Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 22nd of May 2018
December 14, 2011

Motorists warned against drink driving

by Richard Kilner

Story link: Motorists warned against drink driving

Car insurance comparison site Tiger.co.uk has found that drink driving deaths suffer a spike during January, due to the high number of parties for Christmas and New Year and a corresponding police crackdown. The website also warns that the popular myth of being able to know how close to the limit you are is actually […]



ABI offers advice to survive the theftive season

by Richard Kilner

Story link: ABI offers advice to survive the theftive season

The Association of British Insurers (ABI) has dubbed the theft prone festive season the ‘theftive season’, as criminals target easy pickings during Christmas and the New Year. More than 10,000 burglary claims were handled by insurers over last Christmas with payouts totalling £15m. Many such cases involved the homeowners being away, on holiday or visiting […]



OFT launches private motor market study

by Gill Montia

Story link: OFT launches private motor market study

The Office of Fair Trading (OFT) has launched a market study into private motor insurance that will focus on the provision of third party vehicle repairs and credit hire replacement vehicles. UK private motor premiums have risen by around 12% between 2009 and 2010, and by a further 9% in the first three quarters of […]



Aviva takes advantage of tablet technology

by Richard Kilner

Story link: Aviva takes advantage of tablet technology

Aviva Risk Management Solutions has begun the pilot of a new digitisation programme designed to streamline its risk assessment processes. An industry first, the SOLAR PlayBook project sees the firm’s risk assessment team replace pen and paper assessment processes with Blackberry PlayBooks that have been pre-loaded with a tailored risk assessment application. The programme was […]



Marsh appoints Fenwick to lead Norwich office

by Richard Kilner

Story link: Marsh appoints Fenwick to lead Norwich office

Marsh has announced that it has appointed Keith Fenwick to lead the firm’s office in Norwich, Marsh’s largest UK office outside of London. Fenwick is an industry veteran, and has worked in the insurance sector for more than three and a half decades. Prior to joining Marsh he worked for JLT Re for five years […]



IntelliFlo integrates with Standard Life Wrap

by Gill Montia

Story link: IntelliFlo integrates with Standard Life Wrap

IntelliFlo has announced plans for a comprehensive integration with Standard Life’s Wrap Platform. The web-based management solutions provider is embarking on £10 million investment programme that will, among other things, enable users to automatically value Standard Life wrap accounts. Once the wrap account has been set up on the platform, IntelliFlo’s Intelligent Office will be […]



December 13, 2011

Navigators appoints new CFO

by Richard Kilner

Story link: Navigators appoints new CFO

The Navigators Group, Inc. has announced the promotion of Ciro M. DeFalco to senior vice president and chief financial officer. DeFalco has served in the capacity of interim chief financial officer since 31 October after the retirement of Francis W. McDonnell. He joined the firm in September, having previously worked for White Mountains Re Group […]



EU pension regulation a death knell to DB schemes

by Gill Montia

Story link: EU pension regulation a death knell to DB schemes

Proposed EU pension regulations would add to business costs at a time when pension deficits are already holding back company performance, the Confederation of British Industry (CBI) claims. The latest CBI / Towers Watson Pensions Survey, which covers firms employing 1.3 million people, indicates that the costs and uncertainties of managing defined benefit (DB) schemes […]



December 12, 2011

Willis Italy acquires Broking Italia

by Richard Kilner

Story link: Willis Italy acquires Broking Italia

Willis Italy has announced that it has acquired Broking Italia SRL, a well-established Italian insurance market specialist founded and led by Gianfranco Agostini and Daniela Andreussi. The deal, the terms of which have not been disclosed, sees the Rome-based Broking Italia enhance Willis’ presence in the country with its specialism in Employee Benefits and leading […]



Hiscox given Corporate Chartered Insurer status

by Richard Kilner

Story link: Hiscox given Corporate Chartered Insurer status

The Chartered Insurance Institute (CII) has awarded international specialist insurer Hiscox with Corporate Chartered Insurer status for its Hiscox London Market business. Hiscox is amongst a small number of insurers whose senior underwriters have developed and delivered a technical programme which is available to claims and underwriting teams. New underwriters joining Hiscox sit CII exams […]



Swiss Re CEO announces early retirement

by Richard Kilner

Story link: Swiss Re CEO announces early retirement

The Board of Directors of Swiss Re has announced that Stefan Lippe has decided to step down as chief executive officer during 2012. Chairman of the Board of Directors Walter Kielholz said that the Board regretted Lippe’s decision to take early retirement after almost three decades with Swiss Re. Kielholz went on to say that […]



Miller’s Lambert is Young Broker of the Year

by Richard Kilner

Story link: Miller’s Lambert is Young Broker of the Year

Miller Insurance Services Limited, the specialist independent broker, enjoyed success at the Insurance Day London Market Awards when the firm’s Michael Lambert was named Young Broker of the Year. Lambert joined the firm’s graduate training scheme seven years ago, and is now a specialist in non-marine treaty reinsurance. The London Market Awards, held at the […]



LV= asset management team migrates to Friends Life

by Gill Montia

Story link: LV= asset management team migrates to Friends Life

Friends Life has hired an award winning fixed-income team from Liverpool Victoria to run its new asset management business, set to launch in the second half of 2012. Joining the group in January, Michael Wright, John Hampton, Purna Bhudia and Nigel Bradshaw will be London based and report to Friends Life Investments (FLI) chief investment […]



Aviva, AXA and Allianz threatened by S&P downgrade

by Gill Montia

Story link: Aviva, AXA and Allianz threatened by S&P downgrade

Aviva, AXA and Allianz are under threat of credit rating downgrades by Standard & Poor’s (S&P). Certain other European insurance providers have also been placed on CreditWatch negative by the firm, which last week warned that systemic stresses in the eurozone have risen to the extent that they put downward pressure on the credit standing […]



Liberty Syndicates appoints head of financial risks

by Gill Montia

Story link: Liberty Syndicates appoints head of financial risks

Liberty Syndicates, part of the Liberty Mutual Group, has appointed Peter Sprent to lead its global financial risks team. According to the firm, Mr Sprent is regarded by the industry as a leading political risk and trade credit underwriter. He takes over from Matthew Moore, whose responsibilities as chief underwriting officer for the £910 million […]



FSA’s RBS report considers role of institutional shareholders

by Gill Montia

Story link: FSA’s RBS report considers role of institutional shareholders

In its long-overdue report into the failure of Royal Bank of Scotland (RBS), the Financial Services Authority (FSA) comments on the role of shareholders in the bank’s disastrous acquisition of ABN AMRO. According to the regulator, RBS had the support of its institutional shareholders over its battle with Barclays for ownership of the Dutch bank, […]



Admiral considers legal services route

by Gill Montia

Story link: Admiral considers legal services route

Admiral is considering setting up a personal injury law firm, The Daily Telegraph has reported. Following the decision this autumn by the Ministry of Justice to ban referral fees for personal injury claims, the Cardiff-based group insisted that it had never sold customer details to personal injury lawyers or accident management companies. However, Admiral estimated […]



December 11, 2011

AXA appoints personal lines MD

by Gill Montia

Story link: AXA appoints personal lines MD

AXA Personal Lines has appointed Nick Turner as managing director intermediary & partnerships sales, with immediate effect. Mr Turner, who succeeds Mike Keating, has held a number of distribution roles within AXA over the past 26 years and developed business partnerships across a range of the insurer’s propositions, both in the UK and globally. Most […]



December 9, 2011

Atradius announces brace of appointments

by Richard Kilner

Story link: Atradius announces brace of appointments

Atradius N.V. has announced that Andreas Tesch’s appointment to its management board has been approved, and announced a pair of further appointments. Martie van Velsen has been named director of Global & Oceania, and Eric den Boogert becomes director of Asia. Van Velsen will assume responsibility for the future development and servicing of the firm’s […]



Ecclesiastical team wins QICM accreditation

by Richard Kilner

Story link: Ecclesiastical team wins QICM accreditation

Ecclesiastical has become the first UK insurer to achieve the new Quality in Credit Management (QICM) accreditation. Based on a range of criteria, including customer service and compliance, the firm’s Group Credit Risk Management team reached the necessary standard in all categories. The accreditation was designed to recognise best practice in credit management, and to […]