Insurance news

• Willis traded $10 Towers dividend for expense fees

  27-11-2015 18:23
  Willis asked for changes to the expenses fee agreement in return
  for offering a higher special dividend during negotiations over its
  proposed merger of equals with Towers Watson, US Securities and
  Exchange Commission filings have shown.
  Under an 8-K filing published today (27 November), the proxy
  statement was updated to show that an amendment had been made to
  eliminate Willis's obligation to reimburse Towers Watson's
  fees and expenses up to the value of $45mn if either party
  terminated the agre
  
  Read more

• Skuld to give premium credit after strong results

  27-11-2015 18:23
  Protection and indemnity (P&I) mutual Skuld is to offer a
  guaranteed premium credit for its members after it revealed
  favourable 2015/16 underwriting results for the first nine months
  of the year.
  The credit is guaranteed to be a minimum of 2.5 percent on the
  individual member's P&I mutual premium for the 2015/16
  policy year, with an opportunity to increase in line with the size
  of Skuld's result should the result improve even further in the
  fourth quarter.
  The mutual-member credit...
  
  Read more

• Mutua Madrileña buys 40% stake in Chilean leader

  27-11-2015 18:23
  Spanish composite insurer Mutua Madrileña has agreed to
  acquire a 40 percent stake in Empresas Juan Yarur's Chilean
  insurance operations BCI Seguros Generales, BCI Seguros Vida and
  Zenit Seguros, for around EUR209mn ($222mn).
  BCI Seguros Generales is the largest non-life insurer in Chile,
  while BCI Seguros Vida provides life and health insurance. Zenit
  Seguros specialises in providing services to mass channels and
  financial institutions.
  The partnership with Empresas Juan Yarur will also
  
  Read more

• AIG mulls life sales: reports

  27-11-2015 18:23
  American International Group (AIG) is considering selling blocks of
  life insurance business as it combats activist investors pushing
  for a break-up of the company, according to reports.
  Bloomberg reported today (27 November) that AIG was considering
  disposing of life portfolios, together with other options such as
  selling life insurance subsidiaries, as it seeks to narrow its
  focus.
  Investor Carl Icahn is pushing the carrier to split into
  separate life, non-life and mortgage insurance businesses
  
  Read more

• Advertisement

• Adelaide bushfires contained

  27-11-2015 18:23
  The bushfires burning around Adelaide in South Australia have
  been contained, the South Australian Country Fire Service confirmed
  this morning (27 November).
  The fires have claimed at least two lives so far and left 13 in
  hospital, with at least 16 homes destroyed and significant losses
  to livestock, fencing, crops and farming machinery also
  recorded.
  The Insurance Council of Australia (ICA) had feared that the
  fires would spread to the Barossa Valley wine-producing region
  yesterday after a chan
  
  Read more

• The winner is revealed in the Insurance Debate

  27-11-2015 17:28 via insuranceage.co.uk
  
  Brokers have been voting on whether insurance will ever match medicine, law or accountancy in the public’s eye.
  
  Read more

• Inter Hannover buys church insurer CGI

  27-11-2015 17:11
  
  Deal includes CGI’s share of home MGA Integra
  
  Read more

• Insurers to discuss unscrupulous solicitors with SRA next month

  27-11-2015 16:34
  
  Callum BrodiePostonline Talks between the Solicitors Regulation Authority and a handful of insurers to discuss the legal watchdog’s regulation of solicitors suspected to be facilitating fraud have been set for 9 December, Post understands.
  
  Read more

• Advertisement

• Insurers may be slow to pass on whiplash reform savings – Fitch

  27-11-2015 16:26
  
  Companies will be cautious about cutting rates after experience in 2013 reforms
  
  Read more

• Customers less loyal to insurance providers than banks, utilities

  27-11-2015 16:19
  
  Insurers score well in overall satisfaction, but customers more likely to shop around
  
  Read more

• Insurance Debate: Insurers will only truly meet customers’ needs when they become innovative says Airmic

  27-11-2015 14:35
  
  Stephanie Denton Postonline According to Airmic there are reasons to be optimistic as there has been a significant improvement over the past ten years in customer care, driven by commercial and regulatory pressures, and these can only continue to have a beneficial effect.
  
  Read more

• One Commercial plans expansion as it hires from RSA and DLG

  27-11-2015 14:17
  
  Richard Skingle and Paul Stead join UK General’s commercial division
  
  Read more

• Insurance Debate: Last chance to vote

  27-11-2015 13:45
  
  Stephanie Denton Postonline Will insurance ever be a viewed as a true profession? The debate closes at 4pm so there is still time to have your say.
  
  Read more

• Inter Hannover to buy specialist church insurer

  27-11-2015 13:24
  
  CGI set to be sold by the Congregational and General Charitable Trust.
  
  Read more

• Last chance to vote in The Insurance Debate

  27-11-2015 13:09
  
  Poll closes at 4pm – share your opinions in our professionalism debate.
  
  Read more

• Specialist church insurer sold to Inter Hannover

  27-11-2015 12:56
  
  Peta Fuller Postonline Inter Hannover will buy Congretional and General Insurance, subject to regulatory approval.
  
  Read more

• FCA considers granting FOS access to more small businesses

  27-11-2015 12:51
  
  Regulator seeking views on level of protection for SMEs when buying financial services
  
  Read more

• Regulator to discuss complaints service for SMEs

  27-11-2015 12:30
  
  Peta Fuller Postonline The Financial Conduct Authority wants feedback on how much protection it offers to SMEs when complaints arise from dealings with financial service providers.
  
  Read more

• Slater & Gordon may need to raise cash after whiplash crackdown

  27-11-2015 12:13
  
  Australian law firm’s earnings seen hit so hard it will need cash injection to cover debts
  
  Read more

• Lloyd's sets up $400mn nat-cat facility for emerging market risk

  27-11-2015 12:10
  Eight Lloyd's syndicates including Nephila have pledged
  $400mn of reinsurance capacity targeted at catastrophe solutions
  for under-insured developing economies.
  The initial group of syndicates participating in the initiative
  are Amlin, Beazley, Hiscox, Mitsui Sumitomo Insurance Group,
  Nephila, RenaissanceRe, Tokio Marine Kiln and XL Catlin, although
  the corporation said other managing agents were welcome to
  join.
  The group hopes to work with international organisations
  including but not limited
  
  Read more

• Acappella syndicate hires marine liability head

  27-11-2015 12:10
  Suzanne Ward has been named the new divisional head of marine
  liability at Acappella Syndicate 2014.
  The division will write a book of predominantly marine liability
  business, with associated marine risks including P&I and ports
  and terminals, as well as an energy liability portfolio.
  Ward joins from Barbican, where she spent five years as an
  underwriter in its marine and energy liability team. Prior to this,
  she spent eight years at Novae as a marine liability
  underwriter.
  David Indge, acti
  
  Read more

• Video: industry bosses issue rallying cry on climate change

  27-11-2015 12:06
  
  Callum BrodiePostonline High-profile insurance industry CEOs and executives are calling for world leaders to reach a strong global agreement to tackle climate change ahead of the UN Paris Climate Change Conference COP21 next week.
  
  Read more

• FCA seeks views about regulatory framework for SMEs

  27-11-2015 12:05
  
  Regulator says its discussion paper follows issues with the way some financial services firms have treated SME clients.
  
  Read more

• Broking Break: Your top five stories of the week

  27-11-2015 11:17 via insuranceage.co.uk
  
  It was Towergate, Towergate, Towergate this week as the consolidator hit the headlines with a £5.5m loss for Q3. But what other companies have you also been reading about?
  
  Read more

• Quiz of the week - 27 November

  27-11-2015 11:00
  
  Peta Fuller Postonline Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
  
  Read more

• Insurers still struggling with customer loyalty

  27-11-2015 10:43
  
  Peta Fuller Postonline Customers are least likely to be loyal to their insurers than businesses from any other sector, according to a study by research agency Future Thinking.
  
  Read more

• Broking Break: Key networking tips

  27-11-2015 10:40
  
  Ahead of Digital Broker Belfast, and in advance of the many Christmas drinks parties in the calendar, networking expert Melissa Kidd, of Motem, shares here top tips for meeting new contacts.
  
  Read more

• Blog: When rain waters down ticket sales

  27-11-2015 10:30
  
  Michelle Crorie and Erina Kawai Postonline As a nation, the weather - good or bad - is a favourite topic of conversation. However, for promotors and organisers of concerts, festivals and other events, weather concerns are a serious issue, as meteorological conditions could cause an event to be abandoned, postponed or curtailed with significant financial consequences.
  
  Read more

• Quizzical questions: 27 November 2015

  27-11-2015 10:29
  
  Test your knowledge of the week’s news with our topical news quiz.
  
  Read more

• Broker Apprentice: Preparing for the school challenge

  27-11-2015 10:00 via insuranceage.co.uk
  
  Mike Crane, deputy managing director at LV reviews the apprentices’ performances as they shot their promotional videos.
  
  Read more

• Broker Apprentice 2: Preparing for the school challenge

  27-11-2015 10:00 via insuranceage.co.uk
  
  Mike Crane, deputy managing director at LV reviews the apprentices’ performances as they shot their promotional videos.
  
  Read more

• Crisis deepens at Slater and Gordon as shares crash another 26% - latest

  27-11-2015 09:58
  
  Australian law firm in crisis as share price is being destroyed by UK government whiplash crackdown plans 
  
  Read more

• Insurers vow cheaper premiums amid Osborne whiplash crackdown

  27-11-2015 09:04
  
  Aviva boss Mark Wilson is first out the blocks to promise customers a better deal 
  
  Read more

• Share price disaster for beleaguered Quindell buyer Slater and Gordon

  27-11-2015 08:42
  
  Law firm Slater and Gordon warned of liquidity crunch following regulatory crackdown on whiplash claimants 
  
  Read more

• Tokio Marine Kiln appoints Hoad as head of innovation

  27-11-2015 05:06
  
  Andrew Tjaardstra Postonline Tom Hoad, an underwriter in Tokio Marine Kiln's emerging risk division, has been appointed as head of innovation at Tokio Marine Kiln's London office.
  
  Read more

Follow @Insurance_UKnws on Twitter!