News
Tradex borrows £7m to meet Solvency II requirements after Ogden rate hit
Tradex has borrowed £7m from its parent to maintain its solvency capital position in the wake of the Ogden discount rate change.
Post People 22 - 26 May 2017
This week's key appointments across the industry.
QBE appoints head of negotiated lines for Australia and New Zealand
QBE Australia and New Zealand has appoined Alex Green as head of product – negotiated lines.
Covea sees profits treble following Sterling integration
Covea has seen its pre-tax profits almost treble from £12.9m to £38.4m last year despite “headwinds” from the Ogden rate change.
Insurtech guru to stand as MP to protect start-ups
A senior insurtech boss will stand as an independent MP in the next election, as part of a mission to safeguard the economic environment for insurance start-ups.
This Week: Menace, manifestos and managing general agents
There is a menace in my house in the form of water. First it caused problems in my kitchen (as many of you will remember) and now it's found its way out of the bathroom.
Beazley to open Birmingham office to tap into regional market
Beazley will open an office in Birmingham with 100 staff to target the intermediated regional market.
Lloyd's insurers join forces to form political risk consortium in Asia
Beazley, Chaucer and Talbot have joined forces to form a political risk consortium in Asia offering increased capacity for a wide range of political and contract frustration risks.
Conservative manifesto could lead to reversal of discount rate decision says Apil
The reintroduction of whiplash reform if the Conservatives win the election could come with a reversal of the discount rate, the Association of Professional Injury Lawyers has warned.
Lexis Nexis brings motor claims loss predictor to market
Data analytics firm Lexis Nexis have developed a new predictor of motor claims loss.
Development of Medco platform stalled by election
The development of the Medco platform is being stalled by the shelved whiplash consultation and the general election.
Fraud, corruption and poor governance risks are top future business concern
Boardroom risks, defined as fraud, corruption and poor governance, is the top concern for UK businesses, according to CNA Hardy.
CGI recruits former LV digital head Paul Wishman as global insurance VP
Former LV e-commerce director Paul Wishman has been appointed vice-president of global insurance at CGI.
Tory manifesto pledges to 'consider ban' on cold calling for personal injury
The Conservative Party has pledged to consider a ban on cold calling for personal injury claims if it wins the general election.
Ageas to use AI tech in motor claims handling
Ageas will use Artificial Intelligence in its motor claims handling, using software to assess damage based on pictures.
Markel to set up German subsidiary in light of Brexit
Markel will apply for regulatory approval to establish an insurance company in Germany in light of Brexit.
Reporting standards are 'biggest shake up' of insurance for decades
The International Accounting Standards Board today released IFRS 17, a “fundamental overhaul” of insurance accounting.
Lloyd’s invites staff redundancies amid challenging market
The Corporation of Lloyd’s has issued a letter to staff inviting them to register for voluntary redundancy.
No plans to reopen legal challenge against shuttered North Korean insurer
A long-running legal dispute between North Korea’s state-run insurance firm and a group of reinsurers will not be reopened, even as the insurer’s assets were frozen by the UK government.
Chubb hires ex-FSA chairman Lord Turner
Chubb has appointed Adair, Lord Turner as non-executive chairman of two of Chubb European Group and Chubb Underwriting Agencies.
Aviva lifts email block after being on cyber lock down
Aviva has taken precautionary measures against the Wanna Cry ransomware attack which happened last week by going into cyber lockdown.
Industry set against merger of EU insurer and bank regulators
Proposals to merge the European Insurance and Occupational Pensions Authority with the European Union’s banking regulator would damage the effectiveness of consumer protection and prudential oversight, according to Insurance Europe.
Post People: 08 - 12 May
The latest people moves in the industry.
SSP: Normal service resumes after latest outage
Brokers faced a day of intermittent service on the SSP platform yesterday, in a fault which the software house says has now been fixed.