News
Bermuda ‘surprised and disappointed' by Miliband tax comments
The Government of Bermuda is "surprised and disappointed" that the island has been included in the list of referenced territories which lack openness in such areas as ultimate beneficial ownership of companies.
ABI welcomes Supreme Court rebuff of Welsh asbestos plans
The Association of British Insurers has welcomed a Supreme Court Judgement denying the Welsh Assembly the right to bill insurers for the treatment costs of patients with asbestos-related illnesses.
Aon creates SME division and strengthens affinity offering
Aon Risk Solutions has launched an SME division bringing together small-business focused areas enterprise and partners, in a bid to broaden its client proposition and create a centre of client excellence.
Reform needed to target industrial deafness claims, says Aviva
Aviva is calling for a significant shakeup into how industrial deafness claims are settled after reporting that 85% of such claims fail to demonstrate any link to workplace noise-induced hearing loss.
Ex-Ifed boss Wood to lead Hastings Direct fraud investigation team
Former Insurance Fraud Enforcement Department head DCI Dave Wood has been hired to lead a specialist investigation team within Hastings Direct’s counter fraud division.
Global CCO forum to be chaired by Allianz chief compliance officer
Allianz group’s chief compliance officer Dr Thomas Loesler, has been appointed chairman of the newly-founded Global Insurance Chief Compliance Officers Forum.
CFC launches new piracy cover with quote-and-buy portal
CFC Underwriting has launched a new marine piracy product, designed to streamline the quoting and buying process.
Six from Keighley charged over crash-for-cash fraud
Six people from Keighley are to appear in court this week after being charged over an alleged conspiracy to commit insurance fraud over a three-year period.
Video: Flood Re CEO Brendan McCafferty
Flood Re CEO Brendan McCafferty tells Post reporter Katie Marriner what attracted him to take on the role as well as what has been keeping him busy since taking the helm of Flood Re in October 2014.
Northcourt launches £65.5m capacity nuclear liability facility
Lloyd's managing general agent Northcourt has launched a global nuclear liability insurance facility initially offering up to $100m (£65.5m) of capacity.
Principal to open Dublin office after Yorkshire Bank backing
Manchester broker Principal Insurance is to open a Dublin office in spring offering a range of motorcycle insurance products.
Anthem Insurance recovering from huge security breach
A huge amount of personal information of employees and customers was stolen from US health insurer Anthem last week.
China's Sunshine buys unopened New York hotel
Sunshine Insurance is set to pay $230m (£151m) for luxury New York property the Baccarat Hotel.
MMC CEO Glaser hails 'outstanding performance' of broking arm Marsh
Marsh & McLennan’s risk and insurance services business has reported revenue of $6.9bn (£4.5bn) in 2014, an increase of 5%, or 3% underlying revenue growth.
Towergate's Lyons hails creditor deal as ‘vote of confidence’ in the broker
Alastair Lyons, Towergate interim CEO, has hailed the deal reached with secured and unsecured creditors as “a vote of confidence” in Towergate and its future strategic plans.
Towergate confirms unsecured bondholders to purchase majority share
Towergate has confirmed that it has reached an agreement to be acquired by its senior unsecured creditors.
Towergate approves creditor takeover
Towergate has formally agreed a deal with its bondholders that will see the company taken over by its unsecured creditors, according to a Reuters report.
Aon posts 3% increase in revenue in Q4
Aon posted a 3% increase in revenue to $3.3bn (£2.16bn) in the final quarter of 2014, primarily driven by 6% organic revenue growth. organic revenue grow by 6% to $3.3bn (£2.16bn) in the final quarter of 2014, the broker’s results published today…
Pen Underwriting acquires Evolution
Pen Underwriting has bought Kent-based Evolution Underwriting Group for an undisclosed amount.
Nationale Suisse sells Belgian subsidiaries
Nationale Suisse has agreed to sell its subsidiary National Suisse Belgium and two underwriting agencies as part of its planned withdrawal from the Belgian market.
Premium rate phone ban to cost insurers £90,000 per year
The proposed ban on insurance companies using premium rate telephone numbers for customers could cost insurers as much as £90,000 a year in lost revenue, according to calculations by technology firm Callstream.
IUA and LMA prepare guidance on Insurance Act changes
The International Underwriting Association and Lloyd’s Market Authority are working with legal specialists to prepare guidance on the impact of the incoming Insurance Act on their members.
Profits rise at Aspen as COR heads south
Aspen Insurance Holdings recorded a year-on-year improvement in net income after tax to $355.8m (£232.4m) for the year ending 31 December 2014, compared to $329.3m in 2013.
Ireland performance was ‘too good to be true’ says RSA CEO Hester
RSA’s performance in Ireland was “too good to be true” and should have been recognised earlier, according to group CEO Stephen Hester.