Insurance news

• Weather events cost Japanese insurers $1.37bn

  18-11-2015 20:02
  The big three Japanese carriers have reported 169bn yen
  ($1.37bn) of losses related to recent domestic natural
  catastrophes, which made a significant dent in their second quarter
  results.
  Japan took a battering from heavy storm activity over the
  summer, including Typhoon Goni and Tropical Storm Etau, which led
  to severe flooding and landslides.
  Sompo Japan Nipponkoa, Tokio Marine, and Mitsui Sumitomo
  Insurance & Aioi Nissay Dowa Insurance (MS&AD) disclosed
  the losses in second quarter re
  
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• Towers Watson and Willis postpone merger votes

  18-11-2015 20:02
  Towers Watson and Willis have requested an adjournment of
  today's (18 November) respective scheduled meetings to vote on
  their proposed merger.
  Towers Watson announced that its special meeting of stockholders
  had been adjourned to 20 November "in order to provide
  additional time for stockholders to vote".
  The meeting will now take place at 8.00am EST on 20
  November.
  It had been widely tipped in the investor community that Towers
  Watson shareholders would vote against the proposal.
  In a simultane
  
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• Pool Re offers UK cyber terror support

  18-11-2015 20:02
  Pool Re CEO Julian Enoizi has offered the terror reinsurer's
  support to UK Chancellor of the Exchequer George Osborne in
  response to a speech he made on cyber terrorism yesterday (17
  November).
  In a speech delivered at UK intelligence agency GCHQ, Osborne
  ranked cyber alongside "guns, bombs and knives" as
  terrorist weapons the UK needed to defend itself against.
  He committed to a £1.9bn increase in cyber defence spending
  over five years to protect Britain from cyber attacks and develop...
  
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• Eiopa announces shift from regulatory to supervisory role

  18-11-2015 20:02
  Gabriel Bernardino has indicated that the European Insurance and
  Occupational Pensions Authority (Eiopa)'s governance will move
  from a regulatory role towards a supervisory one.
  Speaking at Eiopa's annual conference in Frankfurt, the
  authority's chairman said he was "managing change" by
  "moving from regulation to supervision".
  He added that supervisory convergence was essential to ensure
  the application of EU regulation, achieve a level playing field and
  safeguard a similar level of protection t
  
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• Post magazine - 19 November 2015

  18-11-2015 18:13
  
  Cecile Brisson Postonline The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS app edition on the App Store or read the Post digital edition online.
  
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• New personal lines chief as Zurich announces executive team changes

  18-11-2015 15:08
  
  Appointments and exits follow on from previous news of profit falls and job losses.
  
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• Emms leaves Zurich in executive reshuffle

  18-11-2015 15:07
  
  Katie Marriner Postonline Zurich UK general insurance chief claims officer Tony Emms is to leave the business with motor and casualty claims director Karl Helgesen taking on the position from December 2015.
  
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• Zurich UK claims boss to depart as personal lines MD named

  18-11-2015 14:52
  
  Karl Helgesen will replace Tony Emms, while Patrick Cohen has been promoted to personal lines MD
  
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• Hastings to focus on growth in home

  18-11-2015 14:13
  
  CFO Richard Hoskins says broker will optimise its business through price comparison websites.
  
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• Pool Re considering cover for certain cyber-terror risks

  18-11-2015 14:04
  
  Terrorism reinsurer conducting study as it looks to play its part in defending the UK
  
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• Weather events cost Japanese insurers $1.13bn

  18-11-2015 13:40
  The big three Japanese carriers have reported 169bn yen ($1.13bn)
  of losses related to recent domestic natural catastrophes, which
  made a significant dent in their second quarter results.
  Japan took a battering from heavy storm activity over the
  summer, including Typhoon Goni and Tropical Storm Etau, which led
  to severe flooding and landslides.
  Sompo Japan Nipponkoa, Tokio Marine, and Mitsui Sumitomo
  Insurance & Aioi Nissay Dowa Insurance (MS&AD) disclosed
  the losses in second quarter re
  
  Read more

• Start-up broker ATL hires JLT energy team

  18-11-2015 13:40
  Independent Lloyd's broker ATL Marine & Energy has hired
  four energy brokers from rival JLT.
  James Craven will become managing director at ATL, while Jamie
  Watts has been appointed head of energy. Joanne Hagan and Lianne
  Gillespie have also joined the intermediary.
  Craven and Watts were previously partners at JLT, and have
  worked in the market for more than 25 years, while Gillespie held
  the role of account handler.
  Iñaki Bandres, ATL's CEO, commented: "Clients are
  increasingly seekin
  
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• Flood Re secures £1.29bn of retro

  18-11-2015 13:40
  UK flood reinsurer Flood Re has secured £1.29bn ($1.96bn)
  of cover from the world's leading reinsurers and completed
  phase one of the tender process for outward reinsurance protection,
  it announced today (18 November).
  Munich Re and Swiss Re both contributed to the state-backed
  flood reinsurer, in what was described as an oversubscribed
  procurement process brokered by Guy Carpenter.
  The programme is now seeking a further £720mn of
  reinsurance protection in the phase two process, whic
  
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• Aon Benfield expands Global ReSpecialty team

  18-11-2015 13:40
  Aon Benfield has recruited former Willis Re executive Russell
  Nevard as chief commercial officer of its Global ReSpecialty
  division.
  Nevard will join the business in April 2016, reporting to Global
  ReSpecialty CEO Robert Bisset.
  Nevard spent 27 years at Willis Re and was most recently
  managing director for aerospace at the broker's specialty
  unit.
  At Aon Benfield, he will lead development of new products and
  manage strategic growth plans for ReSpecialty, which covers
  aviation, marine specialty a
  
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• Brokerbility's broker business to post £50m GWP for 2015

  18-11-2015 13:39
  
  Broker to make an acquisition before the end of the year says managing director Ian Stutz.
  
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• PIB makes senior hire from Willis to strengthen property team

  18-11-2015 13:02
  
  Previously a Willis broker account director Graham Waller has experience in right of light risks and legal indemnity policies
  
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• Flood Re secures £1.3bn reinsurance cover in first stage of tender

  18-11-2015 12:46
  
  Scheme gets ‘significant support’ from market leaders Munich Re and Swiss Re
  
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• Episode 2: Broker Apprentice 2015 - the brokers womble in Wimbledon

  18-11-2015 12:09
  
  The six contestants hit the streets to persuade the general public to use an insurance broker.
  
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• IPT errors could reduce underwriting profits by 15%

  18-11-2015 11:33
  
  FiscalReps predicts that errors in insurance premium tax could cause “significant drop in underwriting profits”.
  
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• Covéa relaunches tradesman policy for small businesses

  18-11-2015 11:24
  
  Insurer says it has made significant changes following feedback from brokers.
  
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• Profit up 19% at Hastings in opening nine months

  18-11-2015 10:37
  
  Peta Fuller Postonline Operating profit for Hastings Group continues to track upwards, with a 19% increase to £93.8m for the nine months to 30 September (9M 2014: £79m).
  
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• Senior executives exit Crawford at UK and group level

  18-11-2015 10:14
  
  Specialist property services director Alex Finch among the departures
  
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• Hastings posts GWP of £454.3m for first nine months of 2015

  18-11-2015 09:58
  
  First set of results since London Stock Exchange listing sees revenue increase to £350.2m.
  
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• Dell releases Internet of Things insurance accelerator

  18-11-2015 09:41
  
  Internet of Things capability can give underwriters a competitive edge in risk analytics
  
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• Broker boss 'failed to check mirrors' before fatal motorcycle collision

  18-11-2015 09:21
  
  Stuart Green, 26, was killed last year in an incident with McClarron Insurance chief Sean McClarron (pictured)
  
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• Hastings operating profit rises 19% in first nine months

  18-11-2015 09:05
  
  Company now controls 5.7% of UK private car insurance market
  
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