Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 18th of July 2018
June 30, 2010

Amlin bolsters specie team

by Richard Kilner

Story link: Amlin bolsters specie team

Specialist insurer Amlin has announced the appointment of James Farquhar to post of leading class underwriter, Specie. In his new position Farquhar will be tasked with collaborating with Class Underwriter Rod Little to build up the firm’s account. Prior to joining Amlin he worked for Catlin in a ten year stint as a specie underwriter […]



LV= urges travellers to have jabs

by Richard Kilner

Story link: LV= urges travellers to have jabs

Travel insurer LV= has commissioned research showing that British travellers may be putting their health in jeopardy by avoiding recommended travel vaccinations. The findings, which come as GPs report a rise in the cost of jabs, indicate that 26% of travellers during the last year went without vaccinations for diseases including diphtheria and typhoid. A […]



FSA reports “mixed performance” in with-profits review

by Gill Montia

Story link: FSA reports “mixed performance” in with-profits review

The Financial Services Authority (FSA) has published the findings of its review of with-profits funds, which looked specifically at how senior managers have implemented FSA rules on treating policyholders fairly. The regulator has reported a “mixed performance” with a significant number of firms “not adequately demonstrating” the practices it expects from a well-run with-profits business. […]



June 29, 2010

FM Global named in list of top US insurers

by Richard Kilner

Story link: FM Global named in list of top US insurers

Business property insurer FM Global is one of the best property/casualty insurers for long-term financial performance, according to Fitch Ratings. Fitch included the insurer on a 25-strong list of US-based insurance companies which were assessed on underwriting margin, net profit margin, cash flow, returns on capital and internal capital formation. In the report FM Global […]



Courtesy cars standard with only 23% of car insurance

by Richard Kilner

Story link: Courtesy cars standard with only 23% of car insurance

Financial research company Defaqto has conducted research which reveals huge variability between the numerous comprehensive car insurance policies available in the UK. The research indicated that less than a quarter (23%) of insurance policies include a courtesy car as standard, with less than half (49%) not providing a courtesy car at all. Twenty-eight percent of […]



Catlin to establish Swiss reinsurance business

by Gill Montia

Story link: Catlin to establish Swiss reinsurance business

Catlin Group has announced its intention to form a reinsurance company in Switzerland. The international speciality property/casualty insurer and reinsurer has applied to the Swiss Financial Market Supervisory Authority to establish Catlin Re Switzerland. The new unit, which will have capital of at least $1 billion from internal resources, will also establish a Bermuda branch […]



New online broker Netpig signs up with Open GI

by Gill Montia

Story link: New online broker Netpig signs up with Open GI

Open GI’s e-commerce solutions will be powering online broker, Netpig Insurance, which is due to launch this month. The new venture is the brainchild of Ian Meyer, formerly a director of Capita Insurance and development director of Hero Insurance. It will initially focus on personal lines business, with the intention of broadening out in the […]



June 28, 2010

Evolution appoints business development executive

by Richard Kilner

Story link: Evolution appoints business development executive

Evolution Underwriting, the specialists in commercial underwriting, have announced the appointment of Rachael O’Neil as business development executive. In her new role O’Neil assumes responsibility for developing the firm’s presence in the Midlands. She brings extensive, in-depth knowledge of the region to her new post, having previously worked there earlier in her career, including for […]



ELSA launches IFA life settlements consultation

by Gill Montia

Story link: ELSA launches IFA life settlements consultation

The European Life Settlement Association (ELSA) has launched a retail market consultation into the practices and issues surrounding life settlements. The body is in the process of developing a code of practice for sellers of traded life policy investments and has decided to engage specifically with the IFA community because of questions already raised by […]



Airline failure a particular threat to independent travellers

by Gill Montia

Story link: Airline failure a particular threat to independent travellers

A recent report from Defaqto suggests independent holidaymakers should review their travel insurance policies to see whether they cover the failure of scheduled airlines. According to the independent financial researcher, only 20% of insurance policies provide this feature and while many offer cover of £1,500 or more, limits may not be sufficient when taking into […]



CBI: life insurers lead the way in volume and profit

by Gill Montia

Story link: CBI: life insurers lead the way in volume and profit

A Confederation of British Industry (CBI) / PricewaterhouseCoopers survey published today revels that UK financial services grew in the three months to June 2010, at the fastest rate since September 2007. Life insurers saw “healthy increases” in volumes, and profitability grew strongly for the second successive quarter. General insurers’ volumes were largely flat and overall […]



June 25, 2010

Heath Lambert continues Diabetes UK partnership

by Richard Kilner

Story link: Heath Lambert continues Diabetes UK partnership

Heath Lambert has won the competitive tender to provide health charity Diabetes UK with personal lines and life insurance products. Diabetes UK has a membership exceeding 160,000, and selected Heath Lambert only after the firm beat off a number of rival competitors for the tender. Associate Director for Heath Lambert Insurance Services, Diane Caplehorn, expressed […]



MMA expands scope of micro underwriting team

by Richard Kilner

Story link: MMA expands scope of micro underwriting team

Insurer MMA has announced that it is expanding the product range remit of its micro underwriting team. The decision, made as part of a first year review, will see the micro underwriting team add Motor Trade Road Risks and Internal Risks and smaller Commercial Property Owner risks to its remit. The team recently celebrated its […]



Men likelier to have comprehensive car insurance

by Richard Kilner

Story link: Men likelier to have comprehensive car insurance

Recent research commissioned by Post Office Car Insurance has revealed that when it comes to comprehensive car insurance it’s men who are in the fast lane, with 58% possessing such a policy compared to 44% of women. Post Office Car Insurance strongly advocates taking out a comprehensive insurance policy to protect against accidents, theft or […]



Consumers warned against under insurance

by Richard Kilner

Story link: Consumers warned against under insurance

Ian Gosden, managing director of Higos Insurance Services, has urged consumers not to let the recent rise in Insurance Premiumt Tax (IPT) put them off getting adequate coverage. The IPT rise was less than had been expected, but is coupled with a 2.5% increase in VAT, and may cause some to consider reducing insurance coverage […]



Whittington vies with Aviva for Asian direct markets

by Gill Montia

Story link: Whittington vies with Aviva for Asian direct markets

Whittington Group is launching an online business in Singapore, offering motor, travel, home and personal accident insurance. The company says DirectAsia.com is its “boldest initiative in Asia to date” given that in Singapore, nearly all personal lines insurance is still sold through agents. The group, which has been headquartered in the city-state since 2006, has […]



June 24, 2010

Price Forbes enters Treaty Reinsurance market

by Gill Montia

Story link: Price Forbes enters Treaty Reinsurance market

Price Forbes & Partners is establishing a Treaty Reinsurance Division. The independent specialist broker expects to have the new unit up and running by 1st October, headed by Paul Bumpstead who has been appointed managing director, reinsurance. Mr Bumpstead has over 40 years’ experience in property and liability reinsurance and will be based in London […]



Resolution to merge AXA acquisition with Friends

by Gill Montia

Story link: Resolution to merge AXA acquisition with Friends

Resolution Ltd’s acquisition of AXA’s UK traditional life and pensions businesses, confirmed today, has raised fears of significant job cuts. According to reports, Resolution expects to achieve cost savings of £75 million over four years by merging the businesses with Friends Provident, which it acquired last year. So far, AXA has announced that 2,200 employees […]



ACE Global Markets opens LA office

by Richard Kilner

Story link: ACE Global Markets opens LA office

ACE Global Markets (AGM), the international specialty insurer, has announced the establishment of a new Los Angeles-based US Political Risk and Credit operation. The office will be led by the new Trade Credit vice president, Ray Tizabi, and will service the West Coast region. Tizabi joins AGM from Pinebridge Investments, leaving behind his post of […]



Crawford & Company name GTS VP

by Richard Kilner

Story link: Crawford & Company name GTS VP

Crawford & Company has announced the appointment of Andries G. Willemse as vice president of Global Technical Services (GTS). Willemse joined Crawford & Company 12 years ago, as a senior adjuster in South Africa managing property, fidelity guarantee, business interruption and rail transportation claims. Three years ago he became VP of quality and compliance in […]