News
SII insurer NEDs to face same regulation as banks
Changes to the banking industry's senior managers regime that affect non-executive directors are to be implemented for Solvency II insurers, the Financial Conduct Authority says.
Brown and Deakin to join Towergate
Arthur J Gallagher’s commercial director Janice Deakin and executive chairman of underwriting and distribution Adrian Brown have both agreed to follow former boss David Ross to Towergate.
Company policies failing to protect vulnerable consumers finds FCA
The Financial Conduct Authority has challenged financial services firms to develop new approaches to support vulnerable consumers.
Defendant ordered to pay costs in fraudulent whiplash case
A judge in Portsmouth has thrown out a case that involved a motorist trying to claim fraudulent damages for whiplash.
Charlin moves to Axa UK investment officer role
Bruno Charlin has been appointed Axa UK chief investment officer; having moved over from his role at Axa Group.
Lloyd's appoints first representative in South Korea
Lloyd's has appointed Jin-Yung Sun as its first representative in South Korea.
Quindell still in talks to sell division
Insurance outsourcer Quindell has extended Slater & Gordon's exclusivity period relating to the possible purchase of its professional services arm.
Insurers warned of 'profound effects' of Ecall on claims costs
Insurers have been warned of the hidden costs that may entail from its introduction of the Ecall communication system.
Gallagher boss Chilton 'a mentor' for ex-CEO Ross
The appointment of Grahame Chilton as CEO of Arthur J Gallagher International comes just weeks after his predecessor David Ross described Chilton as a “mentor” and praised his ingenuity during his time at reinsurance broker Benfield.
Chilton named as Ross' successor as Gallagher international CEO
Arthur J Gallagher has appointed Grahame Chilton as CEO of the company’s UK-based international brokerage division.
Ascot sees 2014 profits slide as CEO predicts 'challenging' year of trading
Ascot Underwriting CEO Andrew Brooks has vowed to maintain underwriting discipline amid a “challenging trading environment” in 2015, after the firm reported a dip in pre-tax profits last year.
ERS reports first full-year profit in five years
ERS has reported a full calendar year profit for the first time in five years, a £28m improvement year-on-year.
Charles Taylor announces double acquisition
Charles Taylor has announced two acquisitions from the Standard Club; a 50.1% stake of Almond One and a 100% stake of Almond Two.
Fairfax launches equity financing after Brit offer
Fairfax Financial Holdings has launched a C$650m (£337m) equity financing in light of the positive impact of its recommended cash offer for specialist insurer Brit on 17 February.
Axa tipped to make £300m bid for Pinnacle plot
Axa is poised to buy the site for what was intended to be London’s tallest skyscraper, according to reports.
Brokers think home insurance sector will be more competitive in 2015
In a survey of brokers working in personal lines, more than half said the biggest threat to growth will be growing competition from other brokers and direct insurers in 2015, according to research by LV Broker.
Online dispute system to present industry with 'disruptive technology' challenge
The insurance industry should embrace the challenge of harnessing a new form of disruptive technology if an online dispute resolution system is rolled out to deal with low-value civil court cases in England and Wales.
EBA and Partner Re Wholsale partner for Italian market
Underwriting agency EBA Insurance Services has announced a strategic partnership with Partner Re Wholesale, a new specialist insurance division of Partner Re.
Drivers who text at the wheel could face higher premiums, warns AA
The AA has welcomed the launch of new technology that is being trialled by police that will catch drivers using mobile phones at the wheel.
Innovation report predicts shake up of property market by digital 'revolution'
Property claims handling and risk management in the UK is on the threshold of a technological revolution similar to that being experienced in the motor market, according to a report published today (19 February) by the Innovation Group.
IFB announces appointments to supervisory board
Zurich's UK chief underwriting officer Cecile Fresneau and RSA's head of claims control Mike Curley have been appointed to the Insurance Fraud Bureau supervisory board.
Tokio Marine Kiln syndicates deliver profit for 2012
Tokio Marine Kiln’s three non-aligned syndicates all delivered profit for the 2012 year of account, figures published today showed.
Perils estimates January windstorm damage
Catastrophe insurance data provider Perils has estimated the insured property market loss for damaged caused by the Elon-Felix windstorm to stand at €328m (£242m).
Euler Hermes chair bemoans 'disappointing' economy as income dips
Trade credit insurer Euler Hermes saw its net income slump by 3.7% year-on-year to €302.1m (£223.2m) for the 12 months ending 31 December 2014 from €313.7m at the end of 2013.