Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 21st of January 2018
June 27, 2011

ABI heads challenge over long-term care

by Gill Montia

Story link: ABI heads challenge over long-term care

The Association of British Insurers (ABI) has joined with health organisations and charities to urge the Government to “grasp the nettle” over care for the elderly. In an open letter to The Daily Telegraph, 10 signatories argue that the UK’s current system of care provision is “complicated, expensive and under-funded”. The letter states: “The uncertainty […]



Actuarial professionals in demand as insurers rush to Solvency II

by Brian Turner

Story link: Actuarial professionals in demand as insurers rush to Solvency II

Actuarial professionals working on Solvency II projects have soared through the £1,000 per day barrier as insurers rush to meet the 31 December 2012 compliance deadline, says ReThink Recruitment, the business and technology staffing company. ReThink says that it has recently been placing actuaries on Solvency II projects on contracts worth £1,100 per day – […]



Homeowners reminded of gardens’ value

by Richard Kilner

Story link: Homeowners reminded of gardens’ value

Summer sees not only the rise in temperatures but increasing value in garden possessions, specialist home insurer Hiscox has revealed. Over a fifth (21%) of homeowners have outdoor items they consider valuable, and more than half (53%) of high net worth individuals will be partaking in landscaping or planting new shrubs and bushes this summer. […]



European insurers back Solvency II delay

by Richard Kilner

Story link: European insurers back Solvency II delay

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, has found that over half (60%) of European insurers who attended its Analytics conference believe that 2014 would be a better starting date for Solvency II. The present start date is 1 January 2013, and 31% of those asked preferred no delay and […]



Ascot announces £50m increase in 2011 capacity

by Gill Montia

Story link: Ascot announces £50m increase in 2011 capacity

Ascot Underwriting has increased its capacity from £600 million to £650 million, in support its 2011 business plan. The Lloyd’s insurer’s chief executive officer, Andrew Brooks, explains: “Market conditions are changing, providing Ascot with opportunities, particularly in the reinsurance sector.” Earlier this month, the firm appointed John Karns as underwriter for its Houston-based US operations. […]



June 25, 2011

Lonmar Global Risks negotiates sale of Liability and Affinity portfolios to Gallagher

by Brian Turner

Story link: Lonmar Global Risks negotiates sale of Liability and Affinity portfolios to Gallagher

Independent Lloyd’s broker, Lonmar Global Risks, has announced that it has successfully negotiated the sale of part of its Liability and Affinity portfolio to Arthur J. Gallagher (UK) Limited (Gallagher). The agreement states that 13 staff will join Gallagher from Lonmar, all of whom have been released early from their contracts for an agreed sum. […]



FSCS appoints three new board members

by Gill Montia

Story link: FSCS appoints three new board members

The Financial Services Compensation Scheme (FSCS) has three new non-executive board members, following the departure of Sandy Kinney, Chris Woodburn and Terry Connor, who had completed their terms. Liz Barclay, Jayne Nickalls and David Weymouth bring with them “a wealth of financial services and consumer experience”. Ms Barclay is a journalist and broadcaster with extensive […]



June 24, 2011

Israel presents insurance opportunities

by Richard Kilner

Story link: Israel presents insurance opportunities

Lord Levene, the chairman of Lloyd’s, has praised Israel as an attractive prospect for insurers. Lord Levene’s comments, made during a visit to Tel Aviv, are borne out by the figures which show steady, consistent growth from an industry worth $3.3bn in 2005 to $4.1bn in 2009. The insurance sector in Israel is led by […]



Naturesave wins Queen’s Award

by Richard Kilner

Story link: Naturesave wins Queen’s Award

Ethical and green insurer Naturesave Insurance has won the Queen’s Award for Enterprise for Sustainable Development. Naturesave, the first insurer ever to win the award, is based in Totnes and Managing Director Matthew Criddle said that the firm was thrilled to be recognised. Criddle added that it did pay to be genuinely green, and said […]



Bupa launches free Health Finder app

by Richard Kilner

Story link: Bupa launches free Health Finder app

International health group Bupa has announced the launch of a new iPhone app enabling people to take advantage of easy access to quality health information. The new ‘Health Finder’ app affords free mobile access to Bupa’s award-winning health factsheets, which cover a broad range of health issues and are viewed by more than 20 million […]



Burglars head for number 88

by Gill Montia

Story link: Burglars head for number 88

While nearly one in four Brits would think twice about buying a house numbered 13, AXA suggests that addresses beginning with 88 are the ones to avoid, having topped the list for burglaries in 2011 and featured in the top ten for two years in a row. According to the insurer’s research, the most unlucky […]



June 23, 2011

Towergate sponsors relaunched Neighbourhood Watch

by Gill Montia

Story link: Towergate sponsors relaunched Neighbourhood Watch

Towergate Insurance has become the primary sponsor of the Neighbourhood and Home Watch Network (England & Wales). The move coincides with a relaunch of the Network’s image in efforts to attract younger members, and the launch of a new website that allows the 173,000 Neighbourhood Watch groups across the country to come together via a […]



Cyber crime underestimated by risk managers

by Richard Kilner

Story link: Cyber crime underestimated by risk managers

The costs of cyber crime are being underestimated by risk managers, according to Miller Insurance Services Limited. Miller conducted a survey of risk managers at the AIRMIC conference, which revealed those surveyed thought loss of customer data the costliest form of cyber crime. However, this costs just £1bn annually, whereas intellectual property theft costs the […]



RSA appoints UK Customer and Brilliant Service Director

by Gill Montia

Story link: RSA appoints UK Customer and Brilliant Service Director

RSA has appointed Mark Wright as UK Customer and Brilliant Service Director. With is unusual title, Mr Wright has responsibility for the development and delivery of “Brilliant” service across the business, reporting to UK customer and human resources director, Vanessa Evans. Having joined the group in 2007 as commercial marketing director, Mr Wright progressed to […]



Cooper Gay confirms CEO appointment

by Gill Montia

Story link: Cooper Gay confirms CEO appointment

Cooper Gay has appointed Shaun Hooper as chief executive officer of Cooper Gay & Co Ltd, the group’s Lloyd’s and London market broker. Mr Hooper took up the role of interim chief executive officer in December 2010 and the permanent appointment is with immediate effect. Having joined the firm in July 2009 as head of […]



Aviva sells RAC for £1bn

by Gill Montia

Story link: Aviva sells RAC for £1bn

Aviva has agreed to sell RAC to Carlyle Group. The UK’s second-largest roadside assistance provider will change hands for £1 billion and the transaction should be completed by the end of the year. Carlyle Group, which is described as a global alternative asset manager, says it will be “fully supportive” of the RAC management team […]



New leadership roles for Cornish Mutual

by Brian Turner

Story link: New leadership roles for Cornish Mutual

With immediate effect, the current Member Services Manager Sharon Plowright takes up the new position of Head of Operations. The firm is also currently in the process of recruiting a new Head of Business Development. As part of Cornish Mutual’s future strategic growth plan, Sharon and the new Head of Business Development will be part […]



June 22, 2011

Canopius establishes UK Retail Insurance division

by Richard Kilner

Story link: Canopius establishes UK Retail Insurance division

Specialist (re) insurance underwriting firm Canopius Group Limited has announced the formation of the new UK Retail Insurance division. The division will be led by Tim Rolfe, who will be directly responsible to Group Chief Underwriting Officer Jim Giordano. Rolfe was appointed as head of UK Retail Strategy in October last year, and has developed […]



Swiss Re announces leadership changes

by Richard Kilner

Story link: Swiss Re announces leadership changes

Swiss Re has announced a number of appointments, in line with the changes to its leadership structure. Stefan Lippe retains his position as chief executive officer of Swiss Re Ltd, with Christian Mumenthaler appointed to be chief executive officer of reinsurance subsidiary Swiss Reinsurance Company Ltd (SRZ). The changes to leadership structure come as the […]



BGL appoints new associate director

by Brian Turner

Story link: BGL appoints new associate director

The BGL Group has appointed Cian Murphy as its new Associate Director for Insurer Development, reporting to Will Price, Director of BGL Group Product Development. Cian will lead the Insurer Development Team, responsible for maintaining and developing relationships with the BGL’s insurance partners. Cian joined the BGL Group in March 2006, initially working within Group […]