The H. W. Kaufman Financial Group has announced its purchase of London-based broker and underwriter Chesterfield Group, Ltd. The acquisition expands Kaufman’s international insurance presence, as Chesterfield has companies in the UK, USA and Canada. President, Chairman and Chief Executive Officer Alan Jay Kaufman described the acquisition as an important addition to Kaufman Financial Group, [...]
MetLife has promoted Mike Hocking to the post of regional sales director for the Midlands. Mr Hocking joined the life and pensions provider in 2010 as senior sales development manager in the South West and will now run the team covering the central region. Previously, he held the post of managing director and group sales [...]
AmWINS Group, Inc. has announced that its acquisition of THB Group plc has been completed. Independent insurance and reinsurance broker and risk management business THB is principally based in the London insurance and reinsurance market, and its global network of offices enables it to serve clients and markets in the UK and internationally. Following the [...]
AXA Commercial Lines has announced the appointment of Ryan Birbeck as the firm’s new London sales manager. Birbeck has been with the firm since 2005, and will report directly to London Branch Manager Linda Courtney. During his time with the firm he has occupied a range of roles, including in underwriting and sales. AXA Commercial [...]
MetLife has promoted Mike Hocking to the post of regional sales director for the Midlands. Mr Hocking joined the life and pensions provider in 2010 as senior sales development manager in the South West and will now run the team covering the central region. Previously, he held the post of managing director and group sales [...]
Ageas Protect has announced two key appointments to its senior management team with Scott Reid joining as head of pricing & reinsurance and Richard Halley taking up the post of partnership development manager. Mr Reid brings with him actuarial and reinsurance experience gathered from various jobs with Aon Benfield, Scor, Gen Re, and Scottish Widows. [...]
MPs have called on the insurance industry to abandon sharp practices in the management of car accident claims. In addition, the cross party Transport Committee is calling on the Government to impose a higher threshold for the payment of any compensation in whiplash cases. In a new report, the Committee warns that the spiralling cost [...]
The British Insurance Brokers’ Association (BIBA) has launched a new sanctions checking facility that should help members comply with the Terrorism Act and the Financial Services Authority’s (FSA) financial crime requirements. The facility, which is provided by Sanctions Search, allows BIBA members to screen their client lists against HM Treasury’s UK Consolidated Financial Sanctions List, [...]
HM Treasury has issued its promised consultation on how insurers can use gender as a risk factor. In March, the European Court of Justice ruled that the use of gender as a risk factor by insurers should not result in differences in premiums and benefits for men and women, with effect from 21st December 2012. [...]
The Chubb Corporation has reported its financial results for the fourth quarter of 2011, including net income of $452m, equating to $1.60 per share. This is around two-thirds the $620m ($2.02 per share) the firm made in the corresponding period last year, but is significantly greater than the Q3 2011 net income of $298m. Operating [...]
AEGON is proposing to raise at least $500 million with an offering of 8% non-cumulative subordinated notes, due 2042. As part of the offering, the Dutch insurer has granted the underwriters a 30-day option to purchase up to $75 million of notes to cover over-allotments, raising gross proceeds to $575 million, should this option be [...]
The Financial Reporting Council (FRC) has published an update for directors of listed companies in the UK aimed at helping them respond to increased country and currency risk as they prepare forthcoming annual and half-yearly reports. The watchdog says it is responding to the economic uncertainties facing a number of countries around the world. The [...]
The Association of British Insurers’ (ABI) director general, Otto Thoresen, has set out the “new normal” for the UK insurance industry. Speaking yesterday at the Insurance Institute of London, Mr Thoresen outlined three core shifts that the industry needs to accept, beginning with globalisation and the “rising star” of the economies of the Far East [...]
The Department for Work and Pensions has today published a new timetable clarifying auto-enrolment starting dates for employers of all sizes. Automatic enrolment will begin in October 2012 and all existing firms will need to have enrolled their staff by April 2017, followed by all new employers by February 2018. Also today, new research from [...]
Thomas, Carroll Group plc has announced its latest expansion, with Group Chairman John Moore stating that the fourth stage extension of the firm’s headquarters would begin in late spring. As a result, the headquarters will feature a significantly larger boardroom as well as additional office space for at least thirty new staff members. Moore also [...]
The insurance operations of XL Group plc has announced the expansion of its global Political Risk and Trade Credit (PRTC) team with a quartet of London-based appointments. Joe Blenkinsopp is to lead the new team, and he will report directly to New York-based Richard Maxwell, the global head of PRTC. Blenkinsopp will take on the [...]
Commercial insurer NIG has announced that it is bringing the remaining part of its risk management process in-house to better cater to the needs of its customers. From the start of this week the new Risk Management Support Team has operated from the firm’s Peterborough offices. The new team will now follow up risk improvement [...]
Families in the UK are struggling to build up their savings as the impact of inflation puts pressure on incomes and debt levels. So says Aviva in its latest Family Finances Report, which puts typical monthly net income for families at £2,066, an increase of 7% in the last year. However, not all family groups [...]
LV= has launched a new pensions microsite aimed at providing advisers with clarity on forthcoming technical changes to pensions legislation. The site focuses on changes in four key areas: lifetime allowance, contracting out, flexible drawdown and the new carry forward rule. The main issues affecting clients are highlighted, helping advisers to maximise business opportunities by [...]
Old Mutual is combining its Wealth Management Continental Europe (France and Italy) operations with its Skandia Retail Europe business (Germany, Austria, Poland and Switzerland) to create Wealth Management Europe. The merger follows a strategic review of the businesses prompted by economic and regulatory developments in the European long-term savings markets, and changes in customer preferences. [...]
Liberty Mutual Insurance Europe Limited (LMIE) has announced the appointment of John McCammon as chief operating officer. McCammon succeeds Patrick O’Brien, who vacated the position to become chief executive officer of Liberty Insurance in Ireland. Prior to his latest appointment McCammon served LMIE as head of Claims. McCammon is to be based in London and [...]
XL Group plc’s insurance segment has announced the appointment of Jason Harris as chief executive of the International P&C Insurance business. Harris is to be based in London and will report directly to XL insurance segment CEO Greg Hendrick. Harris will also acquire a seat on the Executive Board when he joins the firm. He [...]
