News
Bid to cut red tape set to enhance UK insurance market’s competitive position
Insurance Growth Action Plan aims to remove barriers for UK insurers overseas.
Adjusters sceptical over ‘organic growth’ plans after Davies seals Garwyn deal
Sources say Davies CEO Saulter’s background points to further M&A activity.
Credit hire portal set for 2014 launch as backers put faith in motor inquiry
Committee confident Competition Commission will draw ‘right conclusions’.
Industry plays down impact of St Jude and Xaver storms on full-year results
Losses expected to be ‘in tens of millions, not high hundreds of millions’.
Howden expands Nordic footprint with deal for Finnish broker
Howden Broking Group has acquired of a majority share in Finnish broker Colemont Finland Oy from AmWins subsidiary Colemont Global Group.
Chilton tipped to help Gallagher overcome previous reinsurance failings
‘Challenger brand’ expected to benefit from former Benfield CEO’s expertise.
Insurance Technology Conference: Insurers must wake up to the risks of misusing data
Data presents huge opportunities for insurers but the potential for misusing it is a serious risk for the industry, according to speakers at Post's Insurance Technology conference.
Insurance Technology Conference: SSP director Waring criticises ‘naive’ insurers for lacking digital strategies
Insurers vastly overestimate their digital capabilities and risk losing customers to better-equipped competitors, according to SSP director David Waring.
European PI market to be worth £6.27bn by 2017
The professional indemnity insurance market across 10 European countries - Austria, Belgium, France, Germany, Italy, Netherlands, Poland, Spain, Switzerland and the UK- will be worth around €7.5bn (£6.27bn)by 2017.
Dutch non-life market “stable” says Fitch
Non-life insurers in the Netherlands face a stable environment in 2014, in spite of continued pressure on the health market.
Fitch Ratings expects further Malaysia market consolidation
In an outlook report, Fitch Ratings believes the requirement for composite insurers to segregate operations into life and general insurance units could mean further consolidation in the market.
Geneva Association head to step down
The Geneva Association’s Secretary General, John Fitzpatrick, has informed the board that he will not stand for reelection at its general assembly in May 2014.
First Singapore riots in 30 years
27 people were arrested in Singapore yesterday after a riot in Little India was triggered by the death of an Indian national.
HKFI raises doubts on Hong Kong government health scheme
The Hong Kong Federation of Insurers has hailed the progress made by private medical insurance in Hong Kong and says it has doubts over the effectiveness of the proposed Health Protection Scheme.
Lloyd's MGA Lime Underwriting to offer financial lines
US Risk (UK), which owns Oxford Insurance Brokers and James Hampden International, has started Lime Underwriting, a managing general agent at Lloyd’s, for the UK and international financial lines sectors.
UK leads Europe for PI cover
The UK has the largest market for professional indemnity insurance in Europe according to research by Finaccord.
L&G GI head Diane Buckley to leave insurer
Legal & General's general insurance managing director Diane Buckley, pictured, is to leave the business amid a company restructure.
Liberty Mutual wholesale manager Goodearl joins XL
XL Group has appointed Lewis Goodearl as chief underwriting officer UK property and casualty for its Lloyd’s business.
Open GI appoints insurer relations exec
Open GI has grown its insurer relations team with the appointment of Siân Nicholls as insurer relations executive.
Barbon finance boss to depart in 2014
Barbon finance director Kevin Withington will leave the broker early next year after turning down the opportunity to relocate to Lincoln.
TSC to unveil report to government’s whiplash response
The Transport Select Committee has agreed to publish its Eleventh Special Report of Session 2013-14 on 12 December.
Gorkana founder backs insurer network
Insurance social network My Slipcase has gained backing from the founder of public relations site Gorkana, less than 18 months after launching.
Broker Baronsmead hires Andrew Ducat as client service head
Specialist financial risk broker Baronsmead has appointed Andrew Ducat as partner and head of client service.
Patria Re targets London market with new office
Mexico City-based Latin American insurance and reinsurance specialist Patria Re has opened a new marketing office aimed at the Lloyd’s and London market.