Insurance news

• Enstar subsidiary takes Reciprocal workers' comp run-off

  16-01-2015 18:09
  Enstar subsidiary Providence Washington Insurance Company has
  acquired a $164mn book of run-off workers' compensation
  business from Reciprocal of America, which has been in receivership
  since 2003.
  Enstar CEO Dominic Silvester said in a press release, published
  by Nasdaq on 15 January, that the $163.8mn of liabilities assumed
  were within the firm's core competency of workers'
  compensation run-off.
  The loss portfolio transfer reinsurance transaction completed
  after being approved by t
  
  Read more

• Willis creates new Willis GB unit as part of group-wide restructure

  16-01-2015 18:06
  New division comprises UK retail, facultative and London specialty businesses
  
  Read more

• Airmic welcomes Insurance Bill warranty amendment

  16-01-2015 16:44
  
  Francesca Nyman Postonline
  
  
  Risk management association Airmic has welcomed the reinstatement of a clause in the Insurance Bill that means insurers can deny cover for warranty breaches only if they are relevant to the risk.
  
  Read more

• Willis unveils further restructuring

  16-01-2015 16:16
  Global broking group Willis has announced that it has
  restructured into four operating segments from its original
  three.
  The move, which took effect at 1 January, divided the previous
  Willis Global, Willis North America and Willis International units
  into four separate divisions: Willis Capital Wholesale and
  Reinsurance (WCWR), Willis North America, Willis International, and
  Willis Great Britain (Willis GB).
  The broker said that Willis North America and Willis
  International - which will continue
  
  Read more

• Advertisement

• Ace promotes Langdon to global head of upstream energy

  16-01-2015 16:16
  Global insurer Ace has promoted James Langdon, formerly
  Lloyd's market manager for energy within Ace Global Markets, to
  global head of upstream energy.
  In his new role, which takes effect immediately, Langdon will be
  responsible for the development of Ace's upstream energy retail
  insurance portfolio across its international network. In addition,
  he will continue to manage and build Ace's expanding book of
  London-based wholesale business.
  Langdon will be based in London and report to
  
  Read more

• Markel UK closes Bridport office

  16-01-2015 16:14
  Two-person operation dealt with insurance for art and collectables
  
  Read more

• Jim Sutcliffe exits Financial Reporting Council amid Quindell share option row

  16-01-2015 15:45
  Sutcliffe oversaw the FRC code which recommends non-exec directors should not receive options in their pay deals
  
  Read more

• Close Premium Finance moves brokers' customer agreements online

  16-01-2015 14:30
  Brokers can now scan and upload a customer’s signed credit agreement into CBPF’s i-prompt platform
  
  Read more

• Advertisement

• Towergate secured creditors submit formal takeover bid

  16-01-2015 12:20
  Bid includes new money facility for cash-strapped broking group
  
  Read more

• Blog: What impact would Cameron's encryption ‘ban' have on the insurance industry?

  16-01-2015 12:00
  
  Neil Gurnhil Postonline
  
  
  In light of the recent events in Paris, one of the biggest stories following the tragedy has been the response from the UK government on measures to help prevent any future attacks on the UK regarding the surveillance of electronic communications.
  
  Read more

• Creditors offer £1 plus debt for Towergate

  16-01-2015 11:48
  Formal offer submitted but Towergate still open to further approaches.
  
  Read more

• QBE's credit outlook revised to stable

  16-01-2015 11:46 via insuranceage.co.uk
  AM Best says move follows series of capital actions to reduce the group’s financial leverage.
  
  Read more

• Close Brothers Premium Finance adds to electronic system for brokers

  16-01-2015 11:43
  Firm says it expects to receive 90% of agreements electronically by the end of 2015.
  
  Read more

• The Insurance Bill: What brokers need to know

  16-01-2015 11:21
  Terry Renouf, partner at law firm BLM, picks out some key points from the Insurance Bill, and outlines some of the details brokers need to know about.
  
  Read more

• Money Supermarket sees revenues jump 10% in 2014

  16-01-2015 11:21
  
  Francesca Nyman Postonline
  
  
  Price comparison website Money Supermarket expects to report a 10% increase in revenues to £248m for the 2014 financial year, with adjusted Ebitda expected to grow by 13% to approximately £95m.
  
  Read more

• Moneysupermarket predicts £95m profits for 2014

  16-01-2015 11:04 via insuranceage.co.uk
  Insurance revenue set to hit £138m.
  
  Read more

• Moneysupermarket expects 13% profit growth in 2014

  16-01-2015 10:34
  Flattening motor rates boost insurance price comparison revenue
  
  Read more

• Moneysupermarket expects 13% profit growth for 2014

  16-01-2015 10:34
  Flattening motor rates boost insurance price comparison revenue
  
  Read more

• Self-driving cars could be on the roads within two years – Google

  16-01-2015 09:42
  Google says test cars could be on the road in America by 2017 although it would still be a pilot
  
  Read more

• Supermarket suppliers facing trade credit insurance crisis

  16-01-2015 09:11
  Report reveals how suppliers are on the verge of collapse
  
  Read more

• QBE's outlook revised to stable

  16-01-2015 05:04
  
  Andrew Tjaardstra Postonline
  
  
  Australian (re)insurer QBE's ratings outlook has been upgraded after taking a number of capital measures.
  
  Read more

Follow @Insurance_UKnws on Twitter!