News
Pioneer launches Lloyd's Sub-Syndicate 1980
Pioneer Underwriters has launched its Lloyd’s Sub Syndicate 1980 in conjunction with Liberty Syndicate 4472.
JLT buys Lambert Brothers in Hong Kong
Jardine Lloyd Thompson has expanded its footprint in Hong Kong by buying local insurance broker Lambert Brothers.
India to review foreign ownership threshold of intermediaries
The Insurance Regulatory Development Authority has formed a panel to look at increasing the foreign ownership threshold of Indian intermediaries and third party administrators from 26% to 100%.
Allianz warns on interconnectivity of risks
Business interruption, the supply chain, natural catastrophes, fire and explosions are the main global risks to businesses according to the third annual Allianz Risk Barometer, which surveyed over 400 corporate insurance experts from 33 countries.
Biba manifesto sparks hope the burden of regulatory cost will be addressed
FCA urged to find areas for savings and be more transparent.
Mesothelioma Bill’s 75% compensation cap outcome is ‘extremely fair’
Bill edges closer to royal assent as claimant bodies vow to continue to fight limit.
2014 tipped to see consolidation surge as sector’s M&A appetite increases
Regulatory certainty, soft market and economic recovery make deals likely.
RSA weighs up fund-raising options as it seeks to avoid rating downgrade
Insurer facing potential £35m fine and may need to raise up to £300m in capital.
Signposting agreement proves worth with more than 100 000 referrals
More than 100 000 older motorists and holiday makers have accessed the signposting agreement forged by the insurance industry and the government since it came into force in April 2012.
Cost of regulation among key issues on 2014 Biba maniesto
The British Insurance Brokers’ Association has delivered its “calling card” to the government in the form of its 2014 manifesto in which the cost of regulation and the challenges faced by SMEs feature prominently.
Marsh boss raises doubts over customer benefit of quota share deals
Marsh UK and Ireland chief executive Mark Weil has admitted that doubts remain over the customer benefits of quota share deals, such as the arrangement made last year between Aon and Berkshire Hathaway.
Airmic selects BLM as a preferred service provider
The UK association for risk and insurance management professionals has appointed law firm Berrymans Lace Mawer as a preferred service provider.
Kingsbridge sells minority stake to private equity firm
Insurance broker Kingsbridge Risk Solutions has sold a minority stake to Isis Equity Partners, in a deal preserving the structure of the business.
Oval staff informed of Gallagher talks ahead of March deal
Oval staff have been informed about the broker being in exclusive acquisition talks with Arthur J Gallagher, a source close to Oval has said.
Compass targeting South East growth following Joy hire
Arthur J Gallagher is targeting regional network growth following the appointment of former MMA network and partnership manager Steve Joy to the role of business development manager for Compass Broker Services in the South East.
Questgates questions EL and PL portal benchmarking
Loss adjuster Questgates has questioned the practice of benchmarking performance based on the retention rates for employer's liability and public liability claims within the Ministry of Justice's portal.
Am Trust replaces Allianz as Affinion's underwriting partner
Am Trust Europe has reached an agreement with Affinion International to underwrite the customer loyalty and engagement products provider’s UK insurance products.
Skuld bolsters casualty management with new role
Norwegian marine insurer Skuld has appointed Sandro Vuylsteke to a new role of global casualty co-ordinator.
US politicians demand investigation into Target data breach
US House Democrats have requested a probe into the data breach which resulted in at least 110 million customers of US retailer Target having personal information stolen.
Town joins Barbican as non-marine reinsurance underwriter
Barbican Insurance Group has appointed Lucy Town as an underwriter in the firm’s non-marine reinsurance department, with immediate effect.
One dead and 52 homes destroyed by bushfires in Western Australia
A man has died on the roof of his home and 52 homes have been destroyed in the Perth hills as Australia suffers a serious heatwave.
Japan's regulator to ban subcontractors selling insurance
The Financial Services Agency in Japan is expected to to ban insurance agencies from allowing subcontractors to sell insurance products.
Outstanding catastrophe bonds hit record
As at 31 December 31 2013, total catastrophe bond limit outstanding had reached $20.3bn the highest level in insurance-linked securities market history according to Aon Benfield Securities.
Towergate completes triple acquisition
Towergate has inked deals to acquire Canworth Commercial, Irvine Insurance Services and John Fairley Insurance.