Barrie & Hibbert will supply its Economic Scenario Generator (ESG) to Discovery Life, one of the fastest-growing life insurers in South Africa. Barrie & Hibbert was chosen above several other providers to supply the model which will become an integral part of Discovery Life’s risk management framework. Discovery Life offers clients a unique range of [...]
Markel International Sweden has announced that it has appointed a pair of underwriters, with Hans Norrby taking up the post of financial lines and professional risks underwriter and Niklas Oscarsson becoming marine hull underwriter. The appointments underline the ambitions of Markel International Sweden to enhance and grow its marine and financial and professional risks offering [...]
BMS has announced that it has appointed Theresa Schugel as an executive vice president with a brief to lead the expansion of the group’s global Specialty Casualty Practice. The Practice provides medical professional liability, lawyers’ professional liability, workers compensation, D&O and other general liability classes. Ms Schugel has spent the last four years heading Aon [...]
Mutual insurance, retirement and investment group LV= has announced that John Edwards has been appointed to the post of non-executive director. Edwards brings more than three decades of experience in the financial services sector to his new role. During the last two decades he has worked for HBOS and Lloyds Banking Group, holding a range [...]
Direct Line has warned those contemplating going without travel insurance during a winter break of the financial risk they are exposing themselves to if the worst happens. More than a million Britons are expected to participate in winter sports this year, and could face bills of £5,000 for a simple fracture to a lower limb, [...]
Global reinsurance intermediary Aon Benfield has announced the appointment of Maggie Westdale as global chief operating officer. Westdale, who retains her present position as chief financial officer, will now be responsible not only for oversight of the firm’s financial results but also Aon Benfield’s global operations. She joined the firm a year ago, prior to [...]
Based in London she will lead the onshore property team in the UK. She will report jointly to Mark Platten, Chief Underwriting Officer, Global Corporate UK and Tom White, Regional Head of Global Energy, Europe. Hala joins Zurich from Liberty Mutual where she worked as Assistant Vice President in its UK Energy Team and operated [...]
Willis has suggested that the surplus capacity in the marine insurance market “defies logic”. According to the broker, insurers are queuing up to enter an already crowded line of business where rates are continuing to fall and there is little profit to be made. However, in its latest review of the marine market Willis explains [...]
According to initial estimates from Swiss Re’s sigma team, worldwide economic losses from natural catastrophes and man-made disasters stood at $222 billion in 2010, more than triple the 2009 figure of $63 billion. Approximately 260,000 people died in severe catastrophes (2009: 15,000) the highest number since 1976, and the cost to the global insurance industry [...]
Following the early incidence of winter weather, and with a prolonged cold snap forecast, independent broker Perkins Slade has offered homeowners tips on how best to safeguard their homes from the wintry weather. Homeowners should check their central heating and ensure the thermostat is working properly, and those with older boilers should consider installing frost [...]
AXA has announced that it has entered into an agreement whereby Australian banking and insurance group, AMP Limited, will acquire 100% of AXA Asia Pacific Holdings (AXA AP), while AXA SA will acquire 100% of AXA AP’s Asian businesses. The transaction involves a Scheme of Arrangement that allows the merger of AMP and AXA APH, [...]
Broker-only insurer MMA Insurance has appointed Caroline Fisher to a newly-created position of Development Manager to cover the South East. Ms Fisher will be responsible for the development of broker relationships in the south of England, working closely with the MMA offices in Chelmsford and Reading. Reporting into UK Business Development Manager, Claire Ephgrave, Caroline [...]
Aviva is warning firms to beware the risks of structural damage caused by persistent and repeated snowfall. Property Risk Manager Alistair Smith recalled last winter, which saw the heaviest and most prolonged snowfall for many years with no melting in between bouts of snowy weather. This meant substantial quantities of snow built up, putting significant [...]
Cooper Gay has restructured its London-based marine and energy reinsurance team as it targets continued growth in market share. Steven Herbert has been made head of LMX, Phil Fox becomes head of UK & Europe and Jim Hamilton-Grant has become head of international, within the marine and energy reinsurance unit. All will report to Andrew [...]
The Association of British Insurers (ABI) has announced the appointment of Jonathan Davis as its new Investment Affairs director. He brings over three decades of experience to the role, and founded private investor specialist website Independent Investor. Davis also writes regularly for national media outlets including the Financial Times and Spectator and is a non-executive [...]
Ascot Underwriting has announced that the renewal rights for Jubilee Managing Agency Limited’s commercial motor account have been acquired by Direct Commercial, which will write the business on behalf of Ascot. The account specialises in niche areas of the market including fleet, taxi, bus and coach insurance, and all existing partnerships with a select panel [...]
Amlin Underwriting has become the first London market insurer to achieve the gold standard of Corporate Chartered Insurer status. Granted by the Privy Council, Chartered status was introduced earlier this year by the Chartered Insurance Institute, following the Aldermanbury Declaration on raising standards within the industry, to which Amlin is also a signatory. It aims [...]
Allianz is launching an international programme to address the threat of a shortage in skilled insurance personnel. Focusing on both the promotion of women and the development of professions where new recruits are likely to be in short supply, the global workforce planning scheme involves analysing how staff numbers will develop within the group’s individual [...]
The Financial Services Authority (FSA) has brought to an end the activities of three companies that offered BSkyB satellite TV customers extended warranties. The Regulator considered their services a form of insurance but none of the firms have ever been authorised by the FSA, which has now obtained a High Court ruling appointing provisional liquidators [...]
