Latest News – Page 2018
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Snowball leaves Aviva board
Aviva confirms that Patrick Snowball has resigned as a director of Aviva as of 8 May...
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Carvill adds AIR to hurricane index
Carvill, has reached an agreement with AIR Worldwide Corporation, to provide modelled support for the Carvill Hurricane Index...
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Munich Re buys Bell & Clements Group
Munich Reinsurance has bought the Bell & Clements Group for an undisclosed amount...
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FSA must hit hard to ensure TCF standards
Which? magazine has urged the Financial Services Authority to come down hard on those companies failing to implement adequate Treating Customers Fairly provisions, following the release of the FSA's report into the progress made by financial companies in implementing processes for TCF. Dominic Lindley, personal finance campaigner, Which?, said: “The ...
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Fraud costing insurers £1.6bn per year, says ABI
Insurance companies are being hit by up to £4m per day as a result of fraudulent claims, according to the latest research conducted by the Association of British Insurers. The ABI study reveals that fraud is costing the insurance industry a massive £1.6bn per year, resulting in an increase of ...
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Emerging risks impeding business development says Lloyd's
Increased concerns at board level regarding terrorism and political violence risk is causing businesses to avoid investing in politically sensitive areas or locating offices in large cities, according to Lloyd's.In a new report Lloyd's reveals that over a third of companies avoid investing in overseas markets for fear of political ...
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Travelers buys Lloyd's marine insurer
Travelers has purchased Galatea Underwriting Agencies, a specialist Lloyd's marine underwriting agency. Galatea is in its eighth year of operation, and specialises in protecting companies and individuals who service the shipping, transport and both offshore gas and oil industries. Travelers said Galatea "complements and enhances the current Lloyd's marine activities ...
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Cooper Gay says Sonae financing will fuel acquisitions
Cooper Gay is expected to expand its presence in the UK market, with further acquisitions likely, following investment from Sonae SGPS. SC Insurance and Risk Services SGPS, SA, a subsidiary of Portuguese investor Sonae SGPS, has agreed to acquire 14% of Cooper Gay, with an option to increase its ...
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Biba welcomes TCF report from FSA
Biba has welcomed the FSA's report published today which shows that many firms have made good progress with their treating customers fairly programmes. The FSA had set firms the target of having at least reached the implementation stage of their TCF work in a substantial part of their business by ...
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New UK and Ireland manager joins Chubb from AIG
Chubb names Woolard as regional manager of Chubb Specialty
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Risk managers respond to latest climate change report
Climate change will grow in importance for risk managers as the fight against global warming intensifies following the latest report of the Intergovernmental Panel on Climate Change (IPCC), according to Marie-Gemma Dequae, president of the Federation of European Risk Management Associations (FERMA). “As companies implement technologies and practices to respond ...
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Willis named 'Global Superstar'
Willis has been named in the Forbes Magazine list of Global Superstars. Starting with the Forbes Global 2,000 – the largest companies in the world based on a composite ranking of sales, profits, assets and market value – the magazine compared each company to its industry peers along several ...
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SSP acquires Sirius
SSP and Sirius have agreed to an acquisition deal valuing Sirius at approximately £43.4m.In the UK, the business will have a presence in the areas of general insurance relating to regional brokers, call centres, small intermediaries, major brokers, underwriting agencies and insurance companies, as well as establish a presence in ...
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FSA sets further deadline for TCF
The FSA has reported an increase in commitment by senior management to the principle of Treating Customers Fairly but warned firms who have failed to engage that they face tough action...
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Burgess: PPI market investigation too slow
The Competition Commission is standing by and letting millions of cash-strapped consumers waste money on inflated Payment Protection Insurance premiums...
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Assurant launches in Irish insurance market
Assurant Solutions has entered the Irish insurance market...
