Latest News – Page 674
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NewsHenderson buys Sunderland broker
Henderson Insurance Brokers (HIBL) has bought Sunderland-based Branch Insurance Brokers as it plots further expansion in the North East. HIBL has two other purchases in the pipeline as well as investment in existing business. Chief executive Joe Henderson said: “HIBL’s prime growth is organic and this ...
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NewsAXA’s Blanc and RSA’s Lewis join ABI board as Evans and Hester exit
AXA UK chief executive Amanda Blanc and RSA UK and western Europe chief executive Steve Lewis have joined ABI’s board. Former AXA UK chief Paul Evans, who has moved to become AXA’s global life, health and savings head, will step down as ABI chairman at the ...
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NewsLabour's McDonnell says passporting rights 'vital'
The Labour Party will seek to preserve passporting rights for financial services including insurance. Shadow chancellor John McDonnell (pictured) cited passporting rights as one of the Labour Party’s “red lines” in its policy on negotiations with the EU after last week’s Brexit vote. Labour’s red lines ...
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News'True independence after MBO will drive growth': Compass MD Lincoln
Compass managing director John Lincoln said that becoming independent would drive growth for the network as it targets £1bn in gross written premiums over the next three to five years. Speaking with Insurance Times following the management buyout (MBO) of Compass from Arthur J Gallagher, Lincoln ...
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NewsRunner ordered to pay Aviva £9,213 after ‘fundamentally dishonest’ whiplash claim
A runner has been ordered to pay Aviva’s cost of £9,213 after an investigation into his whiplash claim saw him running, hiking and working. During the court hearing at Liverpool Country Court the judge found that 29-year-old William Owen’s whiplash claim was “fundamentally dishonest”. Owen first ...
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NewsCompass completes MBO from Gallagher
Broker network Compass has completed its management buy-out (MBO) from broking group Arthur J Gallagher, Insurance Times can reveal. The MBO was backed by Close Premium Finance, a subsidiary of merchant banking group Close Brothers. The companies did not disclose what Compass’s management team paid Gallagher to ...
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NewsZurich UK GI boss Vibhu Sharma to leave
Zurich UK general insurance chief executive Vibhu Sharma is leaving the company “to continue his career outside the group”. Conor Brennan, currently Ireland general insurance chief executive, will take over from Sharma from the end of July. The move closely follows the appointment of Anne Torry ...
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NewsTowergate appoints Zurich's Martin as commercial director
Towergate named Kay Martin as its new commercial director. She joins from Zurich UK, where she was a member of the UKGI executive and chief marketing officer since 2010. Martin will join Towergate’s executive committee, reporting to chief executive David Ross. She recently assumed interim responsibilities ...
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Online onlySelf-driving car claims first road death
The driver of an electric Tesla car has been killed while the vehicle was on autopilot. It is understood to be the first road death involving a self-driving car, with American news outlets naming the driver as Joshua Brown from Ohio. “What we know is ...
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Online onlyGable crisis deepens amid stock market suspension request
The crisis swirling around unrated insurer Gable deepened today as it requested suspension from the AIM stock market. The Liechtenstein-based insurer requested a suspension of its share trading on AIM until the publication of its audited annual report and accounts for the year ended 31 December ...
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NewsFive fraudsters brought low by stupidity or arrogance
Many fraudsters are caught out by their own arrogance, stupidity, a lack of attention to detail, or by pushing their frauds just one scam too far. With specialist police investigators working with the insurance industry, insurers are more alert for inconsistencies and anomalies in claims, and ...
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NewsMarkerstudy buys telematics broker Drivology
Insurance and broking group Markerstudy has bought app-based telematics broker Drivology. The acquisition will add over 6,000 policyholders to Markerstudy’s retail division. Drivology specialises in smartphone app-based car insurance. The company’s app monitors how safe a driver is to determine motor insurance premiums. The app determines ...
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NewsBrexit means bad news for innovation says Atidot
Start-up risk management company Atidot chief executive Dror Katzav has said that Brexit means bad news for innovation as start-ups are “businesses for immigrants”. Speaking at a London InsurTech event on June 29, six panellists shared their views on whether Brexit would impact the InsurTech wave ...
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NewsLloyd’s pushes for passporting as Brexit threatens £800m GWP
Lloyd’s estimates that £800m of its gross written premium (GWP) could be affected if access to the single market is lost because of Brexit. This accounts for 4% of its £26.6bn total GWP. The insurance market made the estimate in a document outlining its plans to deal with the UK’s ...
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NewsWillis’s Gaffney says risk is the future of insurance
Willis Towers Watson chief technology officer Simon Gaffney has said that there are huge opportunities in the risk market for new people entering the insurance industry. Speaking at the London InsurTech Conference on 29 June, Gaffney said that technology is transforming clients and creating new businesses ...
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NewsEsure says no takeover bids received, after share price spikes
Esure said it has received no approaches about a potential offer for the company. The company was responding to takeover speculation that boosted its share price in morning trading. Shares in the company rose 14% to 297 pence this morning after reports suggested an offer might ...
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NewsLV= promotes two managing directors to its executive team
LV= has promoted managing director of retirement solutions business John Perks and managing director of protection business Myles Rix to its executive team. Perks has had responsibility of LV=’s retirement business and has worked as customer solutions director for the insurer. He also has experience ...
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NewsElite looks to quit Gibraltar HQ to preserve EU passporting rights
Elite Insurance said it is looking for a new headquarters outside of Gibraltar. The insurer said it won’t wait for the outcome of Britain’s negotiations with the EU, and is taking action to safeguard its business in the EU. “Elite is already researching alternative domiciles for ...
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NewsCII seeks to recruit ex-military into insurance
The CII has launched a new microsite dedicated to helping ex-forces explore a career in risk and insurance. The microsite offers first hand experiences of ex-military personnel who have found second careers in insurance - this gives visitors their unique stories and helps others explore career ...
