Insurance news

• Henderson buys Branch Insurance

  30-06-2016 18:41 via insuranceage.co.uk
  
  Henderson strikes second deal of 2016.
  
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• Markerstudy buys telematics broker Drivology

  30-06-2016 18:24
  
  Insurance and broking group Markerstudy has bought app-based telematics broker Drivology.
  
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• Runner trips up while claiming ‘moderately severe’ whiplash

  30-06-2016 18:00
  
  An avid runner was found ‘fundamentally dishonest’ after tweeting pictures of himself running and hiking – while having an active claim for whiplash.
  
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• Moorhouse post-tax profit more than doubles in 2015

  30-06-2016 17:14 via insuranceage.co.uk
  
  However the firm sees cash balances fall from £2.1m to £1.6m following payments to the FCA and HMRC.
  
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• Markerstudy buys telematics firm Drivology

  30-06-2016 16:42 via insuranceage.co.uk
  
  Company confirms push for telematics and app based business.
  
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• Scor Global P&C reshuffles US management

  30-06-2016 16:35
  Scor Global P&C has promoted John Jenkins to P&C treaty
  reinsurance chief underwriting officer (CUO) for the Americas,
  according to an internal memo.
  Jenkins fills the role vacated by Jean-Paul Conoscente, who was
  promoted to CEO of the company's US P&C subsidiaries at the
  beginning of the year.
  In his new role, which takes effect from 1 July, Jenkins will
  report to Conoscente and Umberto Gavazzi, CUO for the worldwide
  treaty P&C operations of Scor Global P&C.
  Jenkins was pre
  
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• Russia creates state reinsurer amid competition concerns

  30-06-2016 16:35
  The Russian parliament has passed legislation that will allow the
  creation of a state reinsurer, which will be known as National
  Reinsurance Company (NRC).
  The Law on Organisation of the Insurance Industry in the Russian
  Federation passed a third reading in the State Duma last week (21
  June) following two months of debate.
  The move was prompted by Western sanctions introduced in the
  wake of Russia's annexation of Crimea in 2014, after foreign
  reinsurance companies began to refuse risks associate
  
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• Esure denies takeover offers

  30-06-2016 16:35
  UK-listed motor carrier Esure has denied receiving potential
  offers for a portion of the company.
  In a statement released today (30 June) following press
  speculation, the insurer said it had received no bids, and that it
  would continue to focus on the previously announced review into a
  mooted demerger of its Gocompare.com business.
  Esure shares jumped 13.8 percent on the reports, before
  flattening to a 7.49 percent gain as of 13:04 BST.
  Sky News reported that private equity firms and...
  
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• Chubb rebrands Ace New Zealand operation

  30-06-2016 16:35
  Ace Insurance in New Zealand will change its name to Chubb
  Insurance New Zealand from 1 July, the firm announced today (30
  June).
  The operation has around 60 staff in Auckland and Wellington and
  sells a mix of consumer, small and medium-sized enterprise and
  global corporate general insurance.
  At present, the carrier offers P&C insurance as well as a
  range of life products in the country, according to its website for
  the region.
  Country president for Chubb New Zealand Andrew...
  
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• Prolific motor fraudster sentenced to two years in prison

  30-06-2016 16:29
  
  A Lancashire man stole multiple hire cars – valued in excess of £200,000 – over a nine month period, but his scam was foiled by anti-motor fraud specialist APU.
  
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• No takeover approach received, says Esure

  30-06-2016 16:16 via insuranceage.co.uk
  
  Fresh speculation was sparked that GoCompare had been circled by private equity firms and overseas insurers.
  
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• Brexit means bad news for innovation says Atidot

  30-06-2016 15:22
  
  Start-up risk management company Atidot chief executive Dror Katzav has said that Brexit means bad news for innovation as innovation is “business for immigrants”.
  
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• Esure confirms no approaches made following speculation

  30-06-2016 15:16
  
  Esure has confirmed it has received no approaches regarding a potential offer for the company following speculation this morning.
  
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• Lloyd’s pushes for passporting as Brexit threatens £800m GWP

  30-06-2016 15:15
  
  Lloyd’s estimates that £800m of its gross written premium (GWP) could be affected if access to the single market is lost because of Brexit.
  
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• Elite Insurance to redomicile from Gibraltar following Brexit

  30-06-2016 15:04
  
  Elite Insurance will be looking to establish new headquarters outside of Gibraltar following the UK’s decision to leave the EU.
  
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• AA sells off its Irish businesses

  30-06-2016 15:00
  
  AA have sold off its Irish businesses comprising of AA Ireland Limited and its subsidiaries for €156.6m (£129.1m).
  
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• Markerstudy acquires telematics motor insurer Drivology

  30-06-2016 14:47
  
  Markerstudy has confirmed the acquisition of telematics motor insurer Drivology.
  
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• Willis’s Gaffney says risk is the future of insurance

  30-06-2016 14:09
  
  Willis Towers Watson chief technology officer Simon Gaffney has said that there are huge opportunities in the risk market for new people entering the insurance industry.
  
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• Esure says no takeover bids received, after share price spikes

  30-06-2016 13:50
  
  Esure said it has received no approaches about a potential offer for the company.
  
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• Acturis post-tax profit hits £14.83m

  30-06-2016 13:44 via insuranceage.co.uk
  
  Revenue also grows to £46.1m for 2015, up from £36.9m in the previous year.
  
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• LV= promotes two managing directors to its executive team

  30-06-2016 13:31
  
  LV= has promoted managing director of retirement solutions business John Perks and managing director of protection business Myles Rix to its executive team.
  
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• Elite looks to quit Gibraltar HQ to preserve EU passporting rights

  30-06-2016 13:20
  
  Elite Insurance said it is looking for a new headquarters outside of Gibraltar.
  
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• Perks and Rix promoted to LV executive team

  30-06-2016 13:14
  
  LV has promoted John Perks, managing director of its retirement solutions business, and Myles Rix, managing director of its protection business, to its group executive team.
  
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• CII launches career site for ex-service personnel

  30-06-2016 12:54 via insuranceage.co.uk
  
  New microsite is dedicated to helping ex-forces transition and explore a career in risk and insurance.
  
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• InsurTech Futures: 28% now turn to online channels to claim

  30-06-2016 12:48 via insuranceage.co.uk
  
  BT survey reveals increasing use of digital channels for insurance transactions.
  
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• Lloyd's says 4% of GWP put at risk by Brexit

  30-06-2016 12:42
  Lloyd's has identified that 4 percent of its global gross
  written premium (GWP) is likely to be affected by the UK's
  withdrawal from the EU single market.
  In documents outlining Lloyd's proposed plan following a UK
  exit from the European Union, the Corporation said that
  approximately £800mn ($1.1bn) of GWP would be affected.
  This comprises cross-border, non-marine, aviation and transport
  business, Lloyd's said.
  The European Economic Area (EEA) accounts for 11 percent, or
  £2.9bn, of t
  
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• Lloyd's names Gao head of greater China

  30-06-2016 12:42
  Lloyd's has handed Eric Gao an expanded role, appointing him
  head of the greater China region.
  Gao has been chairman and CEO of Lloyd's Insurance Company
  (China) Ltd since 2008.
  The greater China region has an expanded remit that includes
  Hong Kong, Macau and Taiwan, in addition to mainland China.
  Meanwhile, Tom Haddrill has been named Hong Kong general
  representative.
  Haddrill has been based in Hong Kong since December 2015 as
  interim country manager.
  In his new role, he will...
  
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• Markerstudy meets Gibraltar regulator over Brexit concerns

  30-06-2016 11:11
  
  Markerstudy has met with the Gibraltar Financial Services Commission to discuss the implications of a Brexit.
  
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• Cowens joins Una

  30-06-2016 11:02 via insuranceage.co.uk
  
  Alliance of brokers hints at further membership expansion in 2016.
  
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• IUA calls for quick resolution to EU passporting debate

  30-06-2016 11:01
  The International Underwriting Association (IUA) has called for
  a new trading relationship between the UK and the European Union
  (EU) to be established as soon as possible to curtail uncertainty
  in the wake of last week's Brexit vote.
  Following the trade body's annual general meeting yesterday
  (29 June), CEO Dave Matcham said the ability to trade freely in
  European markets via EU passporting was "vitally
  important" to IUA members.
  "Preserving this advantage must be a top priority in the
  exit...
  
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• Berkshire units receive cease and desist orders

  30-06-2016 11:01
  The California Department of Insurance has issued a cease and
  desist order to two Berkshire Hathaway companies for selling
  illegal workers' compensation policies.
  California Insurance Company (CIC) and Applied Underwriters
  Captive Risk Assurance Company, Inc (AUCRA) received the orders
  after Commissioner Dave Jones found the firms were using a complex
  insurance scheme to avoid regulatory review of rates and policy
  terms in a way that was disadvantaging small and medium-sized
  businesses.
  The orde
  
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• CII seeks to recruit ex-military into insurance

  30-06-2016 10:48
  
  The CII has launched a new microsite dedicated to helping ex-forces explore a career in risk and insurance.
  
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• Market moves: Keeping busy

  30-06-2016 10:30 via insuranceage.co.uk
  
  Insurance companies have kept themselves busy when it comes to hiring new staff
  
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• Brokers welcome swell in MGA numbers

  30-06-2016 10:30
  
  Relative ease of setting up MGAs and promoting choice in market cited as reasons for increase
  
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• Underwriters want speedy post Brexit settlement - with passporting rights

  30-06-2016 10:22
  
  A new trading relationship between the UK and the EU must be set out as soon as possible, and it must include passporting rights, according to the International Underwriting Association (IUA).
  
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• IUA urges quick resolution to UK EU trade talks

  30-06-2016 10:14
  
  The International Underwriting Association has called for talks to begin as soon as possible on the UK's new trading relationship with the EU following last Thursday’s Brexit vote.
  
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• Consumers call on insurance providers to simplify digital self-service

  30-06-2016 09:58
  
  Consumers want insurance providers to make digital self-service easier, research from BT and Avaya has revealed.
  
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• UK insurers 'better off outside EU', says former Civil Service head

  30-06-2016 09:26
  
  UK insurers will be better off outside the EU because they can escape the “absolutely dreadful” Solvency II rules, according to the former head of the Civil Service.
  
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• AA sells Irish insurance-led business for €156.6m

  30-06-2016 08:40
  
  The AA said it has agreed to sell its Irish business to the Carlyle private equity firm for €156.6m (£130m) in cash.
  
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• Europe: Motor tops complaints and Rosgosstrakh tops the rankings for fines in Russia

  30-06-2016 08:30
  
  The prospects of the insurance market don't look bright in Russia, where dissatisfaction with motor policies is growing, Rosgosstrakh is topping the national fines ranking, and the Central Bank has expressed concerned over the quality of assets of one in three insurers.
  
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• How insurers can grow telematics propositions in the UK

  30-06-2016 08:12
  
  Post’s first Motor Insurance World conference hosted a VIP roundtable, debating how insurers can grow telematics propositions in the UK and help motor insurance shed its distress purchase tag
  
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• QBE's Jeff Carr on partnerships in risk management

  30-06-2016 08:00
  
  The future and what it holds was a dominant theme at this year’s Association of Insurance and Risk Managers conference, as the risk management community gathered to discuss emerging risks, the changing risk environment and how old threats are morphing into new challenges.
  
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• Tech & Innovation Awards shortlist announced

  30-06-2016 07:30
  
  An extensive array of technology firms, insurers and brokers have been shortlisted for the Insurance Times Tech & Innovation Awards 2016.
  
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• Tech & Innovation Awards 2016 shortlist announced

  30-06-2016 07:30
  
  An extensive array of technology firms, insurers and brokers have been shortlisted for the Insurance Times Tech & Innovation Awards 2016.
  
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• Ace changes name in New Zealand

  30-06-2016 04:33
  
  Ace has switched its name in New Zealand to Chubb Insurance New Zealand following its purchase of Chubb's global operations.
  
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