News
Lloyd’s first-ever female CEO Inga Beale signals new era for insurance industry
Canopius CEO’s experience makes her ‘ideal’ replacement for Richard Ward
Sompo agrees deal for Canopius
Japan’s NKSJ Holdings has agreed a deal to acquire 100% of the shares of Canopius Group via its insurance subsidiary Sompo Japan Insurance.
FCA urged to probe premium finance arrangements after TCF accusations
Whistleblower says ‘nearly all’ big brokers are shortchanging their customers
Indonesia to roll out world's largest healthcare scheme
The Indonesian government alongside state-owned insurers will roll out an ambitious healthcare scheme for over 100m people starting in January.
Capita launches Lloyd's Singapore policy and cash management platform
Capita Insurance Services has launched the first market service for the Lloyd's community in Singapore which will help brokers and managing agents with their policy administration.
Lark buys £40k CR Goddard book
Lark has purchased a small book of predominantly private client business from East Sussex broker CR Goddard.
Chris Wood to retire from Chaucer aviation post
Peter Wakefield has been appointed Chaucer aviation division head following the retirement of Chris Wood.
RSA’s A- S&P rating “seriously at risk”
RSA may be facing a further downgrade from rating agency Standard and Poor’s putting the insurer’s most significant operations outside the range of many of its business partners.
Biba welcomes CC recommendations on most-favoured nation clauses
The British Insurance Brokers’ Association has welcomed the Competition Commission's move to act on “anti-competitive” most-favoured nation clauses.
KPMG: Competition Commission reforms superseded by price battles
A combination of technological change and competitive market forces will likely exert greater pressure on the cost of motor insurance than reforms proposed today by the Competition Commission, according to KPMG.
Gallagher acquires Bergvall Marine
Arthur J. Gallagher has acquired Norway-based marine broker Bergvall Marine for an undisclosed fee.
Mobile phone cover complaints down 20%: Ombudsman
Complaints on mobile phone cover have dropped by a fifth for the year to date according to the Financial Ombudsman Service, which has paid tribute to willingness from insurers to collaborate on complaints.
Novae plays down speculation of imminent Antares deal
Novae has attempted to pour cold water on speculation linking the firm with a bid for fellow Lloyd’s player Antares by stating that “there is no certainty” of a deal taking place.
Zenith teams with Broker Direct on household cover
Broker Direct has inked a deal for Zenith to underwrite all of its Home Options business from 2014.
ABI boss claims CC findings on motor repairs contain 'fundamental flaws'
The Competition Commission’s findings on vehicle repair is at odds with insurers’ own complaints data, the Association of British Insurers has claimed.
Bluefin subsidiary partnership offers tailored diving products
Bluefin subsidiary Bishop Skinner Marine has partnered with the British Sub-Aqua Club to launch two insurance products tailored for the club’s members.
DVLA cuts insurance checks on tax renewals
Motorists will no longer need motor insurance policies to be checked when getting their vehicle tax after changes by the Driver and Vehicle Licensing Agency.
Credit Hire Organisation slams CC motor proposals
The Credit Hire Organisation has criticised the Competition Commission’s motor proposals saying they would disadvantage non-fault drivers and reduce competition by favouring insurers.
S&P points to 'weak management' at RSA following downgrade
Standard & Poor’s has attributed a succession of profit warnings at RSA culminating in the resignation of chief executive Simon Lee for its decision to downgrade its ratings on the company and its core subsidiaries to 'A-' from 'A'.
Senior Wright Indemnity to rebrand as MGB following sale
Lloyd’s broker Senior Wright's indemnity business will change its name to MGB Insurance Brokers following its acquisition by Manchester Underwriting.
Zurich swoops for Swiss Re CFO Quinn
Zurich Insurance has confirmed the recruitment of Swiss Re’s chief financial officer with effect from May 2014.
Crawford surveyors receive RICS accreditation
Adjusting giant Crawford & Company has seen its surveying services division handed accreditation by the Royal Institute of Chartered Surveyors.
Credit hire process adds £150m to motor premiums says CC
Motor insurance premiums are being unnecessarily inflated by the complex chain for the settlement for non-fault claims, the Competition Commission has found after a yearlong review.
LAS targeting claims response times with scheduling software
LAS Claims has unveiled new scheduling software that it boasts will radically improve claims response times.