Daily Insurance Industry News
 
 
Daily Insurance Industry News
Thursday 18th of January 2018
April 30, 2010

Willis reports Q1 profits of $204m

by Richard Kilner

Story link: Willis reports Q1 profits of $204m

Global insurance broker Willis Group Holdings plc has reported its financial results for Q1 2010. Willis achieved net income of $204m, equating to $1.2 per diluted share, a modest rise on the $192m ($1.15 per diluted share) recorded in Q1 2009. Quarterly net income was hit by charge of $12m ($0.07 per diluted share) relating […]



Bowring Marsh appoints business development chief

by Richard Kilner

Story link: Bowring Marsh appoints business development chief

Insurance broker and risk adviser Marsh has announced the appointment of George Jones to the position of global head of Business Development for Bowring Marsh, the specialist international placement broker. He has been with Marsh for more than a decade, and brings to his new post extensive experience in international broking and sales. In his […]



Jelf names new Insurance CEO

by Richard Kilner

Story link: Jelf names new Insurance CEO

Jelf Group plc has announced that Phil Barton has been promoted from his present position as group commercial director to the newly created post of Jelf Insurance chief executive officer. He has been with the firm since 2003, during which time he has helped formulate Jelf’s strategic approach to marketing and led compliance function and, […]



Zurich launches Technology and Telecoms policy

by Gill Montia

Story link: Zurich launches Technology and Telecoms policy

Zurich has launched a Technology and Telecommunications product in the hope of winning customers within the fast-growing technology sector. The group’s UK Professional and Financial Lines team, which specialises in cover for breaches of professional duties, says the new offering can provide tailored cover for professional indemnity risks, including cover for privacy, network security and […]



Standard Life reports strong start to 2010

by Gill Montia

Story link: Standard Life reports strong start to 2010

In a trading update covering the three months to the end of March, Standard Life has reported a three-fold year-on-year increase in net inflows, to £2.1 billion. Worldwide long-term savings sales increased 30% to £4.6 billion with sales at the group’s UK retail long-term savings business up 23%, to £1.8 billion, when compared to a […]



April 29, 2010

Insurers cautious on RTA personal injury claim reforms

by Gill Montia

Story link: Insurers cautious on RTA personal injury claim reforms

Research regarding a new process introduced by the Ministry of Justice (MoJ) for personal injury road traffic accident claims has produced some significant results. According to Berrymans Lace Mawer LLP (BLM), a survey of insurance industry representatives found only 53% in favour of the reform, which comes into force tomorrow (30th April) for claims of […]



Bikers at risk in good weather and daylight

by Richard Kilner

Story link: Bikers at risk in good weather and daylight

Motorcyclists are most at risk from accidents during good weather and in daylight, according to research from the Institute of Advanced Motorists. Sunday is the worst day of the week for them, with 20% more accidents occurring than any other day. In light of these new findings, Post Office Motorcycle Insurance is urging motorcyclists of […]



Evolution Underwriting bolsters New Business team

by Richard Kilner

Story link: Evolution Underwriting bolsters New Business team

Evolution Underwriting, the commercial underwriting specialist, has announced the appointment of James Curtin as a commercial underwriter, bolstering the New Business team. Curtin was formerly in the service of Allianz, in Maidstone, and in his new position he will be tasked with underwriting and servicing new business products catering to Evolution’s broker base. Chief Executive […]



Post Office Travel advises UK activity holidaymakers

by Gill Montia

Story link: Post Office Travel advises UK activity holidaymakers

Post Office Travel Insurance is advising Britons taking activity holidays in the UK to make sure their travel insurance policies are up to scratch. According to research from Mintel, the domestic activity holiday market is growing fast, with nearly two million people embarking on domestic water sports holidays in 2009, and a million taking up […]



AA disappoints volcanic ash claimants

by Gill Montia

Story link: AA disappoints volcanic ash claimants

AA Travel Insurance is reported to have reneged on a promise to pay out on travel claims resulting from the volcanic ash cloud. According to yesterday’s Guardian, an original offer to cover the cost of policyholders’ disrupted travel plans was an act of goodwill, and the insurer’s underwriters have reconsidered their position as airlines look […]



Purple welcomes Jobson James as 40th member

by Gill Montia

Story link: Purple welcomes Jobson James as 40th member

Purple is welcoming its 40th member as Birmingham-based Jobson James joins the broker network. The new member, which specialises in corporate insurance and financial services, says it has been particularly attracted to Purple’s healthcare offering, which was named Best SME Proposition at the recent Healthcare industry awards. Purple was launched by Jelf in January 2008 […]



Marsh launches EMEA trade credit practice

by Gill Montia

Story link: Marsh launches EMEA trade credit practice

Marsh has launched a Trade Credit Practice for Europe, the Middle East and Africa (EMEA). The team is being led by Tim Smith, who was previously head of the broker’s UK trade credit practice. Mr Smith is being succeeded in this role by Iain Maitland, who moves from head of trade credit at the recently […]



April 28, 2010

Marsh announces raft of new appointments

by Richard Kilner

Story link: Marsh announces raft of new appointments

On 1 April March successfully completed the acquisition of HSBC Insurance Brokers Limited (HIBL), following which it has announced a plethora of new appointments. Senior executives from both Marsh and HIBL will join the UK National Corporate leadership team and take responsibility, with immediate effect, for the combined operation in their respective areas. Tom Ernoult […]



Second wind for Sharia-compliant Salaam Halal

by Gill Montia

Story link: Second wind for Sharia-compliant Salaam Halal

Principle Insurance Holdings, the parent company of Salaam Halal, the UK’s first Sharia-compliant insurance brand, has announced the conditional sale of Principle Insurance Company Limited and Principle Marketing Services Limited, to Kuwait-based Al Salam Group Holding. The transaction could result in the relaunch of Salaam Halal, which began trading in July of 2008 with a […]



Comment on Prudential’s acquisition of AIA

by Richard Kilner

Story link: Comment on Prudential’s acquisition of AIA

James Chappell, financials strategist at Olivertree Securities, has commented on the proposed acquisition of AIA Group Ltd by Prudential. Chappell has said that unhappiness amongst shareholders regarding the AIA acquisition had been known about for some time. He went on to say that there was no easy transaction to effect a break-up of the Prudential, […]



FSJ team moves to Giles

by Richard Kilner

Story link: FSJ team moves to Giles

Independent insurance broker Giles Insurance Brokers Ltd has announced that the team from specialist wholesale broker FSJ has joined its group, effective immediately. The team joins from independent wholesale, reinsurance and specialist retail insurance broker Cooper Gay, and will operate from the new Birchin Lane City office. FSJ will continue to focus upon wholesale activities […]



Zurich UK Life enhances protection proposition

by Richard Kilner

Story link: Zurich UK Life enhances protection proposition

Zurich UK Life has announced a range of new improvements to its mortgage and family protection proposition, aimed to appeal to a broad spectrum of advisers and their clients who want life and critical illness cover. Zurich has increased the maximum eligibility age for term assurance applications from 65 to 83, and has expanded the […]



Sterling Insurance bolsters Northern presence

by Richard Kilner

Story link: Sterling Insurance bolsters Northern presence

Sterling Insurance Company has announced the appointment of James Leigh to the post of regional development manager for the North. Prior to joining Sterling Leigh worked for PMI Health Group, where he worked as senior commercial consultant. In his new position Leigh will report directly to Commercial and Personal Lines Director David Sweeney, and be […]



XL Insurance installs Accenture claims management system

by Gill Montia

Story link: XL Insurance installs Accenture claims management system

Commercial lines specialist, XL Insurance, is implementing a new centralised claims management system to support its operations in 25 countries. The facility is already in use in the US, Canada and Bermuda and will be rolled out in South America, Europe and Asia shortly. Based on Accenture’s Claim Components Solution, the system has been designed […]



AXA recruits to support financial lines expansion

by Gill Montia

Story link: AXA recruits to support financial lines expansion

AXA Insurance has made a number of specialist appointments to underpin growth in the SME and mid-corporate markets. On the SME front, a new Financial Lines unit has been created to develop Management Liability and Professional Indemnity offerings over the coming year. Callum Taylor has been appointed head of Management Liability, having previously worked for […]