Insurance news

• Hamilton picks Maag to build out US platform

  03-10-2016 23:12
  Hamilton Insurance Group has named Seraina Maag as CEO of its US
  insurance platform, tapping the AIG veteran to replace Bob Deutsch,
  the chief strategy officer who filled the role on an interim basis.
  Maag's resume features more than 25 years of experience in
  the insurance industry, most recently with AIG, where she led
  regional operations until mid-February.
  The executive left the company amid CEO Peter Hancock's
  campaign to cut costs by trimming the senior ranks.
  Last month AIG joined...
  
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• JLT Re hires workers' comp SVP in US

  03-10-2016 20:01
  JLT Re North America has appointed John Speckman as a senior vice
  president in its Connecticut office, it announced today.
  Speckman will be part of the broker's workers'
  compensation and programmes practice groups.
  He joins from Atlas General Insurance Services, where he was
  executive vice president of business development.
  Prior to joining Atlas, Speckman served as a director at Aon
  Benfield, specialising in general casualty with a focus on
  specialty programmes, workers' compensation and profes
  
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• African non-life premiums stand at $20.4bn

  03-10-2016 20:01
  Non-life premiums in Africa amounted to $20.4bn in 2015, according
  to a report released today by consultancy Dr Schanz, Alms &
  Company.
  The report found that the $20.4bn represented about 1 percent of
  global non-life premiums.
  Net of inflation, the Republic of Congo, Ghana and Kenya
  recorded the steepest growth of non-life insurance premiums from
  2011 to 2015.
  While the rationale was not provided, a Dr Schanz, Alms &
  Company spokesperson explained that infrastructure investment and
  devel
  
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• Das suffers further management exits

  03-10-2016 16:23 via insuranceage.co.uk
  
  Head of ATE division Mark Rhoder is set to leave the legal expenses insurer.
  
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• Zurich Insurance Masters Winner: Peter Cook of Herts Insurance Consultants

  03-10-2016 16:12
  
  Champion reveals his best and worst shots and just where he’ll be keeping the trophy.
  
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• Video: In times of need

  03-10-2016 15:37 via insuranceage.co.uk
  
  How are Aviva on your side in times of change, by your side in times of need? How do Aviva protect your clients when the worst happens Watch their latest video today.
  
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• A-Plan explores digital channels

  03-10-2016 15:27
  
  Broker explores "omni-channel" but reiterates commitment to face-to-face service.
  
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• Second Dive In Festival wraps up after three days of events

  03-10-2016 15:24
  
  The second annual Dive In Festival for Diversity and Inclusion concluded its three day international events programme on Friday.
  
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• Seventeen Group reports profit up 12%

  03-10-2016 14:38
  
  Retention and the strength of client relationship has generated new business.
  
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• Motor premiums could drop 80% by 2040: report

  03-10-2016 14:32
  The global motor insurance sector could see premiums fall by up
  to 80 percent in mature markets by 2040 as disruptive trends buffet
  the industry, according to Boston Consulting Group (BCG) and Morgan
  Stanley.
  In a report released today, the companies warned that a
  significant portion of the $200bn market is at risk, as new car
  technology, data availability, digitisation, regulation and world
  economics put the sector on the brink of dramatic change.
  A heavy disruption scenario could see voluntary
  
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• France attempts to lure insurers post-Brexit

  03-10-2016 14:32
  The Autorité de contrôle prudentiel et de résolution
  (ACPR) and the Autorité des marchés financiers (AMF) have
  pledged to simplify and speed up licensing procedures for UK-based
  firms that want to set up operations in France.
  In a joint statement released late last week (28 September), the
  French regulators said they would use documents already available
  in English and appoint an English-speaking contact to guide
  insurance companies during the application proces
  
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• Everest turns to Lex for E&S property replacements

  03-10-2016 14:32
  Everest National has moved quickly to replace the Tracy Upton-led
  team that left for Rockhill late last month by hiring a number of
  former Lexington property executives, The Insurance
  Insider can reveal.
  The Bermudian's US platform is also understood to have added
  new personnel from CV Starr, CNA and Marsh as it looks to rebuild
  its property underwriting resources.
  According to sources, Erik Nikodem, who joined Everest from AIG
  as head of US property earlier this year, has turned to...
  
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• Cyber tops list of transport industry fears

  03-10-2016 14:32
  Heightened security threats from cyber and data privacy breaches
  has topped a poll of transport industry executives' risk
  concerns, according to Willis Towers Watson.
  In its 2016 Transportation Risk Index report, released today,
  the broker said its survey of 350 senior transport executives
  revealed that the sector's increasing reliance on technology
  and the use of third parties had multiplied entry points for
  companies' systems.
  Technological developments including automation and the rise of
  the
  
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• FCA to retain large sections of EU regulation post-Brexit

  03-10-2016 14:19
  
  The Financial Conduct Authority has revealed that it plans to retain large sections of EU regulation as the country prepares for Brexit.
  
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• Cyber tops list of transport industry concerns

  03-10-2016 14:14
  
  Industry worried about third party suppliers being weak link in digital supply chain
  
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• Irish insurance bosses focus on M&A deals despite economic challenges

  03-10-2016 12:50
  
  Nearly a fifth of Irish insurers are looking to acquire or merge with a competitor, a survey of insurance CEO's has found.
  
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• Post’s Top 100 UK insurer rankings 2016

  03-10-2016 12:47
  
  The results are out. Has your company made Post’s Top 100 UK insurers 2016?
  
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• Broker Apprentice 2016: Dean Caldwell

  03-10-2016 12:41 via insuranceage.co.uk
  
  Filming for the new series starts next Monday.
  
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• Wray returns to London as head of international at TMK

  03-10-2016 11:47
  Tokio Marine Kiln (TMK) has appointed Neil Wray to the new position
  of head of international business, it announced today.
  Wray, who is currently head of Asia, will return to London at
  the start of 2017.
  He will have oversight of all international underwriting and
  operations.
  With almost 30 years of market experience, Wray has spent the
  past 16 years in Asia developing the presence of Lloyd's
  insurers.
  TMK has also appointed Kin Lau as head of regional liability and...
  
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• TransRe appoints North Asia head

  03-10-2016 11:47
  Alleghany's reinsurance subsidiary TransRe has appointed
  Zheqiang Xie to head its operations in North Asia, it announced
  yesterday.
  In this newly created position, Xie will oversee the operations
  of TransRe's Hong Kong branch office and Shanghai
  representative office.
  He will be responsible for driving the company's strategic
  planning and business development in the region.
  Xie has more than 25 years of industry experience, having held
  senior management positions with PICC, China Re and Lloyd's.
  
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• FX woes push Gable to H1 loss

  03-10-2016 11:47
  Troubled Liechtenstein-based insurer Gable has posted a loss of
  £2.3mn ($3mn) for the first half of 2016 after it suffered a
  £3.4mn negative impact from sterling movements following the
  Brexit vote.
  Excluding the currency movement, the company reported an
  underwriting profit of £1.1mn, compared to £2.6mn for the
  same period in 2015.
  The top line grew 19.3 percent year-on-year to £61.7mn,
  while net earned premiums dropped 18.4 percent to £31.4mn.
  Gable also suf
  
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• Castel announces individual underwriter specialty division

  03-10-2016 11:47
  Barbican's managing general agency platform Castel
  Underwriting Agencies has launched a specialty division designed to
  back individual underwriters.
  In a statement today, the company said Castel Specialty would
  provide the infrastructure, capacity and support for experienced
  specialist underwriters to join and begin writing business within
  weeks.
  Each underwriter will be rewarded and incentivised according to
  the profitability of individual books of business.
  Additionally, the organisation said
  
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• Gable reports £2.3m loss for start of 2016

  03-10-2016 11:34
  
  CEO William Dewsall says company will update on alternative capacity plans "very shortly".
  
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• 'Time is running out' for Enterprise customers, FSCS warns

  03-10-2016 11:26
  
  The Financial Services Compensation scheme has warned Enterprise customers that the “time to act is running out”.
  
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• FSCS warns Enterprise customers to find new cover

  03-10-2016 11:17 via insuranceage.co.uk
  
  The scheme has urged brokers with customers who have Enterprise Insurance motor policies to contact them about new cover.
  
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• Video: Aviva on how brokers can raise finance

  03-10-2016 10:48 via insuranceage.co.uk
  
  An in-depth discussion of the provider’s offering for raising finance with Integritas Financial Solutions.
  
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• Plum launches private client division

  03-10-2016 10:47
  
  New offering comes after integration with Synergy which it bought in February.
  
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• Caribbean braced for Category 4 Hurricane Matthew

  03-10-2016 10:35
  Widespread flooding and mudslides are expected in Jamaica and
  Haiti as Category 4-strength Hurricane Matthew edges towards the
  islands.
  Aon Benfield modelling agency Impact Forecasting predicted a low
  chance of significant insured losses from the event within the next
  day, but said it remained too early to rule out possible impacts on
  Florida and the US East Coast.
  East Florida has a high density of (re)insured economic value
  (personal and commercial property and marine in particular), but
  unlik
  
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• Review: Professional package

  03-10-2016 10:30
  
  QBE Professional Combined
  
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• Products round-up: Insurers keep on motoring along

  03-10-2016 10:30
  
  The protection of motorists has been on the minds of insurers recently
  
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• Brokers fear rise in premiums after “collateral lie” ruling

  03-10-2016 10:30 via insuranceage.co.uk
  
  Supreme Court ruling could “make everybody’s job more difficult” warn claims experts
  
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• #insagepeople: 03 - 09 October 2016

  03-10-2016 10:19
  
  Keep up to date with all the latest people moves.
  
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• Irish insurance bosses set out M&A expectations

  03-10-2016 09:38
  
  Irish insurance CEOs outline risks for year ahead
  
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• Ireland aims for post-Brexit insurance boom

  03-10-2016 09:27
  
  Ireland aims to benefit from any UK loss of passporting rights
  
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• Top 100 UK Insurers 2016: Top 20 insurers: Regional office map

  03-10-2016 09:26
  
  Where can you find the offices of the Top 20 UK insurers? Find out in our interactive map.
  
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• Post’s Top 100 UK Insurers: Full 100 listing

  03-10-2016 09:08
  
  Each year Post works in association with ratings agency AM Best to put together a list of the UK’s top 100 insurers.
  
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• Top UK Insurers ranking 2016: Number 20 – FM Global

  03-10-2016 08:35
  
  Rank: 20
  2014 rank: 19
  
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• Top UK Insurers ranking 2016: Number 19 – Lloyds Bank General Insurance

  03-10-2016 08:30
  
  Rank: 19
  2014 rank: 24
  
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• Top UK Insurers ranking 2016: Number 18 – Chubb

  03-10-2016 08:30
  
  Rank: 18
  2014 rank: 18
  
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• Top UK Insurers ranking 2016: Number 17 – Liberty Mutual Insurance Europe

  03-10-2016 08:30
  
  Rank: 17
  2014 rank: 17
  
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• Top UK Insurers ranking 2016: Number 16 – Aspen

  03-10-2016 08:25
  
  Rank: 16
  2014 rank: 16
  
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• Top UK Insurers ranking 2016: Number 15 – British Gas Insurance

  03-10-2016 08:25
  
  Rank: 15
  2014 rank: 15
  
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• Top UK Insurers ranking 2016: Number 14 – LV

  03-10-2016 08:25
  
  Rank: 14
  2014 rank: 14
  
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• Top UK Insurers ranking 2016: Number 13 – XL Catlin

  03-10-2016 08:20
  
  Rank: 13
  2014 rank: 13
  
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• Top UK Insurers ranking 2016: Number 12 – NFU Mutual Insurance Society

  03-10-2016 08:20
  
  Rank: 12
  2014 rank: 12
  
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• Top UK Insurers ranking 2016: Number 11 – QBE European Operations

  03-10-2016 08:20
  
  Rank: 11
  2014 rank: 10
  
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• Top UK Insurers ranking 2016: Number 9 – Great Lakes Reinsurance

  03-10-2016 08:15
  
  Rank: 9
  2014 rank: 9
  
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• Top UK Insurers ranking 2016: Number 8 – Allianz Insurance

  03-10-2016 08:15
  
  Rank: 8
  2014 rank: 8
  
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• Top UK Insurers ranking 2016: Number 10 – Ageas

  03-10-2016 08:15
  
  Rank: 10
  2014 rank: 10
  
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• Top UK Insurers ranking 2016: Number 7 – Ace

  03-10-2016 08:10
  
  Rank 7
  2014 rank: 6
  
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