Daily Insurance Industry News
 
 
Daily Insurance Industry News
Thursday 26th of April 2018
June 29, 2012

BGL appoints new Frontline MD

by Richard Kilner

Story link: BGL appoints new Frontline MD

The BGL Group has announced the appointment of Mark Townsend as the new managing director of Frontline, the business unit with responsibility for BGL brands including Budget and Dial Direct. Townsend leaves behind Capita Insurance Division to join the firm, and whilst MD with Capita led it through a period of successful growth and increased […]



Ironshore appoints global CFO and HR chief

by Richard Kilner

Story link: Ironshore appoints global CFO and HR chief

Ironshore Inc. has announced a number of senior appointments, including those of Peter Harper (the new global chief financial officer) and Meg Drago (the new global head of human resources). Harper previously served as the chief financial officer of Scottsdale Insurance Company for seven years, and replaces founding CFO Mitchell Blaser. Earlier in his career […]



Aviva and Tesco clinch life insurance deal

by Gill Montia

Story link: Aviva and Tesco clinch life insurance deal

Aviva has announced an exclusive five-year deal with Tesco Bank to provide life protection products for its UK retail customers. To be launched later this year, the deal involves the sale of Aviva’s core protection products including life insurance and critical illness cover. Products will be available online via Tesco Bank or over the phone […]



June 28, 2012

Catlin names new Canada chief executive

by Richard Kilner

Story link: Catlin names new Canada chief executive

International specialty property/casualty insurer and reinsurer Catlin Group Limited has announced the appointment of David Huebel as the new Catlin Canada chief executive officer. Huebel, who assumes his new position with effect from 3 July, succeeds Mike Hansen, who will continue as the firm’s Aerospace Product Group global leader. July will also see Greg Joyce […]



Willis wins Trading Risk award

by Gill Montia

Story link: Willis wins Trading Risk award

Willis Capital Markets & Advisory (WCMA) has won Trading Risk magazine’s non-life transaction of the year award for its Golden State Re catastrophe bond. The deal was recognised for its innovation and creativity in the insurance-linked securities market. As the first catastrophe bond designed exclusively to cover workers’ compensation catastrophe exposure, it introduced a new […]



Tidjane Thiam to chair ABI

by Gill Montia

Story link: Tidjane Thiam to chair ABI

Tidjane Thiam has been nominated by the board of the Association of British Insurers (ABI) to become its next chairman with effect from 3rd July. Currently group chief executive of Prudential, he takes over from Tim Breedon of Legal & General who will be stepping down having completed his two-year term of office with the […]



June 27, 2012

Navigators appoints chief risk officer

by Richard Kilner

Story link: Navigators appoints chief risk officer

The Navigators Group, Inc. has announced the appointment of Jennifer Yang as the firm’s new chief risk officer. Yang will assume responsibility for supervision of enterprise risk management on the global stage and will be directly responsible to Senior Vice President and Chief Financial Officer Ciro M. DeFalco. She brings extensive experience in risk management […]



ABI nominates Thiam as next chairman

by Richard Kilner

Story link: ABI nominates Thiam as next chairman

The Board of the Association of British Insurers (ABI) has nominated Tidjane Thiam to be its next chairman, with effect from 3 July. Thiam, Prudential plc chief executive, will succeed Legal & General’s Tim Breedon after the completion of his two year term of office. Thiam has been Prudential plc’s executive director since 2008, sits […]



FSA consults on changes to platforms market

by Gill Montia

Story link: FSA consults on changes to platforms market

The Financial Services Authority (FSA) is consulting on proposals that would help investors make fully informed choices should they wish to consolidate their investments on a platform and understand exactly what they are paying for the service. Currently, providers of investment products generally pay to have their products included on a platform, with the cost […]



June 26, 2012

ACE makes brace of senior appointments

by Richard Kilner

Story link: ACE makes brace of senior appointments

The ACE Group has announced that it has appointed Andrew McBride executive vice president (Claims) of its international business. McBride will assume responsibility for the firm’s claims operations supporting its property and casualty and accident and health insurance businesses in 50 countries in the Asia Pacific and Japan; Latin America; and Europe, Middle East and […]



RSA Czech operation enters run-off

by Richard Kilner

Story link: RSA Czech operation enters run-off

Global insurer RSA has announced that it is to close its direct motor insurer in the Czech Republic, DIRECT Pojiš?ovna, to new business. The existing portfolio of DIRECT Pojiš?ovna is to be placed into run-off with immediate effect. Group Chief Executive Officer Simon Lee explained that the firm felt unable to achieve sustainable underwriting profit […]



Pension schemes shun UK equities

by Gill Montia

Story link: Pension schemes shun UK equities

Aon Hewitt is claiming that the trend for medium-sized UK pension schemes to move away from investment in equities, and UK equities in particular, towards alternative and liability-matching assets, is likely to intensify during the next 12 months to three years. The firm’s latest mid-market survey takes a look at the asset and liability strategies […]



UK businesses in front line of cyber threat

by Gill Montia

Story link: UK businesses in front line of cyber threat

Delivering the Lord Mayor’s Annual Defence and Security Lecture yesterday, the UK’s Director General of the Security Service, Jonathan Evans, warned that the front line in cyber security is as much in business as it is in government. Currently, Britain’s National Security Strategy ranks cyber security alongside terrorism as one of the four key security […]



June 25, 2012

LV= appoints new chief investment officer

by Richard Kilner

Story link: LV= appoints new chief investment officer

Insurance, investment and retirement group LV= has announced that it has appointed Wendy Mayall as the firm’s new chief investment officer. Mayall will take on responsibility for all aspects of the firm’s investment strategy, offering advice and support to differing business areas. She will manage the relationship with Threadneedle Investments, who manage the Society’s assets, […]



Canopius appoints UK Retail Underwriting chief

by Richard Kilner

Story link: Canopius appoints UK Retail Underwriting chief

Specialist (re)insurance underwriting firm Canopius Group Limited has announced the appointment of Paul Dilley as the new head of Underwriting (UK Retail). Dilley will join the firm upon the conclusion of his present obligations, and will be directly responsible to UK Retail CEO Tim Rolfe. When he occupies the newly created position Dilley will assume […]



June 23, 2012

L&G announces First Trust partnership

by Gill Montia

Story link: L&G announces First Trust partnership

Legal & General (L&G) and First Trust Bank have announced a long-term joint distribution agreement for a range of life insurance, investment and pension products. Part of AIB Group (UK), First Trust Bank is headquartered in Belfast and has 48 branches across Northern Ireland. Under the agreement, First Trust’s financial consultants will sell L&G’s products […]



Consumer alert regarding FCV Broker

by Gill Montia

Story link: Consumer alert regarding FCV Broker

Lloyd’s has issued a consumer alert regarding a firm styling itself as FCV Broker which on its website www.fcvbroker.com offers various “wealth management services” which include financial and retirement planning. The firm states that it is authorised and regulated by the Financial Services Authority (FSA) with registration number 571262, however the FSA has confirmed that […]



Aviva calls for corporate sustainability disclosure

by Gill Montia

Story link: Aviva calls for corporate sustainability disclosure

In an open letter to heads of state gathering for the Rio+20 summit, Aviva has called for a change in corporate reporting so that sustainability issues are included. According to the insurer, 75% of companies don’t currently report on sustainability issues meaning that the ability of markets to integrate sustainability into company valuation is severely […]



June 22, 2012

Ecclesiastical appoints Archdeacon to the Board

by Richard Kilner

Story link: Ecclesiastical appoints Archdeacon to the Board

Specialist insurer Ecclesiastical has announced that The Venerable Christine Wilson has joined its Group Board as a non-executive director. Wilson has also become a non-executive director of Ecclesiastical Insurance Office plc. She is presently the Archdeacon of Chesterfield within the Diocese of Derby, and is in charge of the Diocesan Board of Finance’s financial strategy […]



BGL appoints counter-fraud manager

by Richard Kilner

Story link: BGL appoints counter-fraud manager

The BGL Group has announced the appointment of Martin Croucher as the firm’s new senior counter-fraud manager. Croucher will assume the leadership of the intermediary’s comprehensive counter-fraud strategy, which will involve close collaboration with other organisations across the industry to help combat fraud. He will also drive the success of Data Hub, a new initiative […]