News
Biba restructure reflects greater focus on engagement with membership
Regional membership divisions replaced by segment-based approach.
Gable to raise up to £10.7m through share placing
Non-life European insurer Gable Holdings intends to raise up to £10.7m through a placing of up to 17 690 001 new ordinary shares and a subscription of 1 764 544 new ordinary shares both at 0.25p a piece.
Hiscox culls 32 firms from legal panel
Hiscox’s UK retail business has reduced the number of firms it works with for claims legal advice from 45 to 13 firms.
Giles acquisition to be completed in November
Arthur J Gallagher will complete the Giles acquisition in early November, after originally anticipating the £233m deal could be completed this month.
GI sector fears ABI restructure will push its issues down the pecking order
General Insurance will merge with life and pensions and be led by Huw Evans.
RSA performs offshoring U-turn as customers demand UK call centres
Closure of insurer’s customer-centric Indian call centres to create 350 UK jobs.
Insurers frustrated as MoJ defers increase in small claims track threshold
Justice Secretary confirms medical expert panels will be introduced for whiplash.
Insurers set to pay the price after St Jude storm wreaks havoc in the South
Property damage from fallen trees expected to be among major costs.
Willis reports $27m net loss
Willis Group has posted a total net loss of $27m (£16.83m) for the third quarter of 2013, cutting the broker's profit by 17% for the first nine month of the year.
Asians have huge savings gap, says Manulife
A savings gap between the expected savings and actual retirement needs of Asia investors points to financial hardship in retirement for many, according to the latest Manulife Investor Sentiment Index.
Chaucer promotes Blight to lead treaty practice
Lloyd’s insurer Chaucer has named Paul Blight to lead its recently launched treaty practice at Syndicate 1084.
Sullivan takes non exec role at CGSC
Cooper Gay Swett & Crawford has appointed Martin Sullivan as non-executive chairman of CGSC Delaware, the main board for the Group’s North American operations.
Market Moves: Busy insurers make a raft of hires along with a number of key departures
Insurers led the way in a recruitment frenzy this week. AIG swooped for a head of commercial property, while Hardy acquired a property treaty business unit manager. There were departures too, with QBE’s Steven Burns announcing retirement from full time…
McLarens partners with environmental adjuster
Global loss adjuster McLarens has partnered with US-based Global Risk Solutions, which specialises in environmental claims.
Ace adds crime insurance to online trading platform
Ace Group has added crime cover to Ace Online, a web-based trading tool that allows brokers to quote and bind specialist insurance business.
CDL unveils new director of service
Insurance software house CDL has appointed Stuart Bishop to the newly created post of director of service.
Willis Re forecasts at least £300m loss from St Jude storm
UK losses from storm St Jude are likely to be in the region of £300-£500m, according to Willis Re.
Winter storm Christian is worst in a decade
Winter storm “Christian” (known as “St. Jude” in the United Kingdom) battered the western shores of southern Britain early on Monday, October 28, 2013, as one of the strongest extratropical cyclones to affect the region in perhaps a decade.
Highlights from The Claims Event 2013
With the birth of the new regulator and major regulatory changes, The Claims Event 2013 was a key conference for claims professionals to attend this year to learn about the latest industry developments.
Reader appointed global head of insurance at KPMG
KPMG has promoted head of insurance advisory in the UK Gary Reader to the role of global head of insurance.
Business growth sees Enterprise appoint SSP to replace legacy systems
Gibraltar-based Enterprise Insurance has selected technology solutions provider SSP to replace its existing legacy administration systems.
Saga appoints IPO advisor
Acromas-owned insurer Saga has appointed STJ Advisors ahead of a 2014 float.
Hyperion acquires US underwriting agency
Hyperion Insurance Group has acquired PGI Commercial through its subsidiary Dual.
13 die in European storm
A powerful storm swept across North Europe yesterday with some devastating consequences.