Dutch firm ING has confirmed that it has completed the divestment of its Latin American pensions, life insurance and investment management operations to Colombia’s Grupo de Inversiones Suramericana (Gruposura). The move, which is expected to yield a net gain of €1bn for ING, is the first major step towards the divestment of ING’s insurance and [...]
International specialty property/casualty insurer and reinsurer Catlin Group Limited has announced that Adrian Spieler is to join the firm in February when he will assume the position of group chief administrative officer. Most recently he worked for Swiss Re as chief operating officer for the firm’s Asset Management activities in Zurich, New York, London and [...]
Bupa has announced the appointment of Stuart Fletcher as the firm’s new chief executive, after he joins Bupa on 1 March 2012. Fletcher succeeds Ray King, whose retirement was announced earlier in 2011, and was previously president of Diageo International, where he worked for over a quarter of a century. Lord Leitch, the chairman of [...]
Global insurance broker Willis Group Holdings has announced that its president, Grahame J. Millwater, is to retire from the company. Millwater, who also serves as chairman and chief executive officer of Willis Global, joined Willis in 1985 and was made president of Willis Group three years ago. He is to remain with the firm in [...]
The ABI has warned that many people are missing out on better retirement income by not browsing thoroughly for a better annuity. The organisation has launched a consultation aimed at helping the industry to find new ways to support people making the right choices when they retire. In September the ABI launched a compulsory code [...]
The festive period of Christmas and New Year often sees home contents rise significantly, which can also attract burglars, according to Towergate Insurance. Retail CEO Michael Rea explained that thousands of pounds of gifts tempt thieves at this time of year, and urged homeowners to pay attention not only to locks and security but to [...]
Marsh’s specialist international placement division, Bowring Marsh, has announced that it is to open a new office in Dubai. The new office, which is located in the Dubai International Financial Centre, will help cater to the rising demand for multinational insurance services in the Middle East. It will specialise in property, engineering, casualty, professional indemnity [...]
Price comparison website Tiger.co.uk has unveiled its top 10 tips for winter driving, to help drivers handle the difficult conditions that can occur at this time of year. The website advocates a seasonal check, to ensure that various parts of the vehicles (oil, brakes, lights tyres and so on) are functioning properly. The site also [...]
Liberty Mutual Insurance Europe Limited’s (LMIE) commercial lines division, Liberty Mutual Insurance (LMI), has announced the appointment of Richard Coxon to the post of Commercial Operations chief underwriter. Coxon joined LMIE two years ago to lead its Commercial Property division, and brings over a quarter of a century of experience to his new role. He [...]
White Mountains Insurance Group, Ltd’s reinsurance unit, Sirius International Insurance Group, Ltd, has announced the retirement of Dwight Evans. The retirement of Evans, president and chief executive officer of Sirius America Insurance Company (Sirius America), will be effective from 31 December 2011. Sirius America’s chief operating officer, Dan Wilson, is to become the new president [...]
Standard Life has announced the appointment of Charles Guay as president and chief executive officer of Standard Life Canada. He joins the firm from National Bank of Canada where he was senior vice president (Strategies, Marketing and Investment Solutions, Wealth Management), and president and chief executive officer of National Bank Securities. In addition to this [...]
National insurance broker Bluefin has established a new office located in Atlantic Quay, Glasgow. The new office creates nine new jobs, and increases the firm’s presence in the UK, where it already operates from 50 offices, including those in Bellshill and Edinburgh. Bluefin is part of AXA group, and addresses the coverage needs of businesses, [...]
The Association of British Insurers (ABI) has responded to a consultation by the Financial Ombudsman Service (FOS) by questioning whether the publication of all ombudsman decisions is the best approach. According to the ABI, a small number of consumer complaints can raise broader industry-wide issues. However, the body argues that the individual and unique nature [...]
New research from Royal Bank of Scotland (RBS) has found that nearly one in five technology firms surveyed in the Thames Valley area have suffered a data security breach in the past 12 months. While just over half of respondents had a crisis strategy in place in case of a serious security breach, a quarter [...]
Specialist (re)insurance underwriting firm Canopius Group Limited has announced the appointment of Inga Beale as group chief executive officer. Beale, whose appointment is made with effect from 3 January 2012, will report to Chairman and Chief Executive Michael Watson, who is to become executive chairman. Jim Giordano will retain his position as group chief underwriting [...]
Global insurer RSA has announced that it has appointed Will Bloomer as head of UK Litigation, with effect from 3 January 2012. In his new role Bloomer takes on the oversight of the firm’s litigation management, and is directly responsible to UK General Counsel Neville Howe. Bloomer is presently the general counsel at Gallagher Heath, [...]
Old Mutual is selling Skandia Insurance Company to Swedish Life insurer, Skandia Liv, for £2.1 billion. The divestment comprises Old Mutual’s long-term savings and banking operations in Sweden, Denmark and Norway, operating under the Skandia brand. Proceeds of sale will be used to reduce group debt, with any surplus capital returned to shareholders in due [...]
Systems provider Open GI has announced the appointment of Mike Glassborow as New Business sales executive. During a career of more than 10 years Glassborow has worked for a range of software firms in consultative sales’ positions. At Open GI he will join 11 account managers and work with them to discover new clients and [...]
Willis has launched WillPLACE, an online tool that helps match its clients’ insurance needs with the most appropriate insurers. The new facility allows the broker’s placement professionals to gather data about insurers’ risk appetites around the world and, with the help of a proprietary matching algorithm, make comparisons with clients’ specific risks. Using the new [...]
The National Association of Pension Funds (NAPF) has commented on the FTSE Group’s decision to increase the minimum free float threshold for UK incorporated companies to 25% of a company’s equity. According to NAPF’s head of corporate governance, David Paterson, the move is a step in the right direction but it doesn’t go far enough. [...]
