Company news
Culmer appointed Aviva senior independent director
George Culmer is set to become senior independent non-executive director at Aviva when incumbent Glyn Barker retires from the insurer’s board at the end of the year.
FCA CEO Andrew Bailey named next Bank of England governor
Andrew Bailey, CEO of the Financial Conduct Authority, will take over from Mark Carney as governor of the Bank of England in March.
Peter Zaffino named AIG president
Peter Zaffino will become president of insurer AIG in the New Year.
Macquarie invests in Watchstone
Macquarie Group now holds 5.32% of Watchstone Group, according to a stock exchange filing.
Former Hastings group CFO Hoskins takes on BGL NED role
Hastings’ former group chief financial officer, Richard Hoskins, will join BGL as an independent non-executive director in January.
Willis IRM buys Hale Kavanagh in Leeds
Belfast-based Willis Insurance and Risk Management has bought Leeds firm Hale Kavanagh Insurance Brokers for an undisclosed sum.
Eldon rebrands as Somerset Bridge
Arron Banks’ Eldon Insurance Services has rebranded as Somerset Bridge Insurance Services after receiving approval from members and the Financial Conduct Authority.
Amanda Blanc joins insurtech Trov as senior adviser
Former Zurich CEO for EMEA and global banking partnerships and Axa UK and Ireland CEO, Amanda Blanc is joining insurtech Trov as a senior adviser.
Pukka no longer writing new business with Gefion
Pukka Insure stopped writing new business with Gefion in July, replacing it with two A-rated carriers.
Danish regulator demands action as it identifies ‘serious liquidity problems’ at Gefion
Unrated Danish insurer Gefion Insurance must have liquid assets of at least €5m by the end of the year amid fears by the regulator that the company has “serious liquidity problems.”
Allianz appoints UK IT director
David Richards has been named as Allianz’s UK IT director.
German insurtech Wefox targets UK launch in 2020 after $110m fundraise
Berlin-based insurtech Wefox will be opening an innovation hub in London before the end of the second quarter next year, a spokesperson confirmed to Post after the business raised a further $110m (£83.7m) in its latest funding round.
Richard Rowney steps down as LV CEO
Richard Rowney has stepped down as CEO of LV and will leave the insurer at the end of the year after 13 years at the company.
PIB buys credit insurance specialist CMR Insurance Services
PIB has bought credit insurance specialist CMR Insurance Services and health and safety consultancy firm Sue Smith.
Aston Lark buys again in Ireland
Aston Lark has bought Wright Insurance Brokers in Ireland, its second deal in the country having snapped up Dublin-based Robertson Low this January.
Arch appoints Stuart Danskin as UK regional underwriting director
Arch Insurance has made Stuart Danskin director of underwriting for its UK regional division, which was formed at the start of this year.
Chubb promotes Louise Joyce to head of industry practices
Chubb has promoted Louise Joyce to head of industry practices for the UK & Ireland, succeeding Karen Strong who has left the business.
BBC NED Shirley Garrood no longer a director at Esure
Former Esure deputy chair Shirley Garrood is no longer a director at the insurer, Post can reveal.
Scor launches €300m contingent capital facility
Scor launched a three year contingent capital facility in form of a contingent equity line, providing the group with €300m (£254.6m) coverage in case of extreme natural catastrophe or life events impacting mortality.
Cuvva aims to bypass PCWs and brokers as it raises £15m
UK-based insurtech startup Cuvva has raised £15m in series A funding round as it prepares to launch a pay-monthly product at the beginning of next year and disrupt the existing insurance status quo
Finch and ICB set to merge under Verlingue brand
Finch and ICB Group will merge and rebrand under the name of their French parent company, Verlingue.
A-Plan paid £16.5m for Endsleigh
Broker A-Plan paid Zurich £16.48m for Endsleigh when it completed the deal to buy the specialist broker in March last year.
A-Plan breaks £100m revenue barrier and set to open 100th office
A-Plan will be opening its 100th office within the next two months, CEO Carl Shuker told Post.
This week in Post: hanging by a thread
This week, Transport for London has revoked Uber’s licence to operate in London, causing fear among the capital residents who often rely on the app-based service to get them home safely after a night on the town.