Insurance news

• BB&T buys strategic stake in Miller from Willis

  01-10-2015 22:09
  Major US retail and wholesale insurance broker BB&T has agreed
  to buy a 16.9 percent stake in Miller Insurance Services and
  entered into a partnership with the Lloyd's broker and its
  majority owner Willis.
  BB&T, which owns the fifth biggest broking group in the US,
  including US wholesalers Crump and CRC Insurance Services, has
  acquired the stake from Willis through its BB&T IHC
  International subsidiary.
  Willis will continue to hold the majority interest, retaining
  68.1 percent. Partn
  
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• 'We never stopped making acquisitions' - Gallagher's Chilton

  01-10-2015 17:37
  
  Gallagher is involved in a number of acquisitions that are going through the approval process
  
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• Chilton: Gallagher integration will continue into next year

  01-10-2015 17:24
  
  Company is trying to consolidate around five or six regulated entities
  
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• Hiscox reveals HNW history

  01-10-2015 17:02 via insuranceage.co.uk
  
  Robert Hiscox, founder of Hiscox, discusses the history of the insurer and the HNW market ahead of the HNW Forum later this month.
  
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• Sompo expects $285mn Typhoon Goni bill

  01-10-2015 16:29
  Sompo Japan Nipponkoa is set to absorb 34.1bn yen ($285mn) of
  insured losses from August's Typhoon Goni, the Japanese
  insurance giant indicated today (1 October).
  Referred to as typhoon number 15, Typhoon Goni devastated parts
  of the Philippines, the Korean peninsula and Japan in late August,
  claiming at least 70 lives and damaging tens of thousands of homes,
  according to Aon Benfield's Impact Forecasting arm.
  The carrier said that the bulk of losses (29.2bn yen or 86
  percent) stemmed from...
  
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• Eiopa to extend Bernardino's chairmanship

  01-10-2015 16:29
  Gabriel Bernardino will serve a second five-year term as chairman
  of the European Insurance and Occupational Pensions Authority
  (Eiopa).
  According to a statement Eiopa released today (1 October), the
  board of supervisors agreed to extend Bernardino's term to
  2021, based on the evaluation of his work and the results
  achieved.
  The extension of Bernardino's term of office is subject to
  confirmation by the European Parliament.
  Bernardino began his career in 1989 as an actuary in his native
  country o
  
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• BIBA switch travel scheme from Tokio Marine to DTW1991

  01-10-2015 15:36
  
  Tokio Marine Kiln provided the service for 8 years
  
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• Biba teams up with DTW1991 on holiday travel scheme

  01-10-2015 15:27 via insuranceage.co.uk
  
  New policy replaces trade body's arrangement with Tokio Marine.
  
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• EPU unveils £300mn capacity deal with HDI-Gerling

  01-10-2015 14:06
  Managing general agency (MGA) European Property Underwriting (EPU)
  has entered into a £300mn capacity arrangement with German
  insurance group HDI-Gerling.
  The authorisation, which also involves (re)insurance
  participations from Liberty Mutual Insurance and Swiss Re Corporate
  Solutions, will enable the property owners MGA to write line sizes
  in excess of £300mn.
  Richard Taylor, managing director of HDI-Gerling UK, explained
  that the relationship with EPU had created an opportunity for
  
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• Markerstudy completes fifth 2015 acquisition with AA Autowindshields deal

  01-10-2015 13:35
  
  Katie Marriner Postonline Auto Windscreens has completed its acquisition of AA Autowindshields resulting in 200 staff joining the Markerstudy group.
  
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• Pen Underwriting looking at further acquisitions

  01-10-2015 13:01
  
  Managing director Mark Armitage also says new underwriting areas being developed.
  
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• Marine broker expands into energy amid rebrand

  01-10-2015 12:23
  
  Atlantic (UK) Brokers has rebranded itself to ATL Marine and Energy
  
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• GRP’s property MGA in capacity deal with HDI, Liberty and Swiss Re

  01-10-2015 12:19
  
  Existing capacity deal with QBE will now wind down
  
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• CFC to offer clients free Cyber Essentials

  01-10-2015 12:18
  
  James Verrinder Postonline Specialist lines underwriting agency CFC will provide its clients with free Cyber Essentials certification through its newly launched cyber portal.
  
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• Gallagher underwriting divisions merger will improve offering

  01-10-2015 12:07
  
  OIM Underwriting teams will now be known as Pen Delegated Solutions
  
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• Allianz names new loss adjuster panel following FCA review

  01-10-2015 11:44
  
  James Verrinder Postonline Allianz has announced its new panel of loss adjusters following a thorough tender process.
  
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• GRP's property owners MGA secures HDI Gerling-led capacity deal

  01-10-2015 11:34
  
  Callum BrodiePostonline Global Risk Partners’ property owners managing general agent European Property Underwriting has secured a capacity arrangement led by HDI Gerling, with major co/reinsurance input from Liberty Mutual Insurance and Swiss Re Corporate Solutions.
  
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• Climate Wise CEOs call for more action to slow climate change

  01-10-2015 11:28
  
  James Verrinder Postonline The leaders of 15 Climate Wise members have written to the governor of the Bank of England Mark Carney and the Prudential Regulation Authority for more collective action to reduce the risk of climate change impacting society and, ultimately, the insurance industry.
  
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• OIM rebrands to Pen Underwriting

  01-10-2015 11:22
  
  Expanded group creates £500m business.
  
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• Seventeen Group aims to double in size over five years

  01-10-2015 10:56 via insuranceage.co.uk
  
  Managing director Paul Anscombe also says the group is currently in negotiations for acquisitions.
  
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• SMEs' concerns over competition increasing, Zurich research finds

  01-10-2015 10:53
  
  Katie Marriner Postonline Small and medium-sized enterprises globally are increasingly concerned about the impact of competition on margins and a lack of consumer demand, according to Zurich's third annual global SME survey.
  
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• Pen takes Paul Broadbent from Towergate

  01-10-2015 10:45 via insuranceage.co.uk
  
  He joins Gallagher-owned MGA from the M&A team at Towergate.
  
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• Europe: Insurers see opportunities in Chinese volatility

  01-10-2015 10:30
  
  Steve Tolley Postonline Insurers are confident they see opportunities arising from the recent Chinese stock market volatility, despite AM Best warning it could make it even harder to find good returns.
  
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• Principal buys motor broking business from Marsh

  01-10-2015 10:28 via insuranceage.co.uk
  
  All six staff at the Kendal-based office are transferring with the business.
  
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• Vincenz takes up post as Helvetia chairman

  01-10-2015 10:02
  
  Katie Marriner Postonline Pierin Vincenz has today (1 October) taken up the role of chairman of the board of directors at Helvetia group.
  
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• CFC to offer Government backed cyber accreditation for free

  01-10-2015 10:01
  
  The underwriting agency has long been at the forefront of cyber development, launching an online advice hub last month
  
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• CDL launches online tool for Gallagher-owned broker

  01-10-2015 09:19
  
  Rossborough serve customers across the Channel Islands
  
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• Principal buys Marsh’s Kendal-based motor broker

  01-10-2015 07:30
  
  Manchester-based broker makes first acquisition and looks for more
  
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• Cooper Gay’s profit did not cover interest in year to June – Moody’s

  01-10-2015 07:30
  
  Rating agency continues review of indebted broker’s ratings for possible downgrade
  
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• Asta's MGA platform hires Holm

  01-10-2015 01:08
  Asta's recently launched manging general agency (MGA) platform,
  Asta Underwriting Management (AUM) has appointed John Holm as
  executive, MGA investments.
  Holm joins from Capita Commercial Insurance Services where he
  was executive director and was responsible for developing
  Capita's presence in the MGA market.
  Before that, he was director of corporate banking at Clydesdale
  Bank and has also held senior positions at National Australia Bank
  and RBS.
  Commenting on the hire, Asta chief executive Juli
  
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• Ace sets 22 October shareholder meeting for Chubb deal

  01-10-2015 01:08
  Ace has set a date of 22 October 2015 for an extraordinary general
  meeting of its shareholders to vote on the share issue, name change
  and other matters relating to its proposed $28.3bn acquisition of
  Chubb.
  The transaction is slated to close in the first quarter of 2016,
  with Chubb shareholders to receive $62.93 a share along with 0.6019
  Ace shares.
  In a 425 filing with the SEC today (30 September), Ace put
  forward a series of amendments to its...
  
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