Insurance news

• Axis to close Australian retail in bid to boost profits

  07-10-2015 20:45
  Axis Capital is to wind down its Australian retail operations and
  make around 100 job cuts as part of a group-wide review, the
  specialty carrier announced today (7 October).
  The restructuring is intended to slash expenses and will result
  in a pre-tax reorganisation charge of approximately $51mn, or $0.51
  per share, during the third quarter. The company aims to generate
  annual run-rate pre-tax cost savings of approximately $30mn from
  the actions, the majority of which will be realised in 2016....
  
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• S&P affirms continued AA- rating for Zurich

  07-10-2015 18:06 via insuranceage.co.uk
  
  Ratings agency says outlook is stable for the insurer following RSA deal exit.
  
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• Man sentenced for trying to defraud QBE of £300k

  07-10-2015 17:12
  
  Gary Kittle exaggerated leg injury after ladder fall
  
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• QBE's private prosecution sees fraudster jailed

  07-10-2015 16:24
  
  James Verrinder Postonline A fraudster has been given a 12 month custodial sentence as a result of a private prosecution launched by QBE.
  
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• Post magazine - 8 October 2015

  07-10-2015 16:14
  
  Cecile Brisson Postonline The latest issue of Post magazine is now available for Post subscribers. Download the latest Post iOS app edition in the App Store or read the Post digital edition online.
  
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• Claimant on hunger strike outside DLG offices in Bromley

  07-10-2015 15:33
  
  James Verrinder Postonline A disgruntled Direct Line Group customer has said he is willing to die outside the firm's Bromley office in a dispute over claims.
  
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• Aviva calls on brokers to keep up on digital

  07-10-2015 15:09 via insuranceage.co.uk
  
  Innovation experts insist that sector “must move to digital at the same pace as customers”.
  
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• Brightside COO Coram joins Das

  07-10-2015 15:04
  
  Tony Coram set to join Das Legal after just eight months at the broker.
  
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• Latest Brightside defectors to join DAS

  07-10-2015 14:44
  
  Tony Coram and Kate Banks heading to legal expenses insurer
  
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• Pool Re to host global terror reinsurance congress

  07-10-2015 14:12
  Leaders of national terrorism (re)insurance pools from around
  the world are to gather at the Royal Institution in London from 28
  to 30 October for the inaugural global terror reinsurance
  congress.
  Hosted by state-backed UK terror reinsurer Pool Re, the
  three-day event aims to drive the debate on issues affecting
  worldwide terrorism cover, including the role of governments in the
  provision of terrorism reinsurance.
  Terrorism pools from 14 countries have signed up to attend, and
  the Organisation f
  
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• Lockton appoints new Mena retail head

  07-10-2015 14:12
  Independent global broker Lockton has appointed Alan Corney as
  retail CEO for the Middle East and North Africa (Mena) region.
  Corney joins from Mubadala, the United Arab Emirates
  state-backed investment and development company, where he was
  senior vice president and head of group insurance.
  Wael Khatib, senior partner and chairman of Lockton (Mena)
  commented: "We have made terrific progress against the
  priorities we laid out when we set up our operation in the Dubai
  International Finance Centre
  
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• GRP raids Bluefin again as Thornton joins

  07-10-2015 14:12
  David Margrett's UK-based broker consolidator vehicle Global
  Risk Partners (GRP) has hired Neil Thornton as managing director
  for its retail broking business, the firm announced today (7
  October).
  Thornton joins from retail broker Bluefin, where he was most
  recently head of the commercial division.
  In his new role Thornton will be reunited with Mike Bruce, CEO
  of GRP's retail broking division, who moved from Bluefin in
  April this year.
  The hire marks another step in GRP's ambitious growth plans
  
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• GRP poaches Bluefin’s commercial head

  07-10-2015 14:03
  
  Neil Thornton to join consolidator as retail managing director
  
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• Global Risk Partners takes Thornton from Bluefin

  07-10-2015 13:59
  
  Neil Thornton joins Cullum-backed firm's retail broking business as managing director.
  
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• Zurich Private Clients' Enhanced Ultimate Travel and Ultimate Exclusive Travel products

  07-10-2015 13:44 via insuranceage.co.uk
  
  We are delighted to announce the launch of our enhanced Ultimate Travel and Ultimate Exclusive Travel products. We’ve worked hard to understand the risks that affect clients on their perfect getaway and have established cover that addresses these risks. Watch this video to find out more.
  
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• Post Q&A video: Legal indemnity insurance

  07-10-2015 13:17
  
  Legal indemnity insurance is often seen as an enigma by brokers and customers alike. In this video, Dave Carey, head of real estate, Zurich, sheds light on the main features of legal indemnity coverage, how it can speed up property transactions and opportunities for brokers to win new business.
  
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• Customer protests with hunger strike outside Direct Line HQ

  07-10-2015 12:14
  
  Protester vows he will stay hungry until he dies unless Direct Line Group meets his demands 
  
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• Validus Re appoints LatAm head of treaty

  07-10-2015 11:38
  Validus Re has appointed Jorge Beltran as executive vice president
  and head of treaty of Latin American unit Validus Reaseguros, it
  announced today (7 October).
  Beltran will be responsible for the implementation and execution
  of Validus Re's treaty strategy in Latin America.
  He has been at Validus Reaseguros in Miami since 2007. Most
  recently, he held the position of treaty manager for the
  business.
  Before his time at Validus, Beltran held a number of senior
  positions at various companies includ
  
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• Autonet turnover hits £37.2m

  07-10-2015 11:16
  
  Broker hails “excellent” results as profits and turnover for 2014 grow.
  
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• Inaugural terror reinsurance event launched in London

  07-10-2015 11:08
  
  James Verrinder Postonline Pool Re has announced the inaugural Congress for National Terrorism reinsurance Pools event in London later this month.
  
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• Volkswagen to begin recall in January 2016

  07-10-2015 10:21
  
  James Verrinder Postonline Troubled motor manufacturer Volkswagen will begin recalling cars that have been fitted with emission test-cheating software in January next year.
  
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• Rogue cows and licking horses bedevil Saga motor clients

  07-10-2015 09:10
  
  Over-50s insurer details the most bizarre motoring claims
  
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• IAG names Harmer new chief executive

  07-10-2015 08:43
  
  Former Aon UK CEO sees opportunities in ‘age of disruption’
  
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• Harmer to succeed Wilkins as IAG CEO

  07-10-2015 05:01
  Andrew Tjaardstra Postonline Peter Harmer, CEO of IAG Labs, is to become managing director and CEO of Insurance Australia Group on 16 November.
  
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• Analysis: Is flexibility the way forward for China’s motor market?

  07-10-2015 04:44
  
  Nicky Burridge Postonline Adding more flexibility to the Chinese motor insurance market will create opportunities for foreign insurers to differentiate themselves on both price and product design, writes Nicky Burridge.
  
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• Programme and fronting start-up Spinnaker gets A- rating

  07-10-2015 02:55
  Dave Ingrey's programme start-up Spinnaker Insurance Company
  has secured its A- rating from AM Best, opening the way for a
  formal launch.
  As previously revealed by The Insurance
  Insider, the venture is targeting cat-exposed US
  homeowners' property programme business written for its own
  book and will also serve as a fronting carrier for short-tail
  risks.
  The strategy to offer fronting services will see it enter a
  space dominated by State National that has garnered significant
  interest as traditio
  
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