Latest News – Page 757
-
NewsHenry Engelhardt and Peter Wood rise up Rich List
Outgoing Admiral chief executive Henry Engelhardt is the richest insurance executive in the UK, according to the latest edition of the Sunday Times Rich List. According to the list, Engelhardt and his family are worth £700m, up from £590m in 2015’s list. This has pushed them ...
-
NewsUK General: Technology driving growth in schemes market
Technology is driving growth and change in the UK schemes market, according to the latest survey of scheme brokers by personal lines schemes underwriting agency UK General. The survey 314 broking firms, conducted in association with Insurance Times between 15 February and 27 March this year, ...
-
NewsMan used fake policies to steal £200k-worth of hire cars
A Lancashire man has pleaded guilty after being caught stealing identities, setting up fake insurance policies and stealing hire cars with a collective value of more than £200,000. Naveed Shah, 37, of Blackburn Road, Great Harwood, Lancashire, pleaded guilty to two counts of conspiracy to make ...
-
NewsInsurance Times scoops award at CII Public Interest Awards 2016
Insurance Times Fraud Charter won The Best Campaign in the Public Interest – Press award at the CII Public Interest Awards last night. Receiving the award [pictured] from left to right are: Insurance Times brand editor Martin Kornacki, senior reporter Ima Jackson-obot, Covéa head ...
-
NewsBrightside names ex-rugby player as head of ProSport business
Brightside has hired ex-rugby player Guy Horchover as head of ProSport, a subsidiary of the broker that places insurance for professional and amateur sports people. Prior to joining ProSport Horchover has held sales and marketing roles at Aegon (2005-2015), Marsh, Willis, GE Insurance and Prudential. In his new role Horchover ...
-
NewsPIB completes Fish and Cooke & Mason deals
PIB Insurance Brokers has completed its previously-announced acquisitions of commercial broker Cooke & Mason and specialist personal lines broker Fish Insurance. The deals, which were announced in February, have received regulatory approval. They are the first acquisitions PIB has made since private equity house Carlyle Group ...
-
NewsCovéa’s Carol Geldard promoted to personal lines director
Covéa Insurance retail distribution director Carol Geldard (pictured) has been promoted to personal lines director. Geldard will take up the newly-created role on 1 June this year. In her new job Geldard will have executive responsibility for the UK insurer’s direct and brokered personal lines offering. ...
-
NewsEx-manager to get £45,942 from broker for unfair dismissal
A broker has won an unfair constructive dismissal case against her former employer Abbey Insurance Brokers. Anne McLarnin, who worked had worked for Northern Ireland broker Abbey for 12 years, claimed she felt ‘shafted’ and was forced to resign as manager of Abbey’s Newforge branch. The ...
-
NewsCullum's MVP takes stake in broker Kingsway
Peter Cullum-backed investment vehicle Minority Venture Partners (MVP) has bought a stake in commercial insurance broker Kingsway Insurance Services. The size of the stake was not disclosed but MVP typically buys minority holdings in brokers of between 20% and 30%. Kingsway plans to use the new ...
-
Online onlyHiscox poaches UK finance chief from Pru
Hiscox has landed a recruitment coup by poaching Prudential’s UK and European financial officer. Hiscox has landed Hamayou Akbar Hussain, known as Aki, to head up its finance. Hussain will lead the and development of the financial team and oversee the insurer’s investments. Bronek Masojada, chief ...
-
NewsRSA planning to halve UK staff redundancy payouts
RSA is planning to halve the amount of redundancy pay for staff who joined the company before April 2013. The insurance group is also planning to stop paying new contributions into its defined benefits pension schemes from 31 October 2016. RSA will consult staff on the ...
-
NewsMarsh-owned Jelf names new direct and network heads
Marsh-owned Jelf has appointed Duncan Carter to the role of Direct and Partnership (D&P) chief executive. The newly created division comprises Jelf’s Purple Partnership and Marsh’s three networks: Marsh ProBroker, Marsh Labyrinth, and Marsh Connections. It also includes Marsh and Jelf’s affinities businesses and online broker ...
-
NewsTony Allen shifts focus to A&A’s Gibraltar insurer in reshuffle
A&A Group chief executive Tony Allen is shifting his focus to the group’s Gibraltar-based insurer, Mulsanne Insurance Company, as part of a reshuffle. The company has also named Paul Twilley as Mulsanne’s claims director. Key points A&A has bought failed Gibraltar insurer Service’s UK ...
-
NewsEnterprise to expand in UK following Italy and Ireland exits
Enterprise Insurance Company (EIC) is planning to expanding its niche commercial vehicle products to UK brokers on the Open GI and SSP platforms as it has exited a number of partnership in Italy and Ireland. Underwriting director Martin Kennedy said the exits had provided the insurer ...
-
NewsPensioner behind Munich Re agency bomb hoax jailed
A pensioner who carried out a bomb hoax against a Munich-Re owned underwriting agency has been jailed for 16 months. Liverpool Crown Court heard David Norris, 74, had long harboured a grudge against Groves, John & Westrup (GJW), which had rejected his £168,000 claim after his ...
-
NewsAviva relaunches high net worth unit as Aviva Private Clients
Aviva has relaunched its high net worth business under the brand Aviva Private Clients. The division will have a dedicated managing director, Adam Beckett, and a dedicated team, of underwriters. The insurer will upgrade its suite of high net worth products, which are branded Distinct, and ...
-
NewsMarkerstudy’s Russell Bence joins Brightside
Markerstudy retail managing director Russell Bence, whose departure was announced yesterday, is to join broking group Brightside as managing director of volume lines. Bence will start his new role in May. Brightside executive chairman Mark Cliff said: “I was looking for an MD with broking in ...
-
NewsInsurers lose legal battle over Sony warehouse riot fire
Insurers have lost their battle with London mayor Boris Johnson over the payout for the Sony warehouse fire in Enfield following the August 2011 riots. This means insurers, not Johnson’s office, will have to foot the bill for loss of profit and rent related to the ...
-
NewsAndy Wallin joins Cooper Gay as commercial director
Former Brightside chief executive Andy Wallin has joined broking groups Cooper Gay Swett & Crawford (CGSC) as group commercial director. Wallin left Brightside in September 2015 after only eight months as chief executive. Before joining Brightside Wallin was managing director of Arthur J Gallagher’s direct business ...
-
NewsAdrian Colosso to support MGA’s UK broker push
Broking industry veteran and former Howden UK chief executive Adrian Colosso has joined specialist property managing general agent Inet3 as non-executive chairman. The MGA said Colosso, who left Howden at the end of July 2015, said Colosso will play a “pivotal role” in supporting it as ...
