News
MGAs risk huge losses from mispricing cyber: Chilton
Managing general agents who lack specialist knowledge are at risk of unintentionally providing underpriced, 'silent' cyber cover in policies, outgoing Gallagher CEO Grahame Chilton warned.
Brexit White Paper will transform industry into ‘rule taker’
The government’s blueprint for a future trading relationship with Europe would be the “worst possible scenario” for the insurance industry, trade bodies have warned.
Ignition Select has administration extended by a year
Collapsed Ipswich-based broker Ignition Select has had its administration period extended by a year.
Advent and Brit owner looks to merge Lloyd’s businesses
Fairfax Financial Holdings, the parent of Advent Capital Holdings and Brit, is planning to merge some of their Lloyd’s business and place the rest into run-off.
PIB eyes Europe expansion
Broker consolidator PIB will look to grow in Europe, CEO Brendan McManus told a conference.
Flood Re sets out 2039 plans for affordable pricing
Flood Re has set out its long-term vision for when it exits the market in 2039.
Call out rogue MGAs, urges Chilton
Grahame Chilton urged attendees of the Managing General Agents Association’s annual conference attendees to call out rogue MGAs.
Charles Manchester warns MGAs of hurdles ahead
Speaking at the MGAA conference today, chairman Charles Manchester warned that the next hard market could be the shortest ever.
Insurtech start-up Next raises $83m
US-based insurtech start-up Next Insurance has raised $83m in a Series B funding round led by Redpoint Ventures and including Munich Re.
Axa reveals new brand for XL
XL will rebrand as Axa XL and combine all its property & casualty business and specialty risks into the new entity.
Lloyd's launches insurance matching site as digital push continues
Lloyd’s has launched Lloyd’s Bridge a digital distribution platform designed to connect insurance businesses with Lloyd’s underwriters.
UK General appoints Ryder as NED
Exclusive: UK General has appointed Clare Ryder as a non-executive director.
Former Zurich boss launches boutique broker to buck consolidation trend
Exclusive: A former Zurich Private Clients executive has launched Provenance Insurance Brokers, a start-up high net worth and commercial broker.
NHBC first to agree to pay out over Grenfell-style cladding claim
The National House Building Council has agreed to pay out a claim over dangerous cladding at Greenwich complex New Capital Quay.
LSM takes on Ironshore renewals to spur European growth
Liberty Specialty Markets has entered into a renewal rights agreement with Ironshore Europe to take on its European non-merger & acquisition business and staff.
Das v Asplin: Asplin guilty in fraud case
Paul Asplin, the former CEO at Das, was found guilty of fraud charges alongside ex Das claims director David Kearns and former wife, Sally Jones.
Covéa regional restructure leads to redundancies
Covéa is changing its regional structure, leading to 11 redundancies.
Ardonagh backers acquire firm from CBL
Ardonagh Group owners Highbridge Principal Strategies and Madison Dearborn Partners have bought fee protection insurance provider PFP from failed carrier CBL.
Claudio Gienal to replace Blanc as Axa CEO
Axa has appointed Claudio Gienal and CEO of Axa UK and Ireland, replacing outgoing CEO Amanda Blanc.
Acord, Aon and Beazley team up on first data breach standard
Acord, the global standards-setting body for the insurance industry, has published the sectors first standard for a cyber data breach.
Amanda Blanc calls out lack of diversity on Biba advisory board
Exclusive: Former Axa UK CEO Amanda Blanc, who is currently on gardening leave, has hit out after the British Insurance Brokers Association tweeted a photo of an all-white, all-male Large Brokers’ Advisory Board.
This month in Post: Prizes, proposals and pledges
This month began with a bang as the annual British Insurance Awards highlighted the talent in the sector in 1950s style, with industry stalwart John O’Roarke being handed the Achievement Award.
PIB nets second acquisition of the week
Consolidator PIB has bought broker Wheatley Wright, its second acquisition to be announced in three days.
Whiplash reforms encounter further delays
The second reading of the Civil Liability Bill may be pushed back to September, once parliament has held its summer recess.