Insurance news

• Time to dig deep? Big miners face a big problem

  24-09-2015 20:54
  
  Most industrial commodities are oversupplied, with the feared slowdown in China only deepening the miners’ woesHow severe is the crisis in the world of over-borrowed big miners? Here’s an illustration. Anglo-American, a company founded in 1917, employing 148,000 people around the world and generating sales last year of almost £20bn, now has a stock market value of £8.7bn.By contrast, Next, the clothing chain with a £4bn turnover, is worth £11bn. Even Whitbread
  
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• Towergate client money director to leave

  24-09-2015 17:01
  
  Howden’s Nigel Dearsley to replace outgoing Richard Shannon as head of Leeds accounting centre
  
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• RMS(one) 'on track' for 2016 launch

  24-09-2015 16:45
  Modelling company RMS has said that its RMS(one) platform is
  "on track" to launch next year.
  In a pre-close trading statement released this morning (24
  September), parent company Daily Mail and General Trust revealed
  that RMS's core revenues had climbed by 1 percent. However,
  including the expected lower RMS(one) consultancy revenues, overall
  underlying revenues were flat.
  The performance reflected client consolidation and challenging
  conditions in the reinsurance market, offset by strong renewa
  
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• Bicycles most common theft claim for Direct Line

  24-09-2015 15:49
  
  Katie Marriner Postonline Bicycles make up 17% of all theft claims handled by Direct Line, proving to be a more popular theft target than mobile phones or tablets.
  
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• Apollo names top management for new managing agency

  24-09-2015 14:47
  Apollo has announced David Ibeson as CEO of its new managing agency
  Apollo Syndicate Management Limited.
  According to a statement on the Lloyd's website, Apollo has
  also appointed Nicolas Jones as director of underwriting and James
  MacDiarmid as finance director.
  Philip Ellis will take on the role of chief risk officer, while
  Simon White will become claims director.
  Apollo has also named Julian Cusack as non-executive chairman.
  Anthony Huise, Jayne Owen and Sven Althoff were appointed as
  non-exe
  
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• Richard Shannon, client money and IBA chief, departs Towergate

  24-09-2015 14:46 via insuranceage.co.uk
  
  Shannon to be replaced by Nigel Dearsley from Howden.
  
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• Century Underwriting launches property owners product

  24-09-2015 14:26 via insuranceage.co.uk
  
  MGA also appoints Martin Hughes to lead its UK property division.
  
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• Brown says new management team will rejuvenate Towergate

  24-09-2015 13:52
  
  Interim chief exec and soon to be underwriting boss sees Towergate as the future go-to place for brokers
  
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• Brown pledges to build on Nathan's work at Towergate

  24-09-2015 13:45 via insuranceage.co.uk
  
  Adrian Brown says he aims to grown the MGA and build on relationships.
  
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• London brokers in historic e-placement commitment

  24-09-2015 12:47
  Senior executives of 16 broking firms representing more than 80
  percent of business placed in the London market have made a formal
  commitment to electronic placement of insurance in the city through
  the nascent Placing Platform Limited (PPL) electronic placing
  platform.
  The communiqué, signed through the auspices of the London
  & International Insurance Brokers' Association (Liiba)
  board, was revealed by Steve Hearn, chairman of the London Market
  Group (LMG), at a market-wide forum hel
  
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• LMG to produce kitemark for London market insurance

  24-09-2015 12:47
  The London Market Group (LMG) has enlisted Hiscox's chief
  operating officer Sasa Brcerevic to develop a kitemark for the
  insurance industry in an effort to better promote the London market
  overseas.
  Speaking at the LMG forum this morning (24 September), LMG
  chairman Steve Hearn said that there was a need to give emerging
  market customers an incentive to "shop in our
  market".
  He added that creating an emblem that embodied the benefits from
  being "the only true insurance cluster" would...
  
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• LMG: ILS tax reform would level playing field for London

  24-09-2015 12:47
  The London Market Group (LMG) is looking at proposals to make
  London more tax efficient in order to compete as a domicile for
  insurance-linked securities (ILS) business, its chairman Steve
  Hearn announced today (24 September).
  Speaking at the LMG Forum, Hearn described the "vital"
  importance of nurturing and retaining ILS expertise in order for
  London to maintain its relevance in the future.
  While the market can work to ensure that the intellectual
  capital deployed to manage funds and construct
  
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• Hearn extends LMG chairmanship ahead of London Matters response

  24-09-2015 12:44
  
  Callum BrodiePostonline The London Market Group has unveiled a number of steps in responding to the challenges of the London Matters report, which has led to Steve Hearn extending his chairmanship of the LMG until the end of 2016.
  
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• Nathan seeks “fresh challenge” on leaving Towergate

  24-09-2015 12:10 via insuranceage.co.uk
  
  Underwriting CEO set to hand over to Adrian Brown.
  
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• Nathan steps down as Towergate underwriting chief end-October

  24-09-2015 11:47
  
  Clive Nathan will be replaced as underwriting chief executive by Adrian Brown on 1 November
  
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• Clive Nathan to leave Towergate

  24-09-2015 11:27 via insuranceage.co.uk
  
  Chief executive officer of underwriting at the consolidator to depart at the end of January 2016.
  
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• Pro Global records small profit for H1

  24-09-2015 10:55
  Pro Global, the UK-listed outsourcing firm that demerged from
  struggling legacy carrier Tawa last year, has recorded a
  £90,000 ($137,385) operating profit for the first six months
  of the year.
  The result was a marked improvement from H1 2014, which saw the
  firm generate a £1.6mn loss over the period.
  Including the net gain from investing activities, total profit
  for the group was £0.4mn compared to £2.9mn in the
  comparative period although H1 2014 included £4mn of p
  
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• UK insurers paying out £77m daily, says ABI

  24-09-2015 10:52 via insuranceage.co.uk
  
  Trade body's research shows insurers pay out more on claims daily than ever before.
  
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• Broker Technology 2015: live updates

  24-09-2015 10:36
  
  The Insurance Times editorial team brings you all the latest updates from the event in London on 24 September as they happen
  
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• ‘Crash for cash’ fraudsters demanding money from victims

  24-09-2015 10:02
  
  New version of scam like ‘highway robbery’
  
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• ‘Crash for cash’ fraudsters demanding cash from victims

  24-09-2015 10:02
  
  New version of scam like ’highway robbery’
  
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• Europe: Can insurers navigate the Arctic waters?

  24-09-2015 10:00
  
  Tim Evershed Postonline Insurers have traditionally been reluctant to underwrite Arctic shipping: the risks of injuries and pollution have been high and unpredictable.
  
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• Pro Global reports first half profit

  24-09-2015 09:39
  
  Outsourcer says on track to deliver strategic goals
  
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• QuestGates retains top customer service rating

  24-09-2015 09:20
  
  Loss adjuster wins three star rating for second year running
  
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• Live blog: Insurance Data & Analytics 2015

  24-09-2015 08:37
  
  Post Online Postonline Can't make it to the Radisson Bloomsbury for Post's Insurance Data & Analytics event?
  
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• Insurance Data & Analytics 2015 as it happened

  24-09-2015 08:37
  
  Post Online Postonline Couldn't make it to the Radisson Bloomsbury for Post's Insurance Data & Analytics event?
  
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• UK insurers pay out £77m a day in claims

  24-09-2015 08:30
  
  Highest figure ever, says ABI, which says households are still underinsured
  
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• Higos close to another acquisition following AJP deal

  24-09-2015 07:30
  
  2014 was ‘the toughest year I have ever had’, says MD Ian Gosden
  
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• Ace to underwrite Calliden home insurance policies

  24-09-2015 04:05
  
  Andrew Tjaardstra Postonline Steadfast-owned Australian underwriting agency Calliden has appointed Ace to underwrite its home insurance policies.
  
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• UK motor market chalked up collective loss of £31m in 2014

  24-09-2015 01:05
  
  Marcus Alcock Postonline UK motor insurers continued to struggle in 2014, posting a collective loss of £31m, according to analysis by the Association of British Insurers.
  
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