United Kingdom (UK)
British entrepreneurs to benefit from £14.7m Axa start-up fund
Axa UK has pledged €20m (£14.7m) to boost the development of innovative ideas that could be used to benefit to the future of the insurance, healthcare and financial technology industries.
Bupa launches tiered IPMI product range in the UK
Bupa Global has launched its first tiered range of international private medical insurance products in the UK.
PRA expects total UK insurance capital to drop under Solvency II
The Prudential Regulatory Authority’s executive director of insurance has forecast that total capital held by insurers in the UK will likely drop under incoming Solvency II rules.
Bluefin hires Henderson's commercial director to build Leeds presence
Bluefin has appointed Greg Markham as sales director in its Leeds office.
ALC Health CEO awarded MBE
Sarah Jewell, founder and CEO of international medical insurance provider ALC Health has been awarded a Member of the Order of the British Empire in the New Year Honours list.
Equistone sells A-Plan stake to Hg Capital
Private equity firm Equistone has agreed a deal to sell its majority stake in UK broker A-Plan to investment firm Hg Capital.
Fusion Insurance opens Manchester office
Fusion Insurance has opened a Manchester office - its seventh trading office in the UK.
Gallagher's international development head to leave company
Arthur J. Gallagher’s chairman of international development John Hastings-Bass will retire from the company in January 2015, the broker said today.
Customer loyalty obtainable for UK insurers if 'fair value' is provided
Insurers have been advised to focus on building long-term relationships in order to retain policyholders after a survey by Consumer Intelligence showed customers do not want to shop around annually.
Howden turns attention to UK market with Powell Bateson acquisition
Howden Broking Group has moved to expand its UK regional footprint with the acquisition of commercial broker and risk management consultancy Powell Bateson.
R&Q expects full year pre-tax result to be below expectations
Lower than anticipated investment income and a “disappointing” trading performance in the US have contributed to Randall & Quilter predicting its full year pre-tax result will be materially below market expectations.
Insurance industry failing to win over business students
The insurance industry’s lack of appeal to business students could impact the sector’s future success, according to a study carried out by business advisory firm Deloitte.
Blog: Diff'rent strokes to move the world (of insurance)
As a popular 1970s/80s US sitcom noted: ‘the world don't move to the beat of just one drum; what might be right for you, may not be right for some' - a theme tune that is as relevant to insurance markets as it is in the wider world.
Zurich UK profits up 19% in first nine months
Zurich’s UK general insurance business posted a 19% increase in business operating profit to £136m for the first three quarters of 2014, compared with £114m for the same period in 2013. Gross written premiums rose 2% on the first three quarters of 2013…
Treasury pledges £97m for ‘world-leading’ Met Office supercomputer
Chief Secretary to the Treasury Danny Alexander has today revealed plans to spend £97m on a supercomputer to improve the UK’s ability to predict disruptive weather.
Ecclesiastical appoints Brown to new church and heritage role
Heritage specialist Ecclesiastical has appointed Andrew Brown into a newly created role of church and heritage claims director.
Hiscox launches personal accident insurance product
Hiscox has launched a personal accident insurance product for the UK market.
Hiscox returns to TV with new home insurance campaign
Specialist insurer Hiscox has launched a new television campaign, with the strapline ‘as your home becomes more important, so does your insurer’.
Zurich UK GI CEO Smith replaced by group controller Sharma
Zurich has announced that Switzerland-based group controller Vibhu Sharma will replace Dave Smith as UK general insurance chief executive from April next year.
Gallagher appoints COO and MD of partnerships for GIS
Arthur J. Gallagher has appointed Simon Pearce and Andy Tedstone to the senior management team of its UK distribution arm Gallagher Insurance Solutions.
Volatility adjustment approval process could disadvantage UK firms
Proposals to make the Solvency II volatility adjustment subject to pre-approval by the Prudential Regulation Authority could put UK firms at a competitive disadvantage, according to EY’s head of insurance regulation and risk Martin Bradley.
Applied Systems plots UK growth
Brokers using Applied Systems software can expect to see growth in the US firm's UK arm in its product offering and staff numbers, according to the company's senior leaders.
UK expected to lead on Solvency II related disposals in 2015
The impact of the Solvency II directive has been attributed for an expected sixth year of growth in the European run-off market, according to PWC’s annual survey.
R&Q posts pre-tax loss of £600 000 for H1
Insurance investor and underwriting manager Randall & Quilter posted a pre-tax loss of £600 000 for the first six months of 2014 (H1 2013: £3m profit) following an increase in legal expense reserves.