Insurance news

• Regazzoni quits Amlin following restructure

  14-01-2015 19:35
  Philippe Regazzoni, the CEO of Amlin's reinsurance subsidiary
  Amlin AG and an Amlin Management Committee member, has left the
  company with immediate effect, sister publication
  Inside FAC has revealed.
  His departure comes six months after Amlin reorganised into a
  tripartite structure split between global marine, P&C and a new
  global reinsurance division led by Kevin Allchorne, previously head
  of London market reinsurance.
  A memo seen by Inside FAC sent by Amlin Group CEO Charles
  Philipps
  
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• UK braces for more bad weather after day of disruption

  14-01-2015 17:41
  Met Office warns of gales and heavy rain this evening and tomorrow
  
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• Aviation underwriters in fight to preserve rate increases: JLT

  14-01-2015 17:38
  Aviation underwriters are set to fight hard in 2015 to retain
  the progress they achieved on premium levels last year, according
  to broker JLT.
  In its December "Plane Talking" aviation market
  report, published today (14 January), JLT's chairman of
  aerospace Nigel Weyman said underwriters will strive to build on
  gains made in the latter part of last year.
  Major aviation losses last year, including Malaysia Airlines
  flights MH370 and MH17, as well as TransAsia flight GE222, are set
  to
  
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• Validus launches property brokerage unit in Boston

  14-01-2015 16:48
  Validus has continued to expand its presence in the US with the
  launch of a new property brokerage unit and the opening of a Boston
  office.
  The move comes after the Bermudian short-tail carrier boosted
  its presence in the country through its recently completed
  acquisition of Western World.
  The new Boston operation - Validus Underwriters - will house the
  firm's property brokerage team, which will produce US surplus
  lines business solely through wholesale brokers. The business will
  be written
  
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• Cheesegrater loses third bolt

  14-01-2015 15:10
  A third bolt has fallen off the Cheesegrater, Aon’s new global headquarters, an investigation by the building’s developer has revealed.
  
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• More Than exploring pet telematics offering

  14-01-2015 12:55
  
  Katie Marriner Postonline
  
  
  More Than is considering a telematics-type offering for pets with a view to launching a product later this year.
  
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• HIIG acquires A&H specialist Elite

  14-01-2015 12:49
  Houston International Insurance Group (HIIG) has closed a deal
  to acquire accident and health (A&H) managing general
  underwriter Elite Underwriting Services, the firm announced on 12
  January.
  Current Elite CEO Matthew Naylor will become executive vice
  president of HIIG's newly formed A&H division, which will
  operate under the name of HIIG-Elite Underwriting Services.
  Pennsylvania-based Elite specialises in excess medical
  insurance, as well as other specialty A&H products, and
  cur
  
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• Capita hires new business development head

  14-01-2015 12:18
  Stuart Welsman joins from Ernst & Young
  
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• THB hires Arch US transport team members

  14-01-2015 11:50
  International and Lloyd's broker THB has hired three former
  Arch Intermediaries brokers to join its US transportation team, the
  firm said today (14 January).
  Jonny Humphreys will lead the team, reporting to Darren
  Nightingale, head of THB's transport division.
  He is joined by David Edgerton and Clare O'Connor. The trio
  will join THB's existing team with immediate effect.
  THB CEO Frank Murphy commented: "With our strong links to
  the US market, we see transportation as a signi
  
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• Axa Art appoints quartet of regional CEOs

  14-01-2015 11:28
  
  Mark Sands Postonline
  
  
  Axa Art has shuffled its global leadership by appointing four new regional CEOs taking their roles with immediate effect.
  
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• Brit to take space in Cheesegrater

  14-01-2015 11:21
  Insurer will join Amlin and Aon in new skyscraper
  
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• QBE hires Canopius veteran Mike East as claims technical director

  14-01-2015 11:16
  QBE European Operations has appointed former Canopius head of
  claims Mike East as claims technical director, the firm announced
  today (14 January).
  East, who had been at Lloyd's (re)insurer Canopius since
  2006, is expected to take up the role in April 2015.
  He will be based in London and will report to claims director
  Dominic Clayden.
  Clayden commented: "[East's] proven track record of
  managing high value and complex claims as well as implementing
  successful claims strategies will b
  
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• QBE takes Canopius claims head Mike East

  14-01-2015 11:07
  Canopius promotes deputy claims head Fiona Sperry to replace him
  
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• Canopius claims head East resigns ahead of QBE move

  14-01-2015 10:35
  
  Callum Brodie Postonline
  
  
  QBE European Operations has appointed Canopius head of claims Mike East to the role of claims technical director.
  
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• Post magazine – 15 January 2015

  14-01-2015 10:30
  
  John Winfield Postonline
  
  
  The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS App Edition on the App Store or read the Post Digital Edition online.
  
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• Hiscox to buy MGA and HNW provider from R&Q

  14-01-2015 10:11
  Deal expected to complete this quarter of 2015.
  
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• R&Q agrees sale of marine services and HNW units to Hiscox

  14-01-2015 10:11
  Legacy-to-live insurance services company Randall & Quilter
  (R&Q) has announced a preliminary agreement to sell its R&Q
  Marine Services and Synergy Insurance Services units to Hiscox.
  The firm said this morning (14 January) that the potential sale
  was part of the targeted disposal plan mentioned in a trading
  update back in November.
  R&Q Marine Services is an underwriting agency specialising
  in yachts and the general marine leisure industry. The unit
  produced £17mn of gross w
  
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• Hardy continues casualty push with new hires

  14-01-2015 10:11
  CNA Lloyd's subsidiary Hardy Underwriting has expanded its
  casualty division by hiring Jeremy Smart and Steve Piper,
  The Insurance Insider can reveal.
  Smart, formerly casualty class underwriter at Aegis London, will
  take on the role of head of international casualty.
  Piper will join Hardy on 26 January as head of UK casualty.
  Previously, he was head of London Market, UK and Ireland liability
  at Australia-headquartered carrier QBE.
  In May last year, Hardy hired former QBE executive Craig Benn
  
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• Cooley launches London market practice with Edwards Wildman raid

  14-01-2015 10:11
  US law firm Cooley has launched a London market practice after a
  major team raid, luring lawyers from Edwards Wildman and Morrison
  & Foerster.
  The two firms are both subsidiaries to US parents.
  On 12 January, Cooley officially took on the former Edwards
  Wildman office as well as around 90 percent of its staff.
  On the same day that Cooley was incorporated in the UK, US legal
  giant Lock Lorde acquired Edwards Wildman in a reported $675mn
  merger deal.
  Traditionally...
  
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• Staveley Head hires two for growth push in 2015

  14-01-2015 10:05
  Lisa Bainbridge and Susan Rowland join the broking firm.
  
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• 2014 strong year for SMEs

  14-01-2015 10:00
  But research shows that over 200,000 companies in the UK are not covered by insurance.
  
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• Hiscox buys two MGAs from Randall & Quilter

  14-01-2015 09:46
  
  Andrew Tjaardstra Postonline
  
  
  Hiscox has bought two London-based managing general agents R&Q Marine Services and Synergy Insurance from Randall & Quilter Investment Holdings.
  
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• Hiscox agrees MGA sale with R&Q

  14-01-2015 09:24
  R&Q says disposals do not signal strategic shift
  
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• Hiscox agrees MGA purchase from R&Q

  14-01-2015 09:24
  R&Q says disposals do not signal strategic shift
  
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• Cyber named in top five business risks for first time: Allianz

  14-01-2015 08:52
  Following a string of cyber attacks in 2014, businesses have named
  cyber crime as one of its top five risks for the first time,
  according to new research from Allianz Global Corporate &
  Specialty (AGCS).
  The carrier's fourth annual Risk Barometer report found that
  cyber crime was now the third biggest peril, up from 15th in 2013
  and 8th last year.
  Data from AGCS showed that cyber attacks were increasing, both
  in number and sophistication. On average the damage caused...
  
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• BI tops Allianz global risk survey for third year

  14-01-2015 08:26
  Business interruption (BI) and supply chain risk have been named as
  the top peril facing businesses for the third year in a row,
  according to research from Allianz Global Corporate & Specialty
  (AGCS).
  In its fourth Risk Barometer report, AGCS found that almost half
  (46 percent) of respondents rated this risk above all of the
  others, up 3 percentage points year-on-year.
  The average BI claim is currently $1.36mn, 32 percent higher
  than the average direct property damage claim ($1.03mn), the...
  
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• Taken for a ride by the Post Office when I insured my motorcycle

  14-01-2015 08:00
  
  It cancelled my policy then sent me a bill in a postcode lotteryI accepted a quote from the Post Office to insure my motorcycle. A few days after I’d paid the premium, I received a letter telling me that the cover had been cancelled because I keep the bike in my father’s garage during winter, and on my drive in better weather. The two houses are less than a quarter of a mile apart, but the fact that they bear different postcodes made this unacceptable. I was offered an alternative (at nearly
  
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• One in 20 SMEs have no insurance

  14-01-2015 07:31
  38% said they saw no need for taking out a policy
  
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• Cigna moves into New Zealand over fifties travel market

  14-01-2015 03:43
  
  Andrew Tjaardstra Postonline
  
  
  Cigna New Zealand has unveiled its first own branded online travel insurance product aimed at the mature traveller.
  
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• SMEs vulnerable to fines by skimping on insurance cover

  14-01-2015 01:05
  
  Katie Marriner Postonline
  
  
  More than 200,000 UK SMEs do not have insurance cover in place, according to research from LV Broker.
  
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• Reputation, cyber crime fears surge in AGCS risk survey

  14-01-2015 01:00
  Mark Sands Postonline
  
  
  Rising concerns over loss of reputation and instances of cyber crime have dominated the UK results of Allianz Global Corporate & Specialty’s most recent risk barometer survey.
  
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