News
Towergate sells 17.9% of shares to LA Fitness owner
Towergate has been partially bought out by LA Fitness-owner Madison Dearborn Partners.
Only one insurance product will take part in FCA's regulatory sandbox
Out of the 24 applications submitted to join the FCA’s regulatory sandbox, just one of those was an insurance product.
Space X satellite explosion creates £158m loss for insurers
The insurance claim for the destruction of an Amos 6 satellite will total $196m (£158m) according to the Tel Aviv Stock Exchange.
SSP appoints Scott Holmes as relationship manager
Broker platform SSP has appointed Scott Holmes as relationship manager to its data and distribution division.
Barbon insurance to cut jobs as part of business restructure
Barbon Insurance is holding a consultation over a dozen jobs in its business following its takeover by Carlyle Group.
Hiscox to ‘shrink’ London Market business in response to rate pressure
Hiscox is “actively reducing” its aviation, marine and energy business in the London Market, in response to severe rate pressure.
R&Q to take on the Law Society of Ireland's run-off portfolio
Randall and Quilter Investment Holdings has bought the portfolio of the Law Society of Ireland in respect of the run-off obligations of the Solicitors Mutual Defence Fund.
Prime Ministerial trips to India see UK edging closer to trade agreements
Recent trips to India have seen London take a step closer to trade agreements, with Lloyd’s ready to set up an Indian branch in 2017 and Sheffield tech firm joining the Prime Minister on her first trade trip.
Lloyd's to open Indian reinsurance branch in 2017
India's Insurance Regulatory and Development Authority has approved Lloyd's application for a reinsurance service in India.
Pre-med settlements are routinely undercutting claimants
Accident victims are routinely offered settlements by insurance companies that are several hundred pounds lower than the amount they are awarded if the case goes to court.
Dual CEO Bains will be replaced by regional board of executives
Talbir Bains, the CEO and chief underwriting officer of Dual, will be replaced in his role by a regional board of senior executives.
Insurance Fraud Summit 2016: Time for brokers and insurers to collaborate
More needs to be done to enhance the collaboration between brokers and insurers when addressing policy holder fraud, as brokers currently feel alienated from discussions.
Aviva appoints Patrick Tiernan as CFO
Aviva has appointed Patrick Tiernan as CFO of Aviva UK General Insurance.
LMG adds three new lines to PPL
Three new lines of business will launch on the London Market electronic placing platform PPL on Monday.
Lloyds outsources claims management to Innovation Group
Lloyds Banking Group has outsourced its subsidence claims to Innovation Group, Post understands.
London market costs 'unsustainable' says Argo CEO
The cost of doing business in the London Market is unsustainable, says Argo Group CEO Mark Watson.
Go Compare celebrates tenth birthday
Go Compare has saved customers over £1bn over its 10 year history, the company said.
Axa sees steady growth continue in Q3 2016
Axa saw group total revenue grow by 1.3% in the UK and Ireland for the third quarter of 2016, up to £3.24bn from £3.2bn from the same period last year.
Brunel Professional Risks acquires PI broker Pinsure
Brunel Professional Risks has acquired Sussex-based professional indemnity broker Pinsure.
Gallagher boosts speciality lines with new appointments
Arthur J Gallagher has appointed Rupert Boyle and Nick Ollerenshaw as executive directors.
Insurance Fraud Summit 2016: Fraud officers will be the first to use Blockchain technology
Fraud officers are likely to be the first within the insurance industry to use Blockchain technology as this is the part of the insurance chain that is most used to collaboration.
Quarter of LGBT community think insurers do not care about them
Almost a quarter of the LGBT community believe that insurers do not care about them.
Insurance Fraud Summit 2016: Insurers must employ data analysts to tackle fraud
As well as embracing technology insurers of the future must employ data analysts to deal with the data it produces or fraud will continue according to RSA’s head of fraud.