Daily Insurance Industry News
 
 
Daily Insurance Industry News
Monday 23rd of April 2018
November 24, 2011

Willis Networks awarded Chartered status

by Gill Montia

Story link: Willis Networks awarded Chartered status

The Willis Networks team has been awarded Chartered Insurance Broker status by the Chartered Insurance Institute (CII). The team, which manages Willis Commercial Network and Willis N², is the first broker network team in the UK to achieve the accolade, having met the CII’s rigorous criteria. These include working in an ethical manner and placing […]



Aviva’s Sir Nick appointed FOS chairman

by Gill Montia

Story link: Aviva’s Sir Nick appointed FOS chairman

The Financial Services Authority (FSA) has appointed Sir Nicholas Montagu as the new chairman of the Financial Ombudsman Service (FOS). He will succeed Sir Christopher Kelly who steps down in January 2012, after seven years in the role. Sir Nicholas is currently the chairman of the Aviva UK Life With-Profits Committee and a director of […]



November 23, 2011

XL bolsters Birmingham underwriting team

by Richard Kilner

Story link: XL bolsters Birmingham underwriting team

XL Group plc has announced the appointment of Robert Dawes as a new property and casualty underwriter in the regional Birmingham office. Dawes has been appointed to the post of Property/Casualty Package Underwriter, Middle Markets, Midlands to help bolster the firm’s presence in the region. He brings extensive experience to his new role, having worked […]



Telematics encourage safer driving

by Richard Kilner

Story link: Telematics encourage safer driving

Britain’s young drivers are being encouraged to drive more safely thanks to the introduction of telematics technology, according to The Co-operative Insurance. More than a third (35%) of drivers are driving in an ‘excellent’ way, with a small proportion (5%) guilty of ‘poor’ driving. The Young Driver scheme was launched earlier this year and measures […]



Aviva launches “Magic Money” social media campaign

by Gill Montia

Story link: Aviva launches “Magic Money” social media campaign

Aviva has launched a social media campaign aimed at making younger workers more aware of the importance of making the most of their hard-earned cash. In a series of film clips shot in the bars of Brighton and London, magician Pete Hathway uses magic tricks with money as the central theme to bring home the […]



Willis Re Bolsters Canadian board

by Gill Montia

Story link: Willis Re Bolsters Canadian board

Willis Re has appointed Jim Bradshaw as chairman of the Willis Re Canada board, in addition to his role of chief executive officer, Willis Re North America. Mr Bradshaw replaces Steve Hearn, chief executive officer of Willis Re. To enhance further connectivity between Willis Re Canada and the group’s wider operations, Warren Neale, the London-based […]



November 22, 2011

ABI calls for tougher young driver measures

by Richard Kilner

Story link: ABI calls for tougher young driver measures

The Association of British Insurers (ABI) have said that need to reduce injuries and deaths amongst young drivers is one of five key priorities for the motor insurance sector. Director General Otto Thoresen said that cutting young driver deaths was vital, particularly as the young make up a disproportionate number of road casualties. Thoresen went […]



Directors’ pay corrodes UK economy

by Gill Montia

Story link: Directors’ pay corrodes UK economy

The High Pay Commission has issued a report on the “corrosive” effects of directors’ pay on the UK economy, as the country enters “times of unparalleled austerity”. The Commission, which was established last year with the support of the Joseph Rowntree Trust, has concluded that the growing division between the top 0.1% of UK earners […]



UK severs financial relationship with Iran

by Gill Montia

Story link: UK severs financial relationship with Iran

The UK has severed its financial relationship with Iran. In a statement yesterday, HM Treasury said: “From 15:00 on Monday 21st November 2011, all UK credit and financial institutions are required to cease business relationships and transactions with all Iranian banks, including the Central Bank of Iran, and their branches and subsidiaries.” This is the […]



November 21, 2011

RSA CFO resigns to join Lloyds

by Richard Kilner

Story link: RSA CFO resigns to join Lloyds

RSA plc has announced that George Culmer has resigned in order to become the new group finance director of Lloyds Banking Group plc. The leaving date has yet to be decided upon, and until then Culmer will retain his positions as a director and chief financial officer of RSA. RSA Chief Executive Officer Simon Lee […]



Allianz reports rising operating profits

by Richard Kilner

Story link: Allianz reports rising operating profits

Allianz UK has reported its financial results for the first nine months of the year, including a rise in gross written premiums of 10.2% to £1374.7m. The operating profit in the 9M period rose by 3.8% to £123.6m, and the firm’s Combined Ratio was 95.8% at the end of Q3. The Commercial Division saw gross […]



Catlin and China Re announce strategic deal

by Richard Kilner

Story link: Catlin and China Re announce strategic deal

International specialty property/casualty insurer and reinsurer Catlin Group Limited has announced that it has formed a strategic partnership with China Reinsurance (Group) Corporation (China Re). The announcement means that a new special purpose syndicate will be set up at Lloyd’s of London, and the quota-share reinsurance underwritten by Syndicate 2088 will enable Catlin to increase […]



Phoenix Group confirms CVC approach

by Gill Montia

Story link: Phoenix Group confirms CVC approach

Phoenix Group has confirmed that discussions with Resolution Limited concerning a possible merger have now terminated. However, the closed life fund consolidator says it has also received certain other approaches concerning potential offers, including one from CVC Capital Partners. Commenting on the approaches, Phoenix chairman, Ron Sandler, says: “The Board believes that Phoenix is in […]



UK drivers Europe’s “bad Samaritans”

by Gill Montia

Story link: UK drivers Europe’s “bad Samaritans”

UK drivers are the least likely among European neighbours to help fellow motorists in distress, an AXA survey has found. The French insurer has labeled Britain a nation of “bad Samaritans” because just 6% of Brits questioned said they would always stop and ask a motorist who has broken down if they need help. In […]



November 20, 2011

Willis appoints global analytics CEO

by Gill Montia

Story link: Willis appoints global analytics CEO

Willis has appointed Rowan Douglas as chief executive officer of global analytics. Based in the UK and reporting to group president, Grahame Millwater, Mr Douglas moves from CEO global analytics at Willis Re. In his new role he will oversee all analytics-related activities and expenditures across the group, including the Willis Research Network. The broker […]



Annual car vandalism bill heads for £1bn

by Gill Montia

Story link: Annual car vandalism bill heads for £1bn

Vandals have caused £953 million worth of damage to British cars in the past year, with one in five drivers affected, according to research from LV=. More than half of all drivers have been a victim of car vandalism at some point and a quarter have had their vehicle defaced twice, while one in 10 […]



November 18, 2011

Jelf to boost South East profile with new hire

by Richard Kilner

Story link: Jelf to boost South East profile with new hire

Jelf Insurance Brokers have announced the appointment of Lee Gwilliam to the post of business development executive. Gwilliam’s appointment is made with a view to enhancing the firm’s profile in the South East, and he is to be based in the Guildford office. In his new role he assumes responsibility for business growth and service […]



Higos encourages use of D&O insurance

by Richard Kilner

Story link: Higos encourages use of D&O insurance

Managers and company directors have been urged by Higos Insurance Services to ensure that they have appropriate professional insurance so that their personal responsibilities and liabilities are covered. The responsibilities of senior staff members were recently highlighted by the arrest of the Gleision Colliery Pit Manager, on suspicion of gross negligence manslaughter. Higos Insurance Services […]



Aviva launches $400m US offering

by Gill Montia

Story link: Aviva launches $400m US offering

Aviva is bolstering its capital position with a public offering of $400 million of 8.25% Capital Securities (notes) in the US market. The notes pay interest quarterly and have a maturity of 1st December 2041. Merrill Lynch, Pierce, Fenner & Smith, Morgan Stanley and Wells Fargo Securities are joint book-runners. In September, Aviva completed the […]



November 17, 2011

ACE makes corporate risks appointment

by Gill Montia

Story link: ACE makes corporate risks appointment

ACE has appointed Carolyn Hamilton to the newly-created role of regional development manager for corporate risks. Ms Hamilton takes up the post on 5th December, moving from UK regions manager at Chubb Insurance and having previously worked for Independent Insurance and General Accident. A significant part of the job involves working with ACE’s regional branch […]