Latest News – Page 739
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NewsBluefin settles with remaining defendants in poaching case
Bluefin has reached a settlement with the remaining two defendants - Mark Rogers and Suzanne Powell - in its poaching case. The broking group’s lawyer, Mr. Mansfield, said: “A settlement has been reached between the parties on all matters.” This follows the settlement Bluefin reached yesterday ...
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AgendaNew management for Allianz Global Corporate & Specialty board
Allianz Global Corporate & Specialty (AGCS) have announced their its chief underwriting officer. Paul O’Neill, 53-years-old, will oversee AGCS’s energy, marine, aviation and entertainment lines of business, with effect from October 1. O’Neill, who is currently AGCS’s global head of marine and energy, will succeed Bill ...
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AgendaCovéa Insurance addresses homeworking with re-launched product
Covéa Insurance has re-released of a product, with an add-on including a policy designed to meet the demands of executives who run a business from home. The re-launch of Covéa’s Sterling Executive Home product will raise cover limits and add new covers for mid net worth ...
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NewsEcclesiastical publishes principles for handling abuse claims
Specialist churches and charities insurer Ecclesiastical has published a set of principles it will apply when its policyholders face civil action that includes allegations of sexual or physical abuse. The insurer hopes the principles will make the claim process clearer for victims, survivors and policyholders. Ecclesiastical ...
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NewsCooper Gay puts 70 jobs at risk as turnaround continues
Cooper Gay has put 70 London-based jobs at risk of redundancy as it continues to restructure, Insurance Times understands. The broking group employs 400 staff in London, where it is headquartered. The news comes as Cooper Gay continues work to turn itself around under new chief ...
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NewsBluefin, Bruce, GRP and Thornton agree settlement
Lawyers for Bluefin, Mike Bruce (pictured), GRP and Neil Thornton have agreed to settle their legal battle over allegations of staff poaching. But lawyers for Bluefin are still working out whether they can reach a settlement with the other two defendants, Mark Rogers and Suzanne Powell. ...
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NewsSteve White's Blog: Brexit and the broker
Biba chief executive considers the implications of leaving the EU
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NewsBrightside puts 50 jobs at risk in restructuring
Broking group Brightside has put 50 jobs at risk as part of a restructuring programme for its non-customer-facing functions. The functions affected by the restructure include IT, marketing and finance. The formal consultation period for the potential cuts will begin mid-July and the final decision announced ...
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NewsBluefin, Bruce and GRP close in on settlement
The parties in the Bluefin/GRP legal battle are close to reaching a settlement. The trial began today in London, but the judge has now dismissed all parties to discuss a possible settlement following discussions between the defendants’ and Bluefin’s lawyers. They will reconvene this afternoon. Bluefin’s ...
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Online onlyAviva pressure eases after post-Brexit turmoil
Aviva’s share price revovered some of its recent short falls, rising 6.5% in Tuesday’s trading to 368pence. The insurers’ shares had fallen 22% since Thursday’s Brexit vote to close yesterday at 347pence. Aviva, who was one of the biggest victims of the voters’ decision to withdraw ...
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NewsCooper Gay hires chief innovation officer
Peter Hacker has joined broker Cooper Gay as group chief innovation officer. Hacker was previously head of rival broker Jardine Lloyd Thompson’s communications, technology and media practice and has also served as a managing director of Swiss Re. He is also co-founder and partner at Distinction ...
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NewsLloyd's Beale calls for swift Brexit negotiations to end uncertainty
London can maintain its pre-eminent global position in specialist insurance and reinsurance after last week’s Brexit vote, according to Lloyd’s chief executive, Inga Beale (pictured) . But it will need swift action by the government to conclude negotiations, and bring an end to uncertainty in the ...
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NewsDAS launches criminal prosecution against former chief executive
DAS said it has launched a private criminal prosecution against former chief executive Paul Asplin. Asplin has been summoned to court on fraud charges. The hearing is expected to take place at Westminster Magistrates Court on 8 July, although this will not be confirmed until 7 ...
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NewsJavid to hold business summit on post-Brexit fallout
Business Secretary Sajid Javid will today hold a summit meeting of more than 20 representatives of UK industry and business groups to discuss the fallout from the Brexit vote. The CBI, Institute of Directors and British Chambers of Commerce will be among those attending. Biba said ...
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NewsInsurance stocks slump further in market turmoil
Financial markets suffered another major decline yesterday as ratings agency Standard & Poor’s downgraded the UK’s debt rating by two notches from AAA to AA. Financial stocks were among the worst hit, with the FTSE non-life insurance index losing 6% to close yesterday at 2,337. That ...
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NewsL&G names former top civil servant as chairman
Legal & General said it has appointed former senior civil servant Sir John Kingman as group chairman. The appointment has been approved by the PRA and the FCA. Kingman (pictured) succeeds Rudy Markham, who was appointed interim chairman when John Stewart retired on 1 June. Kingman ...
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NewsAviva stresses it is 'resilient' as shares crash 22%
Aviva’s share price has tanked 22% since Friday, one of the biggest victims of voters’ call to exit the EU. The share price was 442p on Friday’s start of trading, but now it is at 347p. The share collapse and voters’ decision to exit the EU ...
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NewsWoman sentenced over income protection fraud
A 45-year-old woman has been sentenced to eight months’ imprisonment, suspended for two years after making fraudulent claims on her employer’s income protection insurance policy. Balbinder Mahil from Luton pleaded guilty to fraud by false representation and was sentenced in May 2016. Mahil was also ordered ...
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NewsQBE outlines the Brexit paths ahead for insurance
The last few days have shown that British business is ill-prepared for Brexit. Sterling and the London stock market have plummeted. Financial services firms in the City of London have suspended investments or announced jobs moving overseas. One firm that recognised the need to explore the ...
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NewsBusinessman jailed for £114,000 insurance scam against NFU Mutual
A kitchen business salesman has been jailed for three years after using fake documents to defraud NFU Mutual in a £114,000 insurance claim. Clive Thomas Wade was found guilty of fraud by false representation and sentenced on Friday 24 June at Grimsby Crown Court after a ...
