News
M&A more attractive than start-ups in Asia, says Towers Watson
According to consultancy Towers Watson regulatory restrictions make insurer acquisitions more attractive than start-ups in Asia.
Lack of flight data from MH370 could impact claims payouts
The disappearance of Malaysia Airlines flight MH370 should deliver a wake up call to insurers on the importance of external data collection, a specialist aviation barrister has said.
Lloyd’s forecasting tough 2014
A combination of high catastrophe claims and weak investment income has led Lloyd’s to forecast a challenging 2014 for the market in spite of today announcing a £3.2bn profit.
Calls for debate on scrapping of low value PI payouts branded 'cynical'
Law firm Simpson Millar has described suggestions emanating from the Association of British Insurers that cash payouts for low value personal injury claims should be scrapped as “very worrying”.
Swinton restructures regional network
Swinton Commercial has restructured its regional network splitting it into three new geographical areas and appointing three regional managers.
Seventeen arrested in credit hire crackdown
Seventeen people suspected of credit hire fraud were arrested in raids across England on Wednesday morning.
CII launches introductory broker exam
The Chartered Insurance Institute has unveiled a new certificate level exam as an introductory qualification.
Specialist MGA appoints Charles Taylor as service provider
Charles Taylor Insurance Services has been appointed to provide services to managing general agency Hunter George & Partners.
Lee and Brown took 2013 pay-cut with no bonus awards
RSA UK and Western Europe chief executive Adrian Brown and former group CEO Simon Lee saw their pay packets take a dive in 2013 after not receiving bonuses.
Towergate's Harris joins Tempcover as underwriting director
Short term motor insurance provider Tempcover has hired Towergate’s Neil Harris as underwriting director.
McManus prioritising 'personal ambitions' with AJG departure
Arthur J Gallagher UK retail chief executive Brendan McManus is leaving the organisation to “tackle unfulfilled aspirations elsewhere”.
McManus to leave AJG
Arthur J Gallagher UK chief executive Brendan McManus is to leave the company in January 2015.
Cunningham Lindsey hires Jobling for Newcastle-based role
Cunningham Lindsey has appointed Ken Jobling as a specialist liability adjuster in its major and complex loss team.
McLarens re-enters Australian market
McLarens has re-entered the Australian market and appointed Martyn Wicht as general manager of the business.
Ecclesiastical swings to UK underwriting profit as group losses shrink
Specialist insurer Ecclesiastical has seen its UK insurance business return to profit in 2013, moving from a loss of £12.3m to £9.8m profit, while group underwriting losses have also narrowed.
Brokers risking regulatory fines due to ‘misunderstanding’ of Bribery Act
Compliance experts issue warning following penalties for Besso, JLT and Aon.
Global cat losses down 44% for 2013
Global insured losses from catastrophes have almost halved in 2013, dropping to £27bn according to a new study from Swiss Re.
Regulators urged to provide value for 24% increase in costs
Commentators suggest FCA should move outside capital.
Perils hikes Windstorm Dirk loss estimate to £294m
Zurich-based catastrophe data firm Perils has increased its property insurance market loss for the windstorm which wracked the UK and France from December 23 to December 25.
Barbican to boost UK capacity with Inter Hannover deal
Barbican is to grow its UK P&C division through a capacity deal with Inter Hannover.
Lloyd’s profits up 14% following record GWP
Lloyd’s has recorded profits of £3.2bn for 2013, up 14% on a previous year equivalent of £2.8bn in 2012, after reaching a new record high of gross written premiums.
Budget 2014: pension shakeup to open the door for general insurance players
Insurers’ share prices plummet following Chancellor’s annuity vow.
Industry doubtful SRA minimum rating plan can boost solicitors’ PI market
Regulator finishes eight-week consultation on possible ‘B’ minimum.
FWD appoints industry veteran as CEO
New insurer FWD has appointed industry veteran Huynh Thanh Phong as CEO.