Executives at UK insurers, mortgage brokers and payday-loan companies will be covered by the same “duty of responsibility” as those in banks under legislation introduced in Parliament Thursday. The Bank of England and Financial Services Bill, which will be introduced …
Jardine Lloyd Thompson Group plc announced the appointment of Bala Viswanathan as CEO of JLT’s UK Employee Benefits business, subject to the necessary regulatory approval. Viswanathan succeeds Duncan Howorth, who has decided to retire for personal reasons. Viswanathan joined JLT …
Willis Group Holdings plc announced the completion of its acquisition of PMI Health Group (PMIHG), a leading independent healthcare adviser and broker in the UK. PMIHG will operate as Willis PMI Group while the business integrates with Willis Employee Benefits …
UK banks and insurers must appoint a senior manager to “champion” internal whistleblowers as regulators attempt to protect tipsters who come forward with evidence of illegal conduct. The U.K. Financial Conduct Authority and Prudential Regulation Authority published the rules Tuesday, …
Market conditions for UK non-life insurers are challenging as pricing remains weak across most business lines amid fierce competition, according to a new A.M. Best special report. Titled “UK Non-Life Earnings Under Pressure, In Spite of Legal Reforms,” the report …
Swiss Re AG’s business unit Admin Re agreed to acquire Guardian Holdings Europe Ltd. from buyout firm Cinven for 1.6 billion pounds ($2.5 billion) to increase its portfolio of U.K. life-insurance policies. The deal will give Admin Re an additional …
JLT Employee Benefits has agreed to acquire the corporate business of Close Brothers Asset Management Limited for an undisclosed value. JLT EB said the deal will boost its client portfolio and strengthen its market share in pension administration, investment consulting …
Specialist global insurer Hiscox announced the appointment of Eva Berg-Winters as head of UK Claims. Berg-Winters joins Hiscox from strategy consultants OC&C, where she was an associate partner. Originally from Germany, she has spent time working at McKinsey & Company, …
UK bonus payments rose in the past year and are now just 0.1 percent below their peak before the financial crisis in 2008, according to new data from the statistics office. Surprisingly, the increase wasn’t driven by banking, which has …
CNA Hardy has appointed Andy Clements as distribution director, Europe. He will report to Elliot Miller, head of UK regions and Luc Malâtre, VP field operations. Clements will be responsible for building effective and long lasting strategic relationships with broker …
