Insurance news

• Shah to leave AIG in senior management cull

  20-11-2015 23:20
  Samir Shah has become the latest high-profile AIG executive to be
  culled as the insurer executes its global cost-cutting and
  reorganisation programme, The Insurance
  Insider can reveal.
  According to sources, Shah will leave his position as senior
  vice president and head of insurance capital markets after a year
  in the role.
  Meanwhile, it is understood that Marty Scherzer, president of
  alternative risk solutions, is also departing AIG, along with
  certain members of his team.
  The departures follow
  
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• Mass demands blanket ban on cold calls and texts as CMC review closes

  20-11-2015 18:17
  
  Callum BrodiePostonline The Motor Accident Solicitors Society has called for an extension of the ban on unsolicited texts and cold calls to both sides of the claimant/defendant divide.
  
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• Data, Analytics & Technology Awards 2015: The Winners

  20-11-2015 17:21
  
  Callum BrodiePostonline Industry technology experts scaled the heights at the Millbank Tower’s Altitude 360 venue yesterday afternoon (19 November) for Post’s Data, Analytics & Technology Awards for Insurance 2015 where the winners toasted their success in the skies.
  
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• Unrated German firm Berliner in default

  20-11-2015 16:49
  
  Katie Marriner Postonline The Financial Services Compensation Scheme is discussing the failure of German insurer Berliner with its liquidator after it was declared to be in default on 28 August 2015.
  
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• RenRe promotes FD of managing agent to CEO

  20-11-2015 13:56
  RenaissanceRe has revealed that Hugh Brennan, the current finance
  director for RenaissanceRe Syndicate Management (RSM), will become
  the managing agent's CEO in 2016.
  Current RSM CEO Richard Murphy will retire and become chairman
  of the board, the Bermudian said.
  Brennan joined RenRe in Bermuda in 2009, subsequently moving to
  London and assuming a series of positions of increasing
  responsibility. Previously, Brennan spent nine years with a global
  public accounting firm working in Dublin, New Yor
  
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• R&Q acquires FNF Title

  20-11-2015 13:56
  Randall & Quilter (R&Q) has agreed to acquire FNF Title
  Insurance Company, a Maltese subsidiary of Fidelity National Title
  Group.
  FNF provided protection for breach of covenants in property
  transactions, chancel repair insurance and rights of way and light
  cover.
  The carrier predominantly wrote business in the UK but was also
  active in Poland and the Czech Republic. It ceased underwriting in
  2014.
  The transaction is subject to approval from the Maltese
  Financial Services Authority and wi
  
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• Pool Re retention increased to £135mn

  20-11-2015 13:56
  UK state-backed terrorism reinsurer Pool Re will increase its
  members' retention from £100mn to £135mn at 1
  January, the carrier announced this morning (20 November).
  The new higher retention will be capped at an annual aggregate
  of £270mn in any one year.
  Pool Re said the move would increase the scheme's resilience
  and move the UK government and taxpayers further away from
  potential liability. The previous retention had been in place since
  2006.
  Pool Re chief underwriting offi
  
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• Hanway to succeed Lord Lang at MMC

  20-11-2015 13:56
  Marsh & McLennan Companies (MMC) has appointed Edward Hanway to
  succeed Lord Ian Lang as independent chairman of the company when
  Lord Lang retires in May 2016 after five years in the role.
  Hanway joined the MMC board of directors in 2010. He currently
  chairs the compensation committee and serves on the executive and
  finance committees.
  Prior to his roles with MMC, Hanway spent four years in
  executive positons with Cigna, including president and COO.
  Commenting on his upcoming retirement,...
  
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• Gayner and Whitt to become co-CEOs at Markel

  20-11-2015 13:56
  Markel Corporation has announced that its chief investment
  officer Thomas Gayner and co-chief operating officer Richard Whitt
  will become co-CEOs from 1 January.
  Alan Kirshner, Markel's current chief executive and
  chairman, will relinquish the CEO role in the New Year to become
  executive chairman.
  Co-chief operating officer Michael Crowley will serve as the
  sole president of the company from the same date, with Gayner and
  Whitt both set to drop this title.
  All three will continue to report to Ki
  
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• Insurance must partner with the tech sector to survive - Lloyds bosses

  20-11-2015 13:23
  
  But London is uniquely positioned to lead the market in to technology
  
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• McLarens operations head promoted to chief exec

  20-11-2015 13:03
  
  Gary brown will replace Vern Chalfant who will become executive chairman
  
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• A-Plan's turnover rises 10% to £67.4m

  20-11-2015 13:03
  
  Ebitda also increases by 9% to £24.7m for the year to the end of February 2015.
  
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• FSCS steps in to rescue Berliner policyholders

  20-11-2015 12:26
  
  General liability and professional indemnity insurance policyholders could be eligible for FSCS protection
  
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• AIG UK chief McNamee to leave as part of group-wide cuts

  20-11-2015 12:20
  
  More than 300 people affected globally under changes
  
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• AIG UK boss McNamee to exit amid $500m cost-cutting drive

  20-11-2015 11:33
  
  Callum BrodiePostonline AIG UK managing director Jaqueline McNamee is to depart the insurer amid a swingeing cost-cutting initiative that could impact up to 400 senior executives globally.
  
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• UK chief McNamee set to depart AIG

  20-11-2015 11:22
  
  Departure part of wider cuts across the globe.
  
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• EY predicts 8% motor premium increase

  20-11-2015 11:21
  
  Katie Marriner Postonline Motorists can expect an average 8% rise in the price of their insurance which is equivalent to a £30 annual increase per driver, according to EY research.
  
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• Quizzical questions: 20 November 2015

  20-11-2015 11:15
  
  Test your knowledge of the week's news with our topical news quiz.
  
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• Insurers to retain more risk under terrorism scheme

  20-11-2015 11:15
  
  Scheme boosts retention to £135m per event, but caps annual retention at £270m
  
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• R&Q acquires Maltese subsidiary of US Fidelity National

  20-11-2015 11:07
  
  Peta Fuller Postonline Randall & Quilter will acquire Maltese subsidiary of US-based Fidelity National, FNF Title Insurance Company, subject to regulatory approval.
  
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• Quiz of the week - 20 November

  20-11-2015 11:00
  
  Katie Marriner Postonline Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
  
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• Pool Re insurers to take higher retention after terror attack

  20-11-2015 10:55
  
  Peta Fuller Postonline Pool Re members will take a greater retention in the event of a terrorism loss, shifting from £100m to £135m at any one event.
  
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• Blog: Tiny tech - but how big are the risks?

  20-11-2015 10:30
  
  Catherine Dixon Postonline Insurers need to monitor nanotechnology developments as the miniaturisation trend could pose new, unsuspected risks.
  
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• Broker Apprentice 1: Nervous energy for a daunting challenge

  20-11-2015 10:00 via insuranceage.co.uk
  
  Michael Lawrence, personal lines director at LV, shares his thoughts on the first challenge as the apprentices went wombling in Wimbledon.
  
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• Call for more prominent role for MGAs in claims process

  20-11-2015 09:50
  
  Peta Fuller Postonline MGAs want to get closer to the claims process according to the latest Managing General Agents' Association survey.
  
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• R&Q expands European business with latest Malta acquisition

  20-11-2015 09:00
  
  Chairman Ken Randall says TNF acquisition demonstrates its firepower to clinch European deals 
  
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• Crawford still ‘big supplier’ to RSA despite deal with rival

  20-11-2015 08:52
  
  Transfer of insurer’s home and injury unit to Cunningham Lindsey will have ‘minimal impact’ on Crawford
  
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• Rating agencies back our US sale strategy - Cooper Gay

  20-11-2015 08:49
  
  Moody’s and S&P are examining broker’s sale of North American operations
  
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• Brightside’s chief risk officer to exit

  20-11-2015 08:30
  
  Graham Johnston is heading to Thistle.
  
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• Broker boss cleared of death by careless driving

  20-11-2015 08:11
  
  Broker Sean McClarron found not guilty of causing the death of a motorcyclist.
  
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• Lawshield talks on add-ons

  20-11-2015 08:00 via insuranceage.co.uk
  
  Lawshield MD Ken Specter tackles the issues faced by brokers when adding ancilliary products.
  
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• 'Crewe is UK's drink-driving capital'

  20-11-2015 08:00
  
  Moneysupermarket analysis of car insurance quotes puts Cheshire town’s drivers at top of the list for driving under the influence, with Wales following closely Crewe in Cheshire has been named as the UK’s drink-driving capital, according to an analysis of car insurance applications.Comparison website Moneysupermarket.com studied 11m car insurance quotes over the past 12 months and found that the railway town of Crewe was home to the highest proportion of motorists with drink-driving
  
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• Running claims fraud team costs LV= £4.5m annually

  20-11-2015 07:30
  
  The number of vishing calls that LV=’s staff receive is rising
  
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