Media insurance broking specialists O’Neill and Bramwell PLC have been acquired by Oval Limited (Oval), bolstering Oval’s presence both in the capital and on the national stage. O’Neill and Bramwell specialise in the provision of insurance broking services that cater to the advertising, production and event industries. The firm is a decade old and focuses [...]
The most intelligent and successful motorists on British roads today are white van men, according to new research commissioned by Aviva and conducted by OnePoll. Not only that, but of the 3,000 respondents white van men were the most interested in reading, keeping up with politics and staying in shape. Perhaps unsurprisingly, they were least [...]
European reinsurer Glacier Reinsurance has announced the appointment of Andreas Zdrenyk to the position of chief financial officer and chief operating officer with immediate effect. Zdrenyk replaces founder chief operating officer and chief financial officer Glenn Campbell, who has resigned and will part ways with the firm following the completion of the transition period. Zdrenyk [...]
Following the official submission from LV= to the Treasury consultation on removing the requirement to annuitise by age 75, the firm’s retirement solutions director John Perks has expressed the firm’s support for a more joined up approach in government thinking. Perks explains that LV= backs the aim of providing a brighter but affordable future, but [...]
International specialist insurer Hiscox Ltd has announced that it is to sell its US animal mortality business to Markel Service, Incorporated (Markel). The business operates under the American Live Stock name and offers equine and livestock coverage. It will be transferred to Markel pending regulatory green lights and compliance with the necessary regulatory requirements, with [...]
Guy Carpenter has agreed the sale of its wholly-owned subsidiaries, Reinsurance Solutions LLC and Reinsurance Solutions Limited (RSL). Founded in 1995, RSL provides administration and consulting services to insurers, reinsurers and regulators, through 70 professionals located in offices in the UK and US. The disposals are being made to Randall & Quilter Investment Holdings, a [...]
Provisional Marmalade, the specialist learner driver insurer, has backed the proposal of Road Safety Minister Mike Penning to make the driving test more difficult. Co-founder Nigel Lacy explains that provisional drivers will be tested on navigating whilst driving, and have to do without turn-by-turn instruction in a bid to make the driving test more realistic. [...]
Cornish Mutual is warning that the current high price of lamb could lead to a rise in claims for sheep rustling. Since the beginning of the year, the insurer has dealt with a number of cases linked to stolen animals, one of which involved the theft of eight sheep in the St Ewe area of [...]
The board of specialist non-life insurance investor, service provider and underwriting manager Randall & Quilter has announced that the firm intends to acquire Reinsurance Solutions Limited (RSL) from Guy Carpenter & Company, LLC and Marsh Limited. The acquisition, which is subject to regulatory approval, is worth $10m, to be paid in cash upon completion of [...]
Guy Carpenter & Company’s annual study of the global property catastrophe reinsurance market has revealed that the first half of 2010 has been amongst the costliest on record for the reinsurance industry due to a spate of natural disasters. The World Catastrophe Reinsurance Market 2010 found that prices fell by an average of 6% in [...]
PricewaterhouseCoopers (PwC) is warning that a divide could be emerging within the global reinsurance markets, on whether a fundamental overhaul of reinsurers’ business models is needed, following the financial crisis. New research from the accountancy firm suggests a marked difference between how European reinsurers are responding to the crisis, compared to those based in Bermuda [...]
Amlin has announced the appointment of Miles Taffs as the firm’s new head of Aviation at Amlin London. Taffs has been with Amlin London for the last seven years, having joined in 2003 as a leading class underwriter. He first entered the London Insurance Market in 1986 whilst working for Willis Faber as a broker. [...]
Arc Legal Assistance has been appointed by Aviva to provide household and travel legal expenses to a significant proportion of the insurance giant’s personal lines customers. According to Arc, the deal represents one of the largest contracts of its kind in the UK market, as Aviva currently insures one in five households. The agreement, which [...]
Atradius is warning businesses not to become complacent over insolvency, following last week’s collapse of social housing provider, Connaught. With insolvency figures improving, the trade credit insurer’s head of risk UK and Ireland, Marc Henstridge, sees the demise of Connaught as a cautionary tale. He warns that public spending cuts and other government measures mean [...]
Ireland’s Financial Regulator has fined two Dublin-based insurance firms: Inveralmond Insurance Limited has been handed down a penalty of €26,600 and Creation Insurance Limited fined €26,600. Inveralmond was found to be in breach of the European Communities (Non-Life Insurance) Framework Regulations, which require non-life insurance undertakings to maintain a guarantee fund at certain minimum levels. [...]
Trade credit rates are falling in France, Germany, Italy and the UK, according to Marsh’s latest data for 2010. Furthermore, rates are stable or experiencing minimal increases in Belgium, Denmark, Portugal and The Netherlands, while localised increases are being recorded in Greece, Portugal and Spain. The broker suggests that the cover is also becoming easier [...]
XL Re has announced the appointment of Philippe Rochaix as the new president and chief operating officer of XL Re Latin America Ltd. Rochaix, whose appointment is effective from 1 October, is presently general manager and senior VP of XL Re Europe Limited’s French Branch. During the transition period he will collaborate closely with the [...]
Global risk and reinsurance specialist Guy Carpenter & Company, LLC has announced the appointment of Franck Pinette to the post of chief executive officer of European Life Reinsurance operations. Pinette, whose appointment is effective from 1 December, will be based in Paris and report directly to Nick Frankland, chief executive officer of European Operations. He [...]
