Atradius and Crédito y Caución Merger Confirmed
by Stewart Douglas
Story link: Atradius and Crédito y Caución Merger Confirmed
Atradius and Crédito y Caución have put an end to months of speculation through, confirming they will complete a merger that will allow them to “look forward to leading the global credit
insurance industry.” As the second and fourth largest credit insurers, they now anticipate
controlling 31% of the global credit insurance market post-merger.
The combined company, now […]
McCammon joins Liberty
by Richard Kilner
Story link: McCammon joins Liberty
Liberty International Underwriters has appointed John McCammon as head of claims for Europe.
He joins the firm from Sagicor, leaving behind his position there as head of claims.
McCammon will have responsibility for claims across all product lines in his new position.
The firm’s European chief executive, Sean Rocks, has expressed his delight at the new appointment, describing […]
Blair appointed Zurich advisor
by Richard Kilner
Story link: Blair appointed Zurich advisor
Former Prime Minister Tony Blair has signed an advisory agreement with Zurich Financial Services.
James Schiro, the firm’s chief executive officer, will receive advice from Blair as part of the deal.
In addition, Blair will offer general advice about the global political scene.
He will also have the particular task of assisting the firm with its recently announced […]
Hindson named as IRM director
by Richard Kilner
Story link: Hindson named as IRM director
The Institute of Risk Management has elected Alex Hindson, Aon’s head of enterprise risk management, as board director.
In his position as director, Hindson will be tasked with the promotion of educational achievement for enterprise risk management.
He will also be responsible for increasing the numbers of international students and members by bolstering the network of blogs […]
Highway names Watkinson as new hire & reward manager
by Richard Kilner
Story link: Highway names Watkinson as new hire & reward manager
Highway has announced that Nick Watkinson will become the firm’s new hire & reward underwriting manager.
Watkinson brings over two decades of industry experience with him to his new position, and leaves behind Westminster where he held the post of head of sales and marketing.
In his new role he will be responsible for making Highway a […]
Lambert appointed by Marsh
by Richard Kilner
Story link: Lambert appointed by Marsh
Carrick Lambert has been named by Marsh as the firm’s new managing director of EMEA Financial Institutions Industry Practice.
Lambert has over 15 years of experience in the industry, and leaves behind a post as managing director of Aon’s Global and UK Financial Institutions Industry Practices.
He has said he looks forward to working with new clients […]
Solvency II Directive Being Ignored, Says Deloitte
by Stewart Douglas
Story link: Solvency II Directive Being Ignored, Says Deloitte
The majority of UK insurers feel the introduction of the Solvency II capital adequacy directive will have a burdenous impact on their business, with even more less than adequately prepared to handle the implications of the European legal instrument when it comes in to force, according to a report released today by accountants and business […]
Aviva To Abandon Windfall Payments
by Stewart Douglas
Story link: Aviva To Abandon Windfall Payments
Insurance group Aviva has today suggested it is prepared to abandon initial proposals to return windfall payments to over one million customers if it cannot finalise the terms of the deal over the next few months, in a move that has arisen from frustrated talks with policyholder representatives.
The group has been heavily involved in discussions […]
Lawyers welcome government position on pleural plaques
by Richard Kilner
Story link: Lawyers welcome government position on pleural plaques
Lawyers from legal firm DWF have welcomed the government’s decision not to legislate to overturn the House of Lords’ judgement on the pleural plaques case.
Late last year the Law Lords came to the view that pleural plaques, indicative of exposure to asbestos but without symptoms, were not on their own enough to warrant compensation.
In the […]
Willis appoints Perry to Singapore
by Richard Kilner
Story link: Willis appoints Perry to Singapore
Rob Perry has been appointed by Willis Group Holdings to the firm’s Singapore-based political risk and trade credit team as an executive director.
Perry has experience across a broad spectrum of political risk, and in his new role he will be tasked with handling project finance, aviation and financial institutions.
Previously he has worked for Willis in […]
Reading chief named by Marsh
by Richard Kilner
Story link: Reading chief named by Marsh
Alistair Fraser has been appointed by Marsh as the firm’s new Reading head of office.
Fraser leaves behind his post as branch director in Reading, which he held whilst at Willis.
In his previous position he had responsibility for all areas pertaining to fostering new business, growth and service delivery.
Fraser brings with him over a decade of […]
Reid named CEO at Venture Preference
by Richard Kilner
Story link: Reid named CEO at Venture Preference
The joint chief executive officers of Venture Preference, which is owned by AXA, are departing.
Paul Meehan and Chris Blackham will be replaced by Stuart Reid, who will handle the post of chief executive officer in a solitary capacity with immediate effect.
Meehan and Blackham’s significant contribution in the formative time of Venture has been praised by […]
THB Acquires PWS
by Stewart Douglas
Story link: THB Acquires PWS
Insurer THB Group has today confirmed that it has completed the acquisition of PWS, the Lloyd’s insurance broker after several weeks of speculation as to whether or not a deal would be reached, in a move designed to increase global reach for the firm whilst providing better value service to customers worldwide.
The news comes following […]
Aon Responds To Societe Generale Incident
by Stewart Douglas
Story link: Aon Responds To Societe Generale Incident
Insurer Aon has today released a statement in response to the high profile Societe Generale fraud case in which a rogue trader managed to amass some $7 billion of loss undetected by his employers, casting further doubt over the health of the banking industry, and the long term projections for Societe Generale.
Having traded under the […]
Allianz records highest ever profits
by Richard Kilner
Story link: Allianz records highest ever profits
The Allianz Group has confirmed its forecast for its 2007 results, based on it prelimary figures.
Both operating profit and net income are expected to rise, to €10.8bn and €8bn respectively.
The operating profit for property and casualty will come in at over €6.2bn for 2007, and life and health will reach the €3bn level.
The banking business […]
12m people covered by critical illness insurance
by Richard Kilner
Story link: 12m people covered by critical illness insurance
Dr Marius Barnard has described critical illness insurance as one of the largest policies in the UK.
Dr Barnard created the product fifteen years ago, and has said that over the course of that time it has been refined and improved.
When it was first introduced in 1983, critical illness insurance covered only four conditions.
The modern […]
British weather puts homes at risk
by Richard Kilner
Story link: British weather puts homes at risk
Abbey Home Insurance has warned that ever increasing numbers of British homes could be at risk from hazardous weather conditions.
Dangerous weather conditions cause an average damage of £2,699, the firm has estimated.
In addition, 5% of damage is reckoned to occur within a home, a fact that is often overlooked.
Abbey Home Insurance’s chief of product development, […]
Mortgage approvals decline
by Richard Kilner
Story link: Mortgage approvals decline
The British Bankers’ Association has released statistics that reveal mortgage approvals for home buying has fallen by more than a third, year on year.
The decline of 37.8% is the third month in a row that has seen such a fall and marks the lowest ever performance since the British Bankers’ Association eleven years ago.
Contrasting with […]
Insurancewide partners eBayMotors
by Gill Montia
Story link: Insurancewide partners eBayMotors
Insurancewide.com, the insurer comparison service, has formed a partnership with eBayMotors.co.uk, the online automotive marketplace that sells a car every two minutes and a motorbike or scooter every four minutes.
Under the agreement, insurancewide will provide eBayMotors’ site visitors with a comprehensive range of car insurance options.
Visitors will be able to click through to a new […]
Towergate acquires British Insurance
by Gill Montia
Story link: Towergate acquires British Insurance
Towergate, the independently owned insurance intermediary, has acquired British Insurance, the award wining provider of payment protection insurance.
British Insurance specialises in the mortgage and loan payment protection market and has gross written premiums of around £10 million.
Following completion on the transaction, British Insurance staff will be retained, including the firm’s managing director, Simon Burgess.
The […]
