UK
AIG appoints Julie Chalmers as GI head of UK and EMEA claims
AIG has swooped for Chubb’s claims director for Europe, Eurasia and Africa, Julie Chalmers as its head of UK and EMEA claims for general insurance.
Phillips named CEO at CDL and co-founder Tom Hogg steps down as chairman
CDL has promoted commercial director Nigel Phillips to the CEO role with Gary Johnson moving across to be chairman as co-founder Tom Hogg steps down.
Ardonagh strikes deal for Lloyd Latchford
Ardonagh is buying specialist retail broker Lloyd Latchford Group for £15.3m, Post can reveal.
HG to own 20% of Hyperion as investment boosts ‘war chest’ to $1.5bn
When the transaction for HG to invest in Hyperion closes the private equity firm will hold “just over 20%” of the business, CEO David Howden told Post.
Ex-Axa boss Paul Evans named Allianz Insurance and LV GI chairman
Paul Evans, former UK and group CEO at Axa, has been appointed as non-executive chairman of Allianz Holdings.
Hyperion valued at $5bn as former A-Plan owner HG invests days after sale
Private equity firm HG has invested in Howden-owner Hyperion in a deal that puts a $5bn (£3.9bn) enterprise value on the insurance group.
Ardonagh to sell Bennetts after CMA ruling
Ardonagh has offered to sell motorcycle specialist Bennetts to address the concerns of the Competition and Markets Authority and avoid a “long, burdensome and expensive phase two enquiry”.
Refinancing costs bite as Ardonagh losses more than double and income drops
Ardonagh has reported a post-tax loss of £94.1m for the first six months of 2020 more than double the £41.8m deficit in the same period of last year.
RSA’s Adele Sumner on the evolving challenge of fraud during the pandemic
Adele Sumner, head of counter fraud strategy and financial crime at RSA, details how fraudsters have been diversifying their techniques during the coronavirus pandemic and the steps insurers can take to fight the scams.
AIG’s Anthony Baldwin steps up as IIL president
Anthony Baldwin, CEO of AIG UK has been elected as president of the Insurance Institute of London for 2020 to 2021.
Government hits out at insurers over grant deductions from BI claims
John Glen MP, economic secretary to HM Treasury, has rebuked insurers deducting government grants from business interruption claims payments and warned of further action.
FCA defends predicted £1.06bn dual pricing compliance cost
The Financial Conduct Authority has estimated it will cost the insurance sector £1.06bn over 10 years to comply with its package of measures designed to tackle dual pricing in the general insurance market.
Clear buying Brokerbility a “huge step forward”, says CEO Lickens
Clear Group has bought Brokerbility Holdings including its broking, network and technology businesses for an undisclosed sum.
Bupa’s CS Healthcare takeover clears CMA hurdle
The Competition and Markets Authority has approved the proposed merger of Bupa Insurance and CS Healthcare with the pair hoping to complete the deal in January next year.
Analysis: Hastings sale - a welcome and a warning
The bid to take motor insurer Hastings back into private hands is a positive move for the company and a stamp of approval for the sector, say market specialists – but, after years of growth, challenges lie ahead
Whatever Google is doing on scams it is not working, says FCA chair
Charles Randell, chair of the Financial Conduct Authority has criticised Google and other social media and technology firms over the continuing proliferation of scams.
Black Lives Matter conversations have been 'raw' and 'revelatory': Dive In panel
The momentum behind diversity and inclusion programmes changing society and the industry for the better continues to build but there remains much more to be done, according to experts at the industry’s Dive In festival.
Gallagher’s Simon Matson on a balance of the old and the new
Brokers should see the hard market as an opportunity to prove their value as trusted advisors, says Gallagher’s UK broking and underwriting CEO Simon Matson, as he also looks at the changes to office life due to the coronavirus pandemic.
A-Plan buy cost 'approaching £700m', Howden confirms
Howden’s purchase of A-Plan for “approaching £700m” has created a business of scale that is a true “challenger broker”, according to David Howden, CEO of Hyperion Insurance Group.
Two potential bidders pull out of race for AA
Shares in the AA opened more than 17% down this morning as private equity firms Centrebridge Partners Europe and Platinum Equity both confirmed they would not be bidding for the business.
Howden buys A-Plan creating £4bn UK GWP business
Hyperion's Howden has agreed to buy UK broker A-Plan Group for an undisclosed sum.
Dual pricing ban 'probably most radical shake-up of GI industry in years': FCA's Woolard
The Financial Conduct Authority has proposed banning retail motor and home insurance dual pricing in a package of measures designed to enhance competition, give fair value to customers and increase trust.
Coverholders upbeat despite lawyer warnings after BI case
Managing general agents and coverholder brokers remain optimistic about the sector’s prospects despite warnings from lawyers on the implications of the recent business interruption court case.
Theo Butt replaces Paul Brand as Convex Insurance UK CEO
Convex Group has appointed Theo Butt as CEO of Convex Insurance UK and Matt Paskin as CEO of Bermuda-based Convex Re replacing co-founder Paul Brand who remains with the business as group deputy CEO.