Insurance news

• Hedge fund reinsurance model remains unproven: S&P

  07-08-2017 22:32
  The hedge fund reinsurance model's long-term viability
  remains an unanswered issue as persistent underwriting losses have
  restrained the segment's performance, which has trailed
  traditional Bermudian reinsurers, according to ratings agency
  Standard & Poor's.
  As a group, hedge fund reinsurers (HFRs) produced a return on
  average shareholders' equity of 5.7 percent last year, when it
  swung to a gain from a loss of 3.5 percent in 2015 and a 9.5
  percent gain in 2014, S&P said in a report rele
  
  Read more

• Shares in MetLife spin-off fall on trading debut

  07-08-2017 18:58
  Brighthouse Financial launches on Nasdaq after extensive regulatory scrutiny
  
  Read more

• Prudential confronts question of a break-up

  07-08-2017 18:46
  Life insurer more open to splitting off UK business to focus on Asia, say investors
  
  Read more

• Prudential: the triple lock

  07-08-2017 17:42
  Selling the UK operation could be counter-productive
  
  Read more

• Advertisement

• Commercial insurers' claims handling failing SMEs

  07-08-2017 17:30
  Commercial insurers are failing to give their SME customers a satisfactory claims experience, with 70% saying that their interim and financial claims amounts had not been agreed promptly enough.
  
  Read more

• Samengo-Turner to join Willis Towers Watson

  07-08-2017 17:00
  Facultative reinsurance broker Julian Samengo-Turner is to
  return to the market after a four-year hiatus, sister publication
  Inside FAChas revealed.
  Samengo-Turner will join Willis Towers Watson, a spokesperson
  for the broking giant confirmed, without giving details of the
  timing of his arrival or his job description.
  It is thought that Samengo-Turner could be taking over Alistair
  Lester's post as global facultative reinsurance head. Lester
  left the broker in December last year to become head of
  
  Read more

• Charles Taylor set to win delegated authority bid

  07-08-2017 17:00
  Charles Taylor InsureTech has emerged as the preferred partner
  in a project that will radically reshape the way coverholders pass
  data to London market carriers, The Insurance
  Insider understands.
  Charles Taylor has fended off rival bids from IBM, Accenture,
  Verisk and Xchanging to take on the delegated authority project, a
  crucial part of the London market modernisation programme.
  The tender relates to the data submission, access and
  transformation component of the delegated authority programme
  
  Read more

• Ageas UK piloting pay as you go home cover

  07-08-2017 16:20
  New pay as you go home cover follows last year’s Back Me Up launch
  
  Read more

• Advertisement

• Steve Lathrope replaces Laurence Walker as SSP CEO

  07-08-2017 16:12
  Walker takes on the executive chairman role.
  
  Read more

• Video: A broking minute with Duncan Sutcliffe

  07-08-2017 15:13
  The director of Sutcliffe & Co takes on our broking minute challenge.
  
  Read more

• Software house SSP appoints new chief executive

  07-08-2017 14:25
  Steve Lathrope replaces Laurence Walker at software house SSP
  
  Read more

• Towergate chief Ross hints at Ardonagh Group IPO - report

  07-08-2017 13:44
  David Ross looks at growth options for the group.
  
  Read more

• IPT petition shelved on worries government won't last

  07-08-2017 13:29
  IPT petition plans shelved because insurance body not confident the government will last long enough
  
  Read more

• IPT petition scrapped on worries government won't last

  07-08-2017 13:29
  IPT petition plans scrapped because insurance body not confident the government will last long enough
  
  Read more

• Swinton dismisses sale talk as speculative

  07-08-2017 13:23
  Report says Swinton owner is gearing up to sell the broker
  
  Read more

• IPT petition shelved due to concerns over ‘longevity’ of government

  07-08-2017 13:06
  An industry-led petition against Insurance Premium Tax increases has been postponed due to concerns over the “longevity” of the government.
  
  Read more

• Cutts to lead new Blenheim reinsurance unit

  07-08-2017 12:47
  Recently formed Lloyd's syndicate Blenheim has launched a
  specialty reinsurance division under the leadership of former
  Talbot head of treaty John Cutts.
  The underwriter will join Syndicate 5886 in 2018 following his
  departure from Talbot last month after 17 years,as revealed by The Insurance
  Insider.
  Cutts previously wrote primarily aviation treaty business, and
  was believed to also have involvement in the carrier's marine
  book.
  Blenheim managing director John Lynch commented: "Through
  the addi
  
  Read more

• Allied World CFO steps aside

  07-08-2017 12:47
  Allied World CFO Thomas Bradley has left the carrier following
  its $4.9bn acquisition by Canadian conglomerate Fairfax
  Financial.
  Bradley, who had been in the role since September 2012, stepped
  down at the end of July, according to a Securities and Exchange
  Commission filing on 4 August.
  He joined Allied World from law firm Dorsey & Whitney, where
  he was CFO.
  Bradley spent much of his career at Zurich, where he became
  North America CFO in 2004, according to details on...
  
  Read more

• Ecclesiastical denies finding of church abuse inquiry

  07-08-2017 12:26
  Ecclesiastical has hit out against accusations it advised the Church of England to sever ties with abuse victims.
  
  Read more

• Allianz LV tie up is bad news for rivals – analyst

  07-08-2017 12:11
  Allianz LV tie up is ‘highly ominous’ for other insurers and could intensify competition, says Eamonn Flanagan
  
  Read more

• Alps unveils motorcycle personal accident product

  07-08-2017 11:41
  Two types of cover with separate limits of indemnity are available to policyholders.
  
  Read more

• #Insagepeople: 7 - 13 August 2017

  07-08-2017 11:40
  Keep up to date with all the latest people moves.
  
  Read more

• Opinion: Return of The Entrepreneur

  07-08-2017 10:51
  Tomorrow The Insurance Insider will
  reveal that an entrepreneur is returning to the industry.
  Can you bear the suspense?
  One of the accepted tenets of business is that there is a
  fundamental difference between The Entrepreneur and The Corporate
  CEO.
  But I'm not so sure.
  Entrepreneurs are typically more memorable characters - more
  flamboyant, more maverick.
  The Corporate CEO is likely a little blander and more
  technocratic. A believer in process and rules.
  But that is true only in the...
  
  Read more

• Atrium Syndicate 609 ups forecasts for 2015 YoA

  07-08-2017 10:51
  Argenta-managed Lloyd's carrier Atrium Syndicate 609 has
  increased its syndicate forecasts for the 2015 year-of-account by
  3.5 percentage points at the midpoint.
  The change leaves the predicted forecasts as of 30 June at a
  profit of between 5 percent and 10 percent on capacity of
  £420.1mn ($548.0), translating to a positive result of
  approximately £21mn to £42mn for the 2015 year of
  account.
  The predicted result for the 2016 year-of-account remained
  unchanged at between 0 perce
  
  Read more

• Seventeen Group's pre-tax profit falls 30% for 2016

  07-08-2017 10:46
  Turnover increased by 24% from £10.1m to £12.6m.
  
  Read more

• New Towergate group considering float – report

  07-08-2017 10:33
  New Towergate group chief executive David Ross says IPO on the cards for next year
  
  Read more

• NMU launches computer cyber insurance for SMEs

  07-08-2017 10:09
  The new policy replaces NUM's existing computer offering.
  
  Read more

• Ardonagh Group to mull 2018 IPO: Ross

  07-08-2017 08:53
  Chief executive of newly rebranded Towergate owner The Ardonagh
  Group David Ross has said the combined entity could consider an
  initial public offering (IPO) as early as next year, according to a
  report.
  Speaking to The Daily Telegraph, Ross said the
  independent broking and underwriting operation was likely to
  initially remain private, but could seek to float on public markets
  once it becomes a "monster".
  He said: "Decisions will be based on being in control of
  our own destiny in...
  
  Read more

• Chubb's Sara Mitchell on how insurers and brokers must service the mid-market

  07-08-2017 07:00
  The middle market is the engine room of the UK economy and insurers should work closely with brokers to support the sector, says Sara Mitchell, head of corporate division for UK & Ireland at Chubb.
  
  Read more

• C-suite: Chubb's Sara Mitchell on how insurers and brokers must service the mid-market

  07-08-2017 07:00
  The middle market is the engine room of the UK economy and insurers should work closely with brokers to support the sector, says Sara Mitchell, head of corporate division for UK & Ireland at Chubb.
  
  Read more

• Berkshire Hathaway's underwriting losses continued in Q2

  07-08-2017 04:10
  (Re)insurance giant Berkshire Hathaway swung from a $337m (£258m) underwriting profit in the second quarter of 2016 to a $22m loss in Q2 2017.
  
  Read more

• Uncertainty hampering mergers and acquistions, says Clyde and Co

  07-08-2017 03:24
  Corporate uncertainty around Brexit has been hampering merger and acquisition activity in global insurance this year according to international legal firm Clyde and Co.
  
  Read more

• Uncertainty hampering M&A activity, says Clyde and Co

  07-08-2017 03:24
  Corporate uncertainty around Brexit and tighter Chinese monetary controls has been hampering M&A activity in global insurance this year according to international legal firm Clyde and Co.
  
  Read more

Follow @Insurance_UKnws on Twitter!