Daily Insurance Industry News
 
 
Daily Insurance Industry News
Thursday 26th of April 2018
May 31, 2012

RSA underwrites telematics for Ingenie

by Brian Turner

Story link: RSA underwrites telematics for Ingenie

RSA today announced it will provide underwriting capacity to ingenie, the car insurance brand for drivers aged 17 to 25, to meet the increasing demand for their young driver telematics insurance cover. The partnership with ingenie (http://www.ingenie.com) is the first telematics initiative announced by RSA this year and is part of the insurer’s strategy to […]



AEGON takes €265m hit on unit linked costs

by Gill Montia

Story link: AEGON takes €265m hit on unit linked costs

AEGON is bringing forward measures to reduce costs for its customers with unit-linked insurance policies, having committed to the “best of class” principles of the Dutch Ministry of Finance. In the past, the insurer’s approach has been to settle compensation with clients when the policy expires. However, to comply with the Ministry’s principles, AEGON will […]



Willis Ireland acquires Attain Consulting

by Gill Montia

Story link: Willis Ireland acquires Attain Consulting

Willis Risk Services (Ireland) has acquired Attain Consulting and its sister company, Trustee Principles. Attain Consulting was established in 2008 by John Feely, former chairman of the Irish Association of Pension Funds. The company employs 10 staff providing traditional pension consulting services as well as industrial relations management to a range of corporate and personal […]



XL accepts Collateral Trusts for captive insurance programmes

by Gill Montia

Story link: XL accepts Collateral Trusts for captive insurance programmes

XL has announced that it is now accepting Collateral Trusts in lieu of Letters of Credit used as collateral for corporate deductible and captive insurance programmes in the UK. According to the re / insurer, Letters of Credit (the traditional method of providing collateral for corporate deductible and captive insurance programmes) are often expensive to […]



May 30, 2012

ABI welcomes NI driving licence reform

by Richard Kilner

Story link: ABI welcomes NI driving licence reform

Otto Thoresen, the director general of the Association of British Insurers (ABI), has welcomed the proposals to reform how people learn to drive in Northern Ireland. Thoresen congratulated Minister Alex Attwood for proposing long overdue reforms. He went on to say that the risk of crashing for a young driver alone is around a third […]



May 29, 2012

Gallagher Heath offers cover for pancreatic cancer suffers

by Gill Montia

Story link: Gallagher Heath offers cover for pancreatic cancer suffers

Gallagher Heath has teamed up with Pancreatic Cancer UK to provide a service to people affected by the condition, as well their carers and other supporters of the charity. The package includes travel, home and motor insurance. The travel product can cover an entire party on one policy with premiums based on each individual’s declaration […]



AXA PPP International appoints regional sales managers

by Richard Kilner

Story link: AXA PPP International appoints regional sales managers

AXA PPP International has announced the appointments of Derry Andrews and Ed Daniels. Andrews becomes regional sales manager for Spain and Daniels occupies the same role for Africa, with the pair reporting directly to Sales & Marketing Director Kevin Melton. Andrews, who is to be based in Spain, will assume responsibility for bolstering the firm’s […]



Cullum Capital Ventures granted Chartered Broker status

by Brian Turner

Story link: Cullum Capital Ventures granted Chartered Broker status

Cullum Capital Ventures (CCV) has attained the prestigious status of Chartered Broker, awarded by the Chartered Insurance Institute (CII). The accolade means that CCV joins a select few brokers nationwide, including sister company Towergate, that have achieved this recognition, awarded to those who meet the highest professional standards in the industry. Peter Cullum, Executive Chairman […]



Holidaymakers shaky on travel disruption cover

by Gill Montia

Story link: Holidaymakers shaky on travel disruption cover

Nearly one third of Brits who have trips abroad booked in the next 12 months are concerned that their travel plans could be disrupted by factors outside of their control, according to new research from Lloyds TSB. However, while nearly two-thirds of travellers surveyed already have insurance in place for their next trip, 40% of […]



May 28, 2012

Barbon Insurance Group appoints Mike Ramsey as CEO

by Brian Turner

Story link: Barbon Insurance Group appoints Mike Ramsey as CEO

UK property insurance broker Barbon Insurance Group has announced the appointment of Mike Ramsey as its new Chief Executive Officer – with effect from 6th June 2012 and subject to FSA approval. An experienced CEO and strategist, Mike brings significant leadership, marketing and commercial skills to Barbon, as well as a proven track record in […]



Ageas appoints head of Household

by Richard Kilner

Story link: Ageas appoints head of Household

Ageas has announced the appointment of Craig Allen to the post of head of Household Underwriting. The former head of Household Underwriting, Stephen Linklater, becomes Ageas’ head of Motor Underwriting. In his new position Allen gains responsibility for improving the performance and profitability of the home account by managing pricing, underwriting and business development activity. […]



Amlin announces divisional integration

by Richard Kilner

Story link: Amlin announces divisional integration

Amlin has announced that Amlin France (known as Anglo-French underwriters prior to its acquisition by Amlin four years ago) is to be integrated into Amstelveen-based Amlin Corporate Insurance. The integration will consolidate all of the firm’s European commercial insurance activities and enable a broader client proposition to be offered in Europe. Amlin France Chairman François […]



Prudential names new chairman

by Gill Montia

Story link: Prudential names new chairman

Prudential has appointed Paul Manduca as chairman, succeeding Harvey McGrath. He will assume the position on 2nd July, having been an independent non-executive director of Prudential since October 2010 and senior independent director since January 2011. Mr Manduca has had a long career in the international financial services industry, founding Threadneedle Asset Management in 1994, […]



Miller appoints treaty reinsurance specialist

by Richard Kilner

Story link: Miller appoints treaty reinsurance specialist

Miller has announced that it has hired Chin Kim Sun, an expert in South East Asia treaty reinsurance. Sun, who previously worked for Aon Benfield Re, specialises in producing and broking treaty reinsurance business from South East Asia. He first began his insurance career in the reinsurance department of Jerneh Insurance Berhad, and was a […]



CBI: new slant on pension fund investment in infrastructure

by Gill Montia

Story link: CBI: new slant on pension fund investment in infrastructure

The Confederation of British Industry (CBI) is urging the Government to make infrastructure projects a more attractive investment prospect for pension funds. In a new report entitled “An offer they shouldn’t refuse”, the employer’s body sets out four changes which it believes could make a real difference for institutional investors, as follows: Targeting specific projects […]



Call for insurer innovation in CMT sector

by Gill Montia

Story link: Call for insurer innovation in CMT sector

“Resistance to change” is seen as the biggest weakness for insurers (44%) and brokers (39%), according to a poll undertaken by JLT Specialty at the recent Global Communications, Technology & Media (CTM) Forum in Salzburg. The survey also found that a majority of attendees “strongly agreed” with the following statements: 1. Insurers don’t understand patent […]



Brands stolen to order in new crime wave

by Gill Montia

Story link: Brands stolen to order in new crime wave

Research by criminologists commissioned by LV= claims that 5% of burglaries committed last year were carried out by criminals who steal specific brands “to order”, with the trend having increased significantly in the past five years. Apple, Samsung, Sony, Microsoft and Dell are the most commonly “ordered” brands as they can be sold on easily […]



May 25, 2012

Miller hires Warren Dann

by Richard Kilner

Story link: Miller hires Warren Dann

Miller has underlined its intent to expand its book of large corporate clients with the appointment of Warren Dann. Dann, who joins the firm from Jardine Lloyd Thompson (JLT), began his career in 1989 and is a specialist in frontline new business development. In his new role with Miller he will be tasked with expanding […]



May 24, 2012

Some progress on flood insurance

by Richard Kilner

Story link: Some progress on flood insurance

Caroline Spelman, the Defra secretary of state, has told the Association of British Insurers (ABI) that the beginning of a solution to flood insurance has been found. In order for flood insurance to remain available and affordable a comprehensive replacement for the Statement of Principles on flood insurance needs to be created, and whilst this […]



DC pension savers shy away from investment decisions

by Gill Montia

Story link: DC pension savers shy away from investment decisions

According to research from Standard Life, nine out of 10 Defined Contribution (DC) pension investors can’t name or don’t know all the funds in which their pension contributions are invested. However, almost half of those questioned said they felt their investments reflected their attitude to risk. The research also indicates that three quarters of DC […]