News
Catherine Read appointed COO for UK and Ireland at Marsh
Marsh has named Catherine Read as chief operating officer for UK and Ireland taking up the post on 4 January.
Man sentenced to life for murder of former Zurich claims handler Kerry Woolley
A man has been sentenced to life for the murder of former Zurich claims handler Kerry Woolley.
NI to change discount rate in New Year
Northern Ireland’s Justice Minister Naomi Long has welcomed the passing of a Bill that will change how the country’s personal injury discount rate is set.
Allianz in Uber tie-up; Assured Partners acquires SW broker; BGL and Covea to launch new direct brand; and Twelve Capital/Eos unveil insurtech focused growth fund
Post wraps up the major insurance deals, launches and investments of the week
Marsh McLennan appoints Francis Bouchard as managing director of climate
Francis Bouchard has joined the Marsh McLennan Advantage team as managing director of climate.
Bought By Many doubles GWP and reveals now live in 28 US states
Bought By Many owner Many Group wrote £146m of gross written premium in 2020/21 with turnover up 113% at £37.13m, the business has revealed.
Incoming Norgrove praised amid market surprise at Egan's RSA departure
Market specialists were surprised by RSA UK & International CEO Scott Egan’s departure but welcomed Ken Norgrove as the new RSA leader and urged him to push on with making the provider more outward looking.
Concerns flagged as nine in 10 OIC portal claimants still represented
The proportion of unrepresented claimants using the Official Injury Claim portal remained below one in ten for its second quarter of operation.
Ardonagh Advisory adds COO and CTO
Ardonagh Advisory has appointed Marcus Golby as chief operating officer and Tom Clark as chief technology officer.
Sampo buys out RMI to take over Hastings in full
Finnish insurer Sampo has paid Rand Merchant Investment Holdings £685m for its 30% stake in Hastings and now owns the whole business.
IMS files patent breach lawsuit over mobile app product from Cambridge Mobile Telematics
Telematics solutions provider IMS has filed a lawsuit against several companies owned by a German motor insurer over an alleged patent breach in a move that could have implications for the wider use of mobile data to personalise pricing.
'Challenging' changes ahead under consumer duty
The Financial Conduct Authority’s consumer duty proposals are set to 'change the face' of the consumer financial services market, experts have said.
Lloyd's to limit cyber exposures to 'best in class' syndicates as it approves £44bn GWP plans
Lloyd’s will remain open to new cyber business in 2022 but only “best in class” syndicates will be permitted to grow their exposures, its chief of markets Patrick Tiernan has said.
RSA UK&I CEO Scott Egan to exit
RSA has named Ken Norgrove as incoming UK & International CEO with Scott Egan to leave the business at the end of 2021.
FCA's consumer duty to cost firms up to £2.4bn
The Financial Conduct Authority has estimated that businesses will face a one-off bill of up to £2.4bn to comply with its proposed consumer duty rules, with ongoing annual direct costs of up to £176m.
Watchdog seeks views on future of financial services compensation
The Financial Conduct Authority is looking for input on a ‘fair and sustainable’ compensation framework.
FCA unveils consumer duty 'to drive a fundamental shift in industry mindset'
The Financial Conduct Authority has opened a consultation on the introduction of a consumer duty highlighting its concerns that financial services do not currently always work well for consumers.
ABI adds Colm Holmes and Clare Bousfield to board
The Association of British Insurers has added Allianz UK CEO Colm Holmes and Clare Bousfield, managing director for retail and savings at M&G, to its board.
Axa to reshape claims leadership following exit of Aviva-bound MD
Axa will not directly replace outgoing executive managing director for claims Waseem Malik, instead splitting responsibility for retail and commercial claims.
Storm Barra bears down on UK and Ireland
Storm Barra is expected to hit the Republic of Ireland before moving across to the UK tomorrow, bringing strong winds and rain in the wake of Arwen’s destruction.
FCA launches consultation on improving AR regime
The Financial Conduct Authority has launched a consultation on improving the appointed representatives regime and tackling harm from this model.
Aviva insures autonomous shuttle trial; brokers outscore insurers in CX research finds; Howden buys again; Gallagher completes on Willis deal and PPL updates on next gen platform
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Marsh appoints head of climate and sustainability insurance innovation
Marsh has appointed Ryan Bond as head of climate and sustainability insurance innovation effective 1 January 2022.
Ex-Morrisons and Poundland chairman Andy Higginson to chair Ardonagh Retail
Ardonagh Group has appointed the former chair of Morrisons and Poundland Andy Higginson as chairman of Ardonagh Retail.