News
Ex-Axa director Hector to lead Covéa's southern operation
Covéa Insurance has appointed Keith Hector to the newly created position of head of regions for the south.
FCA warns against policy from unlicensed New Zealand insurer
The Financial Conduct Authority has found a home insurance policy from an unlicensed New Zealand insurer has been sold to UK consumers through an authorised general insurance intermediary.
Absolute strengthens team with police hires
Absolute Partnership has hired a new external investigation team of former police detectives, following the recent budget costs to the police force.
Aon Benfield research finds 32 markets have COR below 100%
Aon Benfield research has found 32 of the top 50 markets have a five year combined ratio under 100% while the EMEA area leads the way regionally with a COR of 98% overall.
Capital influx could displace traditional equity capital - Willis Re
The influx of third-party capital into the reinsurance market may displace up to $40bn (£25.5bn) of traditional equity capital, which could either be returned to shareholders or redeployed elsewhere in the reinsurance market, according to Willis Re.
Xchanging looks to grow US presence
Technology business Xchanging is looking to grow its presence in the US, executive director Adrian Guttridge has revealed.
$100bn of reinsurance capital to enter market, says Aon Benfield
Aon Benfield has said insurers and reinsurers will benefit from $100bn of alternative capital that will enter the reinsurance market over the next five years.
Chen to chair Zurich's China business
Johnny Chen is to switch roles at Zurich from CEO of Asia-Pacific to chairman of Zurich's life and general insurance business in China.
AIG reviews legal panel
AIG is set to kick off a review of its external legal advisers across the Asia-Pacific region, as the insurance giant sizes up a potential merger of its corporate and claims panels.
Ping An increases stake in bank
Ping An has said it plans to raise its stake to almost 60% in Ping An Bank for a cost of 14.8bn yuan ($2.4bn).
Woods appointed co-chairman of GC's mutual company specialty practice
Guy Carpenter & Company has appointed that John “Jay” Woods as co-chairman of the recently formed mutual company specialty practice.
Soca refuses to publish list of firms who used rogue PIs
The Serious Organised Crime Agency has declined to comply with the Home Affairs Select Committee’s request to make public the list of 102 blue-chip firms that used rogue private investigators.
615 uninsured vehicles seized by police in clampdown
More than 600 uninsured vehicles were seized over two days in London this week as the Metropolitan Police targeted motorists.
Three GI players in the frame as FCA launches complaints handling review
Three general insurance firms are implicated in the Financial Conduct Authority's latest thematic review into complaints handling at major firms.
Kennedys strengthens Latin America presence with Colombian association
Kennedys has increased its reach into Latin America by joining forces with Bogota-based insurance law firm Botero Salazar Tobón & Abogados.
FCA reveals it has never used private investigators
The Financial Conduct Authority has revealed it has never used private investigators.
RSA launches broker trading site
RSA yesterday launched its first broker trading site in Redhill, designed to give its most valued brokers the flexibility of trading face-to-face for complex risks.
Gable boosts insurance profit by 5% as COR experiences minor slide
Gable Holdings chalked up a 5% increase in its insurance profit in the first half of the year, although the firm’s combined operating ratio deteriorated by an identical proportion to 56%.
Defra outlines draft flood insurance clauses
The Department for Environment, Food and Rural Affairs has opened a consultation into the draft flood insurance clauses of the Water Bill.
Garry Fearn to step down from Covéa
Garry Fearn is to step down as Covéa Insurance executive deputy chairman from 15 September.
Insurers warned to take strategic approach to modernisation
Replacing legacy software systems is vital to better serve clients and can provide a competitive advantages but it is vital firms take a strategic approach, Michael Graham, sales and marketing director at Sequel, has warned.
Belmont Regency MD pays tribute to founder killed in plane crash
One of the founding directors of Derby-based financial advisor and broking business Belmont Regency was killed alongside his wife in a plane crash off the coast of Jersey this week.
Charles Taylor snaps up business solutions provider Knowledge Center
Charles Taylor is seeking a competitive advantage on technology products and processes after acquiring insurance industry business solutions provider Knowledge Center.
Brit expands global distribution network with Bermuda office opening
Brit is targeting an expansion of its distribution network with the opening of a Bermuda office.