The Association of Personal Injury Lawyers (APIL) has responded to Justice Secretary Kenneth Clarke’s introduction of a green paper on civil litigation costs by saying that proposals to restrict “no win, no fee” will “hit the weakest the hardest”. The key proposal is to abolish recoverability of success fees and associated costs in “no win, [...]
Australian banking and insurance group, AMP, has submitted a proposal for a merger with AXA Asia Pacific Holdings (AXA AP), via a scheme of arrangement. The move would see AMP merge the Australian and New Zealand businesses of AXA AP with its own operations, while AXA AP’s parent company, AXA SA, would acquire 100% of [...]
Groupama Insurances has announced the appointment of Julian Abson to the post of development underwriter for the Personal Lines motor account. Abson joins the firm from AXA where he spent a decade, most recently as assistant product manager, and will report directly to Andrew Fletcher, head of Motor. In his new role with Groupama he [...]
Beazley has announced that Ken Sroka, formerly head of product development at Zurich Financial Services, has been appointed to the board of Beazley plc, with effect from 12th November. Mr Sroka has extensive experience of the US property/casualty insurance market, having created and directed Zurich’s financial lines business in North America during the 1990s. More [...]
Beazley has reported a 2% rise in premiums in the nine months ended 30th September 2010, compared with a year earlier, to $1.35 billion. The “modest” increase was driven by growth in the group’s reinsurance and life, accident and health accounts. Premium rates on renewal business decreased by 2% during the period and the Lloyd’s [...]
Amlin has reported a “mixed” trading environment in the third quarter of 2010, with downward pressure on premium rates persisting in many areas. However, the group’s gross written premium was up 39.4% for the ten months ended 31st October 2010, compared with a year earlier, to £1.92 billion. ACI represented £384.9 million of the £1.37 [...]
Beazley has confirmed that it has submitted a revised bid for Hardy Underwriting Bermuda, which has been rejected. The Lloyd’s insurer made its first approach in October, with an offer of 300 pence per share which has since been increased to 330 pence per share in cash, funded from Beazley’s existing internal resources. However, the [...]
MGA Manchester Underwriting has announced that Danny French has been appointed as a director for the broker-only business, subject to FSA approval. The role has been newly created as part of the firm’s strategic plan to develop its commercial lines offering. French, who will report directly to Chief Executive Officer Charles Manchester, was previously development [...]
Global healthcare, medical assistance, and security services company International SOS has signed an agreement with the People’s Insurance Company (Group) of China Ltd (PICC), whereby International SOS will furnish the 16th Asian Games (XVI Asiad) scheduled for Guangzhou and and co-hosted in Dongguan, Foshan and Shanwei with emergency medical services. The service will cover all [...]
Willis Group has appointed two regional managing directors at Willis Networks, which works with local independent brokers in the UK. Mike Rush, who will be based in Preston, will be responsible for Willis Networks in Scotland, Northern England and Northern Ireland, while London-based Simon Taylor will look after Central and Southern England and Wales. Both [...]
Groupama Insurances has created a dedicated business underwriting team for London and the South. Three underwriters have been appointed: Therese Crowhurst, Steve Scrimgeour and Darren Carter, and all are reporting to Dawn Dillaway, the group’s head of commercial underwriting. Therese Crowhurst and Steve Scrimgeour will focus on non-motor SME commercial business, having worked for Groupama [...]
Higos Insurance Services has announced that it is opening a new flagship branch in Water Lane, Totton, Southampton, staffed by employees from the Portswood branch. The move comes as part of the firm’s expansion in the South and South-West of England, and is the firm’s fifteenth office in the region. Managing Director Ian Gosden explained [...]
Aviva has advised homeowners to take precautions to safeguard against the gales forecast at the end of this week. The insurer has a network of contractors, claims teams and call centre staff ready to assist those who are affected by weather-related damage in the next few days. Property Claims Director Rob Townend explained that storms [...]
Global risk and reinsurance specialist Guy Carpenter & Company, LLC has been named the Reinsurance Broker of the Year at the 14th Asia Insurance Industry Awards jointly organised by Asia Insurance Review and The Review Worldwide Reinsurance magazines. The award success is the third consecutive occasion Guy Carpenter has been named Reinsurance Broker of the [...]
AEGON NV has reported a rise in both underlying earnings and net income during the third quarter of 2010. The group’s underlying earnings before tax increased by 21% compared to a year earlier, to €473 million, with net income rising to €657 million. New life sales were up 7%, to €527 million (driven by increased [...]
Professional services company, Towers Watson, has agreed to acquire the worldwide operations of EMB, the actuarial consultancy and software provider. The transaction is expected to complete over the next 60 to 90 days, subject to customary closing conditions, including regulatory approvals. EMB, which was founded in the UK in 1993, is best known as an [...]
ING Group is proposing to sell its insurance operations and is planning two Initial Public Offerings of the business: one Europe-led and one US-focused IPO. The Dutch financial group has therefore announced a number of changes in the structure and composition of it management boards for insurance and banking, in line with its strategy of [...]
Beazley has doubled the number of people eligible for notification and credit monitoring protection under its data breach policy, Beazley Breach Response. Up to four million people affected by a breach can now benefit from the services provided under the policy. Breach Response was launched in July 2009 and has since seen strong demand from [...]
Homeowners are being advised to take measures to reduce the risk of damage from winter weather. Legal & General has stated that over 60,000 insurance claims worth more than £194m were made last year, but that this could be reduced by homeowners themselves. When leaving home for a time, many turn off the heating to [...]
Hiscox has urged homeowners to take a number of practical steps to help safeguard their properties before forecast heavy rain and potential flooding arrives. London and the South East of England have been given a number of severe or extreme weather warnings by the Met Office. Hiscox home insurance expert Austyn Tusler warned that heavy [...]
