Insurance news

• QBE NA hires CNA's Beckman as CUO

  10-04-2017 21:07
  QBE North America has hired former CNA executive John Beckman as
  chief underwriting officer (CUO).
  Beckman will also join the insurer's North America executive
  management board and chair its underwriting committee for the
  region.
  Based in New York, the executive will report direct to QBE North
  America CEO Russell Johnston.
  Beckman will be responsible for enhancing existing underwriting
  practices and processes, including developing products, technical
  leadership and risk appetites, the unit of Sy
  
  Read more

• Lloyd's takes steps to slim reporting burden

  10-04-2017 21:07
  Lloyd's has cut back on the requirements imposed on managing
  agents as part of the much-disliked July business planning round,
  as recently appointed performance management director Jon Hancock
  begins to make his mark.
  In a market bulletin released today, Lloyd's said syndicates
  would no longer need to give it early details of their solvency
  capital requirements in the summer, while the amount of data
  captured as part of the so-called high level plan (HLP) will also
  be heavily cut back....
  
  Read more

• Everest Insurance launches life sciences practice

  10-04-2017 21:07
  Andy Faber has joined Everest Insurance as leader of the new life
  sciences practice, the carrier has announced.
  Faber will be responsible for establishing a dedicated life
  sciences team in the US marketplace, working from Boston, the
  Bermudian said last week. He will report to Connie Germano, head of
  Everest Specialty Casualty Group.
  Germano commented: "Andy is an accomplished leader and a
  technically sound underwriter. Andy's knowledge of the life
  sciences space, his industry and client relatio
  
  Read more

• Chubb names Robic COO for wealthy client unit in US

  10-04-2017 21:07
  Chubb has promoted Ana Robic to chief operating officer for North
  America Personal Risk Services, the insurer said today.
  Robic fills a gap left by the promotion of Scott Gunter to run
  Chubb's North American Commercial Insurance unit.
  She moves from Chubb Canada, where she was executive vice
  president for the global carrier's Canadian commercial
  insurance business.
  Robic will be based in Chubb's New Jersey headquarters and
  will report to Fran O'Brien, senior vice president and division
  president
  
  Read more

• Advertisement

• AmTrust recruits chief accountant amid reporting furore

  10-04-2017 21:07
  AmTrust has hired a chief accounting officer as the specialty
  lines carrier works to repair the damage caused by accounting
  errors that led to restatements of results for the past three
  years.
  Robert Schwarz is taking on the role as a senior vice president,
  the embattled New York-based insurer said today. He joined the
  company from Assurant.
  AmTrust revealed on 16 March that its financials between 2014
  and the first nine months of 2016 "should no longer be relied
  upon&...
  
  Read more

• Zurich reverses downstream energy exit

  10-04-2017 16:36
  Zurich is set to resume underwriting a broad book of downstream
  energy business less than a year after it dramatically scaled back
  its involvement in the class and put a substantial portion of its
  book in run-off.
  The pivot follows the arrival of downstream energy stalwart Rob
  Kuchinski earlier this year as head of a new global property
  segment that includes Zurich's energy portfolio.
  As previously
  revealed by The Insurance Insider,
  Zurich retrenched heavily in the downstream energy sector as...
  
  Read more

• Bewlay takes casualty CUO role at XL Catlin

  10-04-2017 16:36
  Nancy Bewlay has been named XL Catlin's new global chief
  underwriting officer for casualty, effective 17 April.
  Prior to her appointment, Bewlay was working as an insurance
  consultant, but she is best known for her role at Swiss Re, where
  she was head of underwriting for casualty in the US and Canada. She
  held the post for almost four years between 2013 and 2017.
  Bewlay has also served as president and CEO of CV Starr and as a
  branch manager...
  
  Read more

• AmTrust Syndicate 2526 placed into run-off

  10-04-2017 16:36
  AmTrust has put its troubled Syndicate 2526 into run-off after it
  was unable to contend with adverse reserve development on legacy
  business and return the syndicate to profitability.
  The Nadaq-listed insurer decided to cease underwriting on the
  former AG Doré syndicate after it became apparent that any
  business plan produced for 2017 "would be loss-making",
  the firm said in the syndicate's annual report.
  AmTrust acquired the service company that employed the staff of
  Syndicate 2526 in 201
  
  Read more

• Advertisement

• Recovered Zurich now has firepower for acquisitions - analyst

  10-04-2017 15:44
  
  Premium Content: Acquisitions back on the table for Zurich but large RSA-type deal unlikely 
  
  Read more

• Crash for crash gang sentenced to over 33 years following IFB investigation

  10-04-2017 13:08
  
  A crash for cash gang have been sentence to over 33 years for carrying out a fraud that had the potential cost of £500,000.
  
  Read more

• Insurance Cares: Clarity or confusion

  10-04-2017 12:44
  
  Sophie Timms, of Zurich, considers how T&Cs can confuse the vulnerable.
  
  Read more

• London ghost broker sentenced for LV= fraud

  10-04-2017 12:32
  
  Suspended prison sentence and 120 hours’ unpaid work for ghost broker
  
  Read more

• Opinion: Nexus debt raise

  10-04-2017 12:31
  That Nexushas chosen to raise £20mn+ of debt when a fresh wave of
  London market M&A is starting may puzzle some in the managing
  general agency (MGA) space.
  Following Vitruvian's CFC buy-in at a hefty 15x forward
  Ebitda, MGA M&A is clearly on the agenda, and banking sources
  had previously identified Nexus as the likeliest next candidate for
  a deal.
  The firm's decision to raise debt seems to end speculation
  that it will look to do something with its...
  
  Read more

• CIRC chairman placed under investigation

  10-04-2017 12:31
  The chairman of the Chinese Insurance Regulatory Commission
  (CIRC), Xiang Junbo, has been placed under investigation by the
  ruling Communist party corruption watchdog.
  According to a statement from the Central
  Discipline Inspection Commission , Xiang is suspected of
  "severe disciplinary violations", although there were no
  further specific details.
  The Financial Times said rumours had been circulating that
  Xiang was under investigation as he had not been seen in public for
  several weeks.
  It added
  
  Read more

• Aon Benfield Asia Pac CEO retires

  10-04-2017 12:31
  Malcolm Steingold is set to step down as Aon Benfield's head
  of Asia Pacific (Apac) and retire after nine years in the role.
  It is understood that a decision on the future leadership of the
  region is yet to be taken, but the reinsurance broker may look to
  restructure rather than promote a straight replacement from the
  four sub-regional leaders that currently report to Steingold.
  The outgoing executive, a 24-year Aon veteran, is set to leave
  in June.
  News of...
  
  Read more

• #Insagepeople: 10 - 16 April 2017

  10-04-2017 11:28
  
  Keep up to date with all the latest people moves.
  
  Read more

• MGAs Snapshot 2017: Growing gains

  10-04-2017 11:06
  
  While there remain some challenges in the market, MGAs are seeing growth on every measure
  
  Read more

• Editor's letter - April 2017

  10-04-2017 11:04
  
  Championing change: Insurance Age’s new look with more business-useful information
  
  Read more

• Ghost broker sentenced for £59,200 scam

  10-04-2017 10:12
  
  The ghost broker received a sentence of 16 weeks in prison suspended for one year.
  
  Read more

• Blog: Next Gen Claims - a perfect storm is looming

  10-04-2017 08:00
  
  Why insurers that recognise and understand the implications of the digital and data revolution will lead the way in building new claims capabilities, stealing a march on competitors.
  
  Read more

• Blog: Injured claimants are not lobby fodder

  10-04-2017 08:00
  
  I spent 15 years working for a number of insurance companies before ‘crossing the floor’ to be the managing director of Minster Law, a claimant firm. Whether moving from insurance to the law is a step up the public approval rankings or a step down is a moot point. 
  
  Read more

Follow @Insurance_UKnws on Twitter!