Zurich appoints Latin America CEO
by Richard Kilner
Story link: Zurich appoints Latin America CEO
Zurich Financial Services Group has named Peter Rebrin as the new chief executive officer for Zurich Latin America.
He first joined the firm a decade ago and in that time has held a range of international and Latin American leadership positions.
For the last two years he has been the chief operating officer for Zurich Latin America.
Rebrin, [...]
Dublin’s re/insurance market keeps growing
by Richard Kilner
Story link: Dublin’s re/insurance market keeps growing
The representative body for the international re/insurance industry in Ireland DIMA has reported a record year of premium income growth within its membership.
According to the organisation’s figures, gross written premiums rose to €26.2bn, with net premiums standing at €21.7bn.
In addition, the membership’s total assets reached €65.1bn, with capital and surplus of €12.4bn.
Sixty-one firms are members [...]
Barclays linked to Standard Life Bank sale
by Gill Montia
Story link: Barclays linked to Standard Life Bank sale
Standard Life is rumoured to be in talks to sell its banking unit.
According to reports, the business could be worth between £200 million and £300 million and Barclays is the favorite to secure a deal.
Standard Life Bank is headquartered in Edinburgh where it employs around 300 staff.
The unit carries savings balances of around £5.5 [...]
Lucida strikes deal with Merchant Navy Officers’ Pension Fund
by Gill Montia
Story link: Lucida strikes deal with Merchant Navy Officers’ Pension Fund
Lucida Plc, the insurance company focused on the annuity and longevity risk business, has agreed to insure £500 million in pension liabilities held by the trustees of the Merchant Navy Officers’ Pension Fund (MNOPF).
The MNOPF was set up in 1937 to allow shipping companies to provide retirement and death benefits for their officers and the [...]
Moneyfacts names best pensions providers
by Gill Montia
Story link: Moneyfacts names best pensions providers
Moneyfacts has announced the winners of its 2009 Investment Life and Pensions awards.
AEGON Scottish Equitable was acknowledged as Best Pension Service provider, with Standard Life and Scottish life gaining the category’s highly commended and commended statuses respectively.
Lloyds Banking Group’s Scottish Widows was named Best Personal Pension Provider and AJ Bell Best SIPP Provider.
Scottish Life won [...]
No hiding place for PPI mis-sellers
by Gill Montia
Story link: No hiding place for PPI mis-sellers
The day of reckoning has arrived for lenders who mis-sold single premium payment protection insurance (PPI) alongside unsecured loans and credit card agreements, and then tossed aside consumer complaints about their practices.
The Financial Services Authority has announced “a package of tough measures” which it says will “tackle the key issue that too many complaints are [...]
Aviva: 56% of SMEs diversify to survive
by Richard Kilner
Story link: Aviva: 56% of SMEs diversify to survive
According to new research by Aviva over half of SMEs (small and medium-sized enterprises) have embarked upon a diversification strategy to enhance their chances of surviving the recession.
Broadening the product/service range, weekend opening, lengthening opening hours and widening the customer base are all common steps that have been taken by SMEs to try and shore [...]
AXA UK appoints marketing and communications director
by Richard Kilner
Story link: AXA UK appoints marketing and communications director
AXA UK has announced the appointment of Cheryl Toner as marketing and communication director.
She succeeds incumbent director Olivier Mariée who moves to Paris to serve as the firm’s global group marketing and distribution director.
Toner will be directly responsible to the chief executive of AXA UK, Nicolas Moreau, and will assume her post on 1 November, [...]
Direct Travel Insurance and Holiday Extras team up
by Richard Kilner
Story link: Direct Travel Insurance and Holiday Extras team up
Direct Travel Insurance and Holiday Extras have made an agreement to offer airport parking and hotel booking facilities via its website.
Web users browsing Direct Travel Insurance’s site will be able to pick from a selection of competitive quotes on airport parking and hotels within the UK.
Holiday Extras Account Manager James Lewis has stated the firm [...]
jml signs up Staysure and JS Insurance
by Gill Montia
Story link: jml signs up Staysure and JS Insurance
Staysure and JS Insurance have introduced their products to the jml website.
Staysure specialises in the over 50’s market and is using jml to market its Over 50’s travel insurance and Over 50’s Holiday Homes Property insurance.
JS Insurance, which is a unit of Jade Stanley Ltd, is providing travel insurance for residents of EU countries, [...]
China sets new standards for personal accident market
by Gill Montia
Story link: China sets new standards for personal accident market
The China Insurance Regulatory Commission (CIRC) has set new standards for the country’s personal accident insurance sector.
Firms are being told to restrain their branches and agents from illegal activities and introduce uniform coding mechanisms on personal accident policies.
Insurers will also have to establish connections among policy providing systems, policy management systems and core business systems.
At [...]
Willis secures Panama Canal Authority contract
by Gill Montia
Story link: Willis secures Panama Canal Authority contract
Willis has secured a one-year contract for insurance brokerage services with the Panama Canal Authority (PCA); the agreement includes an option to renew for three additional years.
The firm will provide strategic risk management services to the PCA and guide the authority in its choice of cover for property, floating equipment, loss of income and maritime [...]
PJ Hayman launches Travel for Treatment policy
by Gill Montia
Story link: PJ Hayman launches Travel for Treatment policy
PJ Hayman has launched Free Spirit Travel for Treatment, a new policy aimed at UK nationals travelling abroad for medical procedures.
According to the firm, so called medical tourists are at risk if they take out only standard travel insurance.
While there are some specific policies that provide some protection for additional travel/accommodation costs they do [...]
Guy Carpenter named Best Large Reinsurance Broker
by Richard Kilner
Story link: Guy Carpenter named Best Large Reinsurance Broker
Guy Carpenter & Company, LLC enjoyed a good night at the 2009 Global Awards dinner, hosted by Reactions magazine in New York.
Guy Carpenter won the Best Large Reinsurance Broker award from the magazine, whose award ceremony is now in its eighth year.
The awards recognise innovative and strong performance within the world’s insurance sector, and are [...]
Aon Poland acquires Progres
by Richard Kilner
Story link: Aon Poland acquires Progres
Aon has announced that Aon Poland has acquired Dom Brokerski Progres S.A. and Progres Services Sp z.o.o., one of the market leaders in the automotive brokerage sector in Poland.
Together the combined entity will be one of the largest insurance brokers in the country, however, financial details of the deal have not been disclosed.
Aon Central and [...]
Kiln expands in space and international logistics
by Gill Montia
Story link: Kiln expands in space and international logistics
Kiln, the Lloyd’s insurance and reinsurance underwriting group, has announced that it is entering the space market.
The move is being supported by the appointment of specialist space underwriter, Laurent Esquirol, who will write business from the group’s Paris office.
Mr Esquirol has 15 years’ experience in the sector, having worked for seven years in the space [...]
Zurich and CSC negotiate 10-year IT contract
by Gill Montia
Story link: Zurich and CSC negotiate 10-year IT contract
Zurich Financial Services has entered into exclusive talks with Computer Sciences Corporation (CSC) regarding a potential $2.4 billion IT contract.
According to CSC, the potential 10-year deal would cover managed data centre and IT infrastructure services across Zurich’s European and North American operations, plus data center centralization and server virtualization.
It would take the form of a [...]
Aviva extends access to Pension Tracker service
by Gill Montia
Story link: Aviva extends access to Pension Tracker service
Aviva has announced that it is extending access to its Pension Tracker service and making it available to one million customers.
The facility takes the form of a secure online tool that aims to make pension planning easier for consumers.
Accompanied by “Lisa” (who is described as “a ground-breaking virtual online guide) Aviva pension holders [...]
Brits want tougher punishments for uninsured drivers
by David Masters
Story link: Brits want tougher punishments for uninsured drivers
Nearly two thirds of Brits believe motorists who drive without insurance should face stricter penalties.
A poll by moneysupermarket.com found 62% of people think uninsured drivers should be given harsher punishments.
The number of motorists taking to the road without insurance has increased by a third in the past year.
Moneysupermarket.com, however, believes getting tough on motorists is [...]
Why are the poor insurance averse?
by David Masters
Story link: Why are the poor insurance averse?
A new book explores why the world’s poorest people are averse to buying insurance.
The authors of ‘Portfolios of the Poor: How the World’s Poor Live on $2 a Day’ researched the finances of poor households in Bangladesh, India, and South Africa.
Households were found to be financially savvy, managing their money well rather than immediately spending [...]
