Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 21st of July 2018
June 30, 2008

McFadden becomes Lockton’s NY VP

by Richard Kilner

Story link: McFadden becomes Lockton’s NY VP

Lockton Companies has appointed Michael McFadden to the post of executive vice president for the firm’s operations in New York. He brings 20 years of industry experience to his new role, during which time he has held a broad range of senior positions. Before joining Lockton he served with Marsh’s Private Equity and Mergers Practice […]



Ecclesiastical bolsters its casualty capability

by Richard Kilner

Story link: Ecclesiastical bolsters its casualty capability

Specialist insurer Ecclesiastical has announced the appointment of Chris Lynwood as technical casualty manager. Lynwood leaves behind Capita, where he held the same position, to join Ecclesiastical. He brings over three decades of experience in the insurance industry to his new post, including 10 years spent in the liability claims sector. In his new role […]



Open GI’s eBroker expanded

by Richard Kilner

Story link: Open GI’s eBroker expanded

Open GI’s eBroker solution is being extended to permit firms to quote online for schemes beyond the standard Open GI search engines. In September last year the eBroker was launched as an addition to Open GI’s eCommerce portfolio. It creates a method to trade over the internet by utilising the firm’s search engines. Direct data […]



Giles acquires again in Wales

by David Masters

Story link: Giles acquires again in Wales

Giles Insurance has acquired the Wales-based broker Paul Murphy Insurance Services for an undisclosed sum, marking the second Welsh acquisition for the company within a week. The acquisition is the tenth for Giles since March this year, and is a key part of the company’s growth strategy. Charthouse Capital Partners acquired a stake in Giles […]



June 27, 2008

Prudential to retain £8.7 billion inherited estate

by Gill Montia

Story link: Prudential to retain £8.7 billion inherited estate

Prudential has announced that its plans to return part of its £8.7 billion with-profits surplus to policyholders and shareholders are being shelved. Around 4.5 million policyholders could have benefited from the reattribution of the company’s so-called inherited estate which has accrued because Prudential has held back a proportion of its investment returns during profitable years, […]



Aon bolster Health & Benefits practice with Matsumoto

by Richard Kilner

Story link: Aon bolster Health & Benefits practice with Matsumoto

Aon Corporation’s human capital consulting wing, Aon Consulting Worldwide, has announced the appointment of Mike Matsumoto as senior vice president at the New York office. Matsumoto will also assume the role of Japanese business leader for the Health & Benefits practice. He brings over three decades of industry experience to his new role, and joins […]



Age discrimination law demands new approach from insurers

by Gill Montia

Story link: Age discrimination law demands new approach from insurers

Questions are already being asked about the impact on the insurance sector of the Government’s new Equalities Bill, which aims to put an end to age discrimination in England and Wales while at the same time allowing employers to discriminate in favour of female and ethnic minority job applicants. The proposals were outlined in the […]



June 26, 2008

Amber top for B&B rights issue

by Richard Kilner

Story link: Amber top for B&B rights issue

The Institutional Voting Information Service (IVIS) has given its verdict on Bradford and Bingley’s amended rights issue and proposed 23% sale to TPG. IVIS, which is operated by the ABI, has considered the move to be worthy of an ‘amber top’, an indicator that the shareholders who will vote on the matter should give it […]



Marsh hire global employee benefits leaders

by Richard Kilner

Story link: Marsh hire global employee benefits leaders

Marsh has announced the appointment of Greg Arms to the position of global leader of the Employee Benefits Practice. He brings three decades of industry experience to the role, having occupied posts with UnitedHealth Group and American International Group. He leaves behind Willis, where he served as chairman and chief executive officer of Willis Group […]



AXA resonds to Pitt Report

by Gill Montia

Story link: AXA resonds to Pitt Report

Following yesterday’s publication of the final report of the Pitt Review of last summer’s flooding, AXA has responded in the form of a statement from its claims director, David Williams. Mr Williams said that the company welcomed the report and will be studying its practical recommendations aimed at preventing and mitigating the effects of flooding. […]



Open International sees continued growth of eAggregator

by Gill Montia

Story link: Open International sees continued growth of eAggregator

Open International, the provider of Open GI, the Countrywide broking network and Internet based trading provider, has reported that demand for its eAggregator solution continues to increase. The solution was launched in December of last year and the firm says it has secured 15 broker contracts in less than six months. eAggregator helps brokers to […]



June 25, 2008

Pitt report acknowledges insurers’ strengths and weaknesses

by Gill Montia

Story link: Pitt report acknowledges insurers’ strengths and weaknesses

The Pitt report on last summer’s flooding has been published today. Among its 92 recommendations are proposals for the development of a 25-year plan to address the issue of flooding. The author of the report, Sir Michael Pitt, wants to see a review of building regulations for homes built or refurbished in flood-prone areas and […]



KPMG fined £500,000 over Independent Insurance audit

by Gill Montia

Story link: KPMG fined £500,000 over Independent Insurance audit

Accountancy firm KPMG and one of its auditors, have been fined £495,000 and £5,000 respectively for failing to complete a professional audit of Independent, the insurance company that collapsed in 2001 with the loss of over 1,000 jobs. The Joint Disciplinary Scheme, an independent body set up by the Institute of Chartered Accounts, has found […]



Crawford bolsters international construction team

by Richard Kilner

Story link: Crawford bolsters international construction team

Crawford and Company has announced a pair of senior appointments to strengthen its International Construction and Engineering team. Mark Savage and Marc Godfrey both join the firm from Miller International Loss Adjusters. Savage returns to Crawford, where he spent two years prior to moving to Miller, to assume responsibility for management of the London office, […]



New underwriting manager for Allianz Commercial

by Richard Kilner

Story link: New underwriting manager for Allianz Commercial

Stephen Cornforth has been appointed by Allianz Commercial to serve in the newly created position of property and casualty underwriting manager at the Chelmsford branch. Cornforth will be tasked with creating technical underwriting solutions and fostering business relationships in the local area. He brings over two decades of insurance experience to his role, and has […]



Thoretz made Willis’ communications VP

by Richard Kilner

Story link: Thoretz made Willis’ communications VP

Willis Group Holdings Limited has appointed Will Thoretz to serve as vice president of group communications, with immediate effect. He brings with him a quarter of a century of experience and leaves behind VNU N.V. (now The Nielsen Company) where he worked as senior vice president and chief communications officer. In his New York-based role, […]



Benfield add William Riker to its board

by Richard Kilner

Story link: Benfield add William Riker to its board

Benfield has announced the appointment of William Riker to its board of directors. Riker joins the board as a non-executive director, effective from 1 September of this year. For the past eight years he has served Renaissance Re as president, having previously held the posts of senior vice president and vice president of underwriting. Earlier […]



Insurers furious at Scottish asbestos ruling

by David Masters

Story link: Insurers furious at Scottish asbestos ruling

Insurers across the UK have been left fuming following new legislation from the Scottish Government giving those harmed by asbestos the right to claim compensation. Last year, the House of Lords ruled that people exposed to asbestos could only claim compensation if the exposure had resulted in a physical problem. Many people exposed to asbestos […]



June 24, 2008

Aon promote Hagy to corporate treasurer

by Richard Kilner

Story link: Aon promote Hagy to corporate treasurer

Paul Hagy has been promoted by Aon Corporation to serve as the firm’s new corporate treasurer. He leaves behind his former post of vice president to succeed Diane Aigotti, who parted ways with the firm two months ago. It was in 2002 that he first joined Aon, then as assistant treasurer, bringing with him experience […]



Guy Carpenter appoint Rozas as CIO

by Richard Kilner

Story link: Guy Carpenter appoint Rozas as CIO

Guy Carpenter has announced the appointment of Trisha Rozas to the newly created post of chief information officer. She leaves behind CIT Group, where she served as chief information officer of commercial finance, to join Guy Carpenter. During her career she has also worked for AIG, Deloitte and Touche, and Chemical Bank. Rozas, who assumes […]