News
Axa invests in 'pioneering' blockchain technology specialist Blockstream
Axa Strategic Ventures, the €230m (£175m) venture capital fund set up by the French insurance giant, has today announced it is co-leading a $55m (£37.5m) Series A funding round for Blockstream.
Gallagher to snub 'major' deals in 2016 and may raise up to £300m from debt markets
Arthur J Gallagher chairman, president and CEO Patrick Gallagher Junior has today said the firm has no “large deals on its plate” and that any buys would be “tuck in” ones.
Towergate hires chief transformation and change director
In his new role, James Barnard will play a key role in driving the change programme seen as pivotal in transforming the broker.
Women of the World festival to feature CII and AIG input
The Chartered Insurance Institute has teamed up with AIG to lead the conversation at the forthcoming Women of the World festival about risks faced by women in society and how the insurance profession can respond.
HCML partners with Physitrack to offer home exercise technology
Rehabilitation provider HCML is striving to improve recovery outcomes by offering home exercise technology to the 40,000 individuals cared for each year under its rehabilitation and case management services.
Pro Sight MD Mageean reunites with McManus at PIB
PIB Insurance Brokers has recruited Pro Sight managing director Bernard Mageean as MD for underwriting and placement.
Chaucer Direct to be rebranded as Geoffrey Insurance Services
Markerstudy is to rebrand Chaucer Direct as Geoffrey Insurance Services from March.
Zurich mulls shrinking businesses in light of poor underwriting results
Poor underwriting results at Zurich have led the Swiss-based insurer to consider shrinking parts of its businesses, according to chief risk officer Cecilia Reyes.
Gallagher sees 2015 broking profits rise by 1% despite Q4 dip
Arthur J Gallagher’s broking division recorded a marginal increase in profits to $266.4m (£186.3m) last year, representing a 1.3% uptick on the $262.9m it generated in 2014.
Davies becomes claims partner with sports specialist JRW
Davies Group has been appointed by sports and leisure specialist The JRW Group as claims partner across all lines.
Durrant to join Marsh's claims team in Hong Kong
Kevin Durrant, head of customer management claims - Hong Kong at Zurich, is moving to Marsh later this month.
Bailey challenged to prove his independence in FCA role
Incoming Financial Conduct Authority CEO Andrew Bailey has been challenged by an MP to prove his independence from the government after accusations he was "hand-picked" by Chancellor of the Exchequer George Osborne to take on the role.
80% of UK insurers mulling aggregator launch
More than 80% of UK insurers are considering setting up their own aggregator site, according to Accenture.
Swinton appoints CDL as insurance software supplier
High street broker Swinton Insurance has appointed CDL as its new insurance software supplier.
Elite to stop writing solicitors' PII as falling rates take a toll
Unrated carrier Elite Insurance is withdrawing from the English and Welsh solicitors’ professional indemnity insurance market.
Hefty FCA fines highlight importance of delegated authority chain controls
The £15.5m of fines handed to individuals and firms involved in the collapse of several unrated insurers operating in the solicitors' professional indemnity market have highlighted the need for all parties involved in the delegated authority chain to…
Canopius retail boss Tim Rolfe to step down next month
Canopius retail CEO Tim Rolfe is to depart the specialist Lloyd’s market company at the end of March after more than five years in the retail hot seat, Post can reveal.
#Postpeople: 2 - 8 February 2016
All the latest insurance industry market moves between 2 and 8 February 2016 in full in one place.
Insurer savings predicted as report dispels poison gas concerns
The insurance industry and the credit hire sector look set to resume hostilities following an independent study that found insurers are spending millions on credit hire and repair claims for vehicles that are perfectly roadworthy.
Flood Re completes reinsurance procurement
Flood Re has secured the remaining reinsurance capacity required for its three-year £2.1bn programme.
Pen launches improved coverholder offering
Pen Underwriting has launched an improved coverholder offering for delegated commercial lines business after a review of its service and support framework.
Axa CEO de Castries warns UK against 'serious consequences' of EU exit
Paris-based Axa CEO Henri de Castries has issued a stark warning ahead of a UK referendum on EU membership by stating that an exit would spark “very serious consequences” for the City of London.
International Group of P&I Clubs in talks with US over Iranian oil coverage
The London-based International Group of Protection & Indemnity Clubs is in talks with the US government to find a way to insure Iranian petroleum shipments, now that sanctions over Iran's nuclear program have ended.
Towergate to develop corporate and mid-market niches with triple hire
Towergate has created three new roles to support plans to strengthen and grow its corporate and mid-market practice with niches and specialisms.