Legal firms warn on “next generation” outsourcing
by Gill Montia
Story link: Legal firms warn on “next generation” outsourcing
Two legal firms have raised concerns about so called “next generation” outsourcing.
The phrase refers to changes in the way in which outsourcing decisions are planned and implemented that will fundamentally alter the way outsourcing relationships are managed and measured.
Marsh and Hunton & Williams, the global law firm, are warning that the changes raise complex risk […]
JC Flowers seeks to fund Friends Provident bid
by Gill Montia
Story link: JC Flowers seeks to fund Friends Provident bid
US private equity firm, JC Flowers, is reported to be negotiating funds from a consortium of banks to finance a bid for Friends Provident, the life insurer.
RBS, HBOS, HSBC and Morgan Stanley have apparently been approached by JC Flowers, which is looking for £1.5 billion to help fund the acquisition.
Around £1.2 billion is expected to […]
New COO for Willis North America
by Richard Kilner
Story link: New COO for Willis North America
Vic Krauze has been named by Willis as the firm’s new chief operating officer for North America.
Previously he held the post of regional executive officer for the central region.
Krauze, who takes up the post immediately, succeeds Tom Ealy who has moved on to lead Willi’s Commercial and Consumer segments.
Willis North America’s chief executive officer, Don […]
Thatcham reveal new chairman
by Richard Kilner
Story link: Thatcham reveal new chairman
Thatcham has appointed Bill Paton as the organisation’s new chairman.
Paton currently holds the post of chief claims officer at Zurich, and in his new capacity as Thatcham chairman will be responsible for leading a board consisting of 34 representatives of the research centre’s members.
He brings with him over two decades of experience in the industry.
All […]
New board members at VP named by Reid
by Richard Kilner
Story link: New board members at VP named by Reid
Venture Preference’s management board has been declared by Stuart Reid, who joined the firm as chief executive in January.
Ian Story will join the board in the role of chief financial officer. Story joined the firm when it acquired Smart & Cook.
Chief operating officer Shaun Hooper will also become a board member.
Reid explained that the strength […]
Record results for Allianz
by David Masters
Story link: Record results for Allianz
German insurance and reinsurance mega-company Allianz Group have reported a net income growth of 13.5% for 2007 in spite of a difficult environment.
The company attributed its strong growth to a low level of catastrophe claims.
Allianz’s net income increased from €7.021 billion in 2006 to €7.996 billion in 2007.
The group also owns the German investment bank […]
Ecclesiastical takes control at SEIB
by David Masters
Story link: Ecclesiastical takes control at SEIB
South Essex Insurance Brokers (SEIB) and Equestrian Underwriting Agencies have been acquired by Ecclesiastical.
SEIB controls a total premium of almost £28 million. This premium is mostly from the broker’s commercial schemes business.
Ecclesiastical expects that the acquisition of SEIB’s operational assets and liabilities will be complete by the end of March. SEIB’s name, location […]
ESR acquired by Crispen Speers
by David Masters
Story link: ESR acquired by Crispen Speers
ESR, the fraud-plagued broker that went into administration last week, have reportedly been taken over by Lloyd’s broker Crispin Speers and Partners (CSP). The announcement comes after Apex Insurance Service, representing CSP, reached an agreement with Grant Thornton, the administrators of ESR.
ESR will continue to be managed by existing directors Paul Goodman and David […]
Competition keeps home insurance profit low
by Gill Montia
Story link: Competition keeps home insurance profit low
Predictions of a rise in home insurance premiums in the wake of last summer’s flooding are challenged by new research from Datamonitor, the independent market analyst.
Last year, home insurers paid out over £300 million in flood claims but fierce competition in the market is expected to prevent insurers recouping losses by increasing the cost of […]
Liability Services opens Leeds office
by Gill Montia
Story link: Liability Services opens Leeds office
Liability Services, the specialist liability division of Cunningham Lindsey, is opening an office in Leeds.
The new team will be headed by Bob Allen, who recently joined the business from Garwyn.
It will focusing on employers’ liability and public liability claims for a range of clients including insurers, corporate bodies, local authorities and utility companies.
The Leeds office […]
Rugby fans advised to check travel insurance
by Richard Kilner
Story link: Rugby fans advised to check travel insurance
With the Six Nations gearing up for its third weekend of international rugby clashes fans are being urged to make sure their travel insurance is adequate when they travel overseas.
The Six Nations tournament covers England, Wales, Ireland, Scotland, Italy and France. This weekend will see an exodus of England fans visiting Paris.
Halifax Travel Insurance is […]
Lloyd’s issues warning on SE Asia terrorism
by Richard Kilner
Story link: Lloyd’s issues warning on SE Asia terrorism
Lloyd’s and the International Institute for Strategic Studies have released a report urging businesses in SE Asia that the terrorist dangers they face are complex, and specific.
The report, entitled Terrorism in Asia: What does it mean for business, states that traditional terrorism is being replaced by threats specific to a given area, such as professional […]
Dodd hired by Brit Insurance
by Richard Kilner
Story link: Dodd hired by Brit Insurance
Andrew Dodd has been named by Brit Insurance as the firm’s new head of motor fleet for the London area.
His appointment is the last one for the London Region operation, and completes the personnel setup for the newly created division.
He brings with him over two decades of experience in the motor sector, and leaves behind […]
Arista bolsters its Southampton presence
by Richard Kilner
Story link: Arista bolsters its Southampton presence
Arista has bolstered its Southampton branch with the addition of two new appointments.
Stuart Bulbrooke has been named as southern regional manager.
He joins Arista from ACE Europe, where he spent 17 years.
In his new position Bulbrooke will be tasked with overseeing the implementation of Arista’s strategy for the south of England.
Nia James has been appointed to […]
Ecclesiastical acquired SEIB
by Gill Montia
Story link: Ecclesiastical acquired SEIB
Ecclesiastical, the specialist insurer of churches, has acquired South Essex Insurance Brokers (SEIB) and Equestrian Underwriting Agencies.
SEIB controls gross written premiums of almost £28 million, mostly through its commercial schemes business.
The transaction is expected to be completed towards the end of March and SEIB’s company name, staff and location will be retained following […]
CCTV is no route to lower premiums
by Gill Montia
Story link: CCTV is no route to lower premiums
Norwich Union is warning its customers that installing CCTV at domestic premises will not necessarily result in lower insurance premiums.
While CCVT is still regarded as something of a niche product in the domestic market, demand for the security systems is increasing.
Electrical retailer, Maplin, has reported a 70% increase in its sales of domestic security […]
Homeserve stays positive despite rising cash settlements
by David Masters
Story link: Homeserve stays positive despite rising cash settlements
Homeserve have announced that their emergency service business has been severely hit by an increase in cash settlements due to last summer’s floods.
The company said in a statement that although they are focusing on restoration work, their “additional workload continues to be offset by reduced volumes in other trades partly impacted by higher cash […]
Absolute makes a quartet of appointments
by Richard Kilner
Story link: Absolute makes a quartet of appointments
Absolute CM has made a quartert of appointments to meet demand for its services as a specialist provider of outsourced fraud management solutions.
The four new employees, Melanie Patterson, Mark Skerrett, Claire Peed and David Fowley, bring with them almost four decades of experience.
All four join the firm from Conversant Data, where they held positions as […]
Charman’s stint as CEO extended to 2013
by Richard Kilner
Story link: Charman’s stint as CEO extended to 2013
Axis Capital Holdings Limited has revealed that John Charman, the firm’s chief executive officer and president, is to remain until the end 2013.
The chairman of the firm’s board, Michael Butt, has welcomed the extension of Charman’s presence in post, describing him as a strong leader.
Butt refers to the recent strong performance that has been enjoyed […]
New development chief for Allianz
by Richard Kilner
Story link: New development chief for Allianz
Jost Wahlen has been appointed by Allianz to serve as the firm’s new head of learning and development.
He leaves behind engineering firm Bombardier, where he held the post of director of workforce development.
In his new role Wahlen will be responsible for supervision of the Underwriting Academy, graduate schemes and a range of measures designed to […]
