Insurance news

• Swinton Insurance unveils concept branch in Preston to provide great flexibility

  17-06-2016 18:29
  
  Swinton Insurance has unveiled a new concept branch in Preston, Lancashire, following a wide-ranging strategic review of the business.
  
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• Inet3 launches flood cover for non-standard home risks

  17-06-2016 17:56
  
  Specialist property managing general agent Inet3 has launched non-standard home risks cover on Flood Re, with the support of a new learning hub for brokers.
  
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• Allianz to acquire Zurich Assurances Maroc for €244m

  17-06-2016 17:54
  
  A binding agreement has been announced for Allianz to acquire Zurich Assurances Maroc, a subsidiary of Zurich Insurance in Morocco, for €244m (£192m).
  
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• Zurich Insurance Masters: The winner of the Southern Qualifier

  17-06-2016 17:30 via insuranceage.co.uk
  
  Peter Cook of Herts Insurance Consultants and Flux Direct triumphs at Goodwood.
  
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• Insurance lawyers warn about 'pseudo lawyers' in small claims courts

  17-06-2016 17:30
  
  The government’s crackdown on bogus whiplash claims could backfire and actually strengthen the role of claims management companies, according to the Forum of Insurance Lawyers (FOIL).
  
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• Swinton opens first pilot branch in Lancashire

  17-06-2016 16:24 via insuranceage.co.uk
  
  Broker unveils new concept branch in North West England.
  
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• Allianz pays EUR244mn for Zurich Moroccan unit

  17-06-2016 16:10
  Allianz has entered into a binding agreement to acquire
  Zurich's Moroccan subsidiary Zurich Assurances Maroc for
  EUR244mn ($274mn), it announced today (17 June).
  The Moroccan business, which generated EUR114mn in gross written
  premium in 2015, was placed under auction earlier this year.
  Zurich Assurances Maroc also has a licence for life and health
  insurance products that Allianz plans to utilise, the firm said in
  a statement.
  "This deal is a major milestone for our strategy to expand
  in Africa.
  
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• Register your insurance apprentices for Apprenticeships Live 2016

  17-06-2016 15:51
  
  The CII Apprenticeships Live event is open for entry - register your apprentices now
  
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• Call for insurance apprentices to register for Apprenticeships Live

  17-06-2016 15:51
  
  The CII Apprenticeships live event is now open for entries.
  
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• Foo fighters suing and motor premiums falling; interview with Insure The Box CEO

  17-06-2016 15:04
  
  Insurance news and Post exclusives of the past week, in case you missed them
  
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• Probitas names financial lines head

  17-06-2016 14:23
  Probitas Syndicate 1492 has today (17 June) confirmed the
  appointment of Charles Boorman as head of its financial lines team,
  effective immediately.
  Sister title Inside FAC reported in
  January that Boorman had left his previous employer QBE and that he
  was likely to join Probitas Syndicate 1492.
  Probitas launched its financial lines team in March this year
  with the appointment of James Andlaw, senior underwriter for
  management liability and Paul Nolan, senior underwriter for
  professional indemni
  
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• Flood losses to hit French and German H1 results

  17-06-2016 14:23
  The first half 2016 earnings of French and German insurers will be
  dampened by flood losses following storms Elvira and Friederike,
  according to an AM Best note released yesterday (16 June).
  The ratings agency said that insured losses from the floods were
  estimated at between EUR0.9bn and EUR1.4bn ($1.01bn and $1.58bn)
  for the French market and around EUR1.2bn for German insurers.
  Alex Rafferty, financial analyst and contributor to the AM Best
  note, said that the market was expecting 150,000 cla
  
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• CGSC appoints head of strategy and change

  17-06-2016 14:23
  Cooper Gay Swett & Crawford (CGSC) has appointed Wendy
  Kilminster as head of strategy and change, it announced today (16
  June).
  She takes up her role in September and will report to Andy
  Wallin, group commercial director.
  Kilminster joins from Lloyd's where she served most recently
  as head of strategy and planning, and was responsible for leading
  strategy development and determining response to market environment
  issues.
  Prior to this, Kilminster held the position of strategic
  development ma
  
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• Five things you did not know about LV='s new chief executive Richard Rowney

  17-06-2016 14:07
   
   
  
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• Swinton revamps Preston branch as part of high-street overhaul

  17-06-2016 13:53
  
  Swinton has opened its newly-refurbished Preston branch as part of an overhaul of its high-street presence.
  
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• Elite Insurance and QMetric sign five year deal

  17-06-2016 13:43
  
  Elite Insurance has signed a fresh five year deal with QMetric, owner of the Policy Expert brand.
  
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• iFarm launches new quote and buy platform

  17-06-2016 13:39 via insuranceage.co.uk
  
  The farm specialist unveils new platform to cut turnaround times for quotes.
  
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• Zurich makes two new appointments as string of changes continues

  17-06-2016 13:24
  
  Zurich has made two appointments to replace departing personal lines and Endsleigh managing director Patrick Cohen, the latest in a series of changes amid a global restructure bringing general insurance and life business together.
  
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• inet3 unveils non-standard property Flood Re solution

  17-06-2016 12:29
  
  Inet 3, a specialist property managing general agent (MGA), has launched its Flood Re solution for non-standard home risks.
  
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• Rowney will move LV toward being ‘challenger brand’

  17-06-2016 12:05
  
  The newly appointed CEO of LV will take the company towards being a “challenger brand” in the next five years.
  
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• Storms Elvira and Friederike will dampen French and German earnings

  17-06-2016 11:59
  
  Storms Elvira and Friederike will dampen the first half 2016 earnings of French and German insurers, though it is unlikely there will be any negative rating actions as a result, according to AM Best.
  
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• Deloitte appoints new regulatory partner

  17-06-2016 11:40
  
  A former Bank of England regulation director has joined Deloitte, a business advisory firm.
  
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• LMA hires operations director

  17-06-2016 11:34
  The Lloyd's Market Association (LMA) has hired Tom Payne as
  director of market operations, it announced yesterday (16 June).
  He takes up the role from 22 June and replaces Rob Gillies, who
  retired earlier this year.
  The LMA said Payne's immediate area of attention would be
  Target Operating Model activity including Placing Platform Limited,
  the Central Services Refresh Programme and delegated
  authorities.
  In addition, he will focus on the continued evolution of market
  processes, the provision of
  
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• Kumamoto quake claims near $3bn

  17-06-2016 11:34
  Claims from the earthquake that struck Japan's Kumamoto
  Prefecture in April have now reached $2.9bn, according to the
  General Insurance Association of Japan.
  As of 13 June, 190,311 claims totalling 301bn yen ($2.88bn) had
  been paid by domestic and foreign insurance companies, the
  association said.
  The Kumamoto region alone has seen claims of 287bn yen, while
  the Oita Prefecture is the second most impacted region with claims
  totalling just 7.43bn yen.
  The claims figures are now heading towards th
  
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• Korean Re expects record profit for 2016

  17-06-2016 11:34
  Korean Re is expecting a record net profit of 190bn won ($162mn)
  for 2016, up 1.9 percent on the previous year, according to local
  media outlet Pulse News.
  An unnamed investor relations official from the company told the
  publication the figure was "reasonably conservative," and
  the actual bottom line figure would be higher.
  According to the source, Korea's sole reinsurer has
  experienced an increase in the number of new contracts with
  insurers after Standard & Poor's raised its credit rating.
  
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• AmTrust acquires workers' comp MGA

  17-06-2016 11:34
  AmTrust has acquired managing general agency Total Program
  Management LLC (TPM) for an undisclosed cash amount, the
  international specialty (re)insurer announced yesterday (16 June).
  New York-based TPM focuses on programmes that offer workers'
  compensation insurance to the healthcare industry. The firm was
  responsible for insurance premiums totalling $47.1mn in 2015.
  AmTrust was already the insurer for the majority of premiums
  written through TPM, according to the statement.
  Barry Zyskind, chair
  
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• Cooper Gay hires strategy and change head

  17-06-2016 11:28
  
  Broking group Cooper Gay Swett & Crawford (CGSC) has hired Wendy Kilminster as head of strategy and change.
  
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• Quizzical questions: 17 June 2016

  17-06-2016 11:10
  
  Test your knowledge of the week’s news with our topical news quiz.
  
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• Euro 2016: Slovakia v England chemicals match-up - Final score 3:4

  17-06-2016 11:00
  
  Slovakia is meeting England in the group stage of the Euro 2016. But how do both countries compare in terms of chemicals industry performances and trading risks?
  
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• Ash Bathia’s Lloyd’s syndicate hires QBE financial lines head

  17-06-2016 10:48
  
  Probitas 1492, the Lloyd’s syndicate run by Ash Bathia (pictured), has hired QBE’s former financial lines head Charles Boorman.
  
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• Cavere Insurance launches Flood Re enabled home insurance

  17-06-2016 10:23 via insuranceage.co.uk
  
  Product for brokers is underwritten by Ageas.
  
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• Euro 2016: Switzerland v France pharmaceutical match-up - Final score 4:5

  17-06-2016 10:00
  
  Switzerland is meeting France in the group stage of the Euro 2016. But how do both countries compare in terms of pharmaceutical industry performances and trading risks?
  
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• LV appoints Richard Rowney as CEO

  17-06-2016 09:20
  
  Richard Rowney has been announced as successor to Mike Rogers as chief executive of LV.
  
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• LV= names 'exceptionally talented' new boss

  17-06-2016 09:00
  
  .
  
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• Euro 2016: Belgium v Ireland food match-up - Final score 4:5

  17-06-2016 09:00
  
  Belgium is meeting Ireland in the group stage of the Euro 2016. But how do both countries compare in terms of food industry performances and trading risks?
  
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• Digital Insurance World Blog: Taking your customer experience online

  17-06-2016 08:19
  
  While insurers and brokers have successfully adapted to disruption in the past, there is now a digital revolution, where fundamental technology innovations such as the Internet of Things and big data are having a radical and rapid effect on the way we live our lives.
  
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• Digital: Gamification: Playing games

  17-06-2016 08:00
  
  In the war for consumer attention, games could be a way to win over hearts and minds, and – most importantly – the customer’s time
  
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• Velocity gathers pace in E&S space with $300mn property line

  17-06-2016 00:49
  Nephila's Velocity Risk Underwriters is making inroads into the
  excess and surplus lines (E&S) property insurance space as it
  looks to build its cat-focused book of business.
  The managing general agency (MGA) began underwriting at the
  start of the year and is now offering up to $300mn of limit per
  account through wholesaler AmWINS.
  It is able to write accounts with up to $1bn total insured
  value, participating on a whole account or co-participation basis,
  as well as offering primary,...
  
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• General Star adds contractors to delegated division

  17-06-2016 00:49
  Gen Re's E&S unit General Star Management Company has added
  artisan contractor coverage to its delegated authority offering.
  Including 25 artisan contracting classes, the new coverage will
  be offered in Maine, Massachusetts, New Hampshire, New Jersey,
  Oklahoma and Vermont, said the company.
  The primary contractor general liability cover will be written
  on an occurrence basis with limits up to $1mn per occurrence, $2mn
  general aggregate, with $2mn for products and completed operatnois
  aggrega
  
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• Former Marsh execs lose appeal over bid-rigging severance claim

  17-06-2016 00:49
  Former Marsh executives William Gilman and Edward McNenney have
  lost their appeal against a court ruling last year that dismissed
  their attempts to recover pay and stock awards after they were
  cleared in a bid-rigging probe.
  In a judgment last January, District Judge Paul Oetken said the
  executives failed to show that they were entitled to the awards in
  their employment contracts.
  The ruling was made despite Judge Oetken accepting their claim
  that they were fired from Marsh in 2004...
  
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• E&S market share could top 10%: AAMGA academic

  17-06-2016 00:49
  The recently elevated E&S share of the overall US P&C
  market could top 10 percent, according to the AAMGA's
  distinguished chair on risk management at Georgia State University
  Dr George Zanjani.
  In an article for the latest publication from the US trade body
  for managing general agents, Zanjani said growth could be driven by
  declining interest rates, big data and catastrophe risk.
  He noted that there had been little sign of the E&S market
  share retreating back to historic norms...
  
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