The British Insurance Brokers’ Association (BIBA) has submitted a formal response to HM Treasury’s consultation paper on a new approach to regulation. Based on the comments of a cross-section of BIBA members, the two-part response answered the questions in the consultation paper and provided both quantitative and qualitative comments on the current regulatory regime. Putting [...]
Markel International has acquired bloodstock and livestock renewal rights from Talbot Underwriting. The move is being accompanied by the arrival of Sophie Dunkerley and Alex Colquhoun who will be transferring from Talbot to handle the business. Markel has been providing equine products across the US for more than 40 years and has recently been focused [...]
LV= has welcomed the Government’s decision to abolish contracting out pensions on a defined contribution basis from 6 April 2010. Following an official submission to the Department of Work and Pensions, LV=’s head of pensions, Ray Chinn, has stated the firm’s broad support for the Government’s draft legislation. However, Chinn has raised concerns over a [...]
The BGL Group is amongst the largest mid-market firms in the UK, according to the latest Sunday Times HSBC Top Track 250 league table. The table, which rates companies according to sales based on their latest available audited accounts, showed that BGL Group has risen 17 places to become 80th in the standings. BGL Group [...]
At a recent major power conference held in Istanbul, risk managers highlighted new technologies and environmental responsibility as the areas of greatest concern in the power sector. The Marsh Power Forum considered the power sector in Europe, Middle East and Africa (EMEA), particularly contemplating the best way to mitigate risks in an era of growing [...]
MMA, the broker-only insurer, has announced the appointment of Paul Hodgson to the post of Commercial Underwriting director. Hodgson, who was formerly head of Underwriting at the insurer, assumes the newly created post with immediate effect. The position has been established in response to the rising importance of commercial lines and the firm’s intention to [...]
Global reinsurance intermediary and capital advisor Aon Benfield has announced the appointment of Helen Ye to the post of executive director and head of catastrophe reinsurance in China. She joins Aon Benfield from risk modeler AIR Worldwide Corporation, where she worked for five years, most recently in Tokyo as regional manager of Asia. Ye will [...]
New directors have been appointed to the boards of Brit Insurance Limited and Brit Syndicates Limited. The general insurer has promoted executives currently within the group as follows: Malcolm Beane (Group Chief Operating Officer), Ray Cox (CEO, UK business unit), Jonathan Turner (CEO, Brit Reinsurance and Active Underwriter of Lloyd’s Syndicate 2987) and Matthew Wilson [...]
Beazley plc has announced that on 6th October, it made a bid for Hardy Underwriting Bermuda. The offer of 300p per share has since been rejected but Beazley believes the two companies are “highly compatible”, both having “well-regarded underwriting teams, renowned track records of profitability and a shared objective to develop a diverse speciality insurance [...]
Allianz is reported to be working on a £2 billion bid for the Channel Tunnel Rail Link. The link, which opened in 2003, was the first major new railway to be constructed in the UK for over a century, and the first high-speed railway. It stretches for 109km, from St. Pancras to the Channel Tunnel [...]
Allianz Retail’s Clear Private Car product has launched with Open GI during the latest phase in its roll out. The launch comes as Allianz celebrates passing the £2m gross written premium milestone, and is available to Open GI brokers on a full-cycle EDI basis. Clear Private Car offers all the expected coverage of a motor [...]
Park Insurance, the specialist scheme broker, has signed a five year agreement with Open GI whereby the firm will provide Park Insurance with an increased IT infrastructure and online presence. The deal affects Park Insurance’s Bristol office and trading websites www.parkinsurance.co.uk and www.easy2insure.com, both of which are powered by Open GI’s online eQuote engines. Park [...]
AXA has commissioned research into the geography of motoring behaviour, and found that Swansea is the least respectful city in the country for motorists. At the opposite end of the table is prim and proper Southampton, frequented by the most courteous drivers in the UK. The research involved seven live observation tests to assess motoring [...]
The Association of British Insurers (ABI) has backed Lord Young’s review of health and safety legislation, describing it as a blueprint for a common sense approach to the matter. Director of General Insurance and Health Nick Starling has stated the organisation’s support for the measures included in the report and praised Lord Young for accurately [...]
Britannia Rescue is renewing its sponsorship deal with the British Bobsleigh Association. The agreement, which dates back to November 2009, has been extended for another year and will include sponsorship for: the Bobsleigh World Cup; World Championships; Europa Cup; World Junior Championships and the British Bobsleigh Championships. As title sponsor, Britannia will continue to provide [...]
Bupa has announced that it is selling its UK protection and risk business, Bupa Health Assurance, to consolidator Resolution Ltd, for £165.15 million. The move reflects the group’s intention to focus on its healthcare businesses, including its health insurance products and services in the UK. Bupa Health & Wellbeing manging director, Dr Natalie-Jane Macdonald, comments: [...]
Aon Corporation has announced that it has completed its merger with Hewitt Associates. The group agreed to join forces with the outsourcing firm back in July, in a $4.9 billion cash and shares deal. According to Aon chief executive officer, Greg Case, Aon Hewitt, will provide clients with a “broader portfolio of innovative products and [...]
The Chartered Insurance Institute (CII) has launched an outreach programme for schools. Discover Risk is aimed at year 12 students and uses a board game, based on the CII’s Discover Risk website, to encourage young people to consider career options within the insurance sector. The game, which lasts around 90 minutes, aims to get students [...]
Torus has chosen Guidewire ClaimCenter as its global claims management system for all lines of business. The insurer based its decision on ClaimCenter’s ability to support its complex commercial and specialty lines of business, and its flexibility to manage claims globally. With the new software, the firm expects to increase claims handling efficiencies, improved outcomes [...]
The Board of Beazley plc has announced the sad death of Andrew Beazley, deputy chairman of the firm, yesterday evening. Mr. Beazley was a co-founder of the firm, and just 57 at the time of his passing. He served as chief executive of Beazley plc for 22 years, out of a 24 year history. Director [...]
