Latest News – Page 672
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Online onlyBrexit risks thousands of London insurance jobs
Up to 80,000 jobs in London’s financial services industry could be relocated because of Brexit, according to Boston Consulting Group. And a signficant chunk of those jobs being moved will be insurance, the consultancy says. The doomsday prediction comes after BCG surveyed the financial servies sector ...
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NewsAviva unveils UK GI profit growth targets for 2020
Aviva has outlined the underwriting profit growth targets it wants to achieve in its UK general insurance business between now and 2020. The insurer told analysts at its capital markets day on Wednesday that it expected its personal specialty business to produce the most profit growth ...
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NewsQ&A: Wunelli looks to the future of telematics
Wunelli, A LexisNexis Risk Solutions company, launched in 2008 following a test period as a telematics insurance broker under the brand Coverbox. The company has since invested in delivering telematics innovations and solutions to the insurance sector. Insurance Times spoke to Wunelli founding director Paul Stacy ...
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NewsBiba joins sharing economy standards scheme
Biba has lent its support to a scheme to set standards for the new sharing economy. The brokers’ association has joined the expert advisory panel for the Sharing Economy UK’s (SEUK) TrustSeal programme. SEUK will award its stamp of approval to sharing economy schemes like AirBnB ...
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NewsBeach Point raises stake in ex-Quindell Watchstone
Beach Point Capital Management has increased its stake in Watchstone, formerly the Quindell group to more than 11%. The US hedge fund, which says it focuses on “complex and misunderstood opportunities” has more than doubled its holding in Watchstone since last September when new chief executive ...
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NewsHastings, Direct Line tipped as best motor performers post-Brexit
Hastings and Direct Line are better-positioned financially for Brexit than some of their motor insurer rivals, according to investment bank Berenberg. “Hastings and Direct Line look set to fare relatively well, while we note increasing pressure on esure’s solvency ratio and dividend,” analyst Iain Pierce wrote ...
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NewsPost-Brexit UK needs to match EU cyber protection rules
If the UK wants to compete with the EU on equal terms post-Brexit, UK data protection standards will have to match EU regulations, according to cyber protection firm NCC. “For the UK to do business with the EU, or any other country for that matter, it ...
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NewsCEGA expands fraud investigations team
Medical assistance and claims handling firm CEGA has appointed a special investigator and invested in fraud training. CEGA said George Laney will build on his experience in the company’s claims department and as senior claims advisor. High-level fraud training will be provided for claims and assistance ...
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NewsABI extends funding to initiative that tackles fraud
The ABI said it will extend the funding commitment to the Insurance Fraud Register (IFR) until 2020. The IFR, which is managed by the industry-sponsored Insurance Fraud Bureau (IFB), holds details of insurance fraudsters, suppliers and professional enablers. “The industry’s commitment to the IFR indicates that ...
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NewsMarsh appoints new global placement vice chair
Global insurance broker and risk adviser Marsh, a subsidiary of Marsh & McLennan Companies (MMC), has appointed Jeremy Cooke as vice chairman of global placement. Cooke will focus on critical growth areas including complex market negotiations on facilities, quota shares and key accounts. He was previously ...
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NewsAXA appoints new claims customer service director
AXA has appointed Kim Pearce as claims customer services director as part of its ongoing claims transformation programme. Pearce will be responsible for the operational management of mass motor, mass property and lifestyle claims. She was previously Allianz head of organisational management and has experience from ...
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NewsGallagher buys majority stake in Swedish broker
Arthur J Gallagher has bought an 85% stake in Swedish specialist insurance and reinsurance broker Brim. Gallagher said it is extending its investment in Scandinavia as it is an area of strategic development for the company. Brim was founded in 2001 and provides commercial property/casualty, credit/political risk ...
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NewsTowergate names new chief risk officer
Towergate has hired former Chubb Europe executive Brian Hardwick as its new chief risk officer. He replaces Sarah Dalgarno, who was appointed head of a new unit to tackle the broking group’s old liabilities in May. Hardwick has been chief risk officer at insurer Chubb Europe ...
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NewsPound falls to new low amid insurer property fund suspensions
The pound has hit a new low after UK fund managers, including insurers Standard Life and Aviva, stopped investors withdrawing money from their commercial property funds. The pound was $1.2798 against the dollar on Wednesday, hitting a 31-year low. The BBC reported that the fall followed ...
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NewsMark Wilson confident of Aviva growth despite Brexit
Aviva group chief executive Mark Wilson has said that his company will continue to grow despite the UK’s pending exit from the European Union. Wilson (pictured) made the comments ahead of Aviva’s capital markets day today, where the company will update investors and analysts on group ...
