Insurance news

• Henderson hoping to finalise two acquisitions

  09-10-2015 17:09
  
  Broker says it has also made eight senior appointments, some from Bluefin, to support growth plans.
  
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• NCI secures capacity from Aviva and QIC as it seeks £50m pet GWP

  09-10-2015 17:01
  
  New capacity providers replace Gibraltar-based Elite
  
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• MA Assist scoops RSA property claims contract

  09-10-2015 16:24
  
  James Verrinder Postonline Property claims and building repair specialist MA Assist has been appointed as sole supplier to RSA for repair fulfilment on property claims under £20,000.
  
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• Mapfre Global Risks names international underwriting head

  09-10-2015 15:07
  José Antonio Ruibal has been named as Mapfre Global Risks'
  head of international underwriting, based in London.
  He will report to Chris Smith, chief market officer for Mapfre
  Global Risks International responsible for EMEA, Asia Pacific and
  North America.
  Mapfre Global Risks CEO Alfredo Castelo unveiled the new
  appointment at a market event in London last night (8 October).
  Mapfre Global Risks is the business unit of the
  Spain-headquartered global insurance group that specialises in
  provi
  
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• Quiz of the week - 9 October 2015

  09-10-2015 13:46
  
  Post Online Postonline Test your knowledge of the week's insurance news with Post's quiz of the week. don't forget to share your score using #postquiz
  
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• NCI aims to grow pet business from £6m to £50m

  09-10-2015 13:41
  
  Managing director Neil Richards-Smith says pet is an underdeveloped market.
  
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• NFU to cut 85 roles

  09-10-2015 13:03 via insuranceage.co.uk
  
  NFU Mutual confirms job losses as it looks to consolidate its regional service centres.
  
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• Latitude Brokers completes MBO from CGSC

  09-10-2015 12:27
  
  Hong Kong-based marine specialist gains independence
  
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• Mass chair takes swipe at insurers over pre-med offers for whiplash

  09-10-2015 12:23
  
  Callum BrodiePostonline The perception of whiplash as “easy money” is the fault of certain insurers making pre-medical offers, according to the chair of the Motor Accident Solicitors Society, who has questioned the extent to which claims management companies are fuelling fraud.
  
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• Towers Watson activist calls for Willis 'no' vote

  09-10-2015 11:54
  Activist Towers Watson shareholder Driehaus Capital Management LLC
  has published an open letter to fellow shareholders urging them to
  vote against the $18bn merger with big three broker Willis, a US
  Securities and Exchange Commission filing showed yesterday (8
  October).
  Driehaus, which owns more than 1 million Towers Watson shares
  representing 1.4 percent of shares outstanding, claimed the
  transaction will destroy value for Towers Watson shareholders.
  The letter raised four questions, including
  
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• IPO guidance values China Re at up to 1.3x book

  09-10-2015 11:54
  Shares in China Re are being priced at HK$2.25 to HK$2.75 ($0.29
  to $0.35) a share, valuing China's largest reinsurance group at
  up to 1.3x price to book.
  The valuation of the forthcoming $2bn IPO, which is expected to
  float later this year, has surprised investors, according to a
  report in Finance Asia.
  However, China Re is understood to be keen to factor in the
  recent rally of the Hong Kong Stock Exchange, which has risen 8
  percent in the...
  
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• Car insurance premiums show biggest jump in five years

  09-10-2015 11:52 via insuranceage.co.uk
  
  Confused.com index in association with Towers Watson cites market reaction to increasing claims costs.
  
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• Quizzical questions: 9 October 2015

  09-10-2015 11:30
  
  Test your knowledge of the week’s news with our topical news quiz.
  
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• Bend with the FCA and stop taking commission

  09-10-2015 11:00
  
  Ravi Takhar, CEO of Orchard Funding Group, explains the advantages of an insurance broker becoming a lender.
  
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• Motor premiums in biggest rise for five years

  09-10-2015 10:41
  
  James Verrinder Postonline Motor insurance premiums in the UK have risen 8.1% during the third quarter of 2015, signalling the end of three years of declining rates, according to the latest Car Insurance Price Index from Confused and Towers Watson.
  
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• Blog: How to prepare for the Insurance Act's duty of disclosure

  09-10-2015 10:41
  
  Mark Ward Postonline Among the many impacts the Insurance Act 2015 will have on insurers, brokers and insured parties alike is the duty of disclosure. The inherent question is: if a material change is in the public domain, does this mean an insurer is deemed to know about it?
  
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• IPO guidance values China Re at 1.3x book value

  09-10-2015 10:39
  Shares in China Re are being priced at HK$2.25 to HK$2.75 ($0.29 to
  $0.35) a share, valuing China's largest reinsurance group at up
  to 1.3x price to book.
  The valuation of the forthcoming $2bn IPO, which is expected to
  float later this year, has surprised investors, according to a
  report in Finance Asia.
  However, China Re is understood to be keen to factor in the
  recent rally of the Hong Kong Stock Exchange, which has risen 8
  percent in the...
  
  Read more

• Bill Gross to sue Allianz-owned Pimco for $200mn

  09-10-2015 10:39
  Reports suggest Bill Gross, the former CEO of global fixed
  income fund manager Pimco, is suing his former colleagues and the
  firm's parent company Allianz for $200mn, claiming he was
  ousted by juniors who wanted his share of the $1.3bn bonus
  pool.
  Pimco bosses were "driven by a lust for power, greed, and a
  desire to improve their own financial position...at the expense of
  investors and decency", the suit alleged.
  The lawsuit - filed in the California Superior Court in...
  
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• Motor claims surge sparks biggest premium jump in 5 years

  09-10-2015 09:25
  
  Private motor premiums could soar further because of Insurance Premium Tax 
  
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