Insurance news

• Swiss Re Corporate Solutions appoints LatAm chief

  01-07-2016 18:26
  Swiss Re Corporate Solutions has promoted Axel Brohm to CEO of
  its Latin American business, the company announced today (1
  July).
  He succeeds Ivan Gonzalez, who has moved to head the
  reinsurer's North American segment.
  Brohm will relocate from his current base in Zurich to Miami
  within the coming months, the company said.
  He previously served as head of corporate development from 2012,
  and oversaw the acquisition and ongoing integration of Colombian
  specialty insurer Seguros Confianza.
  Prior to
  
  Read more

• AXA’s Blanc and RSA’s Lewis join ABI board as Evans and Hester exit

  01-07-2016 17:40
  
  AXA UK chief executive Amanda Blanc and RSA UK and western Europe chief executive Steve Lewis have joined ABI’s board.
  
  Read more

• Amanda Blanc and Steve Lewis join ABI board

  01-07-2016 17:36
  
  Top bosses at Axa and RSA have been appointed to the board of the Association of British Insurers.
  
  Read more

• Gable suspends shares pending annual report

  01-07-2016 17:05
  Liechtenstein-based carrier Gable has suspended the trading of
  its shares on the Alternative Investment Market exchange pending
  the publication of its 2015 accounts.
  In a statement released today (1 July), Gable said it had filed
  its accounts locally, and expected to publish its annual report
  early this month.
  The struggling insurer also said its board had decided to write
  off the balance of an after-the-event policy receivable amounting
  to £1.9mn ($2.5mn).
  It will also write off £4.
  
  Read more

• Advertisement

• Market welcomes Compass MBO

  01-07-2016 16:22
  
  Members and experts say new independence is positive and John Lincoln says it will help Compass grow.
  
  Read more

• Labour's McDonnell says passporting rights 'vital'

  01-07-2016 16:02
  
  The Labour Party will seek to preserve passporting rights for financial services including insurance.
  
  Read more

• Brexit consequences dominate insurance news; interview with XL Catlin's CEO

  01-07-2016 15:01
  
  Here are the important insurance news and Post exclusives of the past week, in case you missed them.
  
  Read more

• 'True independence after MBO will drive growth': Compass MD Lincoln

  01-07-2016 14:24
  
  Compass managing director John Lincoln said that becoming independent would drive growth for the network as it targets £1bn in gross written premiums over the next three to five years.
  
  Read more

• Advertisement

• Car hire websites ordered to make charges clear

  01-07-2016 14:15
  
  Competition and Markets Authority says areas of concern include insurance, young driver surcharges and petrol policies
  The long list of surprise extras that holidaymakers have to pay when hiring a car could become a thing of the past after comparison websites were ordered to clean up their act. The Competition and Markets Authority (CMA) has told the major car hire websites that they must offer a “transparent drive-away price – including every mandatory charge and any options they ch
  
  Read more

• Beazley brings in LaSala as non-executive director

  01-07-2016 14:12
  London-listed Beazley has appointed Christine LaSala as a
  non-executive director, effective today (1 July).
  Based in New York, LaSala recently retired as chair of Willis
  Towers Watson North America.
  She is also a former president and CEO of WTC Captive Insurance
  Company and boasts a career spanning more than 20 years at Johnson
  & Higgins, where she was a partner and ultimately managed one
  of the company's largest business units.
  When Johnson & Higgins was acquired by Marsh & McLennan
  
  Read more

• Runner ordered to pay Aviva £9,213 after ‘fundamentally dishonest’ whiplash claim

  01-07-2016 13:22
  
  A runner has been ordered to pay Aviva’s cost of £9,213 after an investigation into his whiplash claim saw him running, hiking and working.
  
  Read more

• Gallagher sells Compass

  01-07-2016 13:22
  
  Network's management team remains the same following an MBO from Gallagher.
  
  Read more

• Compass completes MBO from Gallagher

  01-07-2016 13:02
  
  Broker network Compass has completed its management buy-out (MBO) from broking group Arthur J Gallagher, Insurance Times can reveal.
  
  Read more

• Quizzical questions: 1 July 2016

  01-07-2016 13:00 via insuranceage.co.uk
  
  Test your knowledge of the week’s news with our topical news quiz.
  
  Read more

• Water leak detector could save industry millions a year

  01-07-2016 12:59
  
  A new product that detects water leaks early could save the UK insurance industry millions a year, Homeserve Labs have said.
  
  Read more

• Final RSA LatAm sale closes

  01-07-2016 12:45
  The sale of RSA's Uruguayan arm to Suramericana has closed to
  complete the Colombian insurer's acquisition of RSA's Latin
  American operations.
  Suramericana, part of Grupo de Inversiones Suramericana, struck
  an all-cash deal to acquire all of RSA's Latin American
  subsidiaries for £403mn ($546mn).
  The Insurance Insider revealed in
  March last year that RSA had appointed an investment bank to
  auction the segment.
  The sale of the Brazilian business completed on 29 February,
  while the Colombian
  
  Read more

• Zurich UK GI head Sharma leaves

  01-07-2016 12:45
  Vibhu Sharma has resigned from his position as head of
  Zurich's UK general insurance (GI) business, the company
  announced today (1 July).
  Sharma will be replaced by the group's Ireland GI chief
  Conor Brennan, who will take up the role at the end of this
  month.
  Zurich said Sharma had left the company to pursue other
  opportunities.
  The moves follow an announcement last month that the carrier
  would amalgamate its GI and life businesses into a single structure
  across all...
  
  Read more

• Acturis hit 25% growth in revenue

  01-07-2016 12:06
  
  Software service provider to the insurance industry, Acturis, has announced a financial growth of 25% in 2015.
  
  Read more

• Zurich managing director leaves to join Towergate

  01-07-2016 11:39
  
  Kay Martin will be joining Towergate’s executive committee as commercial director from Zurich in a bid to optimise its digital offerings.
  
  Read more

• PartnerRe revamps business structure

  01-07-2016 11:23
  PartnerRe has restructured its business into three worldwide
  segments, effective 1 July, it announced yesterday (30 June).
  The P&C business will be led by Tad Walker, who is currently
  North America president and CEO.
  The unit will provide cover for P&C risks, including
  property catastrophe and facultative reinsurance, through five
  regional units: North America, Europe, Asia, Latin America, and
  Middle East, Africa and Russia.
  The specialty lines segment, led by PartnerRe Global CEO Charle
  
  Read more

• Kumamoto quake losses surpass modelling estimates

  01-07-2016 11:23
  Claims from the earthquake that struck Japan's Kumamoto
  prefecture in April edged up 3.6 percent in the last week to hit
  329bn yen ($3.2bn), according to the General Insurance Association
  of Japan.
  The losses now exceed the top estimate of modelling agency AIR
  Worldwide, which put claims at 320bn yen, and were already well
  over the figure from RMS.
  According to the association, domestic and foreign insurance
  companies have so far paid out 209,293 claims, 186,684 of which are
  based...
  
  Read more

• Sharma leaves Zurich amid restructure and Brennan takes on UK GI role

  01-07-2016 11:12
  
  Vibhu Sharma has left his role as Zurich’s UK country manager and head of general insurance business, amid wider restructuring at the company.
  
  Read more

• Vibhu Sharma to leave Zurich

  01-07-2016 10:57
  
  Conor Brennan has been appointed the head of UK general insurance for the insurer.
  
  Read more

• First driverless death will push full autonomy further down the road

  01-07-2016 10:54
  
  The first potential death caused by a Tesla car will push the reality of fully autonomous vehicles further down the road and have repercussions for the insurance industry, experts have warned.
  
  Read more

• Towergate hires Kay Martin as commercial director

  01-07-2016 10:53
  
  Martin joins from Zurich UK.
  
  Read more

• Zurich UK GI boss Vibhu Sharma to leave

  01-07-2016 10:48
  
  Zurich UK general insurance chief executive Vibhu Sharma is leaving the company “to continue his career outside the group”.
  
  Read more

• James Hallam opens Birmingham office

  01-07-2016 10:45
  
  The London-based broker is expanding its national footprint.
  
  Read more

• Towergate appoints Zurich's Martin as commercial director

  01-07-2016 10:37
  
  Towergate named Kay Martin as its new commercial director.
  
  Read more

• Reinsurance market could 'bump along the bottom for years' claims Willis Re

  01-07-2016 10:27
  
  Reinsurance rate softening has continued through the June/July renewal season and may “bump along the bottom for years”, according to Willis Re.
  
  Read more

• Reinsurance market could 'bump along the bottom for years' claim Willis Re

  01-07-2016 10:27
  
  Reinsurance rate softening has continued through the June/July renewal season and may “bump along the bottom for years”, according to Willis Re.
  
  Read more

• Gable requests suspension from stock market

  01-07-2016 10:20
  
  Unrated insurer Gable has requested temporary suspension from the AIM stock market until the publication of its annual report.
  
  Read more

• Gable suspends shares

  01-07-2016 10:13
  
  The shares have been suspended and company confirms that CEO William Dewsall’s regulatory guarantee contribution has “significantly reduced”.
  
  Read more

• Self-driving car claims first road death

  01-07-2016 09:47
  
  .
  
  Read more

• Gable crisis deepens amid stock market suspension request

  01-07-2016 09:37
  
  .
  
  Read more

• The broker agenda

  01-07-2016 09:30
  
  Biba’s Steve White explains that with constant big changes for brokers the trade body is already planning for 2017
  
  Read more

• The stats: July 2016

  01-07-2016 09:25
  
  The latest SSP ratings for the public liability market have revealed a mix of months with a high degree of volatility and months of stability bordering on stasis.
  
  Read more

• ​Investors warned of risks amid esure takeover talk

  01-07-2016 09:01
  
  .
  
  Read more

• Space debris pose insurance challenge

  01-07-2016 08:00
  
  Space is getting crowded. Since man started sending satellites into orbit in 1957, we've left behind an ever-growing trail of debris, and this is posing a significant threat to operational satellites.
  
  Read more

• Freddie Mac mortgage (re)insurance transfer hits $5bn

  01-07-2016 02:24
  A trio of new (re)insurance policies structured and placed by
  Aon Risk Solutions and Aon Benfield have taken total credit risk
  transfer by US mortgage guarantor Freddie Mac to $5bn.
  In a release, Aon said the milestone had been reached with the
  inception of the policies under Freddie Mac's agency credit
  insurance structure (ACIS) programme, which represented the largest
  aggregate transaction by the government sponsored enterprise (GSE)
  to date.
  The firm said that the three policies provided up t
  
  Read more

• The Hanover launches Bermuda E&S vehicle

  01-07-2016 00:56
  The Hanover's new Bermuda subsidiary has been assigned an A
  rating by AM Best as the US insurer uses the vehicle to support its
  expansion in the E&S space.
  The new entity, The Hanover Atlantic, was set up in April this
  year and has a 100 percent reinsurance agreement with its US
  parent.
  The vehicle was formed to support The Hanover's strategy of
  diversification through the expansion of its E&S product
  offerings in the US to its network of retail...
  
  Read more

• RLI offers new excess cyber cover

  01-07-2016 00:56
  US specialty insurer RLI has launched a new cyber liability cover
  through its executive products group.
  The policy offers first and third party coverage options to
  protect medium-to-large sized firms against financial losses and
  damages from cyber attacks and data breaches.
  The coverage will initially be offered on an excess basis, with
  the carrier set to launch a primary cyber liability policy soon, it
  said in a statement.
  RLI is providing risk management tools and resources in
  connection with
  
  Read more

• Admiral promotes Zeitman to president

  01-07-2016 00:56
  E&S writer Admiral Insurance has named Scott Barraclough as its
  new president, with his predecessor, Steven Zeitman, moving into
  the chairman position.
  The appointments are effective immediately, said Admiral's
  parent WR Berkley in a statement today (30 June).
  Barraclough is promoted from his position as executive vice
  president and has spent two decades at New Jersey-based Admiral,
  which writes general liability, professional liability, property
  and excess coverage.
  Commenting on the appoin
  
  Read more

Follow @Insurance_UKnws on Twitter!