News
Ed appoints James Blacker as P&C managing director
Global reinsurance, wholesale and specialty broker Ed has appointed James Blacker as managing director of property and casualty.
Exin buys 75% stake in Ethniki as it looks to drive 'renaissance for the industry'
Exin Financial Services has purchased a 75% stake in insurer Ethniki Hellenic General Insurance from National Bank of Greece for €718m (£631.8m).
Darag names Stuart Davies chairman
European run-off insurance company Darag has named Stuart Davies as chairman of the group.
European broker merges with tech firm to create Digital Insurance Group
European digital insurance broker Knip has merged with technology solutions provider Komparu to create Digital Insurance Group.
Direct Group mulls ‘acquisition opportunities’ following takeover by Towergate backer
Newly-renamed Direct Group will “consider acquisition opportunities” following its own takeover by Towergate-backer KIRS Group.
Insurers fear revenue is at risk to disruptors entering the market
Insurers are worried that their revenue is at risk from insurtech, with over one in eight insurers fearing that they could lose revenue to disruptors entering the market.
Allianz's global commercial arm opens Seoul office
Allianz Global Corporate and Specialty, the international business division of the Munich-headquartered insurer, has opened an office in Seoul.
Medical provider gains Lloyd's coverholder status in Hong Kong
Global health insurer ALC Health, known as a la carte healthcare, has become a Lloyd's coverholder in Hong Kong and opened an office in the Special Administrative Region.
80% of claims from Cyclone Debbie are residential
Damage to homes and contents have made up 80% of almost A$1bn (£590m) of claims from deadly Tropical Cyclone Debbie.
QBE creates chief customer officer role
Australian global insurer QBE has made an internal appointment to fill a new position of chief customer officer for Australia and New Zealand.
Kennedys reports an 8% increase in global turnover
Kennedys has reported an 8% increase in turnover for the financial year 2016/17 of £149.9m (2016: £138.8m).
Zurich enters global car rental market following acquisition of Halo
Zurich has acquired Halo allowing it to enter the global car rental market.
MS Amlin's European business heads to Belgium due to Brexit
MS Amlin is to re-domicile its European business, Amlin Insurance Societas Europaea to Belgium in response to Brexit.
Antares adds David Hobbs, Mike Finch and Paul Grimsey to its board
Lloyd’s managing agent Antares has appointed internal candidates to the roles of chief operations officer and finance director and added both executives and its chief actuary to its board.
LMA launches claims management hub for Lloyd’s carriers
The London Market Association has approved the creation of a claims expert management hub for Lloyd’s carriers.
Government looking to drop 'outdated' discount rate formula
The government is looking to move away from the “outdated” Ogden discount rate mechanism, the City Minister has said.
Businesses to face bigger costs for ransomware attacks
Businesses are being warned that they could face greater financial fall-out if they become victim to a cyber or ransomware attacks, following the Petya attack on Tuesday.
IAG lifts full year guidance on higher reserve releases
After a tough year of natural catastrophes Sydney-headquartered insurer IAG has raised its margin guidance range for the full financial year after announcing higher than expected reserve releases.
Awareness of many business covers in Hong Kong is low, says QBE
Research from Australia-headquartered insurer QBE suggests SMEs and large businesses have a costly insurance knowledge gap in Hong Kong.
New Zealand's Tower backs Suncorp's bid
New Zealand insurer Tower's board is now favouring Suncorp's bid for the company over Fairfax Financial.
Government should rethink stance on single market access: Scotland's Brexit Minister
Theresa May’s government should rethink its stance on a hard Brexit and single market access, Scotland's Brexit minister has said.
Watchstone names Stefan Borson as successor to outgoing CEO
Watchstone has named Stefan Borson as the successor to outgoing CEO Indro Mukerjee, who will resign at the end of the year.
Government to introduce ILS framework in the autumn
The Government is to introduce a framework for Insurance Linked Securities before parliament with the hope of getting it up and running in the autumn, the Economic Secretary to the Treasury, has said.
Equivalence is not a substitute for mutual market access agreement: ABI
Regulatory and Solvency II equivalence is not an adequate replacement for a proper agreement on mutual market drawn up by government, the industry has heard.