Run off
Biba seeking new HNW schemes provider due to Home & Legacy closure
The British Insurance Brokers’ Association is searching for a new high-net-worth schemes provider, and will be ‘seeking tenders from alternative providers’ in light of Allianz planning to put Home & Legacy into run-off.
The top five stories of 2021
Insurance Age lists the five news stories that have been most popular this year, including updates on the BI saga, Intact's RSA takeover and David Williams' exit from Axa after 41 years.
Prometheus Insurance falls into administration
The Gibraltar-based insurer, also known as Tradewise Insurance Company, which went into run-off last year, cannot meet claims in full.
Syndicate 1991 to go into run-off
The Lloyd's syndicate will stop writing business on 31 December in another loss for the liability market.
Staveley Head-linked Policyplan goes into run-off
One Sure which, bought the rights to the Staveley Head brand in April, has agreed to manage the Policyplan run-off.
Leisure Insure closes permanently
Updated: UK capacity was pulled last month as directors say they were not prepared to go offshore or use "obscure foreign markets".
News analysis: Insurer run-offs could leave brokers searching for capacity
As providers continue to pull out of unprofitable lines of business, a generation of brokers who have never known a hard market could struggle in a capacity crunch, industry experts have warned.
The Insurance Age Podcast: 10 January 2020
Laurence Eastham and Siân Barton consider the top stories from the first full week back in the office in 2020, focusing on Gefion and the recent spate of run-off announcements.
Brokers predict more marine exits after Beazley run-off
Marine specialists expect to find replacement cover in the short-term, but predict that more market hardening is on the way.
Beazley places UK regional marine book in run-off
Decision could result in a small number of redundancies as the insurer pointed to pressure and low margins in the sector.
Neon Underwriting placed into run-off
Neon's parent company American Financial Group has decided to exit the Lloyd's market.
Vibe syndicate enters run-off
Syndicate 5768 will stop underwriting as of the end of this year as it fails to secure enough support.
Tokio Marine Kiln closes Birmingham branch
Move follows decision to place Tokio Marine Kiln Insurance into run-off in June.
Tokio Marine Kiln: Figures revealed following closure of UK arm
Most recent results for Tokio Marine Kiln Group show losses for TMKI which is now being placed in run-off.
Elite proposes solvency scheme to avoid liquidation
Gibraltarian insurer warns liquidation would be costly for creditors and could delay claims payments.
HSBC Insurance (UK) sold for £68.5m
HSBC Insurance Services Holdings has agreed to sell HSBC Insurance (UK) to Syndicate Holding for £68.5m in cash.
Bluefin to put SME underwriting facility Elite into run-off
Bluefin has announced that it is putting its Elite underwriting facility for small to medium sized enterprise (SME) business into run-off in favour of expanding its existing Platinum product range.
Axa withdraws personal lines business from Westinsure
Axa has confirmed that its personal lines intermediary business has exited the Westinsure broker network and that all preferential commission rates for that book have ceased.
New run-off scheme launched
Tenet has released a new run-off cover scheme which it claims will plug a hole in the professional indemnity insurance market.
Ecclesiastical pulls out of the London market
Ecclesiastical has announced its plans to cease underwriting London market business and begin the run-off of the existing portfolio of its subsidiary Ecclesiastical Underwriting Management (EUM).
Charles Taylor appoints new board of directors
A new board of directors has been appointed at Charles Taylor Insurance Services (CTIS) as the latest stage of the development of the business.