News
Markel to offer reinsurance on Lloyd's China platform
Markel International is to offer treaty and facultative reinsurance on Markel's Syndicate 3000 at the Lloyd's China platform in Shanghai.
Lexis Nexis database contains 57% of UK no claims history
The Lexis Nexis’ no claims discount database has grown to contain 57% of the UK insurance industry’s no claims history following contributions from a range of insurers.
MGA start-up gambling on growth of HNW homeowner market
Large numbers of homeowners with significant assets are failing to purchase appropriate insurance cover, according to the chairman of a newly launched managing general agency targeting the high net worth market.
Aviva heralds 'fundamentally dishonest' crash for cash victory where fraud was not pleaded
Aviva has heralded a case that exposed phantom passengers and where the evidence led the judge to find the claim ‘fundamentally dishonest’, even though fraud was not specifically pleaded, as a clear warning to fraudsters.
Aviation rate rises ‘more muted’ than initially hoped, says Beazley boss
Intense competition in the aviation market - particularly in the area of war risks - has prevented the industry securing the rate rises necessary following a spate of costly plane losses, according to Beazley’s chief underwriting officer Neil Maidment.
Number of investors seeking Quindell class action tops 500
The number of disgruntled investors seeking to take legal action against insurance claims outsourcer Quindell has grown to 500 and counting, according to law firm Your Legal Friend.
Tysers appoints Lancashire's Blakeborough as COO
Lloyd’s broker, Tyser & Co has appointed Stuart Blakeborough as chief operating officer.
Ex-government minister Mark Hoban named Flood Re chairman
Former Financial Secretary to the Treasury Mark Hoban has been appointed to the role of chairman of Flood Re.
Reduced reserve releases impact Beazley profits
Beazley recorded an 18% reduction in profit after tax from $264m (£173.7m) in 2013 to $217.8m for the year ended 31 December 2014.
Unsecured creditors swoop for Towergate
Towergate's creditors appear to have struck a deal with its unsecured creditors to sell 80% of the broker's equity for £300m, according to a report.
Munich Re's profits fell 3% in 2014
Reinsurance giant Munch Re's chief financial officer heralds 'robust earnings strength' despite a fall in profits for 2014 and a drop in property and casualty volume at renewals.
Peak Re hires Barclays M&A specialist
Hong Kong based reinsurer Peak Re appears to be on the look out for acquisitions with new recruit.
Volume and value of GI acquisitions down in 2014, reports Imas
Mergers and acquisitions in the general insurance sector worth more than £5m completed last year totalled upwards of £3bn, according to Imas' annual review of the sector.
Willis and Miller merger a ‘tragedy’, says Gallagher boss Ross
Willis’ planned acquisition of Miller has been labelled "a tragedy" for the market by Arthur J Gallagher International CEO David Ross.
GRP backs MBO at Lloyd's broker Ropner
London market consolidator Global Risk Partners has backed its second management buyout in three months after agreeing to support an MBO by Lloyd’s marine broker Ropner Insurance Services.
William Hague tops the billing as Biba unveils 2015 conference line-up
The Leader of the House of Commons William Hague MP and Professor Brian Cox have been named among the keynote speakers for the British Insurance Brokers' Association's 2015 conference in Manchester.
Allianz Commercial promotes Dixon as casualty boss Dee departs
Allianz Commercial’s head of property insurance Catherine Dixon has had her remit extended to cover property and casualty following the role departure of casualty boss Chris Dee.
Broking profits rise $59m at Gallagher as acquisition costs spiral upwards
US giant Arthur J Gallagher’s broking operation chalked up net earnings of $263.8m (£174.1m) for the year ended 31 December 2014, compared to $204.8m over the previous 12 months.
Tysers aviation MD Walters jets off to Gallagher
Arthur J Gallagher has hired Tysers’ aviation managing director Mark Walters to lead its own aviation division.
At least 31 dead in Taiwan plane crash
At least 31 people have been confirmed dead after a TransAsia Airways plane clipped a bridge near Taipei, Taiwan's capital, this morning.
Charles Taylor recruits four for Singapore energy team
Charles Taylor Adjusting has recruited four senior members to its Asia-Pacific energy team after losing four of its team to rival LWI last year.
Duff and Phelps to acquire American Appraisal
Global valuation and corporate finance advisor Duff & Phelps Corporation has agreed to acquire global full-service valuation and fixed asset management advisor American Appraisal.
Ageas confirms Stanley’s departure after ‘consultation process’
Ageas’ change and development director will be leaving the business at the end of March, the insurer confirmed today.
Insurance Bill awaits royal assent after passing in Commons
The Insurance Bill passed unanimously in the House of Commons today (3 February) and is now only waiting for Royal Assent to become law.