Insurance news

• IG rate cut in single digits but open market order shrinks

  11-01-2016 22:21
  The International Group (IG) of protection and indemnity clubs
  looks set to renew its $3bn treaty with a rate reduction of less
  than 10 percent, but has again reduced the size of its order after
  striking a three-year deal with Hannover Re, The
  Insurance Insider can reveal.
  Sources said that the three renewing layers of the programme,
  which is placed by Miller and led by XL Catlin, have been concluded
  at rate reductions of 5-7.5 percent on a non-exposure-adjusted
  basis,...
  
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• Sector hails Tulloch as "strong leader"

  11-01-2016 18:38
  
  Experts say Aviva should look internally for new UKGI CEO.
  
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• Hugh J Boswell Insurance Brokers gains chartered status

  11-01-2016 17:11
  
  Broker says award coincides with celebrating its 110th year of trading in 2016.
  
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• Blog: Five reasons Sian Fisher is a good choice for CII CEO

  11-01-2016 16:46
  
  Jonathan Swift Postonline This morning Sian Fisher was unveiled as the new CEO of the Chartered Insurance Institute.
  
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• Man found guilty of trying to defraud Esure of £6k

  11-01-2016 16:39
  
  Mark Cox tried to claim for a Breitling watch he never owned
  
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• Greco close to being named Zurich chief: reports

  11-01-2016 16:37
  Global insurance giant Zurich is close to naming Generali CEO
  Mario Greco as its new chief executive, according to Swiss media
  reports.
  SonntagsZeitung reported yesterday (10 January) that
  while Martin Senn's successor had yet to be chosen, Greco was
  the only name on the shortlist.
  The Swiss insurer is due to announce the appointment no later
  than its annual media conference, which is due to be held on 11
  February.
  On 1 December, The Insurance Insider
  reported that Greco was...
  
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• Open GI launches Mini Fleet

  11-01-2016 16:23
  
  Company says launch is in response to broker feedback.
  
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• Esure secures insurance fraud verdict over Breitling claim

  11-01-2016 16:18
  
  Marcus Alcock Postonline Esure has won a victory in the fight against insurance fraud after a man was found guilty after falsely claiming on his home insurance policy for a £6000 Breitling watch he never owned.
  
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• Brokers: Aviva likely to look internally for new UK GI boss

  11-01-2016 16:14
  
  Brokers praise company’s strong UK management team
  
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• Brokers praise outgoing Tulloch for role in revamping Aviva

  11-01-2016 15:58
  
  Despite departure brokers are confident that Tulloch will have oversight of Aviva’s UK GI business in global role
  
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• Tulloch to move focus from UKGI CEO role at Aviva

  11-01-2016 14:32
  
  Insurer searches for replacement with Tulloch turning his focus to global general insurance chairman role.
  
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• Esure hires Direct Line’s Meader as motor underwriting head

  11-01-2016 14:16
  
  Meader will report to new personal lines underwriting head Elspeth Hackett
  
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• Blog: From AIG to Zurich, five predictions for insurers in 2016

  11-01-2016 14:05
  
  Jonathan Swift Postonline Now that we have all had a chance to get back into our pre-Xmas routines; quit our cous-cous diets and break our new year’s resolutions, I thought it would be a good time to look into my crystal ball and predict how the year might pan out for insurers.
  
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• From AJ Gallagher to Towergate's future, five predictions for brokers in 2016

  11-01-2016 14:00
  
  Now that we have all had a chance to get back into our pre-Xmas routines and break our new year’s resolutions, I thought it would be a good chance to look at our crystal balls and predict how the year might pan out for brokers.
  
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• Ageas reveals new property owners scheme

  11-01-2016 13:54
  
  Scheme is launched together with Pii Underwriting Agency and available to UK buy-to-let property owners, lessees and mortgagees.
  
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• Esure appoints from DLG for senior underwriting role

  11-01-2016 13:37
  
  Peta Fuller Postonline Esure Group has appointed David Meader from Direct Line Group as head of motor underwriting.
  
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• Tulloch to focus on global role as Aviva hunts for new UKGI CEO

  11-01-2016 13:26
  
  Katie Marriner Postonline Aviva is on the lookout for a new UK general insurance CEO with Maurice Tulloch shifting his focus full-time to his responsibilities as global general insurance chairman.
  
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• The XS Cover Company launches agriculture GAP products

  11-01-2016 13:11
  
  Products are available to brokers to white label.
  
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• ABI and Biba launch joint code for vulnerable customers

  11-01-2016 12:45
  
  Katie Marriner Postonline The Association of British Insurers and the British Insurance Brokers' Association have today (11 January) launched a joint code of good practice to help insurers and brokers recognise and help potentially vulnerable motor and home insurance customers.
  
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• ABI and Biba launch Code of Good Practice

  11-01-2016 12:41
  
  Code to help brokers and insurers recognise vulnerable customers.
  
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• Ageas teams up with Pii to cover landlords

  11-01-2016 12:31
  
  Marcus Alcock Postonline Ageas has launched a new property owners' scheme in conjunction with underwriting agency Property Insurance Initiatives (Pii).
  
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• Aviva seeks new UKGI chief as Tulloch focuses on global role

  11-01-2016 12:22
  
  Replacement will report to Tulloch
  
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• Fisher to “drive professionalism” in CII role

  11-01-2016 12:09
  
  CII has “struck gold” with her appointment and Fisher is expected to drive professionalism agenda and build on foundations laid by Sandy Scott.
  
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• Zurich commercial broker and claims director Spencer to depart

  11-01-2016 12:06
  
  Callum BrodiePostonline Zurich UK’s commercial broker and claims services director Adrian Spencer is to step down at the end of January as part of wider cost cutting at the insurer, Post can reveal.
  
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• 'Top choice' Fisher praised by industry figures

  11-01-2016 12:00
  
  Peta Fuller Postonline Sian Fisher's appointment as Chartered Insurance Institute CEO has won praise from industry leaders.
  
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• Man remanded in custody after Liverpool bomb scare in insurer's office

  11-01-2016 11:46
  
  Katie Marriner Postonline Merseyside Police on Friday (8 January) arrested a man who entered the premises of Munich Re subsidiary Groves, John & Westrup carrying a "suspect package".
  
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• Western Australia bushfire claims hit A$60mn

  11-01-2016 11:11
  Bushfires that decimated the western region of Australia last
  week have resulted in hundreds of claims and insured losses
  totalling A$60mn ($42mn) so far.
  The Insurance Council of Australia (ICA) released the figures
  this morning (11 January), adding that the loss number was expected
  to rise.
  The ICA declared the bushfires a catastrophe on Friday (8
  January), after businesses and homes in the town of Yarloop and the
  surrounding area were destroyed.
  The body has set up a disaster hotline,...
  
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• UK flood payouts to reach £1.3bn

  11-01-2016 11:11
  Estimates from the Association of British Insurers (ABI) have put
  the total payouts from storms Desmond, Eva and Frank at £1.3bn
  ($1.9bn).
  Statistics collected by the UK trade body showed that more than
  3,000 families are living in alternative accommodation while
  repairs are made to their homes and that the average payout for
  each domestic flood claim is £50,000.
  Some £24mn has already been disbursed in emergency payouts,
  £15mn of which went to businesses. Policyholders h
  
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• Silver Lane targets insurance industry with Van der Meer hire

  11-01-2016 11:11
  Investment bank Silver Lane Advisors has hired Peter van der
  Meer to launch its insurance division, the firm announced today (11
  January).
  Van der Meer joins as managing director and head of insurance
  banking, having previously worked as senior managing director and
  head of insurance banking at Guggenheim Securities.
  Prior to this, Van der Meer founded and was head of insurance
  investment banking at FBR and was managing director and head of
  non-bank financial institutions at ABN Amro in North...
  
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• CSC ahead in Xchanging race as Ebix bid called into doubt

  11-01-2016 11:11
  UK outsourcer Xchanging is continuing to back the takeover offer
  from Computer Sciences Corporation (CSC) as the likelihood of Ebix
  making an alternative bid was called into question.
  CSC currently owns or has commitments for 57.06 percent of the
  shares, having bought another 9.9 percent of the outstanding stock
  on 23 December from failed earlier bidder Capita.
  In a note to the London Stock Exchange this morning (11
  January), Xchanging said that despite the significant amount of
  time made availa
  
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• Covéa looks to Midlands for growth with new Birmingham branch

  11-01-2016 11:06
  
  The firm, in the process of integrating Sterling in to its brand, says it sees considerable growth in the Midlands
  
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• Sian Fisher announced as CII CEO

  11-01-2016 10:48
  
  Callum BrodiePostonline The Chartered Insurance Institute has named former Arthur J Gallagher chief underwriting officer Sian Fisher as its new CEO.
  
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• Sian Fisher to replace Sandy Scott as CII chief exec

  11-01-2016 10:44
  
  Former Gallagher International underwriting chief in new role
  
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• Sian Fisher appointed CEO of the CII

  11-01-2016 10:15
  
  Fisher to start on 1 February with Sandy Scott retiring at the end of March.
  
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• Xchanging urges shareholders to accept CSC offer as deadline looms

  11-01-2016 10:10
  
  CSC needs acceptances from 75% of shareholders by Friday
  
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• Principal buys second motorcycle book in days

  11-01-2016 10:10
  
  The broker has acquired the motorcycle book of Simply Insurance.
  
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• HDI Gerling unveils new name

  11-01-2016 10:00
  
  Katie Marriner Postonline HDI Gerling Industrie Versicherung has rebranded to operate under the name HDI Global SE with immediate effect.
  
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• FCA could probe insurers’ social media data use – report

  11-01-2016 09:52
  
  News follows closure of call for information on data use
  
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• Flood victims given £24m by insurers in emergency payments so far

  11-01-2016 09:21
  
  Callum BrodiePostonline Insurers have forked out almost £24m so far on emergency payments to families and businesses effected by the floods caused by storms Desmond, Eva and Frank during December and over the New Year.
  
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• ABI: UK floods to cost insurers £1.3bn

  11-01-2016 08:42
  
  Average domestic flood claim payout has risen to £50,000, association says
  
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• Principal buys Simply Insurance bike book

  11-01-2016 08:22
  
  Simply book will add 500 more bike policies to 5,000 secured through Principal’s recent purchase of iGO4’s BikeTeam
  
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• 'Bomb scare' at Munich Re underwriting agency linked to insurance claim

  11-01-2016 08:00
  
  A man was arrested by armed police following a four-hour siege at marine underwriting agent Groves, John & Westrup
  
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• NZ$115m of New Zealand catastrophe insured losses in 2015

  11-01-2016 06:44
  
  Andrew Tjaardstra Postonline Natural disasters cost insurers in New Zealand NZ$115m (£52m) last year down from NZ$153m in 2014 according to the Insurance Council of New Zealand.
  
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