All articles by Ben Dyson – Page 47
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NewsInsurers lose legal battle over Sony warehouse riot fire
Insurers have lost their battle with London mayor Boris Johnson over the payout for the Sony warehouse fire in Enfield following the August 2011 riots. This means insurers, not Johnson’s office, will have to foot the bill for loss of profit and rent related to the ...
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NewsAndy Wallin joins Cooper Gay as commercial director
Former Brightside chief executive Andy Wallin has joined broking groups Cooper Gay Swett & Crawford (CGSC) as group commercial director. Wallin left Brightside in September 2015 after only eight months as chief executive. Before joining Brightside Wallin was managing director of Arthur J Gallagher’s direct business ...
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NewsAdrian Colosso to support MGA’s UK broker push
Broking industry veteran and former Howden UK chief executive Adrian Colosso has joined specialist property managing general agent Inet3 as non-executive chairman. The MGA said Colosso, who left Howden at the end of July 2015, said Colosso will play a “pivotal role” in supporting it as ...
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NewsJohn O’Roarke gets £10m share of £39m award to LV= GI bosses
LV=’s outgoing general insurance managing director John O’Roarke has been paid a £10.1m share of a total £39.4m long-term incentive award paid to “certain key management personnel” of the company’s general insurance (GI) division. This meant O’Roarke had a total pay package from LV= of £10.7m ...
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NewsFCA strikes off two brokers for not paying fees
The FCA has cancelled the permissions of two general insurance brokers because they failed to pay outstanding fees. As a result, neither are allowed to continuing operating as brokers. Lester Evans of Barnet owed the FCA £1,694.44 in periodic fees and levies, which had been due ...
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NewsMotorists do not trust driverless cars – survey
Most motorists do not trust the technology behind driverless cars, a new survey by motoring publication What Car? has found. Some 51% of respondents to the survey, published today, said they would feel unsafe or very unsafe behind the wheel of a self-driving car, while 45% ...
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NewsAmTrust to buy Lloyd’s insurer ANV for £154m
US financial services group AmTrust has agreed to buy Lloyd’s insurer ANV for $218.7m (£154m) in cash from its current owner, Ontario Teachers’ Pension Plan. The deal is awaiting regulatory approval and is expected to be complete in either the third or fourth quarter this year. ...
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NewsUnrated Gable battles to build broker trust
Unrated Liechtenstein-based insurer Gable has had a tough time recently. Its share price is down 88% from its 87.25p peak in 2014, and profitability has suffered as it has worked to close the gap between the reserves it holds and what actuaries think it should hold. ...
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NewsUnrated Gable battles to build broker trust
Unrated Liechtenstein-based insurer Gable has had a tough time recently. Its share price is down 88% from its 87.25p peak in 2014, and profitability has suffered as it has worked to close the gap between the reserves it holds and what actuaries think it should hold. ...
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Online onlyAnalysis: Towergate at centre of Highbridge UK M&A plot
Private equity house’s acquisitions of majority stakes in Towergate, Price Forbes and now Broker Network are just the beginning
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NewsTowergate to repay insurers as it exits upfront commission deals
Market needs Towergate as a ‘challenger’ to Aon and Marsh, chief executive says
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NewsTowergate’s Paul Jewell joins UK General owner
Jewell to head Primary Group’s risk-bearing businesses
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AgendaAnalysis: Solvency II is set to reshape Gibraltar market
Some firms, including Enterprise, have missed the 1 January deadline, while Octagon makes the cut after pumping in £15m of capital
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Online onlyBriefing: FCA’s £15.5m fine could bolster unrated insurers
If three big collapses were caused by one group of people, the industry may not have the problem it thinks it does
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AgendaInterview: Innovation Broking – rise of the anti-consolidator
Co-founders Paul Dickson and Howard Pearson explain how they plan to grow without acquisition and why big brokers have ‘failed miserably’ on client service
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Online onlyBriefing: Should Towergate be worrying about debt again?
The broking group’s financial restructuring greatly reduced its debt burden, but falling profit is adding pressure
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AgendaAnalysis: Why Laspo needs a reboot
The failure of legal reforms to beat spurious injury claims had led to calls for more government action. But insurers have been blamed for adding to the problem by paying spurious claims
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AgendaAnalysis: Private equity and brokers - doomed to fail?
Recent performances throw doubt over whether the private equity model suits brokers. Are investors getting better at choosing the right businesses to back?
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AgendaAnalysis: Can Steve Hearn turn around Cooper Gay?
Heavy with debt and facing a downgrade by Moody’s, CGSC needs to find growth and cut costs. The struggling broker has several options, but which direction will the new chief executive take?
