News
Fitch downgrades French non-life sector forecast
The French non-life insurance sector has seen a revised outlook to negative from Fitch Ratings, moving the sector from its previously stable rating.
Besso secures Clydesdale Bank funding
Besso has secured funding from Clydesdale Bank to support its growth strategy and build-out its expansion into new regions.
QBE succeeds in £500,000 contempt of court action
QBE has won a £500,000 contempt of court action against a customer, who was sentenced to an immediate three month custodial sentence on 15 December.
New CEO for Nordics, Russia and Turkey at AGCS
Peter Hecht-Hansen has been appointed CEO of Nordics, Russia & Turkey at Allianz Global Corporate & Specialty, subject to regulatory approval.
BLM becomes ABI’s first associate member
Law firm BLM has become the Association of British Insurers’ first associate member.
The Standard Syndicate increases reach Scandinavia
The Standard Syndicate 1884 has extended its distribution into Scandinavia, appointing Hydor AS as a Lloyd’s coverholder.
RSA lands Nationwide account from DLG
RSA will take over from Direct Line Group as underwriter for all of Nationwide’s home insurance products from 2017.
Nexus adds to specialist team with Millstream Underwriting
Nexus Underwriting Management has continued its growth, acquiring Millstream Underwriting today (17 December).
Covéa to enter direct motor market in 2016
Covéa Insurance will launch a direct motor insurance offering, with a live date planned for early 2016.
Insurers should prepare for claims after MPs' fracking decision
Insurers must brace themselves for claims from disgruntled homeowners and businesses following MPs voting today (16 December) to allow fracking under national parks in the UK.
Takeover date announced for Crane at LV
Mike Crane will officially take over as managing director at LV broker on 1 January next year.
Road cyclist Dowsett becomes Pedalsure ambassador
Road racing champion Alex Dowsett has become an ambassador for cycling insurer Pedalsure.
London market insurers look to investment returns to support 2016 profitability
One in four London market insurers will rely on investment returns to prop up profits in 2016 amid predicted premium rate reductions of more than 10%, according to a PWC review.
Lloyd's Probitas 1492 to increase general liability limit to £15m
Lloyd's syndicate Probitas 1492 is to increase its employers and general liability limit to £15m from 1 January 2016.
AA disputes Storm Desmond will lead to home premium hike
AA Insurance does not expect claims from Storm Desmond to result in widespread home insurance premium increases because the expected £250m of claims from the event are below the £1bn of claims needed to trigger across-the-board increases.
Ex-Zurich UK boss Smith joins Lockton as NED
Former Zurich UK general insurance CEO Dave Smith has joined broker Lockton Companies as a non-executive director advising the boards of Lockton and its managing general agency Mapledown Underwriting.
Review of the Year: General Insurance
The past year has been a rollercoaster ride for general insurers, with tough market conditions serving as a backdrop for highs, such as strategic consolidation and a £1bn whiplash windfall, and lows, including the Insurance Premium Tax hike and struggles…
DWF to acquire German law firm Bridgehouse Law
Defendant law firm DWF is to acquire German international commercial firm Bridgehouse Law on 1 January 2016.
Blanc hails ‘heartening' full-year figures at Aston Scott
Aston Scott Group has reported a 6.4% increase in its fee and commission income for the year ended 30 June 2015 to £17.8m (2014: £16.7m).
Towergate embarks on a 100-strong recruitment drive to grow sales force
Towergate Insurance Brokers is embarking on a recruitment drive of sales executives and sales leaders as it looks to grow its advisory sales force by 100 over the next two years and open new offices.
Lloyd's to launch index in 2016
Lloyd’s of London today plans to launch its own insurance-based index in mid-2016. The index will show diversified risk, loss ratios and be focused on insurance performance.
Covéa uses behavioural techniques to make policies easier to understand
Covéa Insurance has revamped its private car policy with the aim of making it easier to understand and more appealing for customers to read.
GAP product to go to market via Maltese PCC
Maltese protected cell company Building Block will partner with UK-based broker Nova Insurance to provide a new guaranteed asset protection (GAP) product.
Editor's Comment: 2015: A year in review
Christmas is a time for reflection on the past year and to think about what 2016 might bring.