Ardonagh Group’s dismal £260.9mn 2017 FY loss was exacerbated by a more than £50mn charge thought to be related to claims against one of its companies Towergate, which was forced to payout millions in compensation over a pensions advice scandal.
The deputy governor of Ireland’s central bank has fired a warning shot to the “astounding” number of Irish insurers that say they do not expect to be impacted by the UK’s departure from the European Union.
The Russian authorities appear to have taken aim at the big three reinsurance brokers’ dealings in the country after a report in a state-run newspaper said the companies’ dealings with the Russian National Reinsurance Company (RNRC) were under “investigation” by the Interior Ministry.
Lloyd’s insurer Barbican and broker Howden have become the latest to find themselves ensnared in the growing construction liability crisis, re-Insurance.com understands.
The UK regulator has asked whether brokers “informally” share information about tenders in its wide-ranging probe into the wholesale market, re-Insurance.com revealed on Friday (6 April).
The Financial Conduct Authority (FCA) has set out plans to scale back activities that aren’t directly impacted by Britain’s departure from the European Union.