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Brit bolsters Chicago presence - Tuesday, March 09, 2010
International general insurance and reinsurance group Brit Insurance has announced the appointment of Bill Jackson as senior VP of Property Direct and Facultative for its US operations. He brings with him over three decades of re/insurance experience, and extensive knowledge of underwriting, management and marketing. He joins Brit from Burt and Scheld, where he worked as senior ...
Glacier Group announces rising profits in 2009 - Tuesday, March 09, 2010
European insurer and reinsurer Glacier Group has released its financial performance figures for 2009. Net income for the year was more than double that of 2008, rising by $34m to $60m, with return on equity rising from 5% to 12%. Total gross written premiums declined by $100m to $469m, a fall that occurred due to Glacier’s decision ...
FSA consults again on PPI reforms - Tuesday, March 09, 2010
The Financial Services Authority (FSA) has published feedback on its plans to reform the Payment Protection Insurance (PPI) market and at the same time announced a further consultation on a revised package of measures aimed at ensure customers are treated consistently and fairly, either when buying new PPI policies or making a complaint about an ...
LIU Europe appoints head of Strategic Assets unit - Tuesday, March 09, 2010
Liberty International Underwriters Europe (LIU Europe) has appointed Matthew Hogg as vice president. Based in London, Mr Hogg will lead the group’s newly established Strategic Assets division. The unit has been set up to underwrite a range of specialist risks, including intellectual property, reputational risks, cyber insurances and non-material damage business interruption. Having joined LIU Europe from Marsh ...
Half of Britons unfulfilled at work - Tuesday, March 09, 2010
Bupa’s “How Are You Britain” report indicates that almost half of the country’s workforce is less than happy. In a poll of over 2,000 people, 49% said they were feeling “unfulfilled” in their jobs, and 21% were annoyed by a lack of career progression. The health insurer is therefore recommending some simple changes that can make a ...
AXA goes for commercial business growth in Malaysia - Tuesday, March 09, 2010
AXA has announced that its Malaysian subsidiary, AXA Affin General Insurance Berhad, has received approval from Bank Negara Malaysia (the country’s central bank), to acquire 80% of BH Insurance Berhad. AXA general insurance chief executive officer, Jan van den Berg, describes the move as “important for the long-term growth of AXA in Malaysia” because it will ...
Free legal disputes service from Allianz Commercial - Tuesday, March 09, 2010
Allianz Commercial is offering a free legal disputes service to all of its SME policyholders. The service, which is being provided in conjunction with Allianz Legal Protection, aims to assist SME customers with contract and professional negligence disputes. It offers a free legal assessment of any dispute by a commercial solicitor and, if the the ...
Bluefin to continue acquisition spree - Tuesday, March 09, 2010
Bluefin Insurance Services has confirmed ambitious acquisition plans spanning the next three years. The AXA-owned broker already has over 50 branches, having acquired Lakeland Insurance Brokers and Lakeland Insurance Advisers in 2009. The firm currently has six acquisitions in the pipeline and looking ahead, believes the current economic climate “is likely to yield further good prospects”. It is ...
New law on third-party dog insurance - Tuesday, March 09, 2010
The Government is considering plans for legislation that will demand every dog owner in the UK carries third-party insurance against their pet causing injury to a person. Concerns that dogs are being bred solely for the purpose of intimidating others have led ministers to review the Dangerous Dogs Act 1991. According to Home Secretary Alan Johnson: “The ...
Prudential eager for Hong Kong listing - Tuesday, March 09, 2010
Prudential is accelerating its plans to list on the Hong Kong Stock Exchange. The insurer has recently agreed terms with American International Group (AIG) to acquire AIA, the Asian business of the embattled US insurance giant, for $35 billion in cash and shares. Once the sale was agreed, AIG decided not to pursue an initial public ...