Insurance news

• Amlin to rebrand as sale closes

  29-01-2016 19:55
  Lloyd's blue chip Amlin will rebrand as MS Amlin when its
  £3.5bn ($5bn) sale to Japanese big three insurance group
  Mitsui Sumitomo closes on Monday (1 February), The
  Insurance Insider can reveal.
  The old Amlin business will be merged with Mitsui Sumitomo's
  Lloyd's business (MSIG) and its reinsurance arm MS Frontier to
  form MS Amlin.
  A unified management team will be in place from day one under
  CEO Charles Philipps. The most senior jobs have remained with Amlin
  executives, but...
  
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• Insurers appetite for cyber risk questioned in light of HSBC hack

  29-01-2016 17:26
  
  Callum BrodiePostonline The capacity and appetite of insurers for covering cyber risk has been put in the spotlight once again following today’s cyber attack against HSBC.
  
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• RSA completes sale of Russian operations

  29-01-2016 17:20
  RSA has exited the Russian market after completing the sale of
  its 75 percent holding in Intouch Insurance, it announced today (29
  February).
  The controlling stake was sold to Russian insurer
  Blagosostoyanie for £5mn in cash. The deal was first announced
  in December last year.
  RSA Russia accounted for net written premiums of £27mn and
  an underwriting loss of £5mn within the firm's 2014 group
  results (before deduction of non-controlling interests).
  In the past 18 months RSA has
  
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• Marsh global claims head rejoins Cunningham Lindsey

  29-01-2016 17:20
  Marsh global claims practice leader David Pigot will rejoin
  Cunningham Lindsey as CEO for the loss adjuster's UK,
  international and major and complex loss operations.
  Pigot spent 14 years at Cunningham Lindsey working in London and
  the US before moving to Marsh. Overall, he has some 30 years'
  experience in claims, the loss adjuster said today (29
  January).
  Current UK CEO Phil McNeilage will step down to take a
  consultancy role in the firm.
  The adjuster added that Mark Thompson,...
  
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• The evolution of broking

  29-01-2016 16:52
  
  LVs Rod Wilmot considers what the insurance sector needs to do to keep up with digital developments.
  
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• UK named 'whiplash capital of the world'

  29-01-2016 14:26
  
  LV= research also reveals lengths claims management companies (CMCs) have gone in order to persuade drivers to claim
  
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• White Mountains legacy unit comes under Sirius brand

  29-01-2016 14:06
  White Mountains has rebranded its legacy unit following the
  proposed acquisition of Sirius by China Minsheng Investment.
  White Mountains Solutions has been renamed Sirius Global
  Solutions.
  White Mountains agreed to sell its reinsurance and Lloyd's
  arm Sirius to year-old conglomerate China Minsheng in July last
  year.
  In August, this publication revealed Sirius was considering
  bringing in an asset management partner for its specialist legacy
  acquisition arm.
  Sirius president and CEO Allan Waters s
  
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• Marketform builds financial lines team

  29-01-2016 14:06
  Marketform, the Lloyd's platform of American Financial Group,
  has expanded its financial lines team with the hire of underwriter
  Roberto Murru.
  Murru, who starts on 1 February, will join the company from
  AmTrust's AG Doré syndicate, where he launched the
  financial lines portfolio.
  Ian West, head of financial and professional lines and financial
  lines class underwriter, commented: "Our financial lines
  offering is broad. We are willing to consider entities of all
  types, undertaking any acti
  
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• M&A activity to continue in 2016: Fitch

  29-01-2016 14:06
  Ratings agency Fitch has predicted that (re)insurance M&A
  activity will continue in 2016, but warned that it could fuel
  complacency in some corners of the market.
  Following a prolific run of M&A deals in 2015, this year is
  expected to see continued activity in both the insurance and
  reinsurance sectors, the agency said during its London Insurance
  Roadshow on 28 January.
  However, Fitch senior director Martyn Street warned that
  continued M&A could fuel complacency in the reinsurance se
  
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• Arch Re US promotes Halgan to CEO

  29-01-2016 14:06
  Arch's US reinsurance arm has promoted president Jerome Halgan
  to CEO, it announced yesterday (28 January).
  Halgan will assume responsibility for the overall management of
  Arch Re from its headquarters in Morristown, New Jersey, in
  addition to his duties as president.
  Previous CEO Tim Olson will continue to serve as the
  company's chairman.
  Nicolas Papadopoulo, CEO of the reinsurance group at Arch
  Capital, said: "We are thrilled that due to the reinsurance
  group's considerable bench-strength, we
  
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• Union planning to intervene in RSA's Birmingham closure

  29-01-2016 12:31
  
  Katie Marriner Postonline Unite Union is planning to enter into discussions with RSA over its decision to close its Birmingham office putting 190 staff at risk of redundancy.
  
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• Quizzical questions: 29 January 2016

  29-01-2016 12:16
  
  Test your knowledge of the week’s news with our topical news quiz.
  
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• Unite to enter discussions with RSA

  29-01-2016 12:15
  
  Union says insurer’s Birmingham office closure is “big blow” for local finance sector.
  
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• Validus profits dip in fourth quarter

  29-01-2016 11:10
  Validus Holdings saw its net operating income fall by 13.5
  percent in the fourth quarter amid competitive pressures.
  The carrier, which comprises Lloyd's operation Talbot, US
  insurer Western World, insurance-linked securities manager AlphaCat
  and Validus Re, booked net operating income of $105.4mn during Q4,
  down from $121.9mn the previous year.
  Although the $1.24 earnings per share marked a deterioration
  from the $1.34 the firm booked in Q4 2014, it was in line with Wall
  Street's consensus esti
  
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• Fitch: 10 percent RoE possible in 2016

  29-01-2016 11:10
  Ratings agency Fitch has declared that reinsurers' return on
  equity (RoE) could reach 10 percent in 2016.
  Speaking at the Fitch Insurance Roadshow in London yesterday (28
  January), representatives said that they expected the RoE in the
  reinsurance sector to remain above 10 percent in 2016.
  This is in stark contrast to comments made last week by Stephen
  Catlin, the executive deputy chairman of XL Catlin, who predicted
  that pressures on the insurance and reinsurance sectors would
  ensure that the..
  
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• Greater exposure for insurers following 'sexting' case

  29-01-2016 11:05
  
  Peta Fuller Postonline A legal expert has warned that the threshold for a successful civil ‘sexting’ claim appears extremely low, following a recentHigh Court case, and that insurers will be impacted.
  
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• Quiz of the week – 29 January

  29-01-2016 11:00
  
  Peta Fuller Postonline Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
  
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• Carole Nash hires compliance expert Sara Smith

  29-01-2016 10:55
  
  Smith joins with a 20 year history in regulation
  
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• Blog: Towards the uberisation of claims?

  29-01-2016 10:30
  
  Steven Richford Postonline Discussion in the insurance claims sector is increasingly about how customer care can be improved while keeping expenses down. And all eyes are turning to smart technology, believed to be capable of playing a role here.
  
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• Chubb confirms UK and Ireland underwriting management team

  29-01-2016 09:29
  
  Callum BrodiePostonline Chubb has unveiled its new underwriting product line management team for the UK and Ireland business following the acquisition by Ace.
  
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• Union urges RSA to review office closure amid 190 jobs risk

  29-01-2016 09:28
  
  Birmingham office closure a ‘big blow’, says Unite
  
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• Analysts praise Zurich's new hotshot boss Greco

  29-01-2016 09:15
  
  Former Generali boss is the right man to lead Zurich into better times, say analysts 
  
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• Analysts praise new Zurich hotshot boss Greco

  29-01-2016 09:15
  
  Former Generali boss is the right man to lead Zurich into better times, say analysts 
  
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• Henderson warns SMEs face insurance exclusion because of old flood data

  29-01-2016 09:01
  
  Government urged to review its flood data constantly 
  
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