News
Ace acquires Brazilian P&C insurer
Global insurer Ace has agreed to acquire the large corporate property and casualty business of Brazil-based Itaú Seguros from Itaú Unibanco for approximately $685m. Upon completion of the transaction, Ace will be the largest commercial P&C insurer in…
Amlin increases stake in Leadenhall Capital Partners
Amlin has reached a non-binding agreement to increase its stake in investment manager Leadenhall Capital Partners.
Biba welcomes TSC's 'positive' whiplash proposals
The British Insurance Brokers’ Association has welcomed the Transport Select Committee’s latest whiplash report saying it supports “changes to protect innocent customers from the added cost of fraudulent insurance claims”.
ABI slams 'misguided' SRA decision on mandatory PI limit
The ABI has criticised the Solicitors Regulation Authority’s decision to reduce the level of mandatory professional indemnity cover for solicitors to £500 000, calling it “misguided”.
Fundamental dishonesty change will have 'unintended consequences' warns MASS
Lawyers from the claimant fraternity have raised concerns over the Transport Select Committee’s latest motor report, with the proposal to strike out claims for fundamental dishonesty and changes in the small claims track singled out for criticism.
Reich teams with former Bridge brokers for Vista venture
The leadership of Manchester-based broker Reich have teamed up with three former Bridge brokers to unveil a new venture in the form of specialist corporate broker Vista Insurance.
RFIB appoints MacFarlane as MD for international non-marine
RFIB Group has appointed Richard Macfarlane as managing director of its international non-marine business.
Dual tasks Hellman with setting up marine practice
Dual Group has appointed Bernt Hellman to form its new marine and energy practice.
Ten moves to employee ownership model
Ten Insurance has converted to employee ownership safeguarding it against a buy-out from another network.
CII promotes 'speaking up' with new whisteblowing guide
The Chartered Insurance Institute has launched a 'Speaking Up' guide on whistleblowing as part of its ongoing ethical guidance series.
UK broker market sees rapid consolidation after AJG buying spree
The UK commercial non-life broker market is consolidating faster than its main European counterparts due to the recent acquisitions made by Arthur J. Gallagher, new research from Finaccord has shown.
Compass recruits from Cobra for London broking director
Gallagher-owned network Compass Broker Services swooped for a new broking director, recruiting from Cobra London Markets.
Xchanging hires Oracle's Baker as MD for Xuber
Xuber, Xchanging’s insurance software business, has appointed Chris Baker, formerly a senior vice president of Oracle, as managing director of Xuber within Xchanging Technology Services.
Xchanging acquires Agencyport's European arm
Business outsourcing provider Xchanging has acquired the European operations of US-based Agencyport Software, for a cash consideration of £64.1m.
Europe faces more than €2bn losses from June thunderstorms
An outbreak of severe thunderstorms in June caused over €2bn economic losses across Europe, according to Impact Forecasting, the catastrophe model development centre at Aon Benfield.
Insurers critical of TSC medical report proposal
The industry has slammed a Transport Select Committee proposal to prohibit personal injury claims being settled without a medical report with one insurer calling the suggestion “out of touch”.
TSC endorses proposed pre-med whiplash offer ban
The Transport Select Committee has thrown its support behind government moves to prohibit insurers from settling whiplash claims without a medical, as part of a report on fraudulent and exaggerated motor claims.
Axa Art UK CEO steps down
Annabel Fell-Clark has stepped down as Axa Art Insurance chief executive to pursue personal interests.
Xchanging acquires insurance software business Total Objects
Business process and technology services provider Xchanging has agreed to acquire 100% of insurance software business, Total Objects, for a potential total cash consideration of up to £21m.
Davies’ Coombes takes on Garwyn growth remit
Davies Group chief commercial officer Darren Coombes has been handed an expanded role that will see him take on responsibility for growth and development at Garwyn.
LV Broker looks to Markel for product delivery role
LV Broker has appointed Carl Berriman as product delivery head.
ING raises £1.1bn in NN Group float
ING Group has made £1.1bn from the flotation of NN Group, its European and Japanese insurance and investment management business.
Russian risk manager joins Ferma board
Four directors and one substitute are joining the board of the Federation of European Risk Management Associations.
Cunningham Lindsey recruits major loss duo
Cunningham Lindsey has added two to its major loss teams in Scotland and Northern Ireland, recruiting from BDO and Crawford.