Insurance news

• Insurance Times Awards 2017 – Finalists announced

  04-09-2017 15:49
  The finalists for the Insurance Times Awards 2017 have been announced
  
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• Sompo Canopius CFO to leave

  04-09-2017 15:31
  Sompo Canopius CFO Paul Cooper has resigned as the Lloyd's
  carrier prepares to join the investment portfolio of Centerbridge
  Partners, The Insurance Insider can
  reveal.
  News of his resignation comes just days after Japanese parent
  Sompo agreed to sell the Lloyd's carrier for $952mn to amanagement team backed by the US private equity firm.Cooper, who has held the CFO role at Sompo Canopius since April
  2013, has agreed to join an unknown public company outside the
  insurance sector....
  
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• Lloyd's and LMA team up with MIS for cat data service

  04-09-2017 15:31
  Lloyd's and the Lloyd's Market Association (LMA) have
  signed a one-year deal with McKenzie Intelligence Service (MIS) to
  provide a data service designed to improve claims handling from
  catastrophe events.
  Lloyd's and the LMA held discussions with a number of
  companies that provide satellite imagery and other data to assist
  claims handlers in the days following an event when it isn't
  possible to access a site.
  The Lloyd's Market Strategic Claims group, made up of Phil
  Godwin, head of claims,...
  
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• R&Q to continue trend of disposals and acquisitions in H2

  04-09-2017 13:17
  R&Q will continue to dispose of non-key assets in the second half of the year following a 345% increase in pre-tax profit in H1.
  
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• Blog: Harvey, a CAT adjuster's testimony

  04-09-2017 13:17
  Crawford and Company has deployed more than 200 adjusters in Southern Texas to assess the damage caused by Hurricane Harvey.  One of them, James Warren, whose own home has been damaged, describes the streets as eerie as there is no power, no road signs, no residents – since all have evacuated and a curfew is imposed. He shares this testimony with us.
  
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• Harvey unlikely to drive ratings downgrades

  04-09-2017 13:12
  Hurricane Harvey is unlikely to trigger ratings downgrades for property and casualty insurers and reinsurers, said Fitch Ratings.
  
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• Video: A broking minute with Darren Thomas

  04-09-2017 13:04
  Pedalcover managing director Darren Thomas takes on Insurance Age's broking minute challenge.
  
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• Calling London Brokers - Broker Apprentice open for interviews

  04-09-2017 12:49
  Interviews will take place in London on 22 September and the series will close to applications on 11 September – so apply today to be in with a chance of becoming 2017’s Broker Apprentice.
  
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• Heritage takes on Sawgrass Florida book

  04-09-2017 12:44
  Heritage Insurance has agreed a deal to take on Sawgrass
  Mutual's book of Florida homeowners' business,
  The Insurance Insider can reveal.
  The move comes after Sawgrass was downgraded by Demotech last
  month from a rating of A to a rating of L - a level below that
  necessary to meet the requirements of lenders including Fannie Mae,
  Freddie Mac and other organisations.
  After the downgrade, Sawgrass was placed into
  administrative supervision by the Florida Office of Insurance
  Regulation (FLOIR).In...
  
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• Compre strikes deal for Gibbon pools

  04-09-2017 12:44
  Compre has acquired the legacy portfolio of Axa's Swiss
  operations, formerly Winterthur Swiss Insurance Company, for an
  undisclosed sum.
  The acquired portfolio comprises insurance and reinsurance
  business underwritten by RW Gibbon Underwriting Agencies Ltd and RW
  Gibbon & Son Ltd, known as the Gibbon pools, between
  1962-1964.
  The acquisition is Compre's 26th portfolio deal. To date the
  firm has acquired 10 companies in run-off.
  Nick Steer, CEO of Compre, said: "This follows a similar
  deal wi
  
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• Gauntlet Group awarded chartered status

  04-09-2017 12:05
  The Leeds commercial broker has been given Chartered Insurance Brokers status by the CII.
  
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• Helvetia posts 8% boost in profits for H1

  04-09-2017 11:59
  Swiss insurance group Helvetia increased its profits by 8% to SFr 258m (£208m) in the first half of 2017.
  
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• Ransomware attacks account for 25% of all hacks across UK businesses

  04-09-2017 11:22
  Ransomware hacks now account for 25% of cyber attacks in the UK, according to research.
  
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• Jackson Lee launches gadget cover

  04-09-2017 10:49
  Gadgets have been added to the portfolio of products on its leisure insurance scheme.
  
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• #insagepeople 4 - 10 September 2017

  04-09-2017 10:22
  Keep up to date with all the latest people moves.
  
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• R&Q shares rise after H1 profit surge

  04-09-2017 10:08
  Randall & Quilter reported that first-half profits rose
  almost five-fold following legacy acquisitions as it delivered an
  upbeat forecast for the rest of the year.
  Pretax profits rose to £5.4mn ($7mn) from £1.2mn, the
  London-listed company said.
  R&Q's earnings per share jumped to 7.9 pence from 1.5
  pence, while the company's annual return on return on equity
  was 15.4 percent, up from 3.6 percent last year.
  R&Q attributed the rise in profits to the strong performance
  of it
  
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• Opinion: Not the big one

  04-09-2017 10:08
  I was speaking to an underwriter at Lloyd's on Friday. An old
  hand. Veteran of markets soft and hard, who probably wrote his
  first risk before I was born.
  He has seen it and done it all before when it comes to US cat
  losses.
  And his assessment of Harvey was utterly unclouded by sentiment
  and drained of all spin.
  "We need a Cat 4 storm to tear through Florida," he
  said. "We need something to happen."
  Because to the...
  
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• Irma threatens to make US landfall: JLT Re

  04-09-2017 10:08
  Hurricane Irma has a 55 to 60 percent probability of making US
  landfall and becoming the second major storm to hit the US within
  little more than two weeks, according analysis of modelling data by
  JLT Re.
  An aggregate of 51 European hurricane models shows that Irma is
  more likely than not to hit the US.
  The US National Hurricane Center has put a hurricane watch in
  place for various Caribbean islands, meaning hurricane conditions
  are anticipated within 48 hours....
  
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• H1 results: R&Q profit soars in ‘very strong’ half

  04-09-2017 10:03
  R&Q profit growth driven by run-off and underwriting management units
  
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• Dive In Festival: Insurers taking the plunge

  04-09-2017 07:00
  Every year, insurers pledge their commitments to the drive towards diversity in the annual Dive In Festival. But is this empty talk?
  
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• Analysis: Back to school 2

  04-09-2017 07:00
  In the second part of our Back To School Q&A, insurance big names recollect their most hated topics at school and what kind of work experience they did (find out which CEO swept roads as a summer job). They also share their ideas on how to improve the industry’s image among the young generation and attract new talent.
  
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• Chubb bolsters cyber underwriting team in Asia-Pacific

  04-09-2017 04:29
  Global P&C insurer Chubb has made one promotion and relocated another staff member to bolster its Asia-Pacific cyber team.
  
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