Daily Insurance Industry News
 
 
Daily Insurance Industry News
Thursday 19th of July 2018
January 24, 2012

Old Mutual merges European operations

by Gill Montia

Story link: Old Mutual merges European operations

Old Mutual is combining its Wealth Management Continental Europe (France and Italy) operations with its Skandia Retail Europe business (Germany, Austria, Poland and Switzerland) to create Wealth Management Europe. The merger follows a strategic review of the businesses prompted by economic and regulatory developments in the European long-term savings markets, and changes in customer preferences. […]



January 23, 2012

LMIE appoints chief operating officer

by Richard Kilner

Story link: LMIE appoints chief operating officer

Liberty Mutual Insurance Europe Limited (LMIE) has announced the appointment of John McCammon as chief operating officer. McCammon succeeds Patrick O’Brien, who vacated the position to become chief executive officer of Liberty Insurance in Ireland. Prior to his latest appointment McCammon served LMIE as head of Claims. McCammon is to be based in London and […]



XL appoints International P&C chief executive

by Richard Kilner

Story link: XL appoints International P&C chief executive

XL Group plc’s insurance segment has announced the appointment of Jason Harris as chief executive of the International P&C Insurance business. Harris is to be based in London and will report directly to XL insurance segment CEO Greg Hendrick. Harris will also acquire a seat on the Executive Board when he joins the firm. He […]



JLT Specialty to open Nottingham office

by Gill Montia

Story link: JLT Specialty to open Nottingham office

JLT Specialty (JLTS) has confirmed that it will be opening new UK regional offices in Nottingham in the Spring. The firm provides specialist insurance broking, risk management and claims consulting services to medium enterprises through to large and international companies. Commenting on the expansion, JLTS managing director regional partnership division, Warren Downey, says: “Our strategic […]



January 21, 2012

Unemployed face 30% car insurance loading

by Gill Montia

Story link: Unemployed face 30% car insurance loading

Insurers are being accused of discriminating against the unemployed after research by the BBC revealed that motor premiums come with an average 30% loading for those out of work. The BBC asked three brokers for quotes for an employed office worker and followed up with requests for the same driver, once jobless. The best deal […]



January 20, 2012

ACE opens representative office in Kiev

by Richard Kilner

Story link: ACE opens representative office in Kiev

ACE has announced that it has opened a new representative office in Kiev, the latest step in its expansion across Europe. The newly established office will act as a liaison office for multi-national clients with a presence in Kiev, as well as enabling ACE to foster its presence and relationships in the insurance market of […]



Aon acquires Spanish broker

by Gill Montia

Story link: Aon acquires Spanish broker

Aon has agreed to acquire 80% of Spanish insurance broker, GDS, from La Caixa and Banca March, with an option to purchase the remaining shares in the firm at a future date. Meanwhile, Spanish bank, La Caixa, will continue to hold a percentage stake in GDS while partnering Aon in plans for the continued expansion […]



January 19, 2012

New CEO at Willis Re

by Richard Kilner

Story link: New CEO at Willis Re

Global insurance broker Willis Group Holdings has announced the appointment of John Cavanagh as the new chief executive officer of Willis Re. Cavanagh, who assumes his new position with immediate effect, succeeds Steve Hearn, who was appointed Willis Global chairman and chief executive in December 2011. In addition to acquiring a seat on the Willis […]



Swiss Re appoints group CEO

by Gill Montia

Story link: Swiss Re appoints group CEO

Swiss Re has appointed Michel M Liès, currently the firm’s chairman, global partnerships, as group chief executive officer, effective 1st February 2012. Mr Liès, who has held held various positions at Swiss Re during the past 30 years, succeeds Stefan Lippe, who joined the group in 2009. In addition, Moses Ojeisekhoba will join Swiss Re […]



Northcourt bolsters global nuclear insurance capacity

by Gill Montia

Story link: Northcourt bolsters global nuclear insurance capacity

A new coverholder has launched at Lloyd’s, dedicated to providing the first new capacity to the global nuclear insurance market in thirty years. Northcourt says it is responding to a shortage of capacity in the nuclear market, and the fact that the territory-based structure of existing programmes has made life difficult for today’s global industry. […]



MetLife appoints employee benefits director

by Gill Montia

Story link: MetLife appoints employee benefits director

MetLife has appointed Stephanie Baillie as employee benefits director. Joining from Friends Life, where she held the role of head of group protection, Ms Baillie is charged with leading the expansion of the firm’s UK employee benefits business. The appointment follows the launch of a dedicated sales support team that will help help to increase […]



Direct Line and Churchill fined for file tampering

by Gill Montia

Story link: Direct Line and Churchill fined for file tampering

The Financial Services Authority (FSA) has imposed a fine of £2.17 million for failings by insurers Direct Line and Churchill, both of which are owned by Royal Bank of Scotland (RBS). According to the regulator, the firms failed to prevent files that the FSA had requested from being improperly altered. During the collation of 50 […]



January 18, 2012

Bluefin achieves Chartered Broker status

by Richard Kilner

Story link: Bluefin achieves Chartered Broker status

Bluefin Insurance Services Ltd has been granted Chartered Insurance Brokers status by the Chartered Insurance Institute (CII). The Chartered status is granted only to select firms that exhibit especial professionalism and capability. Chartered Insurance Brokers subscribe to the CII’s Code of Ethics, ensuring that their business dealings are conducted in accordance with the best professional […]



Financial Reporting Council update on country and currency risk

by Gill Montia

Story link: Financial Reporting Council update on country and currency risk

The Financial Reporting Council (FRC) has published an update for directors of listed companies in the UK aimed at helping them respond to increased country and currency risk as they prepare forthcoming annual and half-yearly reports. The watchdog says it is responding to the economic uncertainties facing a number of countries around the world. The […]



January 17, 2012

XL appoints Mexico CEO

by Richard Kilner

Story link: XL appoints Mexico CEO

The insurance segment of XL Group plc has announced the appointment of Alvaro Salamanca as the new chief executive officer of its operation in Mexico. Salamanca, whose appointment is made with immediate effect, will report directly to Regional Manager for Iberia & Latin America Bruno Laval. Salamanca brings extensive underwriting experience to his new post, […]



Black Swans demand risk management review

by Gill Montia

Story link: Black Swans demand risk management review

The risk management practices of many organisations are “worryingly incomplete” and being outpaced by an era of catastrophic “Black Swan” events, claims a new paper from PricewaterhouseCoopers (PwC). Black Swan events are events that are nigh impossible to predict yet appear to be happening more frequently, and PwC is urging firms to be more agile […]



Perkins Slade appoints new Corporate MD

by Richard Kilner

Story link: Perkins Slade appoints new Corporate MD

Perkins Slade has announced the appointment of Darren Rowe to the position of managing director Corporate. Rowe brings more than two decades of experience in the insurance sector to his new role, including occupying senior posts with PowerPlace and Towergate, and he will also acquire board responsibility for Perkins Slade’s Corporate and Credit divisions. The […]



January 16, 2012

Marsh appoints European CEO

by Gill Montia

Story link: Marsh appoints European CEO

Marsh has announced that Martin South has been appointed to the newly-created position of chief executive officer of Marsh Europe. In taking up the role, Mr South will remain responsible for the group’s operations in Turkey and India and will also continue as chief executive officer of Marsh UK & Ireland, until a successor is […]



January 15, 2012

MetLife launches London sales team

by Gill Montia

Story link: MetLife launches London sales team

MetLife has announced that it is creating a regional sales team specifically for the Greater London area. Ralitsa Nenkova is heading up the new team, having taken on the role of regional sales director, and further key appointments are expected. Ms Nenkova joined the group in June 2008, initially covering sales and business relationships across […]



January 13, 2012

LV= launches Bristol recruitment drive

by Richard Kilner

Story link: LV= launches Bristol recruitment drive

LV= has announced that it is expanding its presence in Bristol, where its office handles general insurance business including customer service, claims handling and IT. The firm has enjoyed strong growth recently and is seeking to increase its staff numbers, (presently 500), in the city by recruiting 50 more staff in the first half of […]