News
Co-op GI operations head Day to exit
Co-operative Insurance general insurance operations head Lynn Day is to leave the business after 33 years, Post can reveal.
QBE names Menear as director of underwriting operations
Insurer QBE has appointed Nick Menear to the newly created role of underwriting operations director.
Fitch assigns Ageas Insurance A+ 'strong' IFS rating
Ageas Insurance has been assigned the A+ ‘strong’ insurer financial strength rating by Fitch, with a ‘stable’ outlook.
Quindell directors to resign after sale of professional services arm
Quindell CEO Robert Fielding will move to Australian law firm Slater & Gordon following the sale of the claims outsourcer’s professional services arm.
CPIC admits 'grave' property and casualty underwriting issues
Shanghai-based giant China Pacific Insurance's profits climbed 19.3% last year to 11bn yuan (£1.19bn) despite "grave" problems in its property and casualty arm.
Demand for HNW skills in Asia-Pacific on the up, says Morgan McKinley
Professional services recruitment firm Morgan McKinley has said it is expecting a "conservative" hiring push in the Asia-Pacific region over the next two years.
Cyber veteran Milner joins Miller
Simon Milner has joined global broker Miller to help grow its cyber book.
Mutuals' Act gets Royal Assent
The Mutuals Deferred Shares Act received Royal Assent in the House of Lords yesterday (26 March).
PRA consults on ‘proportionate' regime for non-SII senior managers
The Prudential Regulation Authority has released its consultation paper into the senior insurance managers regime for insurance companies outside the scope of Solvency II.
Towergate receives court sanction for schemes of arrangement
Towergate Group's restructuring is one step closer to becoming effective with the schemes of arrangement being sanctioned by the High Court today.
UK General reports 10.4% premium growth
Insurer UK General has reported an improved business performance premium for the 2014/15 year to £436m from £395m the year prior.
Judge approves speedy July trial for Gallagher action
In a public hearing today at The Royal Courts of Justice Mr Justice Edis agreed to a speedy trial for the Gallagher action involving all three defendants in the window commencing 13 - 17 July.
Indemnity Guarantee Assurance enters administration
PWC has been appointed the administrator to Indemnity Guarantee Assurance which was placed into administration on 23 March after directors deemed it to be insolvent.
FCA urged to prove absence of ‘systemic weakness' in standards and culture
The Treasury Committee has demanded the Financial Conduct Authority do more to satisfy parliament and the public it is not suffering a "systemic weakness" in standards and culture following its press briefing blunder in March 2014.
RKH celebrates 15th consecutive year of profit rises
Broker RKH has posted increased revenue and underlying profits for 2014, the 15th year in a row that it has reported such increases.
BMAL chairman Soames steps down
Jeremy Soames has stepped down as chairman of Barbican Managing Agency after five years in the role.
Peak Re's premiums up 280% in 2014
Hong Kong-based reinsurer Peak Re saw its gross written premiums climb 280% last year from $103.1m (£69.4m) in 2013 to $288.1m.
Korean bank KB Financial buys GI insurer LIG
KB Financial, South Korea's second largest bank, is to buy general insurer LIG Insurance for 645bn won (£395m).
Gallagher pursues action against Ross, Mugge and Keey
Arthur J Gallagher is taking legal action against former Gallagher International CEO David Ross.
Telford succeeds Rocks in Liberty management reshuffle
Liberty Specialty Markets has announced Alan Telford will succeed Sean Rocks as chief underwriting officer of its commercial division.
Lloyd's supportive of syndicates that expect to turn motor profit
Lloyd’s motor book produced a calendar year combined ratio of 106.4% (2013: 108.6%) in a market described as competitive by Lloyd’s director of finance, John Parry.
Cathedral leads consortia for Germanwings A320 war policy
Lancashire-owned Cathedral is leading the consortia on the Lufthansa war policy for the Germanwings Airbus A320 plane that crashed in France on 24 March.
Roughead named Ellis Clowes CEO
Ellis Clowes, the specialist Lloyd's of London insurance broker, has appointed Ann Roughead to its board as CEO for the group.
Gumtree ghost broker jailed for two years
A car rental firm owner who made £65,000 selling invalid motor insurance was jailed today for two years at the Old Bailey (26 March).