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Insurance Europe has revealed its response to a consultation conducted by the European Commission (EC) on withholding taxes and a new EU system to avoid double taxation.

The federation of European insurers and reinsurers welcomed the initiative, saying the current rules lead to lengthy, complex and costly withholding tax relief procedures. In some cases, investors end up waiving their right to claim a refund or relief from the withholding tax levied due to the complicated regulations, it said.

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The scheme is offered on a voluntary basis, and employees are given the choice of opting in or out every quarter. According to Freedom, 75% of its employees have opted in for the scheme so far.

In January, Freedom’s employee engagement survey found that its staff desire more flexible working models that allow a better work-life balance. In response, the company formed a group of seven employees to examine the feasibility of a four-day week. Together, they made recommendations which were used to develop the scheme, ensuring a smooth transition into the four-day working week beginning July 01.

“Implementing the four-day week is part of an overall strategy to increase levels of engagement and performance across the group and is aligned with our core values,” said Chantel Emilius, executive director of culture and engagement of Freedom Services Group. “We believe that this initiative will prove beneficial to our employees’ happiness and wellbeing which in turn will have an equally positive impact on business productivity, customer experience, and recruitment and retention strategies.”

The four-day week pilot has been promoted at interview stage as an incentive for Freedom’s recent recruitment campaigns, which has seen 24 employees join since April. To ensure the longevity of the scheme, the four-day week will see incremental changes through the company’s operations to assist the adoption across the whole organisation, as well as measure the impacts of the reduced hours. Freedom will formulate individual development plans with measurable objectives for employees, complemented by the use of workplace management and engagement tools such as SageHR and Reward Gateway.

“Implementation of a four-day working week doesn’t happen overnight,” Emilius said. “In order to do this initiative correctly, we needed to ensure that not only do we have the buy-in of our staff at every level, but we also have the operational processes and tools that support the transition.”

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Diversity, equity, and inclusion (DEI) is top of mind for the next generation of insurance professionals – therefore, companies with the best DEI policies will attract the finest new candidates. This year, Insurance Business (IB) has identified the top 5 companies in the UK that have exhibited the type of DEI initiatives bound to draw the brightest, most talented, and most passionate employees to the UK insurance industry.

The Insurance Business UK (IBUK) team identified the companies with the best DEI initiatives this year by inviting firms to share the DEI initiatives they have focused on over the past 12 months. For 15 weeks, the IBUK team conducted one-on-one interviews with DEI professionals to gain a keen understanding of the industry standards for DEI and to determine which companies have met or exceeded these expectations.

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With more than 30 years’ experience in the media and entertainment business, Bramwell joins from Marsh, where she worked for seven years as head of media and entertainment, leading its London-based team.

Prior to Marsh, Bramwell co-founded O’Neill and Bramwell, an insurance broker specialising in the advertising, production and event industries, which she co-managed for over 10 years. The firm was acquired by Oval Insurance, where she took the role of director of media and entertainment. She began her career at Northwood O’Neil.

“I am delighted to welcome Susana to Miller,” said James Hands, CEO-designate of Miller. “As a highly respected leader in the market with strong relationships and deep technical knowledge, we are excited to have her lead the build out of our team’s media, TV and film offering. At Miller, our priority is always to remain agile and able to meet the changing needs of our clients, and I am confident that Susana’s appointment will be critical as we continue to grow and evolve our products and services.” 

Over the past 12 months, Miller has invested significantly in the expansion of its sports and entertainment proposition, including the recent acquisition of Henner Sports.

“Miller’s sports and entertainment team is highly regarded in the market, and it’s exciting to be joining at a time when they are further investing in what is already a leading offering,” Bramwell said. “I look forward to bringing clients solutions that combine specialist technical advice and Miller’s exemplary client service. The culture of innovation, teamwork and collaboration was key to my decision to join the team, and I’m looking forward to supporting our clients through existing and emerging risks over the coming years.”

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The biggest event on the MGA calendar is just around the corner – make sure you are in attendance for the Managing General Agents’ Association (MGAA) Conference 2022 – a lively event packed with speeches, panel discussions, and breakout sessions.

The MGAA authoritatively represents MGAs in negotiations with government and regulatory bodies whose rulings impact its members, and assists insurance carriers supporting MGAs to maintain the stability, security, and reputation of binding authority arrangements. It also runs events where brokers, insurers, suppliers, and MGAs find new ways to collaborate.

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The Aventum Group has appointed James Baird to a senior leadership position within its international reinsurance broker unit, Consilium.

In his new role, Baird will help manage the strategic direction and growth of Consilium globally, a release said. Aventum also noted that he will be responsible for bringing Consilium to new territories and product lines, while building on the existing brand and client base.

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Professional indemnity coverage is on the rise throughout the UK. Safeguarding one’s professional reputation is critical for numerous reasons, and, in recent years, workers have been choosing to invest in professional indemnity coverage to protect themselves.

Now, Insurance Business is examining how the professional indemnity landscape is taking shape – and your insights can be a part of this important industry analysis.

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Chief executive Crescens George said that the insurance industry is facing its biggest recruitment crisis in many years, leading him to establish Rise Up Insurance. This initiative will highlight the opportunities for young talent in the insurance sector, especially broking.

“The boot camps will be organised and operated by Wiser Academy staff and be held in London, Birmingham and Manchester, as well as Scotland and Northern Ireland,” George said. “We’ll teach students the basics of insurance but also good practice and workplace behaviours and then help polish up their interview skills and prepare their CVs. We will then go out to our contacts in the industry with a class of enthusiastic, young people ready for interview, with the basic skill set, and enthusiastic about working in insurance.”

George expects at least 200 of the boot camp attendees to enter the insurance industry, but he still has hopes that all 500 will make it.

In the initial phase of the initiative, Wiser Academy wrote to 3,000 secondary schools, and is also looking for speaking slots at assemblies and other school careers fairs to talk directly to 17- to 18-year-old students and explain what the insurance industry can offer.

The initiative follows a report from Aviva, published in April, which found that 99% of local brokers have a vacancy. 59% of those have vacancies which have been open for more than four months. The situation is similar for regional and national brokers, with the national brokers and almost all regional brokers having long-standing unfilled vacancies.

“We have to encourage young people into the industry if we are going to thrive and prosper in the future,” George said. “We can’t expect talent to come knocking on our doors of their own accord, especially given the competition from other industry sectors. We need to be much more aggressive in our recruitment strategy. Those of us working in the industry understand that insurance is a fantastic career choice, but we need to be much smarter in the way we recruit.”

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David Longley has joined Arch Insurance International’s (Arch) professional lines team as the new professional indemnity (PI) head, effective immediately.

Longley has more than 25 years of PI-focused underwriting experience in Lloyd’s and the company market. Before joining Arch, he had been with AXA XL since 2011, most recently as the deputy UK PI manager. He also held PI underwriting roles at ACE Group and Liberty Mutual.

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The Brunel Group has expanded its footprint in the southwest with the opening of its Newton Abbot office (pictured above).

Located at the Kingdom Business Centre on Brunel Road, the office will allow Brunel to continue building on its strong national presence, while maintaining a local, personal service, the company said. Formerly based in Bovey Tracey, Brunel said its relocation in the southwest aligns with its business plans, allowing it to service existing clients in the area while expanding its team and client base.

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