Daily Insurance Industry News
 
 
Daily Insurance Industry News
Friday 19th of January 2018
November 30, 2011

Willis appoints South Africa CEO

by Richard Kilner

Story link: Willis appoints South Africa CEO

Global insurance broker Willis Group Holdings has announced the appointment of Scott Pickering (President, Willis Asia Pacific, Middle East and Africa) to the post of Willis South Africa chief executive officer. Pickering will retain his role as president of the wider area and move to Johannesburg where he will assume his new position in January […]



Towergate appoints Moore to the board

by Richard Kilner

Story link: Towergate appoints Moore to the board

Towergate Insurance has announced the appointment of Philip Moore as an independent non-executive director. Moore will also become chairman of the Audit Committee, and his appointment is subject to the approval of the Financial Services Authority (FSA). The appointment comes shortly after those of Truett Tate and James Strachan, also as independent non-executive directors. Last […]



Second Clear product available via Adrian Flux

by Richard Kilner

Story link: Second Clear product available via Adrian Flux

Allianz Retail has announced that its Clear Private Car product is now available via Adrian Flux, the specialist motor insurance broker. It is the second Clear product available through the specialist broker, and follows the success of the Clear Home product last year. The product is also available through Transactor Global Solutions Limited (TGSL), Adrian […]



XL appoints new insurance chief executive

by Richard Kilner

Story link: XL appoints new insurance chief executive

XL Group plc has announced the appointment of Greg Hendrick to the post of chief executive of the XL insurance segment. Hendrick, who is presently Strategic Growth executive VP, is to succeed Dave Duclos, the present head of insurance, with effect from 1 January 2012. Duclos, who retires on 31 December 2011, will act as […]



November 29, 2011

ABI provides Scots with flood advice

by Richard Kilner

Story link: ABI provides Scots with flood advice

Those affected by flooding following the heavy rain that has afflicted parts of Scotland have been advised to contact their insurer with all haste by the ABI (Association of British Insurers). Director of General Insurance Nick Starling described the flooding as precisely the sort of reason that insurance was designed for. Starling added that insurers […]



LV= welcomes increased free childcare

by Richard Kilner

Story link: LV= welcomes increased free childcare

LV=’s head of protection, Mark Jones, has welcomed the announcement in the Autumn Statement that the Government is to provide 40% of 2 year olds with 15 hours of free childcare a week. According to LV=’s Cost of a Child report the average cost of childcare is £67,430 per child, and adds particular strain to […]



ABI responds to the Autumn Statement

by Richard Kilner

Story link: ABI responds to the Autumn Statement

The Association of British Insurers (ABI) has responded to the Autumn Statement delivered today by Chancellor George Osborne. Director General Otto Thoresen said, in regard to the National Infrastructure Plan, that the bond markets were a huge and untapped source of finance that insurers had long sought to utilise to help bolster growth. Thoresen went […]



FSA: strict new rules on traded life policy investments

by Gill Montia

Story link: FSA: strict new rules on traded life policy investments

The Financial Services Authority (FSA) has published strict new rules on the sale of traded life policy investments (TLPIs) to UK retail investors. The regulator reckons TLPIs are “high risk, toxic products” because investors are effectively betting on when a particular set of US citizens will die. They are also known as “death bonds” because […]



Auto enrolment delayed for SMEs

by Gill Montia

Story link: Auto enrolment delayed for SMEs

The Government has announced changes for small businesses regarding the automatic enrolment timetable and is allowing more time for implementation. Under the revised timeline, SMEs will have to begin automatically enrolling their staff in May 2015, instead of April 2014. In addition, while automatic enrolment will still be rolled out in autumn 2012 the rate […]



November 28, 2011

SME’s prefer cash reserves to insurance

by Gill Montia

Story link: SME’s prefer cash reserves to insurance

Research by AXA UK suggests that the UK’s small and medium-sized enterprises (SMEs) have a lower level of business insurance than similar firms across continental Europe. According to the study, only 39% of Britain’s SMEs currently have business interruption cover in place, while 47% of respondents hadn’t even drawn up a business continuity plan. At […]



AXA appoints advisors on Bluefin sale

by Gill Montia

Story link: AXA appoints advisors on Bluefin sale

In response to recent speculation, AXA UK has announced that it has appointed Fenchurch Advisory Partners to advise on the potential sale of Bluefin Advisory Services (BAS), its employee benefits business. Fenchurch will also consider the prospects for the continued growth of the unit under its existing ownership. The French insurer is also keen to […]



Global warming 2°C target “no longer attainable”

by Gill Montia

Story link: Global warming 2°C target “no longer attainable”

Munich Re reckons hopes of a successful conclusion to the world climate summit, which starts today in Durban, South Africa, are “extremely slim”. Progress may be achieved in the second negotiating track, i.e. adaptation aid for the countries worst hit by climate change. However, after the collapse of negotiations in Copenhagen two years’ ago, global […]



November 27, 2011

LV= appoints senior underwriter

by Gill Montia

Story link: LV= appoints senior underwriter

LV= Broker has hired Anne Francis as a senior underwriter at its Maidstone branch, which covers brokers across the South East and East Anglia. Ms Francis, who has over twenty years’ experience in commercial insurance, has been appointed to build the group’s commercial lines business with a number of key brokers in the region. Before […]



November 25, 2011

Munich Re calls for renewable energy drive

by Richard Kilner

Story link: Munich Re calls for renewable energy drive

Munich Re has called for a new range of initiatives regarding climate change, with reinsurance operations CEO Torsten Jeworrek describing the switch from fossil fuels to renewable energy as the prime task of the century. The firm forecast that the hopes of a successful conclusion to the negotiations in Durban, South Africa, were slim and […]



ACE announces appointment of Green

by Richard Kilner

Story link: ACE announces appointment of Green

ACE European Group has announced the appointment of Duncan Green as leader of the UK and Ireland Accident and Health Business. Green succeeds Alan Stokes, who returns to a regional role after a successful year leading the UK and Ireland business, and will report directly to Senior Vice President for Accident & Health Andy Hollenberg. […]



November 24, 2011

Perkins Slade offers winter advice

by Richard Kilner

Story link: Perkins Slade offers winter advice

As winter approaches, Perkins Slade has offered homeowners some guidance regarding the best way to stave off the worst effects of the cold weather. Almost a third (30%) of people are unaware of where their stopcock is, rendering them helpless should burst pipes occur and increasing the eventual bill. In addition, many people (the elderly […]



ACE wins brace of underwriting awards

by Richard Kilner

Story link: ACE wins brace of underwriting awards

ACE has announced that two of its UK underwriting teams have won Underwriting Service Awards from Post magazine. At the event, held at the Oval, the firm won the Commercial Combined (Larger Risks) Underwriting Team of the Year and Commercial Combined (Smaller Risks) Underwriting Team of the Year awards. The awards are based upon the […]



ABI unveils new health and safety guide

by Richard Kilner

Story link: ABI unveils new health and safety guide

The Association of British Insurers (ABI) has released a new health and safety guide for businesses, to provide them with advice on assessing risk without worrying to an excessive degree. The guide features five principles, such as getting a senior management commitment on health and safety matters, and selecting an individual to be responsible for […]



Junction strengthens leadership team

by Richard Kilner

Story link: Junction strengthens leadership team

Insurance affinity specialist Junction has announced the appointment of Vincent Chaney to the position of eCommerce and Marketing director. In his new role Chaney will be tasked with ensuring that the firm’s partners remain at the cutting edge of the industry due to ongoing technological innovation. He joined Junction two years ago as an associate […]



One in four use savings to maintain lifestyle

by Gill Montia

Story link: One in four use savings to maintain lifestyle

The third “Big Money Index” from AXA highlights a shift towards a more pessimistic financial outlook as the year-end approaches. The study reveals a “deepening gloom” among Britons as they re-tighten their belts, particularly among those nearing or in retirement. Almost one in four respondents said they were using their savings to maintain their lifestyles […]