Insurance news

• Jain to add Gen Re to empire as Montross retires

  12-04-2016 18:26
  Franklin "Tad" Montross is to retire as chief
  executive of General Re, with the business set to fall under the
  aegis of Berkshire Hathaway reinsurance division CEO Ajit Jain,
  The Insurance Insider can reveal.
  Montross, CEO of the $6bn premium reinsurance business since
  2008, reported directly to Berkshire Hathaway group CEO Warren
  Buffett.
  A new CEO of Gen Re will be appointed, but they will now report
  to Jain as his empire continues to grow.
  The news may strengthen speculation...
  
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• Hamilton hires PI head for Lloyd's platform

  12-04-2016 18:26
  Hamilton's Lloyd's arm has hired Daniel Prince as head
  of professional indemnity, it announced today (12 April).
  Prince joins Hamilton Underwriting Limited, the managing agency
  of Syndicate 3334, from Barbican, where he was underwriting manager
  for professional indemnity. He has also previously held roles at
  Zurich and Travelers.
  Hamilton Underwriting CEO Dermot O'Donohoe said:
  "We've come a long way since acquiring our managing agency
  and syndicate just a year ago. The talent and expertise at H
  
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• Fraudsters targeting insurance staff in ‘pubs, cafes and on social media’

  12-04-2016 14:24
  
  Insurance employees are the latest target of criminals looking for sensitive customer data with fraudsters following staff from their workplaces and approaching them online, according to officers from the Insurance Fraud Enforcement Department.
  
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• Insurance staff followed from work as fraud agency warns about data thieves

  12-04-2016 14:23
  
  Insurance staff are being watched by fraudsters as they leave their office the City of London Police has revealed.
  
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• Wunelli launches user-installable telematics device

  12-04-2016 13:15
  
  Telematics provider Wunelli has launched a user-installable telematics device that plugs into a car’s 12-volt cigarette lighter socket.
  
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• NCI targets £1.2m GWP as it enters equine market

  12-04-2016 12:57
  
  NCI aims to net £1.2m gross written premium in the first year from its first venture into equine cover.
  
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• Wunelli unveils ‘plug and play’ telematics device

  12-04-2016 12:37
  
  Telematics provider Wunelli is launching a data collection device, cutting the cost of telematics by around 85% on current hardwired options.
  
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• LMG launches CSRP initiative

  12-04-2016 12:14
  The London Market Group (LMG) has launched the Central Services
  Refresh Programme (CSRP), one of its key modernisation initiatives,
  it announced today (12 April).
  The CSRP has been launched with broker Aon Benfield and aims to
  standardise the electronic process for premium and claims
  accounting.
  The LMG said that the first premium submissions were completed
  this week and that related payments would occur over the next few
  days.
  While the initial launch will focus on premium submissions,
  further
  
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• Bermuda opens ownership register to UK authorities

  12-04-2016 12:14
  Bermuda will share its register of company ownership with UK
  authorities following the publication of the "Panama
  Papers" earlier this month.
  Premier Michael Dunkley said that while the island already
  shares information with British tax authorities if it is requested
  within 24 hours, he had agreed to extend access after a request by
  the UK National Crime Agency (NCA), according to The Royal
  Gazette.
  Dunkley said the move reflected "Bermuda's long-held
  commitment to deterring money-laundering and
  
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• Home & Legacy refreshes home offering to cover market value increases

  12-04-2016 10:56
  
  Home & Legacy has refreshed its home offering to take into account the fluctuating values of household items.
  
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• Insurance Compliance Careers: The land of opportunity?

  12-04-2016 10:30
  
  With so many rules and regulations within insurance, it is no surprise that jobs in this sector are plentiful. But are compliance staff enablers or blockers and how attractive is it as a career?
  
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• C-Suite Insurer: Axa's Jon Walker on the elephant in the room – the broker-insurer relationship

  12-04-2016 10:30
  
  Culturally, the industry has come a long way in the past few years.
  
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• Axa calls for end to 'mudslinging' in Flood Re debate

  12-04-2016 10:30 via insuranceage.co.uk
  
  David Williams urges the industry to grab a "huge opportunity".
  
  Read more

• Reputation risk an “opportunity” for brokers

  12-04-2016 10:19
  
  Gaps in protection offer chance of extra business for brokers according to CII’s New Generation Group.
  
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• Home & Legacy refreshes household cover

  12-04-2016 10:00
  
  High net worth specialist adds market appreciation cover.
  
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• Unrated Gable battles to build broker trust

  12-04-2016 09:52
  
  Unrated Liechtenstein-based insurer Gable has had a tough time recently. Its share price is down 88% from its 87.25p peak in 2014, and profitability has suffered as it has worked to close the gap between the reserves it holds and what actuaries think it should hold.
  
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• Axa creates London real estate division

  12-04-2016 09:45
  
  Bespoke unit to be led by Ryan Birbeck.
  
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• Bollington expands further into motor trade with Scottish hire

  12-04-2016 09:03
  
  Bollington Insurance is planning to expand its motor trade business following the hire of a new motor trade account manager.
  
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• Beazley and Munich Re to launch cyber offering with broader cover

  12-04-2016 08:55
  
  Beazley and Munich Re are planning to launch a cyber offering.
  
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• AXA creates separate real estate arm amid push for further growth

  12-04-2016 08:54
  
  AXA Insurance has created a standalone real estate division to take advantage of the double digit growth the division has seen.
  
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• Wolfe confirmed as head of US P&C for Swiss Re

  12-04-2016 08:04
  Keith Wolfe, who was drafted in to head up Swiss Re's US
  P&C operation on a temporary basis after the departure of Bill
  Donnell, has been permanently appointed to the role, the carrier
  announced today (11 April).
  Wolfe has been named as president of Swiss Re America
  Corporation in addition to his responsibilities leading the
  carrier's regional and national team.
  The new role will see the executive take responsibility for all
  legal entity management, rating agency and regulatory interaction
  o
  
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