Oxygen Holdings plc has announced that it intends to dispose of all of its remaining assets. Chief Executive Nigel Barton said that the move of its London Market teams to Gallagher International in August and the sale of Robertson Taylor announced today are part of the process that will see the firm dispose of its [...]
Oxygen Holdings plc has announced the sale of its subsidiary Robertson Taylor Holdings Ltd to Entertainment Insurance Partners (EIP). The sale, which is subject to the regulatory approval of the FSA, is for an undisclosed sum. Robertson Taylor provides the music industry with specialist broking and services, on the global stage. The subsidiary was acquired [...]
The Financial Services Authority (FSA) has fined John Folan £195,117 for insurance fraud and prohibited him from carrying on regulated financial services activities. The penalty comprises a £70,000 fine and a disgorgement of £125,117 which Mr Folan obtained through commission when working as a director and adviser at Brentwood-based Key Mortgage Associates. Between January 2008 [...]
Almost a third (31%) of UK families are providing financial support to their extended family and friends, according to the latest Aviva Family Finances Report. Loans and gifts are being given to ageing parents, adult children, siblings and close friends, with families paying out £442 a year on average. The most common recipients of financial [...]
South West rural insurance firm Cornish Mutual has hired 14 new full-time members of staff, all of whom are to be based in Truro. The new team members will work in member services, IT, accounts and operations and will be involved in providing the firm’s members with commercial and personal insurance products and services. They [...]
Global specialty insurer Torus has announced the appointment of Brian Byrnes as senior underwriter for General Property, and Marco Sonntag’s appointment as a new senior underwriter for Casualty. The pair are to be based in the Cologne office where they will assume the leadership of General Property and Casualty underwriting in Austria, Germany and Switzerland. [...]
Aon Benfield has updated its UK terrorism catastrophe model, including estimates of the financial loss to life insurers, in a move aimed at helping to satisfy the requirements of Solvency II. The new model simulates attacks on more than 2,000 potential UK targets, including places of worship, financial centres, infrastructure, government and military locations. For [...]
Bike insurance specialist Bennetts has announced the establishment of a new site dedicated to online Classifieds for the biking community, for private sellers and dealers. The site will be linked to Bennetts own website and enable bikers to advertise their wares and browse those of others free of charge. The classifieds site will allow for [...]
Equity Direct Broking Limited (EDBL) has retained its affinity partnership with Nissan Motor (GB) Ltd, following a full tender process involving a number of other UK providers. The decision by Nissan to once again select EBDL sees the firm confirmed as a full affinity partner, and tasked with administration of the branded Nissan Insurance programme [...]
Groupama Insurances has appointed Darren Wills to the new role of corporate claims director. Mr Wills joined the insurer in January 2007 as claims planning & performance manager, moving on to head of claims development in January 2011. Based at the group’s Port Solent offices and reporting to Groupama Insurances managing director, Laurent Matras, he [...]
More than half of British workers (52%) would not be able to sustain themselves financially for more than three months, if they were off work due to ill health. Almost a third (30%) would not be able to last a month, but 9% believed that they would be able to survive for a year or [...]
AXA is warning homeowners about the dangers of burst pipes due to adverse winter weather. The last two winters have both been historically severe, and saw one in every thousand people fall victim to burst pipes, with claims averaging £25,000. ‘Escape of water claims’ have spiked by 50% during the last two winters, putting tens [...]
Specialist loss adjuster QuestGates has strengthened its Property Division with three new appointments, enhancing its ability to meet fresh demand. William McClurg has been appointed to the new role of property services manager, and assumes responsibility for management of the northern property field force as well as a number of management and compliance roles at [...]
Marsh (Isle of Man) Limited has celebrated the milestone achievement of becoming the first Manx insurance broker to acquire ‘Chartered Insurance Broker’ status from the Chartered Insurance Institute (CII). The status is only conferred following a comprehensive assessment of the company in question. Sarah Hewitt, CEO of Marsh (Isle of Man) Limited, stated that the [...]
Zurich Financial Services Group has announced the appointment of Colm J. Holmes as the firm’s new group treasurer. He has worked for the firm for the last decade, after joining it from JP Morgan, and was most recently CEO of the Centrally Managed Business (CMB) and head of Zurich Banking Group. Previously he was CEO [...]
London-market re/insurance broker, THB, has confirmed that AmWINS has formally declared its intent to acquire 100% of the firm’s share capital at 80.55 pence per share. The acquisition will leave THB with its brand identity in tact and should position AmWINS as a leading international specialty insurance distributor, placing more than $6.7 billion in annual [...]
RSA has announced a number of changes to its operating structure and Executive Team, with the Group now split into a quartet of regions: UK & Western Europe; Scandinavia; Canada; and Emerging Markets. The new structure will come into effect from 1 January 2012. Scandinavia Chief Executive Officer Mike Holliday-Williams and Canada Chief Executive Officer [...]
MMA Insurance has announced a quintet of appointments across its regional offices after a very successful 2011 saw the firm achieve a 50% growth in regional bespoke business. Roy Simpson and Scott Elliott join the Manchester office as senior regional underwriter and regional underwriter respectively, and Steven Black becomes regional underwriting assistant in Glasgow. The [...]
Specialist insurer Markel has announced the appointment of Steven Zhang to the post of chief representative of Markel China. He is an industry veteran and brings over two decades of experience to the role, having begun his career in 1990 with PICC. Fourteen years ago Zurich Insurance Company made him the Beijing Representative Office’s chief [...]
