Standard Life to cut 500 jobs

NIG hires Manchester development manager

NIG, the commercial insurer, has announced the appointment of Warren Bainbridge as the new area business development manager (ABDM) for the firm’s office in Manchester. Bainbridge joins the firm from AXA, where he worked for almost two decades, most recently as North West regional director. In his new role with NIG he will assume responsibility [...]

“Toxic” annuity market slammed by NAPF

Millions of private sector workers saving for retirement are stuck with a “hugely unfair” annuity system which cuts up to £1 billion off pension incomes every year. The claim is made in a report from the National Association of Pension Funds (NAPF) and the Pensions Institute at Cass Business School. The report argues that around [...]

Markel reports 2011 results

Markel Corporation has reported its full-year financial results for 2011, including diluted net income per share of $14.60. This is just over half the $27.27 the firm made in 2010, but gross written premiums increased from $709m to $825m. Chairman and Chief Executive Officer Alan I. Kirshner said that the firm’s results were affected by [...]

LMIE announces trio of claims appointments

Liberty Mutual Insurance Europe Limited (LMIE) has announced three senior appointments to bolster its claims operations in London, Madrid and The Hague. Katie MacGregor becomes head of Claims in London, Renske Franken is appointed a claims manager in The Hague and Madrid is joined by new claims manager Ainhoa Tricas Spiteri. MacGregor will lead a [...]

Energy firms must learn from past loss events

Energy companies need to learn from the major loss events of the past if they are to reduce the risk of property damage losses. According to a new report from Marsh, oil and petrochemical companies have heightened the risk profile of the sector by extending their global footprints, building more capital-intensive assets and deploying more [...]