Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 21st of January 2018
December 17, 2012

Bupa to acquire Dental Corporation

by Richard Kilner

Story link: Bupa to acquire Dental Corporation

International healthcare group Bupa has announced that it plans to acquire Dental Corporation, Australia and New Zealand’s largest dental group. The acquisition will bolster and broaden Bupa’s current healthcare offering in Australia and New Zealand, which already includes private health insurance, care homes, retirement villages, and many other services. On completion of the deal Bupa […]



December 15, 2012

LV= appoints group company secretary

by Gill Montia

Story link: LV= appoints group company secretary

LV= has appointed Rachel Small as group company secretary, effective 1st January 2013. Ms Small joined the mutual in September 2007 and is currently group general counsel. She will continue in this role, while taking on the additional responsibility of advising the LV= board of directors to ensure high standards of corporate governance across the […]



Hastings appoints marketing director

by Gill Montia

Story link: Hastings appoints marketing director

Hastings Direct has appointed Nicola Charles as marketing director, reporting to managing director of retail, Tobias van der Meer. Ms Charles was formerly head of digital marketing at LV= having previously held senior roles in claims, customer relations and partnerships at RBS Insurance. Hastings’ chief executive officer, Gary Hoffman, comments: “Nicola is joining us at […]



Energy industry faces new decommissioning risks

by Gill Montia

Story link: Energy industry faces new decommissioning risks

Willis is warning that the energy industry faces new risks associated with decommissioning and dismantling oil and gas installations. According to the broker, in the years ahead a significant number of offshore oil and gas platforms will reach the end of their productive lives – in the North Sea alone it is estimated that over […]



68% of insurers scale back Solvency II implementation

by Gill Montia

Story link: 68% of insurers scale back Solvency II implementation

New research from PricewaterhouseCoopers claims that the majority of insurers now expect Solvency II to fully come into force in 2016. Furthermore, 68% of insurers surveyed have scaled back their implementation programme with this in mind. Certainly, a delay in Solvency II 2014 reporting would be welcomed given that 58% of respondents won’t be ready […]



December 14, 2012

Ex-Brit CEO to join Arthur J. Gallagher

by Richard Kilner

Story link: Ex-Brit CEO to join Arthur J. Gallagher

Arthur J. Gallagher International has announced that Neil Eckert is to be appointed a non-executive director, subject to regulatory approval. Eckert is the founder and former chief executive officer of Brit Insurance, and he warned that the world was becoming increasingly under-insured. He went on to say that after three decades of experience in and […]



IAG to sell UK operations

by Richard Kilner

Story link: IAG to sell UK operations

Insurance Australia Group Limited (IAG) has announced the sale of all its UK operations following the completion of its strategic review. The sale is expected to occur through two separate transactions, with the Equity Red Star (ERS) business being sold to private equity investment firm Aquiline Capital Partners for £87m. The ERS sale is subject […]



December 13, 2012

Munich Re chairman to retire

by Gill Montia

Story link: Munich Re chairman to retire

Munich Re’s supervisory board chairman, Hans-Jürgen Schinzler, is retiring on 31st December 2012. He will be succeeded by Bernd Pischetsrieder, who has been on the reinsurer’s supervisory board since 2002 and is apparently “well acquainted” with the challenges of the international insurance industry.



RK Harrison appointed by IMechE

by Richard Kilner

Story link: RK Harrison appointed by IMechE

R K Harrison Insurance Services Limited (RKHIS) has been named as the preferred business insurance supplier to members of the Institution of Mechanical Engineers (IMechE). More than 100,000 professional engineers are members of the IMechE, working in a variety of sectors including Aerospace, Automobile, Construction & Building, Manufacturing, Medicine & Health, Power and Railway. The […]



Groupama applauds Government whiplash proposals

by Richard Kilner

Story link: Groupama applauds Government whiplash proposals

Groupama Insurances’ Head of Large and Complex Loss Karl Parr has welcomed the Government’s proposals to tackle false whiplash claims, and said that they should be applauded. Parr described the whiplash claim record in the UK as entirely disproportionate to the rest of Europe, adding that every policyholder was paying extra because of it. The […]



Allianz Retail offers Christmas security tips

by Richard Kilner

Story link: Allianz Retail offers Christmas security tips

As Christmas draws nearer Allianz Retail has issued advice to customers and brokers to help ensure properties are as secure as possible over the festive season. Many spend time away from home, visiting family and friends, which can leave unoccupied homes easy pickings for criminals. The insurer has issued a range of tips to avoid […]



Marsh launches Mumbai energy hub

by Gill Montia

Story link: Marsh launches Mumbai energy hub

Marsh has launched a global energy hub in Mumbai, India, to serve the risk and insurance needs of the growing oil and gas sector in the region. The broker now has 12 energy hubs worldwide, which act as local centres of expertise and allow clients to access the firm’s full global energy sector capabilities. Notably, […]



December 12, 2012

UK boards making progress in diversity

by Gill Montia

Story link: UK boards making progress in diversity

UK boardrooms are making clear progress on diversity and the use of external evaluation, according to the Association of British Insurers (ABI). In a new study based on an analysis of FTSE 350 annual reports, the ABI found that: Board diversity is improving: 26% of FTSE 100 and 31% of FTSE 250 board appointments were […]



Groupama offers tips to avert burst pipes

by Richard Kilner

Story link: Groupama offers tips to avert burst pipes

Groupama Insurances has alerted policy householders to pre-emptive measures they should take to help avert burst pipes due to the freezing winter weather. The firm advises homeowners to keep their heating on a high enough level to prevent freezing occurring, lagging pipes and insulating vulnerable areas, and to check plumbing joints. Head of Household at […]



£2.4bn of presents to be hidden in cars this year

by Richard Kilner

Story link: £2.4bn of presents to be hidden in cars this year

New research from Allianz Your Cover has found that Britons will hide Christmas presents worth a total of £2.4bn in their cars this year. The survey of 2,000 people found that 30% hid their presents in the car, and 28% left them on display and unsecured in the vehicle, heightening the risk of theft. Toys […]



BGL appoints HR director

by Richard Kilner

Story link: BGL appoints HR director

The BGL Group has announced the appointment of Catherine Lynch as a new Executive Team member and the firm’s Human Resources director. She joins the firm from Barclaycard, where she worked most recently as HR director for the UK and Europe. Earlier in her career Lynch worked for seven years as Santander’s HR director, as […]



Munich Re reinsurers Chinese photovoltaic manufacturer

by Gill Montia

Story link: Munich Re reinsurers Chinese photovoltaic manufacturer

Munich Re is reinsuring performance guarantees for Chinese photovoltaic manufacturer, Yingli Green Energy, regarding its multi-crystalline modules. The cover aims to help Yingli manage the long-term technical guarantee risk on its balance sheet. Among other things, the agreement covers the risk of the firm’s multi-crystalline modules failing to achieve, during the first ten years, a […]



Mental health main secondary condition for work absentees

by Gill Montia

Story link: Mental health main secondary condition for work absentees

Analysis by Legal & General (L&G) of research into the Department of Work and Pensions Fit for Work Service shows that 73% of respondents who were absent from work reported more than one health condition, with mental health illnesses the most commonly reported secondary condition. For example, 44% of respondents who reported that their main […]



Aon partners with Space Expedition Corporation

by Gill Montia

Story link: Aon partners with Space Expedition Corporation

Aon Risk Solutions has formed a partnership with Space Expedition Corporation (SEC), the Netherlands-based space tourism company. The two have designed an insurance policy providing customised protection for space tourists regarding losses related to flight cancellation, postponement or temporary interruption. Based upon regular non-appearance cancellation cover, the policy also includes additional supplemental coverage. SEC will […]



December 11, 2012

Beazley announces new property division leader

by Richard Kilner

Story link: Beazley announces new property division leader

Beazley plc has announced that Jonathan Gray, leader of the property division for 20 years and a director for the last 11, has indictaed his intention to resign from the board in July of 2013. Gray will retain his position as a director of the group’s Lloyd’s managing agency, Beazley Furlonge Limited. He is to […]