Insurance News
TheBritish Insurance Brokers’ Association (Biba)Holiday Travel+ and Sports Travel+ schemes, fromJackson Lee Underwriting (JLU), now include an enhanced Covid-19 extension for those vaccinated travelling to countries in Europe where Foreign, Commonwealth and Development Office (FCDO) have advised against “all but essential travel” due to Covid-19. It provides cancellation cover and medical expenses costs for those who have been vaccinated and wish to travel to places that the FCDO advise against “all but essential travel” where this advice is solely because of Covid-19.
Specialist insurance providerCFChas expanded its eHealth product suite with the addition of a range of free risk management services for policyholders. The product will be provided through a partnership with the Center for Telehealth and E-Health Law (CTeL).
Henderson Insurance Brokers Founder Joe Henderson has chosen Teesside as the location for the latest branch of his new venture,Attis Insurance. Based in the Port of Middlesbrough, Attis Insurance will reportedly work with commercial clients across most business sectors. The brokerage, established this year, also has offices in Lincolnshire and Yorkshire.
American International Group (AIG)has done something it has never done before – release an environmental, social, and governance (ESG) report – which AIG President and Chief Executive Peter Zaffino said is part of the Insurer’s transparency pledge. In the 85-page report, AIG outlines how it is aligning its sustainability efforts with the insurance group’s core business strategy and describes how the company identifies, measures and manages environmental impact and risk, sets and lives by specific standards of corporate citizenship and empowers its sustainability agenda.
Generalihas updated its strategy for climate protection. The strategy, which updates and extends the global Insurer’s existing plan approved in 2018, commits to significant action related to investment and underwriting activities – the company’s core businesses – and commits to a low-climate-impact future.
TheArdonagh Grouphas announced the upcoming launch ofInver Re, a new reinsurance Broker with ambitions to harness the scale, resources and reach of Ardonagh, attract and empower the best talent and become a top five global player. Inver Re will take a consultative, bespoke approach to the core discipline of treaty reinsurance and craft risk strategies to suit individual requirements by using a combination of traditional actuarial methods and sophisticated data science to provide new levels of insight and analysis.
TheFCAhas fined claims management company,Crosfill & Archer Claims Limited, £110,000. This fine was for making unsolicited telemarketing calls to people who registered not to receive this type of sales call, where the firm had no evidence they had consented to receive the call or where the firm was unable to confirm what consent had been obtained on customer data purchased from third party data providers.
QBE Rehas announced the opening of a new Colombian office and a key regional hire to support local reinsurance in Latin America. The new office will be located in Bogotá, Colombia and will be writing Life reinsurance business. It will be led by Christian Hofmann who has been appointed Client Manager (Latam Life) for QBE Re.
AXIS Insuranceis supporting UK-based The Cyber Helpline in an effort to align the Cyber security community and help individuals impacted by Cyber attacks. The year-long sponsorship will enable AXIS and The Cyber Helpline to share their expertise and raise additional funds to support more Cyber security victims.
Insurance software-as-a-service providerActuris Groupposted a 17% increase, to £104.9 million, in revenues for the financial year ended September 30, 2020.
There are only two months to go until IDEX's Lands End to John O'Groats bike ride, raising money for mental health charity 'Fight for All the Feels'. We have recruited 10 brave souls to undertake the challenge, with representatives from Partners&, NFU Mutual, Aviva, Gymshark, Broker Network, Mitie and Geo Underwriting. If you'd like to support their efforts, follow the link where you can make a small donation, and if you'd like more information contact Rebecca Howarth - rebecca.howarth@idexconsulting.com.
Sponsorship link: https://lnkd.in/egmBDy7
Mergers & Acquisitions
Jensten Group’sswoop forTaskeris the company’s largest acquisition to date, according to Chief Executive Officer Alistair Hardie. The deal, which is subject to regulatory approval and includes Tasker Insurance Brokers, Tasker & Partners and Gresham Underwriting, will add £50m in gross written premium to Jensten.
Partners&has announced the acquisition ofKudos Liability Adjusters, a liability loss adjusting business founded in 2011 by Richard Taylor and Adrian Rawlings. The Broker explained that the move will ensure clients understand their risk exposures and that Insurers benefit from an enhanced presentation of risks.
Formed in 2008 by David Green (Managing Director), Towcester based commercial Broker InsuranceLinxhave purchased the brokerage of Amersham basedAmicable Insurance Services. Jeff and Louise Puddifoot (Principals) will be taking a well-earned retirement from the business after over 30 years trading.
Willis IRM Groupis delighted to confirm that it has acquired the specialist Insurance BrokerPlayle Russell(Special Risks) and its online brand,Thatchline, which is based in Ashurst, Southern England. Established as an independent, family-run business over 20 years ago, Playle Russell specialises in thatch and private home insurance, which will serve as an excellent addition to the Group’s personal lines departments.
Movers & Shakers
Aston LarkappointedRobert Beereas Director of Lloyd’s Broker,Incepta. He joins Aston Lark from Marsh, having worked there for 15 years, most recently as Regional Director for London Market Risks.
MarshwelcomedAndy Desmondas UK & Ireland Construction Industry Leader. Desmond has specialised in the Construction sector for the past 25 years.
In further news...Insurance Broker and Risk Advisor Marsh and its global risk and reinsurance specialist arm Guy Carpenter have announced a swathe of senior appointments to their leadership teams. Paul Moody has been appointed UK CEO, Guy Carpenter. Meanwhile, Dominic Samengo-Turner has been appointed CEO, Marsh Specialty, UK & Ireland. Toby Wemyss has been appointed Global Head of Facultative Reinsurance, Guy Carpenter. Alex Guerin as Head of Office, London, for its UK Corporate business. Mr. Guerin will report to Andrew Wilton, Managing Director of UK Corporate’s South Region.
Liverpool BrokerMason Owen Financial Serviceshas expanded into Wales by addingLouise Jonesto its specialist Legal Indemnity team. Jones was previously at Towergate, Thomas Carroll and Willis Towers Watson. She specialises in right to light insurance and will remain based in Cardiff.
Allianz-ownedEuler HermesnamedSarah Murrowas CEO of its UK and Ireland business. She succeedsMilo Bogaerts, who is moving to become CEO of Euler Hermes Northern Europe Region.
ERS has announced thatStavros Martiswill join the team as its Chief Actuary. Martis has 25 years of experience within Lloyd’s and international reinsurance markets.
Over atHiscox, the Insurer hiredCheralyn Perryfor the new role of Head of Art and Private Client. She joins from RSA, where her most recent position was Partnerships Director.
Applied Systemsbrought inTom Needsas Chief Executive Officer of Applied Systems Europe, taking over from Andy Fairchild. Needs will lead Applied’s European business unit to drive expansion and delivery of innovation to the market.
GallaghernamedTom Wakefieldas Chief Executive Officer of its reinsurance business, Gallagher Re. He will take over the role from current CEOSimon Behagg, who will move on to the new role of Managing Director of Gallagher Re.
Managing general agentQlaimshas appointed Liz Latter as Chief Executive Officer. Having previously worked at Saga, she takes over from Malcolm Harvey, who will remain with the business as Founder and Executive Director.
TheChartered Insurance Institute (CII)has appointed Aston Lark CEOPeter Blancas its President for 2022. The organisation stated that Blanc will work closely with current CII President and Chief Executive Officer of Aon UK, Julie Page, before taking over as President and Chair of the President’s Forum on 1 January 2022.
Global insurance BrokerArcisurehas announced the appointment ofGrahame Millwateras Head of Global Insurance. The appointment is part of a strategy to enable Arcisure’s expansion into a broader fintech financial services company.
Insurance software solutions giant,Genasyshas announced the appointment ofAndré Symes andCraig Olivier to the role of joint CEOs. The news comes as Founder and current CEO,Steve Symes, steps away from day-to-day operations to become Chairman.
AXA XLhas promotedDavid Hughesto Head of Hull, UK & Lloyd’s market. In his new role, Mr. Hughes will be responsible for leading AXA XL’s hull business for the UK & Lloyd’s region and driving the strategic, profitable development of this book of business.
Locktonhas appointedRaj Shouriewithin the Political & Credit Risks Division. Shourie will be responsible for leading the engagement with financial institutions internationally out of London, for both credit mitigation and country risk protection.
Insurtech IntelligentAIhas appointedNeil Stricklandas Chief Commercial Officer to lead the company’s commercial sales activities. Strickland was previously Customer Experience Director at RSA and has over 30 years of insurance experience with AIG, Zurich, and RSA across underwriting, operations, risk management and sales.
Specialist commercial, Property, tradesman, and high-net-worth MGAiprismhas promotedAaron Woodhamsto the newly created role of Head of Underwriting. Woodhams joined in December 2019 from Arch’s Lloyd’s Syndicate 2012 and was previously Underwriting Manager at the MGA. He has also held various underwriting roles at Axiom and Allianz.
McGill and Partnershas appointedPeter Chesmanas Partner in its structured solutions team in the UK. With 17 years of experience behind him, Chesman began his career in 2004 at Aon. During his 15 years at Aon, Chesman was responsible for risk finance consulting and captives, along with strategic client leadership.
MS Amlinhas announced the appointment ofJames Maxwellas interim Chief Risk Officer (CRO), subject to regulatory approval. Maxwell is set take up the role on 5 July 2021 following the departure of CROVishal Desai, who is leaving the company due to personal reasons.
Bristol-basedHayes Parsons Insurance Brokershas appointedRichard Moxonto the newly created role of Head of Private Client. Moxon joins Hayes Parsons from Aon where he ran UK claims; prior to that he was a Managing Director at Marsh running the firm’s Private Client practice and later its Education business.
Carbon Underwriting Limitedis positioning itself for further growth and success with a leadership transition. The company has promotedNick Tye, current Active Underwriter for Syndicate 4747 and Director of Carbon Underwriting, to the role of CEO of Carbon. Current CEOStephen Cardwill transition to the post of Chairman, maintaining a leadership and mentoring role for the growing team.
Aon Plc– which continues to face regulatory hurdles in its swoop for fellow broking giant Willis Towers Watson (WTW) – has confirmed the appointment ofJames Plattas Chief Operating Officer.
TheAssociation of British Insurers (ABI)has revamped its board, creating new posts such as President and Independent Chair. Royal London Group Chief ExecutiveBarry O’Dwyerbecame ABI’s first-ever President on July 01, along with Admiral Group UK CEOCristina Nestareswho took on the Deputy President position. Their remit spans stakeholder engagement and public-facing industry leadership, as well as leading internally.
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All information provided in this Market Digest has been gathered from multiple General Insurance Media sources and individual company press releases.
