News
Ageas’ Watson becomes chairman of ABI motor committee
Ageas UK chief executive Andy Watson has been appointed chairman of the Association of British Insurers’ motor technical committee.
Bluefin acquires Scottish PI broker
Bluefin has acquired independent Edinburgh-based broker P I Brokers for an undisclosed sum.
Willis names Owens as CEO of amalgamated captive business
Willis Group has appointed Paul Owens as chief executive of the newly formed Willis Global Captive Management business.
Four groups granted super-complainant status to FCA
Four consumer representative bodies have been granted “super-complainant” status by the government for the financial services sector.
FCA fines JLT Specialty £1.8m
JLT Specialty has been fined £1.8m by the Financial Conduct Authority for failing to have appropriate systems in place to guard against the risk of bribery or corruption when making payments to overseas third parties.
AIG appoints Bond Dickinson for contract work
AIG has appointed law firm Bond Dickinson to handle its high-volume contract work.
S&P affirms AA- rating for Swiss Re
Ratings agency Standard and Poors has affirmed its AA- rating of Swiss Re and predicts the rating will remain stable in the long-term.
Australian travel insurer makes weak IPO debut
Shares in Cover-More Group opened down 12.5% today following the Sydney-based travel insurer’s A$521m ($460m) IPO on the Australian Securities Exchange.
AIA pens 15 year 11 country deal in Asia-Pacific with Citibank
AIA and Citibank have reached a huge 11 country 15 year bancassurance distribution agreement for life and health insurance products at Citibank's 600 strong Asia-Pacific branch network.
MetLife sponsors badminton World Superseries
US health and life insurer MetLife has signed a four year deal to sponsor the Badminton World Federation World Superseries from 2014 to 2017.
Indian GI market to grow strongly over next four years
Underinsurance in India is expected to spur growth over the next four years according to ratings agency Care Ratings.
Torus strengthens accident and health team
Specialist insurer Torus has appointed John Milne as accident and health underwriter.
Ageas extends partnership with Hampshire Cricket
Ageas has extended its ground-naming partnership deal with Hampshire Cricket to 2022.
Ageas reinsurance claims boss Gunter to retire next year
Ageas’ head of reinsurance claims Nick Gunter will retire at the end of March 2014 following 35 years at the insurer, Post can reveal.
SRA threatens disciplinary against firms without PI cover
The SRA has warned that it may take disciplinary action against solicitors continuing to operate despite having failed to renew their professional indemnity cover.
Watson to remain as Canopius CEO ahead of Sompo-backed M&A activity
Canopius chairman Michael Watson will not look to replace outgoing chief executive Inga Beale and will instead occupy the role himself on a permanent basis as he eyes acquisition opportunities under the ownership of NKSJ Holdings’ Sompo Japan.
Women not shopping around despite premium rises, claims survey
Women have reported a 12% price increase on their motor insurance following the introduction of the Gender Directive 12 months ago, Consumer Intelligence has found.
Flood victims face health risks due to drying delays
Hundreds of flood victims are waiting over a week for contractors to begin drying work on flooded properties, one of the technical committee of the new PAS 64 standard on flood damage restoration has claimed.
Turvill to continue as NED after retiring as Willis International chair
Willis International chairman Sarah Turvill will step down from her role at the end of the year before taking on a non-executive director position on the board.
ABC Home product launches on Berkley Alexander panel
LV Broker’s ABC home insurance product has been launched on the Berkley Alexander Quote & Buy panel.
Hiscox merges UK & Ireland and Europe businesses
Hiscox is to merge its UK and Ireland business and its European operation into one unit entitled Hiscox UK and Europe.
External candidate expected to replace Lee at RSA as sale speculation mounts
Analysts say firm could seek to raise capital by selling international operations
London market set for further broker M&A
Mergers and acquisitions among London market insurance brokers are likely to increase in 2014 according to Deloitte.
Industry divided over Competition Commission’s motor recommendations
CC cost-cutting suggestions include banning credit hire referral fees