Insurance news

• Hamilton hires managing agency CFO

  23-09-2015 21:15
  Hamilton Underwriting, the managing agency of Syndicate 3334 and
  Hamilton's Lloyd's operations, has appointed Simon Barrett
  as CFO.
  Barrett joins the company after 12 years with XL Group, where he
  was responsible for strategic and annual business plans, monitoring
  financial results, and providing advice and input on new business
  initiatives.
  In addition, Barrett has more than 20 years in the non-life
  insurance industry in both Lloyd's and the company market. He
  has extensive boardroom experience
  
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• Cloutier: Brit investment in Ambridge indicative of deals to come

  23-09-2015 21:15
  Brit CEO Mark Cloutier has told The Insurance Insider that his
  firm's significant investment in transactional insurance MGU
  Ambridge Partners was a good example of the benefits to Brit of its
  partnership with Fairfax.
  The Lloyd's specialty (re)insurer unveiled the investment in
  the specialist US-headquartered underwriting group this morning (23
  September).
  "We only closed the Fairfax transaction in June and here we
  are in September announcing an interesting strategic move - it
  makes a statement
  
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• BB&T's Reece to retire at end of year

  23-09-2015 21:15
  BB&T Insurance Holdings chairman and CEO Wade Reece is set to
  retire at the end of 2015 after 37 years with the US broker.
  The executive built the BB&T Corporation subsidiary from a
  struggling insurance division with just $6mn of revenues in 1990 to
  the fifth largest broker in the US and sixth largest in the world
  with more than $1.7bn in revenue in 2014.
  Reece will be succeeded by John Howard, the vice chairman and
  CEO of BB&T's wholesale...
  
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• Covéa promotes Coffey as broker personal lines director

  23-09-2015 18:38 via insuranceage.co.uk
  
  Gary Yeates promoted to director of pricing and underwriting in personal lines.
  
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• Covéa announces two new directors amid management restructure

  23-09-2015 17:58
  
  The insurer is undergoing a restructure amid its merge with high net worth specialist Sterling
  
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• Covéa promotes Coffey and Yeates to director roles

  23-09-2015 17:50
  
  Katie Marriner Postonline Covéa Insurance has promoted Sue Coffey to personal lines intermediated distribution director and Gary Yeates to personal lines pricing and underwriting director.
  
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• Hamilton hires CFO

  23-09-2015 16:55
  Hamilton Underwriting, the managing agency of Syndicate 3334 and
  Hamilton's Lloyd's operations, has appointed Simon Barrett
  as CFO.
  Barrett joins the company after 12 years with XL Group, where he
  was responsible for strategic and annual business plans, monitoring
  financial results, and providing advice and input on new business
  initiatives.
  In addition, Barrett has more than 20 years in the non-life
  insurance industry in both Lloyd's and the company market. He
  has extensive boardroom experience
  
  Read more

• Volkswagen's coverage questioned as £4.7bn is earmarked for emissions scandal

  23-09-2015 14:01
  
  Katie Marriner Postonline Volkswagen is unlikely to be able to rely on insurance to protect it from exposure relating to falsified US emission tests in particular diesel models of its vehicles, loss adjuster Cunningham Lindsey anticipates.
  
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• Sutton Winson aims to grow trade credit by hiring Stuart Austen

  23-09-2015 13:30
  
  Austen will lead trade credit division and joins from Euler Hermes.
  
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• Video: The Co-operative Insurance directors James Hillon and Charles Offord

  23-09-2015 12:26
  
  Katie Marriner Postonline The Co-operative Insurance directors James Hillon and Charles Offord tell Post about the business's transformation plans.
  
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• Take-up of SME e-trading by brokers increasing

  23-09-2015 12:13
  
  Applied Systems event heard there are still obstacles with mid-range brokers lagging behind.
  
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• Swiss Re subsidiary to buy Guardian Financial Services

  23-09-2015 11:44
  Swiss Re subsidiary Admin Re has bought closed life insurer
  Guardian Financial Services for £1.6bn ($2.45bn), pipping
  rival closed life consolidator Phoenix Group to the post.
  The deal, announced today (23 September), will be financed using
  cash and debt and will bolster Swiss Re's position as one of
  the leading closed life book consolidators in the UK, the group
  said.
  The acquisition will bring 900,000 annuity, life insurance and
  pension policies from the UK and Ireland into Admin Re, tak
  
  Read more

• Safeonline announces cyber hires

  23-09-2015 11:44
  Independent broker Safeonline has announced the hire of four staff
  to bolster its cyber, professional and miscellaneous team.
  Adam Maher joins from broker Iris, having spent 13 years in the
  insurance industry within financial and professional lines, setting
  up binding authorities with leading Lloyd's syndicates in the
  casualty, professional and property markets.
  He joins Safeonline with his long-term colleague Ken Bilby to
  help grow the miscellaneous business and also increase
  Safeonline's binde
  
  Read more

• AGCS appoints Kirwan as UK head

  23-09-2015 11:44
  Allianz Global Corporate Specialty (AGCS) has appointed Brian
  Kirwan as chief executive of its UK business, with effect from 1
  October.
  Kirwan, who is currently London regional unit head of market
  management and communication at AGCS, will report to Carsten
  Scheffel, chief regions and markets officer at the corporate
  insurance arm of Allianz.
  He will also retain his regional responsibility for market
  management and communications.
  Since joining Allianz in 2011, Kirwan has held various executive
  
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• C-suite - Insurer: Changing the compensation mindset

  23-09-2015 11:29
  
  Steve Maddock Postonline Insurance fraud continues to be a huge concern for insurers in an environment of fierce competition and falling premiums.
  
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• RSA and AXA join Applied Systems panel with mini-fleet products

  23-09-2015 11:20
  
  AXA already trades its online SME products through Applied TAM
  
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• AGCS promotes Kirwan to UK CEO

  23-09-2015 11:03
  
  Katie Marriner Postonline Brian Kirwan has been promoted to UK CEO of Allianz Global Corporate and Specialty effective from 1 October.
  
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• Only three days left to share your views in our Sentiment Survey

  23-09-2015 11:02
  
  The twice-yearly surveys are a crucial barometer of market concerns and well read by insurers – take two minutes to share your thoughts.
  
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• Insurance lawyers back plan to exempt PI claims from court fee hike

  23-09-2015 10:49
  
  Court fee increase would have impaired personal injury claimants’ access to justice, argues FOIL
  
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• Applied adds mini-fleet to panel

  23-09-2015 10:42
  
  Products from Axa and RSA have are now available on the Applied Systems commercial lines panel.
  
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• Swiss Re's Admin Re unit buys Guardian Financial Services

  23-09-2015 10:41
  
  Francesca NymanPostonline Swiss Re’s business unit Admin Re has agreed to acquire closed life insurance fund consolidator Guardian Financial Services from private equity firm Cinven for £1.6bn.
  
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• Axa and RSA mini-fleet products added to Applied Systems' panel

  23-09-2015 10:30
  
  Callum BrodiePostonline Applied Systems is expanding its commercial lines panel with the addition of mini-fleet products from Axa and RSA.
  
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• Academy Insurance rebrands acquisitions

  23-09-2015 10:17
  
  Broker also reveals intention to buy in Gloucestershire, Worcestershire and Herefordshire.
  
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• Allianz GCS appoint new chief executive

  23-09-2015 10:10
  
  Kirwan previously spent time as director of Allianz Risk Transfer
  
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• RAC partners with Hood Group on travel product

  23-09-2015 10:00
  
  The policies will be underwritten by AXA
  
  Read more

• RAC partner with Hood Group on travel product

  23-09-2015 10:00
  
  The policies will be underwritten by AXA
  
  Read more

• Brit increases US exposure with Ambridge Partners investment

  23-09-2015 09:46
  
  Francesca NymanPostonline Brit has made a strategic investment in long-time trading partner Ambridge Partners.
  
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• Brit invests in MGA Ambridge as US expansion continues

  23-09-2015 09:17
  Ambridge is based in both London and New York
  
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• MP calls on FCA to take 'decisive action' on auto-renewals

  23-09-2015 09:04
  
  The call comes after reasearch done by aggregator site MoneySuperMarket
  
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