The UK saw the highest number of product recalls ever during the year to 31st October 2010, according to research from Reynolds Porter Chamberlain LLP (RPC). The City law firm recorded a 12% rise on the previous 12 month period, to 229, with the increase fuelled by a 40% leap in recalls of pharmaceutical and [...]
Allianz Commercial has announced that the Chartered Insurance Institute (CII) has granted it the title of Chartered Insurer, an honour granted to firms in recognition of their commitment to ethical and professional conduct. Allianz Commercial is one of the first firms in the UK to be given the title, which was awarded due to the [...]
Fortis Life has changed its name to Ageas Protect in the UK, from today. The move follows the adoption of the Ageas name by Fortis’ general insurance business, following the disposal of the group’s banking assets, in 2009. The new name and Ageas logo will now be used to promote the company’s protection proposition, with [...]
PowerPlace has announced that Aviva is joining its panel of insurers, with the group launching its property owners’ policy at the online marketplace early this year. The firm’s chief executive officer, Matthew Reed, considers the news a milestone in PowerPlace’s development, commenting: “With Aviva on board, we have taken a significant step closer towards offering [...]
Activity grew strongly in the UK financial services sector for the second quarter in a row, a new survey reveals today. However, in the three months to December 2010 profitability did not increase as fast as expected, growing at the slowest pace for 18 months, and numbers employed in the sector fell at the fastest [...]
The Financial Reporting Council (FRC) wants company reports to include clear explanations of how directors identify and manage risk, and of “what keeps them awake at night”. In a set of recommendations aimed at improving the “dialogue” between company boards and their shareholders, the body proposes that annual reports and accounts should be “balanced and [...]
Ageas UK has announced a string of appointments aimed at supporting the growth of its retail operations: Kwik Fit Financial Services, RIAS and Ageas Insurance Solutions. Brendan Devine, previously managing director of Kwik Fit Financial Services, has been appointed to the new role of retail commercial director and will be responsible for retail commercial development, [...]
Groupama Insurances has announced the hiring of Marc Yeates, the counter fraud expert, to occupy the role of Counter Fraud Claims adviser. Yeates previously worked for the Insurance Fraud Bureau as a case researcher and analyst and will now report directly to Counter Fraud Manager Andy Pagett. He will join the Claims Validation Team and [...]
ACE has announced the appointment of Phil Skelton as head of Transportation Risk Management for the firm’s Overseas General operations. In his new role Skelton will be tasked with co-ordinating the highest level of risk management services to clients and brokers throughout Europe, Middle East, Asia Pacific and Latin America. Skelton will also provide support [...]
Specialist (re)insurance underwriter Canopius Group Limited has announced its plans to expand internationally with the establishment of Canopius Europe, a reinsurance underwriting platform. The new venture will be based in Zurich and will initially be dedicated to European treaty reinsurance business, underwriting on behalf of Canopius Group’s Lloyd’s Syndicate 4444 (pending requisite consents). Canopius Europe [...]
Claims management group, Crawford & Company, has appointed Ian Baxter as regional director, GTS – Asia Pacific. Mr Baxter, who will be based in Singapore, has over 30 years of experience as a qualified loss adjuster and claims professional in a wide range of industries, including construction, hotels, department stores, office buildings and manufacturing. He [...]
Ironshore Inc. has announced the establishment of Ironshore Europe Limited, which is to be domiciled in Ireland’s capital city, Dublin. The new insurer will be led by the newly appointed chief executive officer, Fiona Marry, who will report directly to Ironshore Europe Limited Board (chaired by Mark Wheeler who also serves as CEO of Ironshore [...]
Marsh has announced the appointment of Alan Morton to the posts of senior claims advocate within the International Division, and Property Claims Practice group leader (UK and International). Morton leaves behind Aon Global Risk Consulting to join Marsh, and brings almost three decades of claims experience to the firm. Before joining Aon he spent 23 [...]
Admiral has sold AdmiralDirekt, the group’s car insurance operation in Germany, to Itzehoer Versicherung, for £4.4 million. The company says it remains focused on continuing the profitable growth of its UK operations and on building businesses in Spain, Italy, the US and France. Insurance contracts generated by AdmiralDirekt and underwritten by the group in 2011 [...]
Insurance lawyers, Beachcroft LLP, is opening an office in Singapore, adding to the firm’s international presence in Brussels, Dublin and Auckland, plus a joint venture in India. London partner, Ben Nicholson, will relocate early this year to establish the practice. According to senior partner, Simon Hodson, building a presence in Singapore is in line with [...]
Cunningham Lindsey has acquired the US loss adjusting business of GAB Robins North America, Inc. The move further secures the group’s position in the US, expanding its operations by over 380 staff and 100 office locations, while at the same time raising the company’s profile in the commercial loss adjusting market. According to Cunningham Lindsey, [...]
Nearly three quarters (74%) of insurers are confident they will meet the 2013 deadline for implementing Solvency II, despite more than 40% being in the preparatory stages of their projects, or yet to launch them. According to a recent PricewaterhouseCoopers (PWC) survey of 115 insurers in 22 countries, of those that have made a start, [...]
