News
RSA will pay Lee £824k through 2014
Former RSA chief executive Simon Lee will be paid £824 000 in monthly installments over the course of 2014 as part of the terms of his resignation.
Webinar: Hanks, Woolgrove, Moore and Jenkins discuss Aldermanbury Declaration progress
Three years on from the launch of the Aldermanbury Declaration, Post recently held a webinar to look at how the industry is going to move on and raise the professionalism bar within the UK insurance industry.
Lee speculation took its toll on staff, claims RSA UK boss Brown
RSA UK and Western Europe chief executive Adrian Brown has maintained that although speculation on the future of Simon Lee hit staff at the insurer, service levels remained unaffected.
Last chance to take advantage of early bird for the 2014 Motor Claims conference
Today is the last day to take advantage of the early bird offer for Post's hugely popular annual Motor Claims conference.
New laws have done little to curb whiplash culture, LV says
More than half of Britons have been contacted by a claims company and encouraged to make a compensation claim for injuries in the six months since the implementation of litigation reforms in April, research from LV has found.
Axa, Allianz and Zurich among 'corporate predators' circling RSA, claims analyst
Axa, Allianz and Zurich have been touted as likely bidders for RSA after the firm’s share price plummeted following news of chief executive Simon Lee’s “inevitable” resignation.
Post expands coverage to include international insurance news
Post is delighted to confirm Insurance Insight is now part of postonline.co.uk giving our subscribers a truly global insurance view on the industry.
FCA fines Porta Verde £25 000 for insurance mis-selling
The Financial Conduct Authority has fined Porta Verde Financial Services £25 000 after two of its appointed representatives mis-sold insurance, often to elderly and vulnerable customers.
Icat appoints new active underwriter
Icat has appointed Megan McConnell as active underwriter for Syndicate 4242 at Lloyd’s.
AGCS unveils country manager for Austria
Allianz Global Corporate & Specialty has appointed Ole Ohlmeyer as the new country manager for Austria.
RSA bids forecast as shares plummet 20%
RSA will face acquisition bids if its share price falls too far according to Shore Capital analyst Eamonn Flanagan.
DAS UK welcomes clarification on freedom of choice
Legal expenses insurer, DAS, has welcomed the ruling of the Court of Justice of the European Union clarifying freedom of choice, both regarding the appointment of solicitor and funding.
RSA chairman Scicluna to serve as interim CEO following Lee resignation
RSA chief executive Simon Lee has resigned as the insurer revealed it will pump £135m into its troubled Irish division.
Cooper Gay Swett & Crawford names North American subsidiary president
Phil Baker is to take the helm of Cooper Gay Sweet & Crawford’s North American subsidiary Creechurch International Underwriters in the new year.
Profit growth not BGL's main aim in 2013 as CEO eyes five-year plan
BGL chief executive Matthew Donaldson has defended his firm’s static profit growth in 2013 by claiming that the launch of a five year growth initiative had meant that building on last year’s profit margin was never expected.
BGL profits remain flat despite attracting two million more customers
The BGL Group has recorded pre-tax profits of £88m for the second consecutive year, despite increasing customer numbers by two million to 6.6 million during the same period.
Mixed outlook for Chinese general insurance market, says Fitch
Fitch Ratings believes China's continued urbanisation and rising household wealth will sustain the growth dynamics of its general insurers, but says intense rivalry will further weaken the sector's underwriting margin in 2014.
Three insurance industry reps nominated to PRA panel
Three insurance industry members have been have been nominated to the Prudential Regulation Authority’s practitioner panel established to represent the interests of the financial services industry.
Higos expands grad scheme
High street broker Higos is to grow its graduate training scheme after a successful first year.
Leeds-based fraud investigator AGS Risk Solutions bought by Insight
Claims investigation company Insight has acquired Leeds-based fraud and financial crime investigations provider AGS Risk Solutions.
Ace appoints Ian McFadyean to regional manager role
Ace Group has appointed Ian McFadyean as business development manager for the south west and Wales.
Kiln appoints Singapore based head of construction & engineering
Kiln has appointed Christian Kolmberger as head of construction and engineering.
Avanti unveils new MD
Avanti Insurance has appointed Elaine Cozens as its new managing director.
Ascent launches medical billings E&O cover for US
Ascent Underwriting has launched a medical billings errors and omissions insurance product specifically aimed at the US healthcare professionals.