Latest News – Page 750
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AgendaCarrot and Trak Global in telematics deal with Volkswagen
Volkswagen Financial Services (VWFS) has teamed up with telematics broker Carrot and its sister technology firm Trak Global on a new offering for young drivers. Under the deal, VWFS will offer a year’s free telematics-based insurance to 18-to-24-year-old drivers that buy a Volkswagen Polo from a ...
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NewsBoss Greco: Zurich general insurance making a recovery
Zurich’s highly-rated new chief executive Mario Greco says the general insurance arm is ‘improving’. Greco pointed to Zurich’s first quarter results as evidence that the general insurance arm is on the right path. Group net income in the first quarter fell 28 percent to $875 million, ...
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NewsZurich must target SMEs, says boss Greco
Zurich chief executive Mario Greco will make the targeting of SME a big focus. Speaking to analysts following its first quarter results, Greco said: “I am keen to find ways to grow more on the SMEs and the retail components of our book… But I’m not ...
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NewsBrexit will damage UK insurers and the London Market, bosses say
Most UK insurance executives think that leaving the EU would severely damage the UK insurance industry and the London market, according to a study by international law firm Kennedys. “There is near universal agreement amongst senior executives in the insurance industry that the UK leaving Europe ...
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Online onlyIngenin and Imaginatik join forces to boost insurance innovation
Imaginatik and Ingenin have formed a global partnership to provide innovation solutions for the insurance industry. Ingenin is an innovation consultancy focused on the insurance industry, which was launched by two co-founders of the AXA Insurance Innovation Hub. Imaginatik has 20-years’ experience of developing sustainable innovation ...
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NewsAgeas pledges to support Brightside after Markerstudy exit
Ageas UK will aim to continue supporting Brightside after fellow major capacity provider Markerstudy decided to cancel its agency with the broking group, chief executive Andy Watson said. Brightside has a range of capacity providers, but Ageas and Markerstudy are its biggest supporters. Speaking to Insurance ...
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NewsLloyd's syndicate Probitas 1492 expands underwriting team
Lloyd’s syndicate Probitas 1492 has expanded its casualty offering with the appointment of Ernesto Medina within its financial lines team. Previously senior financial institutions underwriter at Zurich, Medina brings experience of underwriting a large portfolio of international banks, asset managers and private equity and hedge funds, ...
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NewsAgeas UK Q1 profit higher, driven by motor
Ageas UK reported a sharp rise in first quarter profit and an improvement in its combined operating ratio, driven by a favourable motor performance. Net profit rose 59% to £19.0m from £12m from a year earlier, while the UK business’s COR improved to 99.0% from 99.7%. ...
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NewsRural rebrands in plot to be ‘challenger’ in agricultural insurance market
Managing general agency (MGA) Rural Insurance has rebranded its logo as it sets out plans to be a challenger business within the agricultural insurance market. Chief executive Ian Barclay said the UK’s rural economy was a major contributor to the UK economy - valued at £211bn ...
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NewsBluefin promotes Steve Hook to personal lines MD role
Bluefin has promoted Steve Hook to the position of personal lines managing director. Neil Forsyth has also been named as Bluefin’s new London Market Broking Director – replacing Paul Longhurst, who has left the broker to join Towergate. In his new role Hook will be responsible ...
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NewsQueen's Speech: Bill to ensure cover for driverless cars
The government is to promote the development of autonomous cars and will make sure insurance companies provide cover for them, it was announced at the state opening of Parliament. In her speech outlining government policy for the coming year, the Queen said the government wanted to ...
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NewsLloyd’s chief risk officer McGovern to leave for XL Catlin
Lloyd’s chief risk officer and general counsel Sean McGovern is leaving after 20 years at the corporation to join XL Catlin. McGovern will become the global (re)insurance group’s chief compliance officer and head of regulatory and government affairs. To protect commercial confidentiality, McGovern is now no ...
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NewsTowergate hires London Markets broking director from Bluefin
Towergate has appointed Paul Longhurst as broking and distribution director in its London Markets division. Longhurst joins Towergate from Bluefin, where he had been London Market broking director for 25 years. Towergate Group chief executive David Ross (pictured) said: “We recognise the huge opportunity that exists ...
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Online onlyAXA France chairman and chief executive Nicolas Moreau to depart
AXA France chairman and chief executive Nicolas Moreau is stepping down from his role on 30 June after 25 years at the company. His replacement will be announced shortly. Prior to being head of AXA France Moreau was head of the insurer’s UK and Ireland business. ...
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NewsHastings and Esure to win market share by 'aggressive undercutting'
Market share between motor insurers Hastings and Esure will only be won by aggressive undercutting of the opposition, according to a research note by investment bank Macquarie. With two quarters of rising prices behind them in the second half of 2015, both Esure and Hastings have ...
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NewsUK financial services industry is ‘perfect target’ for cyber attack - report
Financial services companies vastly overestimate how much insurance they have against a cyber-attack, Marsh UK and Ireland chief executive Mark Weil has said. This means the UK financial services industry is ‘perfect target’ for attack, according to lobby group TheCityUK’s Cyber Taskforce report co-written by Marsh. ...
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Online onlyAviva to invest millions in tech start-up enabler
Aviva is to invest millions of pounds in Founders Factory, a technology incubator, to forge a new wave of financial service start-ups, Sky News reports. The deal, due to be announced today, will make Founders Factory an exclusive services partner with Aviva. Ben Hoberman, who set ...
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NewsLloyd’s chairman slams Brexit backers’ ‘irresponsible’ claims
Politicians claiming that that the UK would be able to replicate the benefits of a single market outside the European Union if it leaves are “irresponsible”, according to Lloyd’s chairman John Nelson. Speaking today at the Lloyd’s annual general meeting (AGM), Nelson also accused those making ...
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NewsAXA comes top in Brokerbility survey
AXA has been voted top insurer in the latest bi-annual survey by Brokerbility of its broker members. With a score of 83.13%, AXA topped the list for highest overall satisfaction, and was also the leading insurer in the claims category with a score of 84.90%. RSA ...
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NewsBicycles top household theft claims
Bicycles are the most common item cited in personal theft claims, followed by handbags and mobile phones. According to research by HomeProtect Home Insurance, 46% of all personal theft claims were for bikes. “As more people have taken to cycling, bicycle theft is much more common ...
