyd’s underwriter Pooks Limited for £870,659.
Acuity to acquire Pro for £8.3m
Private equity firm Acuity Investment is planning to acquire Pro Global Service’s service provider business Pro for £8.3m.
Government mulls mandatory registry for drone users
Drone owners could be forced to register their devices under consultation plans released by the government today.
Ex-LV employee sentenced for bribery
A former LV employee and an employee from a claims management company have been sentenced to 12 months in prison for bribery.
S&G under investigation by Australian regulator
Troubled law firm Slater & Gordon is being investigated by the Australian regulator.