AXA has been taking a look at the extent to which consumers mislead insurance companies when completing proposal forms.
Recent research by the insurer has revealed that one in 14 applicants knowingly present false information about lifestyle and previous medical conditions, when applying for cover.
It appears that the miscreants are not solely trying to keep […]

Lloyd’s of London, the biggest insurance market in the world, must seek to increase operations in emerging markets, according to Chairman Peter Levene.
Speaking last night at the annual London City dinner, Levene said the balance of world power is moving from the West to emerging markets in Latin America and Asia, and to oil rich […]

Kansas City-based insurance brokerage firm Lockton is pressing ahead with its plans for expansion in China.
On Friday the Chinese Insurance Regulatory Commission (CIRC) granted Lockton a Wholly Owned Foreign Enterprise (WOFE) insurance broking license.
Lockton’s new Chinese business will begin operating later this month as Lockton Companies (Shanghai) Insurance Brokers Ltd.
Lockton is the biggest privately owned […]

PowerPlace Insurance Services Ltd, has announced the appointment of Nick Giddings as director.
PowerPlace operates using Open GI’s Open Trader technology to distribute PowerPlace products.
Open Trader enables commercial business to be traded electronically, and offers provision for full back-office integration with brokers’ Open GI systems.
Giddings leaves behind his role as head of Countrywide to join PowerPlace, […]

Marsh & McLennan Companies, Inc. (MMC) has appointed Orlando D. Ashford as the new senior vice president of Human Resources.
He leaves behind the Coca-Cola Company, where he served as group director of Human Resources in Eurasia and Africa.
Ashford spent three years with Coca-Cola, previously having served with Motorola, the Delta Consulting Group, Ameritech and Andersen […]

Nicola James has been named by Marsh as a consultant in the firm’s London-based Strategic Risk Practice.
James recently finished the Marsh Graduate Programme, which lasts two years.
During the Programme she spent time in Zurich for the Property Placement Practice, and in London with the Private Equity and Mergers & Acquisitions team.
In this year’s honour roll […]

Norwich Union (NU) has announced that it is cutting final bonuses for with-profits policyholders whose policies are maturing this year.
The insurer, which is part of the Aviva group, says it is taking the action to protect the strength of its four with-profits funds amid falling equity markets, commercial property values and corporate bond yields.
The company’s […]

Pearl Group, the life assurer that acquired Resolution earlier this year for ￡4.9 billion, is closing its Glasgow and Peterborough offices.
The move is expected to affect one-quarter of the group’s workforce and result in up to 480 job losses.
Activities at the offices marked for closure will be scaled down and merged with Pearl’s Wythall […]