News
Gallagher integration costs climb £3m in 2013
The total cost Gallagher of integrating 30 acquisitions including Giles and Bollinger rose by almost 25% over the course of 2013, costing the broking giant $24.1m (£14.5m)
SRA kicks off unrated insurer consultation
The Solicitors Regulation Authority has formally opened an eight week consultation on barring unrated insurers from providing professional indemnity cover to regulated firms.
R&Q names King as Triton COO
Randall and Quilter has appointed Bradley King as chief operating officer of captive management subsidiary Triton.
Oasis project director says framework will cut costs and increase transparency
Loss-modelling platform includes models for flood, earthquake and tsunami.
Laurent Matras return expected to result in Axa personal lines overhaul
The return of former Groupama boss Laurent Matras to Axa may herald a shake-up of the insurer’s personal lines business, according to market observers.
Minister defends Gibraltar against ‘unfair advantage’ perceptions
Gibraltarian minister talks up non-motor insurance expansion.
DfT demands more telematics research before young driver safety green paper
Insurers warn telematics is not a ‘silver bullet’ as long wait for paper continues.
Aon Benfield or Guy Carpenter tipped to take on Flood Re reinsurance role
Scheme’s organisers say summer 2015 implementation target will be met.
XL recruits from Aon in Sydney for product recall push
XL has appointed Ian Davidson as crisis management underwriter to boost its product recall arm.
Umunna makes formal apology to Gee 7 Group over mis-selling claims
Shadow business secretary Chuka Umunna has formally apologised to Gee 7 Group after accusing it of arranging personal accident insurance packages that were then allegedly mis-sold by employment agencies.
Titlesolv expands planning team with underwriting hire
Titlesolv has appointed Paul Denholm as its specialist underwriter for planning and judicial review.
Industry-owned cat modelling framework launches
An industry-owned catastrophe modelling framework has launched today aiming to reduce costs and increase flexibility for its users.
FCA issues warning on clone firm LGS Commerce Insurance
The Financial Conduct Authority has issued a warning on a clone insurer using the details of marine underwriter Sunderland Marine Mutual Insurance Company.
North of the border: Taking steps on civil claims
The Scottish government plans to increase the limitation period from three years to five years.
AA Insurance becomes Biba member
AA Insurance has become a member of the British Insurance Brokers’ Association with several of its staff set to join the trade body’s committees.
Markel welcomes Lloyd's Dubai plans
Markel has welcomed the proposed Dubai branch of Lloyd’s acknowledging the market cannot wait for business to come to London.
Ace hires Willis’ Stuart Elliot to grow terrorism book
Ace Group has appointed Stuart Elliot as terrorism and political violence underwriter responsible for growing the its terrorism book.
Industry facing £426m bill for Christmas floods
The insurance bill for storm and flood damage over the 2013 Christmas and New Year period will cost the industry around £426m, according to the Association of British Insurers.
Xchanging opens second Singapore office
Insurance technology provider Xchanging has opened a second office in the heart of Singapore's insurance district at Tower 2, Asia Square.
Brazil and Russia face increasing terrorism risk
Aon’s 2014 Terrorism and Political Violence Map has highlighted increasing risk in Brazil and Russia as the countries prepare to stage major sporting events in the form of the FIFA World Cup and the Winter Olympics.
RBS reserves additional £465m for PPI claims
Royal Bank of Scotland has reserved £465m for further claims of mis-sold payment protection insurance after instances failed to decline as expected.
Marketform recruits Franks to boost cargo business
Lloyd’s specialist underwriter Marketform has recruited Howard Franks as a consultant to work with cargo underwriter Nicholas Edwards.
Prosight appoints Mageean to syndicate MD role
Prosight Specialty Underwriters has handed Syndicate 1110 chief operating officer Bernard Mageean a new role as managing director of the syndicate.
Chinese insurers investing heavily in Australian property
Chinese insurers are set to ramp up investment in Australian commercial property by 30% this year.