News
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.
More than one-third of UK consumers happy to share Facebook data for lower premiums
More than a third of UK consumers are happy to share Facebook data with insurers for lower premiums.
Brightside targeting brokers for acquisition
Brightside is targeting commercial and personal lines brokers for acquisition.
Shah to leave JLT Asia
Ronak Shah, regional director of financial lines for Asia at JLT, will soon be leaving the UK-headquartered broker for an international insurer.
NMU declines to comment on rumours of office closures
NMU has declined to comment on rumours that it plans to consolidate its Letchworth, Kent and London offices.
Insurtech start-up Sherpa partners with Gen Re to offer tailored policies
Insurtech start-up Sherpa has partnered with Gen Re in order to provide tailored risk coverage scores personal lines insurance policies.
London failing to stem reinsurance decline, says LMG
The London market is losing ground as a global centre for reinsurance and faces significant challenges in emerging markets and diversity, according to the London Market Group
13 insurance firms make it onto the London Stock Exchange 1000 Inspirational Companies List
Nexus underwriting has made the London Stock Exchange 1,000 Inspirational Companies List alongside 12 other insurance companies.
Reinsurance pricing won't turn this year, says Fitch
Reinsurance pricing is unlikely to change its course over the next year, with soft market conditions expected to continue and further pricing declines anticipated, according to Fitch Ratings.
ERS appoints ex-AA head of counter fraud
ERS has hired ex-AA head of counter fraud, Steve Gaywood, as the new head of counter fraud for the syndicate.
Costa Concordia captain's sentence upheld
The captain of the Costa Concordia, which capsized in 2012 killing 32 people, has had his 16-year jail sentence upheld.
QBE merges underwriting divisions to form 'Brexit friendly' business
QBE is to combine its underwriting divisions to form a single "Brexit friendly" business.
Axa tops Brokerbility bi-annual survey
Brokerbility has completed its bi-annual member survey, with Axa retaining the top spot for the eighth year running.
NHS attack highlights industry's 'wrong direction' on cyber
A ransomware attack on the NHS has highlighted the “wrong direction” the insurance industry has taken on cyber, experts have warned.
AIG appoints Duperreault as CEO
AIG has appointed Brian Duperreault as president and CEO, replacing Peter Hancock.
MIB appoints Anna Fleming as COO
The Motor Insurers' Bureau has appointed Anna Fleming to the role of chief operating officer, following her role as acting chief claims officer at Zurich.
Updated: Markerstudy flagged as credit risk on Biba Litmus Test
Markerstudy has been flagged up as a credit risk on a ‘litmus test’ of unrated insurers by the British Insurance Brokers’ Association.