Insurance news

• Fronting start-up Clear Blue launched

  15-12-2015 18:22
  Clear Blue Financial Holdings has announced details of its
  management team after officially launching with an A- rating from
  AM Best.
  Former Bank of America executive Jerome Breslin leads the team
  as CEO, together with former colleagues Jim Mann and Peter Klope,
  who have been named chief risk officer and chief operating officer
  respectively.
  Jeff Downey, who previously worked in M&A and capital
  advisory roles at boutique bank Tag Financial Institutions, joins
  as chief financial officer. Manu
  
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• AGCS launches US cyber team

  15-12-2015 17:21
  Allianz Global Corporate & Specialty (AGCS) has launched a
  dedicated US cyber team as part of its financial lines division, it
  announced today (15 December).
  Emy Donavan and Jenny Soubra have been named national practice
  leaders, effective immediately. The duo will report to Paul
  Schiavone, regional head of financial lines for North America.
  Donavan joins from Axis Pro, where she was vice president of
  underwriting with a focus on cyber and technology placements in the
  central and western US.
  
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• Carlyle firepower will help PIB's aggressive recruitment - McManus

  15-12-2015 16:44
  
  PIB is also continuing with its aggressive recruitment plans
  
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• Editor's Comment: 2015: A year in review

  15-12-2015 16:36
  
  Stephanie Denton Postonline Christmas is a time for reflection on the past year and to think about what 2016 might bring.
  
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• Axis Re gets green light for Dubai rep office

  15-12-2015 15:10
  Axis Re has been granted a licence to establish a representative
  office in Dubai, its parent company Axis Capital announced today
  (15 December).
  Axis Re received approval from the Dubai Financial Services
  Authority on 8 December.
  The new Dubai representative office will focus on marketing
  accident and health specialty reinsurance in the Middle East and
  Africa.
  The Bermudian company is not the only firm looking to build a
  Dubai presence.
  Lloyd's officially unveiled its Dubai underwriting platform
  
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• PI and D&O targeted as cybercrime exposures continue to grow for insurers

  15-12-2015 14:14
  
  Peta Fuller Postonline Cybercrime claims are having an impact on an increasing number of business areas, with market commentators citing professional indemnity and directors' and officers' as two markets that are becoming more vulnerable to the impact of cyber-attacks.
  
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• EC adopts insurance distribution directive

  15-12-2015 14:13
  The European Council has adopted a directive establishing new
  rules on insurance distribution in an effort to improve consumer
  protection for insurance products.
  The new rules, which were adopted yesterday (14 December),
  repealed a previous directive on insurance mediation and clarify a
  number of that directive's provisions.
  The Council said the new rules were aimed at improving retail
  insurance regulation in a way that would facilitate market
  integration.
  Among the directive's aims are establis
  
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• Uncertainty around high risk corporate travel destinations may impact coverage

  15-12-2015 13:44
  
  Katie Marriner Postonline Countries that constitute 'high-risk destinations' are becoming a grey area for companies wanting to protect their employees during overseas corporate assignments, as terror incidents lead to demand for comprehensive multinational programmes.
  
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• Ex-LAS director Marshall joins former colleagues as MD of Evolution

  15-12-2015 13:42
  
  Callum BrodiePostonline Former LAS Claims Management client operations director Ritchie Marshall has become the latest former LAS senior staff member to reunite with company founder Darren Cooper at his new venture, Evolution Claims Management.
  
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• Insurers ready for SII despite 'gold plating'

  15-12-2015 13:08
  Some 68 percent of European insurers believe that Solvency II
  has been gold plated in their domestic markets as national
  supervisors imposed last-minute requirements ahead of
  implementation on 1 January, according to a survey from trade body
  Insurance Europe.
  The poll carried out last month covered companies accounting for
  92 percent of European insurance premiums and found an almost
  threefold increase in gold-plating from a previous survey carried
  out in June.
  The June survey found that around
  
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• Aspen expands sidecar to $125mn

  15-12-2015 13:08
  Aspen has increased the size of its sidecar, Silverton Re, by
  more than 40 percent to $125mn for 2016, the company said yesterday
  (14 December).
  Silverton Re has taken in an additional $30mn of third-party
  capital for 2016, on top of the $70mn raised in 2015. Aspen is also
  increasing its own investment in the vehicle from $15mn in 2015 to
  $25mn next year.
  Aon Securities acted as placement agent for the sidecar
  notes.
  Aspen first launched Silverton Re in...
  
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• McManus hails Carlyle backing as acquisition plans take shape

  15-12-2015 12:21
  
  PIB open to taking on new staff and buying businesses over the next five years.
  
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• Tokio Marine Kiln expands liability team

  15-12-2015 12:10
  Tokio Marine Kiln (TMK) has appointed Andrew Brand and Dervla
  Lynchehaun as liability underwriters in its London office.
  With more than a decade of experience Brand joins from QBE,
  where he was a senior underwriter focused on UK liability.
  At TMK he will work alongside Chris Cullen, who joined in July,
  and continue to drive forward the recently launched UK liability
  underwriting business on the Lloyd's syndicate side.
  Lynchehaun has spent six years writing UK and international
  general casualty a
  
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• Cunningham Lindsey hires LatAm chief

  15-12-2015 12:10
  Loss adjusting firm Cunningham Lindsey has named Laura de Sordi
  as managing director of its Latin American operations.
  De Sordi was previously head of global risk specialty lines
  claims at Generali in the UK, a role she held for nine years.
  The executive will be responsible for field operations across
  Latin America and the Caribbean.
  Her appointment follows the opening of a new hub in Miami, which
  Cunningham Lindsey established in response to the concentration and
  growth of insurance, reinsuranc
  
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• BPL underlines independence with MD hires

  15-12-2015 12:10
  James Esdaile and Sian Aspinall have been appointed joint
  managing directors at credit and political risk insurance broker
  BPL Global, in a move that underlines the firm's intentions to
  remain independent.
  Esdaile and Aspinall replace Robin Harper, who will remain a
  director on the company's board. Esdaile joined BPL Global in
  1997 as a graduate trainee, while Aspinall returned to the company
  in 2014 after working as a senior political risk underwriter for
  American International Group and Zurich
  
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• AAPL becomes first Malaysian Lloyd's broker

  15-12-2015 12:10
  Reinsurance and retakaful broker AFR Asia Pacific Ltd (AAPL) has
  become the first Malaysian intermediary to become registered at
  Lloyd's.
  The broker is 95 percent owned by AFR Global, which received its
  letter of approval from Lloyd's in November.
  Kent Chaplin, head of Lloyd's Asia Pacific, said the
  Corporation had enjoyed a longstanding relationship with AFR, and
  urged more Malaysian brokers to apply to join the platform.
  "This is validation that [AFR meets] the standards required
  of a Lloyd's
  
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• German investment firm snaps up one third of Stream UK

  15-12-2015 11:53
  
  Callum BrodiePostonline Stream Claims Services UK is gearing up for a year of organic growth ahead of future acquisitions in 2017 after a third of the business was sold to German venture investment firm Tiburon.
  
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• Covéa revamps private car policy wording

  15-12-2015 10:54
  
  Insurer used behavioural economics to identify reasons why customers avoid reading insurance documents
  
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• The 2015 Broker Apprentice series winner is revealed

  15-12-2015 10:38 via insuranceage.co.uk
  
  Who do you think has impressed LV chief John O’Roarke the most and grabbed the crown?
  
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• Brightside signs five year RAC deal

  15-12-2015 10:33
  
  Broker will sell a range of RAC breakdown products to its customers across its motor book.
  
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• Slater and Gordon MD Grech warns government over RTA reform “backlash"

  15-12-2015 10:12
  
  Jonathan Swift Postonline The boss of one of the UK's leading claimant law firms has warned about the "unintended consequences" if the government goes ahead with the reforms outlined in the Autumn Statement to combat compensation culture.
  
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• Boards need to hire younger directors to prevent cyber threat

  15-12-2015 09:43
  
  Finance experts say young directors can contribute in-depth understanding of the risks and preventative strategies
  
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• Finance sector high on list of criminal targeted cyber-attacks

  15-12-2015 09:24
  
  The research by Control Risks predicts that hardware compromise will be the most impactful cyber-attack technique in 2016
  
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• Brightside signs five-year deal with RAC

  15-12-2015 08:39
  
  Under the terms of the agreement Brightside will sell a variety of breakdown products to customers across its motor book
  
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• Peter Hubbard: some insurers starting to pull back from SME

  15-12-2015 08:36
  
  UK General could be close to £500m GWP at end of current financial year
  
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• Peter Hubbard: Some insurers are starting to pull back from SME

  15-12-2015 08:36
  
  UK General could be close to £500m GWP at end of current financial year
  
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• Quindell investors kick off legal battle

  15-12-2015 08:34
  
  Law firm Your Legal Friend is acting on behalf of 342 disgruntled investors who intend to sue the company for £9.4m 
  
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• Quindell investors kick off legal action

  15-12-2015 08:34
  
  Law firm Your Legal Friend is acting on behalf of 342 disgruntled investors who intend to sue the company for £9.4m 
  
  Read more

• Christmas burglars favour bicycles

  15-12-2015 01:05
  
  Cecile Brisson Postonline Bicycles top the list of the most common items stolen in the Christmas period, followed by mobile phones, tablets and laptops, according to recent research.
  
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