Legal & General has raised medical evidence limits in efforts to reduce processing times. The changes mean that more underwriting decisions will be made at the point of sale, allowing more customers get confirmation of cover quickly. For life cover up to age 35 next birthday L&G has increased the automatic medical evidence limit to [...]
Chartis Insurance Company China has obtained the approval of the China Insurance Regulatory Commission to establish a branch in Jiangsu province, in the city of Nanjing. The group says the approval represents a milestone in its expansion in China, allowing it to remain a leading foreign property & casualty insurer in the country. Located on [...]
Towergate has announced that, subject to regulatory approval, Mark Hodges, currently executive director and UK chief executive officer of Aviva plc, will succeed the group’s retiring group chief executive officer, Andy Homer, on 1st October 2011. Mr Homer will remain on the Towergate board as a non-executive director. Commenting on the appointment, Towergate chairman, Alastair [...]
Aviva has appointed Trevor Matthews as its UK chief executive officer, replacing Mark Hodges who has today resigned to join Towergate Insurance, as group chief executive. Mr Matthews is currently vice chairman of Friends Life and was previously chief executive officer of Friends Provident Holdings. Amongst other senior positions, he was also chief executive of [...]
The Foreign Office is urging Britons to reassess their priorities when visiting friends and family overseas, as for some, carrying teabags to far off places seems to take priority over taking out travel insurance. Over 12 million British nationals are thought to be planning to visit friends and family abroad this year and new research [...]
Ironshore Inc. has announced that Dublin-based Ironshore Europe Limited has received the green light from the Central Bank of Ireland to open a branch office in London. Paul Betts has been appointed to lead the initiative as London branch manager, and will report directly to Ironshore Europe Limited CEO Fiona Marry. Betts brings decades of [...]
Aviva is reminding music festival fans that a tent in not the only cover they require. Nearly half of all Britons have attended the summer festivals at some time or other, and of these 14% have lost belongings or had them stolen, according to the insurer’s research. With many festival-goers taking expensive personal items such [...]
The aerospace sector weathered the global financial crisis relatively well, but confidence is still in short supply, according to an update from Aon Risk Solutions. With passenger and revenue forecasts still relatively conservative, the firm’s 2011 Aerospace Insurance Market Outlook describes a soft market, driven by changing insurance strategies, falling exposure and the industry’s evolving [...]
Miller has announced the appointment of Samantha Bain to bolsters its offering to major UK and European corporate clients. Her appointment is a reflection of the ongoing success Miller has enjoyed in this area, according to Ken MacDonald. MacDonald went on to say that the firm had seen great success in its first year and [...]
Marsh has formed a global power practice which the broker says will better assist clients in managing risks associated with infrastructure projects in both emerging and developed economies. Singapore-based Philippe Du Four, leader of the power and utility sector of Marsh’s infrastructure practice in Asia, becomes chairman of the new practice, in addition to his [...]
The decision by the Legal Services Board (LSB) against an outright ban on referral fees in favour of increased transparency has been lambasted by Groupama Insurances. Groupama Chief Executive Officer François-Xavier Boisseau described the decision as very disappointing and indicative of the lobbying strength of those who support referral fees. Boisseau went on to say [...]
Aon has appointed Valentin Tuca as chief executive officer of its insurance broking operations in Romania, replacing Karina Rosu, who departed Aon Romania last month. Mr Tuca joins with more than 15 years of experience in Romania’s broking industry, having worked for an insurance broker for more than 10 years and later formed his own [...]
Brit Insurance has opened a Lloyd’s service company in Sydney, Australia, in a move that will allow Brit Insurance Services Australia Limited to transact property treaty reinsurance business locally, with effect from 1st July 2011. The new unit will act as the gateway for all property treaty reinsurance business emanating from Australia and New Zealand. [...]
AXA has agreed to sell its Canadian operations in property & casualty and life & savings insurance, to Intact Financial Corporation. The disposal is being made for around €1.9 billion and the transaction should generate an exceptional capital gain of approximately €0.9 billion, which will be accounted for in net income. In addition, AXA is [...]
Swiss Re is acquiring around 300,000 policies and £1.6 billion in assets from American Life Insurance Company. The transaction involves the reinsurer’s Admin Re unit, which acquires closed blocks of in-force life and health insurance business, either through reinsurance or corporate acquisition, and assumes responsibility for administering the underlying policies. The group says the move [...]
Keelan Westall says it has reactivated almost 100 dormant broker accounts as a result of its “Win Back” campaign and having improved and broadened its proposition for the let residential market. The campaign focused on brokers who had not placed business with the Hampshire-based company for six months or more and the success represents approximately [...]
