News
Gable chairman Sofaer steps down
Lichtenstein-based Gable Holdings' non-executive chairman Michael Sofaer has stepped down from the board to concentrate on family and other business commitments, the company has announced.
Suncorp's reinsurance "issue" could cost £60m
Australian financial services group Suncorp has been advised there is a potential issue with its recovery of catastrophe losses from its 2011 reinsurance programme.
Willis Q4 2014 net income grows 11.8% against full year drop
Willis Group has reported a net income for the 12 months ended 31 December 2014 of $362m (£237m), a decrease from its 2013 result of $365m.
Snowball gives no reason for Suncorp exit
Industry giant Patrick Snowball is set to leave Australian financial services group Suncorp where he is group CEO.
Government launches UK driverless car trials
The launch of three UK driverless car trials has been hailed as a step towards safer roads while research from aggregator Uswitch has revealed half of UK consumers would be unwilling to be a passenger in such a vehicle.
Insurers must be ready for more business interruptions
The issue of a cyber-attack causing a business interruption is growing, delegates at the Advisen Cyber Risk conference in London were told today (10 February).
Home market failing to price for long-term weather risk
The home market remains significantly more profitable than its motor counterpart but insurers may be failing to price for long-term risk, market analysts fear.
Mesothelioma payment tariffs to be increased to 100%
The government is bringing forward regulations to increase the tariff of payments made under the diffuse mesothelioma payment scheme from 80% of average civil claims to 100%.
Gallagher warned to batten down the hatches as Ross targets Towergate turnaround
David Ross’s success as Towergate CEO will hinge on the nature of the executive team he is able to assemble, according to market insiders, who have suggested Arthur J Gallagher International should brace itself for a raid on senior staff.
DAS promotes Burke to CEO as Asplin departs
Legal expenses insurer DAS has promoted Andrew Burke to the role of CEO ahead of the departure of Paul Asplin.
Hood Group to launch new More Than travel product
More Than has appointed affinity insurance provider Hood Group to launch its new travel insurance product
MSIG appoints Graeme Rayner as CUO
Mitsui Sumitomo Insurance Group at Lloyd’s has promoted Graeme Rayner to chief underwriting officer.
Bupa launches tiered IPMI product range in the UK
Bupa Global has launched its first tiered range of international private medical insurance products in the UK.
Towergate appoints CFO Egan as interim CEO
Towergate has appointed chief financial officer Scott Egan as interim CEO, following news of David Ross’ departure.
Ferma secretary general Meyer credited for contribution to industry
The Federation of European Risk Management Associations' secretary general Edwin Meyer has died, the organisation announced on 9 February.
Catlin sees 2014 profits jump 13% to £320m
Catlin has reported a 13% increase in profit before tax to $488m (£320m) for the year ended 31 December 2014 (2013: $432m).
Cybercrime cost Singapore companies S$2bn in 2014
Cybercrime cost businesses in Singapore S$2bn (£980m) last year according to official figures.
XL's Vigar leaving Singapore for Japan
Andrew Vigar, country manager Singapore, XL is relocating to become the specialist insurer's country manager for Japan.
Ex-Gallagher boss Ross begins Towergate journey after Highbridge confirms swoop
David Ross, CEO at Arthur J Gallagher International, has resigned after 25 years at the broker to join Towergate's investment vehicle.
LMA claims committee elects new members
Tony Rai of Hiscox, Simon White of Apollo, Sharon Long of Catlin and Ashley Lawrence of Argo have been elected to the Lloyd’s Market Association Claims Committee for a two year term starting from 31 January 2015.
MA Group invites Guest to lead new property venture
Flood repair specialists the MA Group have hired Ian Guest from Allianz to head up a new property venture.
David Ross lined up for Towergate CEO role
Arthur J Gallagher International CEO David Ross is set to leave the company and take over at Towergate.
Improved social media engagement a 'key priority' for insurers
Insurance companies have conceded more needs to be done to embrace social media as a tool to engage with consumers after a survey ranked the industry among the worst performing sectors in terms of online presence.
The County Group reports growth and targets acquisitions
Broker The County Group has reported an 18% increase in organic growth for its financial year 2013/2014