All articles by Ben Dyson – Page 42
-
NewsLonmar changes board as directors exit following GRP deal
Lloyd’s broker Lonmar is reshuffling its board after three directors left following the completion of the management buy-out backed by Peter Cullum’s consolidator Global Risk Partners (GRP). Lonmar chairman Howard Steeples, director Christopher Birrell and non-executive director George Boden are now no longer Lonmar directors following ...
-
NewsRSA names new head of direct brand More Than
RSA has appointed Rob Flynn as the new managing director of its More Than direct brand. He takes over from Phil Wilson-Brown, who is leaving to return to his native Australia to take a job at Australian insurance group IAG. Flynn, who has worked for RSA ...
-
NewsPIB launches telematics-based fleet product
PIB has launched a telematics-based insurance product for the fleet market. The broking group said the product uses telematics data and risk management to reduce costs for fleet operators. The product uses driver behaviour and attitude data to influence the insurance premium paid as part of ...
-
NewsNew head for Zurich Municipal as Anne Torry shifts to life unit
Zurich has named Zurich Municipal managing director Anne Torry (pictured) as its new permanent UK life chief executive. Torry’s deputy and director of public sector, Andrew Jepp, will replace her as head of Zurich Municipal. Jepp has been at Zurich for 22 years, Torry will take ...
-
NewsPRA approves Direct Line Group’s Solvency II model
The PRA has approved Direct Line Group’s Solvency II partial internal model. It means the insurer will be able to use the model to calculate its capital requirements under Solvency II from 1 July this year. The company plans to publish more details about its Solvency ...
-
NewsABI names new chairman to replace Paul Evans
Aviva UK life chief executive Andy Briggs will replace AXA’s Paul Evans as ABI chairman in October. The association has also named Direct Line Group chief executive Paul Geddes as deputy chairman, replacing Briggs. Evans, currently group chief executive of AXA UK and Ireland, has chaired ...
-
NewsGallagher launches model-backed terrorism cover
Arthur J Gallagher has launched a risk model-backed terrorism insurance product supported by capacity from London market underwriters. The product, which combines insurance and risk management, is designed for businesses with a premium spend of more than £1,000. The offering uses Gallagher’s Farseer modelling tool, which ...
-
AgendaBroker regulation fees rise – but it’s not all bad news
The regulatory bill for brokers is set to rise for 2016/17 – but it’s below the average for the past five years. The big worry is that FCA fees have become the largest part of the total fee package facing the hypothetical small broker
-
NewsGRP buys professional indemnity broker Cavendish Munro
Peter Cullum-backed consolidator Global Risk Partners (GRP) has bought London-based specialist professional indemnity retail broker Cavendish Munro Professional Risks. The acquisition is GRP’s fourth transaction this year following the Lonmar, McGrady and Synergy deals. The new deal will take GRP’s annual gross written premium to over ...
-
NewsRSA hires Swiss Re underwriters to risk management team
RSA has hired Kevin Demmon as specialist underwriting leader and Rosie Dalton as property underwriter in its UK risk management team. Both join the insurer from Swiss Re. Demmon was a senior underwriter there, and Dalton was a property underwriter at the reinsurer’s insurance division, Swiss ...
-
NewsGallagher bolsters aviation team with Willis hires
Arthur J Gallagher has hired long-serving Willis Towers Watson executives Mark Champion and Paul Rogers as divisional directors of its aviation unit. Champion has joined Gallagher this week after serving as Regional Director for Continental Europe for Willis Towers Watson, where he was responsible for a ...
-
NewsIngenie a bright spot in tough year for former Quindell
Telematics broker Ingenie was the only division of recovering technology firm Watchstone to report an underlying profit for 2015. Ingenie reported underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of £484,000 in 2015, a turnaround from the £820,000 loss it made the previous year. ...
-
NewsTysers chairman questions client value of big broker facilities
Lloyd’s broker Tysers chairman Christopher Spratt has called into question to client value offered by big brokers’ placement facilities. The facilities, which include the Aon Client Treaty and Willis Global 360, grant participating underwriters access to certain sections of brokers’ business on pre-agreed terms. The facilities ...
-
NewsBrexit poses ‘grave threat’ to London insurance market
Britain leaving the European Union poses “a grave threat” to jobs and business in the London insurance market, according to Lloyd’s, the International Underwriting Association of London (IUA) and insurer Fidelis. UK voters will decide whether or not to leave the EU in a referendum on ...
-
NewsEx-AIG chief Hank Greenberg faces New York fraud trial
Former AIG chief executive Maurice ‘Hank’ Greenberg faces a civil fraud trial in New York relating to his tenure at the insurance group. The New York Court of Appeals ruled yesterday that Greenberg, currently chief executive of insurance group CV Starr, must stand trial over 11-year-old ...
-
NewsBarclays Corporate Banking names new UK insurance heads
Barclays Corporate Banking has named James Morris as head and Dan Broome as deputy head of its UK insurance team. The team manages banking relationships with insurers and brokers and provides financing, banking and financial risk management services. The new roles were created following a team ...
-
NewsSwiss Re insurance arm launches UK-specific cyber cover
Swiss Re’s insurance unit Swiss Re Corporate Solutions has launched a primary cyber risk protection product specifically for the UK market. The new product, called CyberSolutions UK, combines insurance with risk mitigation and remediation services and is aimed at mid-sized and large companies. Swiss Re Corporate ...
-
NewsBluefin extends loss recovery insurance deal with Lorega
Broking group Bluefin has extended a white-label loss recovery insurance deal with underwriting agency and loss adjuster Lorega for a further three years. Under the deal, Lorega will continue to provide loss recovery insurance cover to Bluefin clients under the Bluefin Assist brand. The cover helps ...
-
NewsCo-op: UK drivers find motor insurance ‘too confusing’
Half of the UK’s drivers find motor insurance too confusing, and 86% believe it needs to be easier to understand, according to a survey commissioned by Co-op Insurance. The survey of 2,000 UK drivers, conducted by Atomik Research, found that 51% of drivers do not understand ...
-
NewsGable abandons 'inappropriate' £10m sister MGA funding plan
Gable has abandoned plans for sister underwriting agency Hogarth to contribute £10m to the unrated insurer’s regulatory capital after chief executive William Dewsall decided the transaction would be “inappropriate”. According to a stock exchange announcement, Dewsall now intends to use a separate private vehicle, wholly owned ...
