United Kingdom (UK)
AIG appoints global head of strategy and ESG
AIG has appointed Constance Hunter as executive vice president and head of strategy and ESG.
Ardonagh valued at $7.5bn as Abu Dhabi Investment Authority joins investor roster
The Ardonagh Group has secured investment from the Abu Dhabi Investment Authority and “several other large global institutions”, giving the group a multi-billion dollar valuation.
Interview: Andrew Wallin, Ardonagh Specialty
Ardonagh buying the insurance operations of BGC Partners was a “rocket fuel moment” for both organisations with opportunities abounding after the deal which doubled the size of the specialty business, according to Ardonagh Specialty CEO Andrew Wallin.
GRP holdco sets baseline for Searchlight era with inaugural £42m operating profit
Global Risk Partners’ holding company GRP (Jersey) Holdco has posted turnover of £128.8m in its first set of annual results.
Former and current Fresh owners settle legal case
Kingfisher UK Holdings, NSM Insurance and the sellers of Fresh Insurance have settled the legal dispute over the sale of the business.
Podcast: Reflections on the initial OIC portal data
In the first of a two-part podcast series Insurance Post reflects on the initial Official Injury Claim data covering the first three-month period.
Aviva's Nick Major on why brokers are key to helping SMEs avoid unseen risks
Some firms believe horizon scanning for bigger issues is a luxury reserved only for the largest and best-resourced companies but as Nick Major, managing director of commercial lines at Aviva, explains it should be the cornerstone for all businesses.
Catherine Read appointed COO for UK and Ireland at Marsh
Marsh has named Catherine Read as chief operating officer for UK and Ireland taking up the post on 4 January.
Marsh McLennan appoints Francis Bouchard as managing director of climate
Francis Bouchard has joined the Marsh McLennan Advantage team as managing director of climate.
Bought By Many doubles GWP and reveals now live in 28 US states
Bought By Many owner Many Group wrote £146m of gross written premium in 2020/21 with turnover up 113% at £37.13m, the business has revealed.
Incoming Norgrove praised amid market surprise at Egan's RSA departure
Market specialists were surprised by RSA UK & International CEO Scott Egan’s departure but welcomed Ken Norgrove as the new RSA leader and urged him to push on with making the provider more outward looking.
Ardonagh Advisory adds COO and CTO
Ardonagh Advisory has appointed Marcus Golby as chief operating officer and Tom Clark as chief technology officer.
Sampo buys out RMI to take over Hastings in full
Finnish insurer Sampo has paid Rand Merchant Investment Holdings £685m for its 30% stake in Hastings and now owns the whole business.
'Challenging' changes ahead under consumer duty
The Financial Conduct Authority’s consumer duty proposals are set to 'change the face' of the consumer financial services market, experts have said.
Interview: Johnny Timpson
Post meets Johnny Timpson, the driving force behind the Access to Insurance Working Group, which led to the creation of the British Insurance Brokers’ Association’s Access to Insurance Committee launched last summer.
FCA's consumer duty to cost firms up to £2.4bn
The Financial Conduct Authority has estimated that businesses will face a one-off bill of up to £2.4bn to comply with its proposed consumer duty rules, with ongoing annual direct costs of up to £176m.
FCA unveils consumer duty 'to drive a fundamental shift in industry mindset'
The Financial Conduct Authority has opened a consultation on the introduction of a consumer duty highlighting its concerns that financial services do not currently always work well for consumers.
ABI adds Colm Holmes and Clare Bousfield to board
The Association of British Insurers has added Allianz UK CEO Colm Holmes and Clare Bousfield, managing director for retail and savings at M&G, to its board.
Aston Lark’s Peter Blanc on why tough conversations are the most important ones with clients
Peter Blanc, group CEO of Aston Lark, warns against taking the “easy road” in client conversations urging the industry to focus on the right claims outcomes with risks and risk mitigation instead of premiums at the top of the renewal agenda.
Intelligence: The supply chain crisis – why the insurance lifeboat can’t take all
Supply chain issues have made headlines recently as backlogs at ports build up and in some cases large ships are turned away. These are unprecedented times but as Rachel Gordon finds out insurance is only part of the solution
FCA launches consultation on improving AR regime
The Financial Conduct Authority has launched a consultation on improving the appointed representatives regime and tackling harm from this model.
Marsh appoints head of climate and sustainability insurance innovation
Marsh has appointed Ryan Bond as head of climate and sustainability insurance innovation effective 1 January 2022.
Ex-Morrisons and Poundland chairman Andy Higginson to chair Ardonagh Retail
Ardonagh Group has appointed the former chair of Morrisons and Poundland Andy Higginson as chairman of Ardonagh Retail.
Penny Black's Social World: December 2021
From COP26 and climate commitments to charity donations.