Daily Insurance Industry News
 
 
Daily Insurance Industry News
Friday 19th of January 2018
May 23, 2012

AEGON to cancel LSE listing

by Gill Montia

Story link: AEGON to cancel LSE listing

AEGON N.V. is to cancel its listing on the Official List maintained by the UK Listing Authority and its admission to trading on the London Stock Exchange (LSE). Both cancellations are expected to take effect from 8.00 a.m. on 29th June 2012. The Dutch insurer says the volume of its shares traded on the LSE […]



Standard Life launches communications panel

by Gill Montia

Story link: Standard Life launches communications panel

Standard Life has launched a customer communications council which will act as a consulting body, addressing the ongoing need for insurers to present customers with information from both a legal and transparency point of view. Inaugural members include Karen Barrett, chief executive of unbiased.co.uk, and Nick Caan, chief executive of the Institute of Financial Planning. […]



Zurich makes GI appointments

by Gill Montia

Story link: Zurich makes GI appointments

Zurich has announced the appointment of Claudia Dill as chief operating officer at its general insurance business (effective 1st July 2012) and Dirk De Nil as head of sales and distribution for general insurance (effective 1st June 2012). Mrs Dill moves from head of global business services within group operations to take over from Mr […]



ABI calls for overhaul of Riot Damages Act

by Gill Montia

Story link: ABI calls for overhaul of Riot Damages Act

The Association of British Insurers (ABI) is calling for an overhaul in the Riot (Damages) Act 1886, which allows compensation to be paid by police authorities to victims who suffer loss or damage following a riot. According to the ABI, the intention of the 126 year-old legislation remains relevant but current arrangements have led to […]



May 22, 2012

Car insurance costing young drivers dearly

by Richard Kilner

Story link: Car insurance costing young drivers dearly

Young drivers are being hit hard with insurance premiums, which can be nearly sixfold those paid by pensioners and up to a fifth of a young person’s salary, new figures have shown. The research, commissioned by Confused.com, has shown that the average income of an 18-21 year old is a little under £14,000, but that […]



Aon appoints new group president

by Richard Kilner

Story link: Aon appoints new group president

Aon plc has announced the appointment of Steve McGill to the position of group president. In his new role McGill will take on responsibility for oversight of the firm’s overall growth strategy and opportunity planning. Aon President and Chief Executive Officer Greg Case described McGill as an exceptional leader for the firm, and attributed the […]



May 21, 2012

IFB appoints Andrew Buck to roll-out Insurance Fraud Register

by Brian Turner

Story link: IFB appoints Andrew Buck to roll-out Insurance Fraud Register

The Insurance Fraud Bureau (IFB) has recruited Andrew Buck to oversee the launch of the industry’s ground-breaking Insurance Fraud Register (IFR). Buck, a former Claims Fraud Manager at Aviva, will help roll-out the UK’s first register of known fraudsters to customers across the industry, whilst managing the integrity of data loaded on to the IFR. […]



BGL Group appoints new board director

by Brian Turner

Story link: BGL Group appoints new board director

The BGL Group today announced the appointment of David Downie to a new Board-level position, ‘Group Director of Intermediated Businesses’. David joins the Group from HSS Hire Group, the UK’s fastest growing large ‘Tool and Hire’ company. As Chief Operating Officer, David’s responsibilities included branch and central operations, commercial, supply chain, contact centres and customer […]



RSA unifies global specialty businesses

by Richard Kilner

Story link: RSA unifies global specialty businesses

Global insurer RSA announced that from 1 June all of its regional speciality businesses will come under the insurer’s Global Speciality Lines (GSL) division. Included in GSL will be Construction & Engineering and Renewable Energy (led by Steve Kingshott), Marine (led by Richard Turner), and Risk Managed Business (led by Paul Greensmith). UK Underwriting Director […]



ABI reports on rising cost of metal theft

by Richard Kilner

Story link: ABI reports on rising cost of metal theft

The Association of British Insurers (ABI) has reported that over £1m per week is being paid out by insurers due to metal theft. The annual cost of the rising metal crime for the UK economy has been estimated at £770m, with an estimated 1,000 incidents every week. The weekly incidence rate has doubled from 2007, […]



Only 15% of UK workers insured against ill-health

by Gill Montia

Story link: Only 15% of UK workers insured against ill-health

Only 15% of UK workers have any form of insurance against ill-health preventing them from earning a living, with just 7% receiving the insurance as part of their employee benefits package, new research from MetLife suggests. The insurance gap is at its widest for those aged 55 and over as only 12% of this group […]



Willis enhances DARCstar D&O offering

by Gill Montia

Story link: Willis enhances DARCstar D&O offering

Willis has improved its DARCstar directors’ and officers’ (D&O) insurance and launched two new products in the range: prospectus liability insurance and Eclipse, an excess policy for non-executive directors that provides additional protection against insurer insolvency. Commenting on developments, Willis’ director, financial, executive risk and professional liability, Francis Kean, says: “Directors today also need protection […]



UK leaps up hacking league table

by Gill Montia

Story link: UK leaps up hacking league table

NCC Group has released its latest Origin of Hacks report, showing the main countries from which global computer hacking originated during the first three months of the year. Research from the IT assurance provider reveals that the UK has entered the top ten for the first time, while the proportion of worldwide hacks coming from […]



May 18, 2012

Brokers express concern about FSCS

by Richard Kilner

Story link: Brokers express concern about FSCS

A new survey from the British Insurance Brokers Association (BIBA) has revealed that regulation is the number one concern for insurance brokers. Three-quarters of those surveyed wanted reform of the Financial Services Compensation Scheme (FSCS) and nearly 90% wanted BIBA to convey the issue of proportionate regulation to the Government. One in ten of those […]



XL appoints chief HR officer

by Richard Kilner

Story link: XL appoints chief HR officer

XL Group plc has announced the appointment of Eileen Whelley as executive vice president and chief human resources officer. Whelley succeeds Elizabeth L. Reeves, who is retiring, with effect from 18 June. For the last six years Whelley has served as executive vice president (Human Resources) at The Hartford Financial Services Group and will report […]



May 17, 2012

Fitch positive on Lloyd’s emerging markets’ expansion

by Gill Montia

Story link: Fitch positive on Lloyd’s emerging markets’ expansion

The Lloyd’s insurance market’s planned expansion into emerging markets is a net positive, even though writing insurance outside established markets carries additional risks, Fitch Ratings reports. According to the credit rating firm, Lloyd’s already writes 25% of its business outside Europe and North America and premium growth in emerging economies is outpacing that of developed […]



New Birmingham office for Argent Liability Adjusters

by Brian Turner

Story link: New Birmingham office for Argent Liability Adjusters

Argent Liability Adjusters has announced the launch of a new Birmingham office as its strong growth continues apace. The office will be headed by Neil Hackett, an industry recognised expert in disease and illness and will provide a new base for Argent’s expanding disease team. Responding to increasing client demand, Argent is also recruiting for […]



ACE bolsters South African leadership team

by Richard Kilner

Story link: ACE bolsters South African leadership team

ACE has announced a pair of appointments to bolster its South Africa business, with John Nienaber becoming country president and Interim CEO Gary Jack becoming COO and head of Accident and Health. Nienaber brings more than a decade of industry experience to his new position and until 2011 worked for Stalker Hutchinson as executive head […]



Jelf to boost its HNW proposition

by Brian Turner

Story link: Jelf to boost its HNW proposition

In a move aimed at boosting its mid and high net worth proposition, Jelf Insurance Brokers has appointed Tony Parker as Business Development Director – Private Clients. Reporting directly to Phil Barton, CEO (Insurance), Tony will lead the design and implementation of the Group’s mid and high net worth strategy, which includes ambitious plans to […]



Aviva seeks “best person in the world” as savings sales dip

by Gill Montia

Story link: Aviva seeks “best person in the world” as savings sales dip

In a trading update, Aviva has announced that operating profit for the first quarter of 2012 is marginally down compared to the same period last year, but mostly due to the offloading of its Delta Lloyd and RAC businesses. During the period, long-term savings sales fell 5% to £7.5 billion (Q1 2011: £7.8 billion) as […]