Insurer News – Page 208
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NewsJLT Group commercial director James Twining to depart
Jardine Lloyd Thompson (JLT) Group commercial director James Twining is stepping down from his role. Twining joined the broker in January 2011 and has been a member of the board since 2012. His role will not be replaced. The broker has also appointed Bruce Carnegie-Brown as ...
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NewsR&Q returns to full-year profit in 2015
Run-off buyer Randall & Quilter (R&Q) made a profit before tax of £2.8m in 2015 compared with a loss of £1.6m in 2014. An improved performance in the second half of 2015 helped the company cancel out the £4.5m loss it made at the half-year stage. ...
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NewsHenry Engelhardt and Peter Wood rise up Rich List
Outgoing Admiral chief executive Henry Engelhardt is the richest insurance executive in the UK, according to the latest edition of the Sunday Times Rich List. According to the list, Engelhardt and his family are worth £700m, up from £590m in 2015’s list. This has pushed them ...
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NewsInsurance Times scoops award at CII Public Interest Awards 2016
Insurance Times Fraud Charter won The Best Campaign in the Public Interest – Press award at the CII Public Interest Awards last night. Receiving the award [pictured] from left to right are: Insurance Times brand editor Martin Kornacki, senior reporter Ima Jackson-obot, Covéa head ...
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NewsBrightside names ex-rugby player as head of ProSport business
Brightside has hired ex-rugby player Guy Horchover as head of ProSport, a subsidiary of the broker that places insurance for professional and amateur sports people. Prior to joining ProSport Horchover has held sales and marketing roles at Aegon (2005-2015), Marsh, Willis, GE Insurance and Prudential. In his new role Horchover ...
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NewsCovéa’s Carol Geldard promoted to personal lines director
Covéa Insurance retail distribution director Carol Geldard (pictured) has been promoted to personal lines director. Geldard will take up the newly-created role on 1 June this year. In her new job Geldard will have executive responsibility for the UK insurer’s direct and brokered personal lines offering. ...
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NewsEx-manager to get £45,942 from broker for unfair dismissal
A broker has won an unfair constructive dismissal case against her former employer Abbey Insurance Brokers. Anne McLarnin, who worked had worked for Northern Ireland broker Abbey for 12 years, claimed she felt ‘shafted’ and was forced to resign as manager of Abbey’s Newforge branch. The ...
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NewsRSA planning to halve UK staff redundancy payouts
RSA is planning to halve the amount of redundancy pay for staff who joined the company before April 2013. The insurance group is also planning to stop paying new contributions into its defined benefits pension schemes from 31 October 2016. RSA will consult staff on the ...
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NewsMarsh-owned Jelf names new direct and network heads
Marsh-owned Jelf has appointed Duncan Carter to the role of Direct and Partnership (D&P) chief executive. The newly created division comprises Jelf’s Purple Partnership and Marsh’s three networks: Marsh ProBroker, Marsh Labyrinth, and Marsh Connections. It also includes Marsh and Jelf’s affinities businesses and online broker ...
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NewsTony Allen shifts focus to A&A’s Gibraltar insurer in reshuffle
A&A Group chief executive Tony Allen is shifting his focus to the group’s Gibraltar-based insurer, Mulsanne Insurance Company, as part of a reshuffle. The company has also named Paul Twilley as Mulsanne’s claims director. Key points A&A has bought failed Gibraltar insurer Service’s UK ...
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NewsEnterprise to expand in UK following Italy and Ireland exits
Enterprise Insurance Company (EIC) is planning to expanding its niche commercial vehicle products to UK brokers on the Open GI and SSP platforms as it has exited a number of partnership in Italy and Ireland. Underwriting director Martin Kennedy said the exits had provided the insurer ...
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NewsPensioner behind Munich Re agency bomb hoax jailed
A pensioner who carried out a bomb hoax against a Munich-Re owned underwriting agency has been jailed for 16 months. Liverpool Crown Court heard David Norris, 74, had long harboured a grudge against Groves, John & Westrup (GJW), which had rejected his £168,000 claim after his ...
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NewsAviva relaunches high net worth unit as Aviva Private Clients
Aviva has relaunched its high net worth business under the brand Aviva Private Clients. The division will have a dedicated managing director, Adam Beckett, and a dedicated team, of underwriters. The insurer will upgrade its suite of high net worth products, which are branded Distinct, and ...
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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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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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NewsDecline in reserve releases to hit motor insurer profits
A slow down in premiums in the first quarter of 2016 will hit motor insurer profits as prior year reserve releases from the highly profitable 2011-2013 period come to an end, analysts from investment bank Macquarie have said. Yesterday, the Confused.com price index showed that prices ...
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NewsAXA expands African operations in joint venture with Chaucer
AXA is expanding its reach into Africa with the launch of a joint venture with Lloyd’s insurer Chaucer. The new venture, AXA Africa Specialty Risks, will be dedicated to covering specialty insurance lines in Africa, covering business such as political risks, energy and infrastructures. The partnership ...
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NewsSaga motor unit reports 74.4% COR and 10.3% profit growth
Over 50s insurance provider Saga’s motor underwriting business made an operating profit of £82.8m in the year ended 31 January 31 2016, up 10.3% on the £75.1m it made the previous financial year. The division’s combined operating ratio was 74.4% an improvement of 3.5 percentage points ...
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NewsMarsh Networks boss Martyn Denney departs
Marsh UK head of networks Martyn Denney has left the company. Denney joined Marsh in May 2010 from Towergate where he was managing director of Broker Network Insurance Services. At Marsh he was responsible for the broker’s three main networks; Marsh Pro Broker, Marsh Labyrinth and ...
