News
Tax payer will not be insurer of last resort in Floor Re, says Benyon
The government will not be the insurer of last resort under the proposed Flood Re scheme, environment undersecretary Richard Benyon said yesterday.
Add-on investigation highlights data opportunity: Sas
The enquiry into the selling of add-on products should prompt insurers and brokers to better utilise data in offering products to consumers according to Sas head of insurance Martyn Kyle.
AIG said to be lead insurer for Asiana crash
AIG has been named as the lead insurer providing cover for the Asiana Airlines crash in San Francisco airport on 6 July, Bloomberg reported.
BNP Paribas Cardif enters joint venture with Bank of Beijing
BNP Paribas Cardif is expanding into the Chinese market with a joint venture with Bank of Beijing.
Asiana crash claim could amount to $2.3bn
The Asiana Airlines’ Boeing 777 that crashed in San Francisco on 6 July was insured for $2.3bn (£1.7bn).
Regulation still deemed greatest risk for industry
Regulation has been voted the greatest risk facing the insurance industry for the second year running in a survey conducted in partnership with PWC.
Bluefin makes branch hires in Bath and Northampton
Bluefin has appointed Ian Sandham as the branch director of its Bath office and hired Daniel Sweeting as a schemes account executive in Northampton.
Lancashire appoints new head of energy and marine
Lancashire Holdings has appointed James Flude as head of energy & marine for its UK operation.
Lloyd’s names high tax as top European business threat
European executives are risking short-termism according to Lloyd’s chief executive Richard Ward, with high taxation now seen as the number one threat to European business.
Regulator FCA faces call for "pay to play" to be investigated
Regulator faces calls for ‘pay to play’ to be investigated.
Airmic’s basis contract clause campaign bolstered by heavy hitters
Lloyd’s market remains reticent to address elimination of avoidance clauses.
United India cleared on market abuse claims
India’s competition commission has rejected claims of abuse of dominance against United India Insurance and its third party administrator E-Meditak in medical insurance market.
Haste tipped for the top at Lloyd’s as insiders claim job ‘is his for the taking’
Ward praised for maintaining strength of market during tenure.
Leaders eager to distance themselves from rogue investigator allegations
Calls to name firms from leaked Leveson report forces industry to soul search.
Indian regulator ramping up analytics focus
India’s Insurance Regulatory and Development Authority is to launch a new information office for the collection and analysis of data from insurers, according to reports.
Solicitors offered unrated insurer carriers despite solvency concerns
Déja vu as Balva-like unrated carriers on brink of taking market.
General Atlantic concludes purchase of Hyperion shares
Hyperion Insurance Group has completed a deal with General Atlantic in which the global growth equity firm acquired around 30% of the group's shares.
Swinton apologises over complicated add-ons
Swinton has apologised for selling add-on products that customers might have struggle to understand and is offering them a refund.
Bertagna leaves Lloyd’s for Allied World
Lloyd’s of London’s head of Southern, Eastern Europe & Africa as well as Italy country manager, Enrico Bertagna has resigned from his role effective from the end of August.
Biba bolstered by 2012 subs growth
The British Insurance Brokers Association has reported boosted turnover for the year ending 31 December 2012, with subscriptions climbing almost £200 000.
Cosmos Services acquires 15% stake in SART
Hong Kong-based broker Cosmos Services has acquired a 15% stake in SART Holdings, the Hong Kong based business of Aquila Underwriting.
Torus unveils new CEO as it is sold to Enstar for $692m
Global specialty insurer Torus has appointed Dermot O’Donohoe as group chief executive officer of Torus Group, in addition to his role as chief executive of Torus International, following the acquisition of the group by Enstar.
UK General Insurance launches lifestyle product with Gibraltar-based company
UK General Insurance has launched a lifestyle excess product in partnership with Gibraltar-based insurer Enterprise Insurance Company.
Wheatley to declare FCA will be “a very different animal”
Financial Conduct Authority chief executive Martin Wheatley will today pledge to the Association of British Insurers that the new regulator is “a very different animal to the Financial Services Authority.”