News
CHO hits stalemate with insurers over 2015/2016 GTA rates
Insurers and the Credit Hire Organisation have reached a stalemate over the revised General Terms of Agreement rates for 2015/2016 amid uncertainty surrounding the true minimum cost of credit hire.
Insurers round on Aviva following 'disingenuous' ABS accusations
Aviva has been criticised for playing the “blame game” in the fight against fraud following accusations that rival insurers with alternative business structures are guilty of “feeding the beast” of fraudulent whiplash claims.
Hiscox in ongoing talks with PRA over stress test concerns
Hiscox is engaged in ongoing discussions with the Prudential Regulation Authority about concerns it has with its insurance stress test and is calling for a simulation of a large loss scenario to take place in the first half of 2016.
Sun Life launches into GI market with appointment of Stanney
Ex-Castle Cover products director Simon Stanney has been hired to spearhead Sun Life’s foray into the general insurance market.
Ageas ups uninsured drivers' fight with police partnership
Ageas has sponsored a Hampshire Constabulary police vehicle fitted with automatic number plate recognition technology to help identify uninsured drivers.
Maiden partners with Nissan on three-year retail insurance deal
Nissan Motor (GB) has appointed Maiden Insurance as its retail insurance partner as part of a move to allow customers to purchase their policy through a Nissan quote and buy website.
Insurers at risk of under-serving PPI market as distributors shy away from product
The negative perception attached to payment protection insurance following highly publicised mis-selling scandals could leave the market under-served and consumers short-changed on cover in the future.
C-Suite - Insurer: When two worlds collide
The best way to bring businesses together is to combine their respective strengths, says Simon Cooter.
Axa completes SME broker offering revamp with leadership team hires
Axa has appointed seven people to lead its online SME trading hub for brokers.
Hiscox Retail reports record H1 profit despite tough market conditions
Hiscox Retail delivered record profits of £59.3m in the six months to 30 June 2015, up from £37.4m in the same period in 2014.
Ace moves Asia-Pacific headquarters in Singapore
Ace has moved its Asia-Pacific headquarters in Singapore to Capita Green, 138 Market Street in the CBD.
Aon appoints senior Swiss Re head for China roles
Qin Lu is moving from Swiss Re to take on the roles of CEO of Aon Benfield Greater China and CEO of Aon Risk Solutions, China.
Lloyd's underwriters create Asia-Pacific excess consortium
A new Asia-Pacific excess of loss property cover is led by Atrium and provides $25m (£16m) of loss capacity up to 100% of excess layers.
Chase Templeton completes fourth 2015 acquisition with Best Go Private
Chase Templeton has acquired Bushey-based intermediary Best Go Private in a deal that brings a further £3.1m in annual premium income to the consolidator.
Facebook fraudster given community order
A fraudster, who committed insurance fraud against Aviva, has been sentenced to a 12 month community order and must undertake 150 hours unpaid work.
CMC regulator and Apil back ethical marketing charter
An ethical marketing charter geared towards clamping down nuisance marketing and bad practice by rogue operators has been backed by the Claims Management Regulator and the Association of Personal Injury Lawyers.
Mapfre takes 31% hit on H1 net profit
Spanish insurer Mapfre has reported a 31% drop in post-tax profit for the first six months of 2015 to €315.6m (£223m).
Anthem to acquire Cigna for $54.2bn
US health insurer Anthem has agreed to buy Cigna in a deal that values the latter at $54.2bn (£34.9bn).
Sure Thing plots recruitment drive after promising first year
Scottish-based motor broker Sure Thing claims it has outstripped pre-launch sales predictions by 190% after achieving 80,000 live policies in its debut year, with continued growth expected to lead to a boom in recruitment.
Quiz of the week - 24 July 2015
It’s that time of the week again… Quiz Time!
Gallagher kicks off legal proceedings against Alex Skriptchenkov and Portsoken
Arthur J Gallagher has started legal proceedings against former employee Alex Skriptchenkov and his new employer, Portsoken.
Dual acquires MGA Oliva Underwriting
Hyperion underwriting arm Dual has acquired UK-based property and casualty, contractor trades and marine insurance managing general agent Oliva Underwriting.
Horton confident for the future as Beazley racks up 16% rise in H1 profits
Beazley CEO Andrew Horton has hailed an “excellent first half” for his firm after presiding over a 16% year-on-year increase in pre-tax profits to $154.5m (£99.8m), up from $132.9m at the halfway point in 2014.
ABI applauds MoJ entry into NIHL market
The Association of British Insurers has welcomed a move by the Ministry of Justice to tackle the growing number and cost of claims for noise induced hearing loss.