Global risk and reinsurance specialist Guy Carpenter & Company, LLC has announced the appointment of Bill Kennedy as the new global chief executive officer of Analytics, Capital Markets, Specialty Practices and Advisory. Prior to joining Guy Carpenter he worked for Century Atlantic Capital Management, LP as president and chief investment officer, having founded the firm [...]
Assurex Global, the independent insurance broker network, has added two new members in the UK. Liverpool-based Griffiths & Armour and London-based Miller Insurance Services are accompanied by Associated Insurance Consultants of the United Arab Emirates. The three join the 103 independent brokers around the globe that have been selected by Assurex Global on the basis [...]
Capita Managing Agency (CMA), part of Capita Group, has received approval from Lloyd’s to manage live syndicates. In addition, the firm has been approved to manage a new syndicate that will commence underwriting on June 30th 2010, targeting key territories such as countries in Latin America and the Asia Pacific region. Syndicate 2232 will be [...]
Aviva has made a number of changes to its Professional Office policy so as to better meet the needs of the professional services sector. The revamp involves new benefits and the inclusion of certain business interruption features as standard; for example loss of revenue due to damage to a nearby property that prevents customers accessing [...]
Having studied 10-years’ worth of data, Aviva has come up with a portrait of Mr and Mrs home insurance customer. The Smiths live in The Cottage on High Street with two cars in the drive, one of which is a Ford Fiesta. Their most popular holiday destination is Spain but when at home they can [...]
Marsh has responded to the steeply rising demand for specialist insolvency insurance with the establishment of a new practice dedicated to the provision of expert risk and insurance advice for UK-based insolvency practitioners. Simon Dodd will lead the Insolvency Practice, and brings the experience of having formerly worked for Willis as national insolvency director. During [...]
A number of staff from leading software house Open GI are aiming to raise funds for Midlands Air Ambulance. The employees have set themselves a target of £5,000 for this year, all of which will help Midlands Air Ambulance maintain three of its helicopters in service. If the employee-led effort achieves its goal the Open [...]
LV= is launching a poster staff recruitment campaign that features the insurer’s existing staff and utilises image-recognition technology. Job hunters coming across the adverts on bill boards, in bus shelters and in taxis are invited choose the LV= call handler they would like to speak to, by taking a photo of the ad and texting [...]
Bermuda-based specialty provider of property and casualty insurance and reinsurance Endurance Specialty Holdings Ltd. has announced that Michael P. Fujii, the Insurance Operations chief executive officer, is to retire from the firm. Fujii joined Endurance six years ago, and spearheaded the creation and growth of its insurance business in the US. Fujii explained that he [...]
Bluefin is acquiring Gilbert Business Insurance Brokers (GBIB). The St Albans-based intermediary has been a member of Bluefin’s network since 2008 and places £2.5 million in premiums annually. The firm will eventually relocate to Bluefin’s Milton Keynes office, with integration taking place over the next twelve months. GBIB founder Geoff Gilbert comments: “We are a [...]
Chubb Insurance Company of Europe has received approval from the Lloyd’s Franchise Board to establish a new Syndicate that will honour the group’s foundation date. Chubb 1882 will commence underwriting from 14th June for business incepting from 1st July 2010 and with a capacity of £41.5 million for the remainder of the year. It will [...]
Niraj Shah has been named by Groupama Insurances as the firm’s new chief actuary. Shah brings with him a decade and a half of experience in the financial sector, including six years in the actuarial sphere. Prior to his appointment he played a key role in preparations for the incoming Solvency II regulations, leading Groupama’s [...]
Beazley has announced that it has appointed Dan Jones to lead the firm’s strategic broker relations program. Jones is stepping down from Beazley’s board to join its executive committee, and in his new role will be tasked with enhancing relationships with key business producers around the world. He had been a non-executive director of the [...]
Prudential has abandoned its plans to acquire AIA, the BBC has reported. The group agreed to acquire the pan-Asian life insurance subsidiary of US insurer AIG in March, for £24.6 billion, but leading Pru shareholders were unhappy with the price and efforts to renegotiate failed. Yesterday, AIG announced that would only adhere to the original [...]
The 2010 hurricane season could prove the equal of 2005, which saw 28 named storms, according to top forecasters. Lloyds have stated that in 2005 major hurricanes Katrina, Rita and Wilma left insurers and reinsurers reeling from a financial hit exceeding $60bn. The National Oceanic and Atmospheric Administration (NOAA) is forecasting a 70% chance that [...]
AXA Insurance has commissioned research which shows that numerous British motorists are likely to fall foul of the law in Europe this summer. With the volcanic ash cloud and industrial strife affecting flights, many Britons are opting to drive into Europe for their holidays. Unfortunately, there is a widespread lack of knowledge about the rules [...]
Gen Re Group’s chief executive officer, Tad Montross, has announced that the firm is changing the name of its German company from Cologne Re to General Reinsurance AG, effective from 1 July 2010. The change is a purely cosmetic one, and does not involve any alteration to business methodology, management or the legal entity of [...]
Capita Group has acquired medical reporting and screening specialist, Premier Medical, for a cash consideration of £60 million on a cash-free, debt-free basis. According to the outsourcing giant, the move adds “depth and breadth of expertise” to its existing services for the health market, which include running the NHS Choices programme and the health informatics [...]
American International Group (AIG) is refusing to budge on its original sale price for AIA Group. Prudential agreed to acquire the pan-Asian life insurance subsidiary in March, for over £24 billion in cash and shares. AIA traces its roots in the Asia Pacific region back more than 90 years and currently operates across 15 geographical [...]
Aviva has joined forces with Bureau Veritas to launch a thermal imaging survey service that can detect loose or corroded connections in machinery. The technology identifies “hot spots” in wiring which if undetected can lead to overheating and potentially a serious fire hazard. Additionally, the service can be utilised to identify burst pipes, check seals [...]
