​Towergate Insurance Towergate Insurance has appointed Neil Pearce as managing director of Towergate London Market. Neil will join Towergate in September this year and will report directly to group chief executive David Ross. He joins Towergate from RKH Specialty where he was executive director responsible for the UK and international liability team. He was previously […]

Specialist insurer Hiscox may set up an EU-based insurer to maintain its access to European markets from which it generates £260m ($340m) in annual gross premiums. The London-listed and Bermuda-domiciled firm said it was preparing for a range of outcomes following the UK’s vote to leave the EU, “depending on whether we remain in the […]

Discovery’s flagship Vitality programme, which rewards members for exercising and eating healthy, will be introduced into Japan – the world’s second biggest insurance market – using Sumitomo and SoftBank’s technological and digital capabilities, said the Johannesburg-based firm. The partnership, which is awaiting regulatory approval, is expected to reach the Japanese market immediately. Discovery’s chief executive, […]

The company gained £87.3m from foreign exchange movements in the period. Hiscox today has become one of the first companies to show how Brexit can benefit a bottom line, after currency shifts boosted its profits. The figures The insurer reported profits before tax of £206m for the half year to June, an increase of 52.5 per cent compared with £135.1m the […]

The potential bust-up of two mega deals among America’s largest health insurancecompanies may have an unintended result – more mergers.  The U.S. Department of Justice on Thursday sued to block Aetna Inc’s (AET.N) $37 billion purchase of Humana Inc (HUM.N) and Anthem Inc’s (ANTM.N) proposed $54 billion buyout of Cigna Corp (CI.N), arguing that they would cut competition […]

Ironshore Inc., the insurer purchased by Chinese conglomerate Fosun International Ltd. last year, filed for an initial public offering in the U.S. after a ratings firm cited concerns about the parent firm’s financial strength. The company filed with an initial offering size of $100 million, an amount used to calculate fees that will change. Fosun […]

Beazley Plc, a Lloyd’s of London insurer, reported a 3 percent fall in first-half pretax profit as premium rates declined for much of the large risk business the company underwrites in London. The underwriter, which provides marine, casualty and property insurance and reinsurance, said pretax profit fell to $150.2 million in the six months ended […]

The Financial Conduct Authority will write to chief executives of U.K. insurers after it found “widespread” evidence that companies are failing to supervise external salespeople. More than half of the companies in a 15-firm sample were unable to demonstrate they could manage the risks arising from the salespeople, who are also known as appointed representatives, […]

Beazley has expressed confidence in its Singapore operation as Atrium’s decision to exit Lloyd’s Asia earlier this week placed the platform’s performance in the spotlight. Speaking at the carrier’s first half results briefing this morning, Beazley’s head of marine Clive Washbourn acknowledged that Singapore was a competitive market. “You can’t wave a magic wand and […]

Travelers Cos., the lone property-casualty insurer in the Dow Jones Industrial Average, said second-quarter private equity returns failed to meet the company’s target, adding pressure to a portfolio that was hurt in the prior three months by hedge fund results. Private equity generated “a few million dollars, and we would have expected about $50 million pretax,” Chief […]