Group income protection (GIP) claims for mental health are at their highest in the “Finance and Insurance” sector, according to Legal & General. The insurer has recently published an analysis of its GIP claims since 2000 with the figures showing that overall, 31% of claims were for mental health issues such as stress and depression, [...]
Friends Life has announced two appointments to the senior management team of its protection business. Mark Anders becomes sales and marketing director for individual protection and David Williams becomes director of group protection; both will report to Steve Payne, managing director of UK protection. Mr Anders will take up his new role at the beginning [...]
Bermuda-based Ironshore Insurance Ltd. has announced that it is opening a new office in Singapore as its latest step in global expansion. The Singapore branch is to be led by Principal Officer Chen Dai, who is to be tasked with fostering regional growth. Dai will also be responsible for the firm’s suite of Property and [...]
The H. W. Kaufman Financial Group has announced its purchase of London-based broker and underwriter Chesterfield Group, Ltd. The acquisition expands Kaufman’s international insurance presence, as Chesterfield has companies in the UK, USA and Canada. President, Chairman and Chief Executive Officer Alan Jay Kaufman described the acquisition as an important addition to Kaufman Financial Group, [...]
MetLife has promoted Mike Hocking to the post of regional sales director for the Midlands. Mr Hocking joined the life and pensions provider in 2010 as senior sales development manager in the South West and will now run the team covering the central region. Previously, he held the post of managing director and group sales [...]
AmWINS Group, Inc. has announced that its acquisition of THB Group plc has been completed. Independent insurance and reinsurance broker and risk management business THB is principally based in the London insurance and reinsurance market, and its global network of offices enables it to serve clients and markets in the UK and internationally. Following the [...]
Commercial insurer NIG has announced that it is bringing the remaining part of its risk management process in-house to better cater to the needs of its customers. From the start of this week the new Risk Management Support Team has operated from the firm’s Peterborough offices. The new team will now follow up risk improvement [...]
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. [...]
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 [...]
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 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 [...]
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 [...]
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 [...]
Groupama says it has reluctantly taken the decision to begin the process of divesting its entire UK operations and is now seeking a new owner for its various UK-based interests. The decision follows a strategic review of the French insurer’s core insurance assets as part of ongoing plans to boost its capital base. Spontaneous expressions [...]
Legal & General has put in place its first longevity insurance arrangement. The deal, with the Trustee of the Pilkington Superannuation Scheme, insures against the risk of 11,500 current pensioners in the scheme living longer than expected. Associated liabilities amount to around £1 billion and L&G has also entered into a longevity reinsurance agreement with [...]
Old Mutual is selling Skandia Insurance Company to Swedish Life insurer, Skandia Liv, for £2.1 billion. The divestment comprises Old Mutual’s long-term savings and banking operations in Sweden, Denmark and Norway, operating under the Skandia brand. Proceeds of sale will be used to reduce group debt, with any surplus capital returned to shareholders in due [...]
Liberty Syndicates, part of the Liberty Mutual Group, has appointed Peter Sprent to lead its global financial risks team. According to the firm, Mr Sprent is regarded by the industry as a leading political risk and trade credit underwriter. He takes over from Matthew Moore, whose responsibilities as chief underwriting officer for the £910 million [...]
International law firm, Simmons & Simmons, has appointed Pollyanna Deane as a partner at its London-based corporate & commercial unit. She will join the firm on 16th January 2012, moving from Berwin Leighton Paisner. Ms Deane focuses on corporate transactional and regulatory advisory work in the insurance sector and clients include reinsurers, insurers, mutuals, intermediaries [...]
Legal & General is continuing its campaign on boardroom diversity, saying it is “crucial” to a company’s long-term performance. The group’s new director of corporate governance at L&G Investment Management, Sacha Sadan, explains: “For a business to make the best decisions possible, the best quality information is required alongside rigorous debate. “This rigour is only [...]
