Articles by Chris Wheal
Homeserve expands mis-selling review
Homeserve is to revise its direct marketing materials as part of its mis-selling review. The materials are due to be sent out in the New Year.
Novae reiterates 60% loss ratio target
Novae has reported its gross written premium for the first nine months of 2011 was up 9% to £516.4m, up 9% (2010: £473.3m).
Zurich reports 'worst year since Katrina'
Zurich branded 2011 ‘the worst year since Hurricane Katrina’ as it reported a 12% slump in general insurance operating profit for the nine months so far, which was down to $1.73bn from $1.97bn last year.
Crawford’s fraud buster Gracey quits
Crawford fraud boss Bobby Gracey, has resigned from the loss adjuster to become chief executive of Glasgow-based International Fire Investigators & Consultants.
Car premiums need cross-ministry view
A group of MPs has called on the government to establish a cross-ministry committee to tackle rising motor insurance premiums.
Markel reports 105% COR on nat cats
Markel said its combined ratio was 100% for the third quarter of 2011 compared to 93% for the third quarter of 2010 and was 105% for the nine months ended September 30, 2011 compared with 99% for the same period of 2010.
Profits nosedive at Munich Re
Munich Re announced its third quarter operating profit was down 88% to €402m (2010: €3.4bn) and its consolidated profit was down 96% to €80m (2010: €2bn).
JLT struggles in European markets
Broker JLT said its overall trading performance is in line with expectations but warned that European markets had been challenging and rate remained weak.
Crawford’s nine-month income up 203%
Crawford has announced net income in its third quarter grew 18% to $15.3m (2010: $12,9m), taking the year to date’s net income to $40.9m, up more than 200% on the previous year’s $13.5m.
Bowler is top City insurance woman
DWF partner Claire Bowler has beaten off the competition to win the Insurance category for the 2011 Women in the City Woman of Achievement Award.
QBE Canada names underwriting boss
Commercial lines insurer QBE has named Valerie Jobson as director of underwriting in its Canadian branch.
Arista promotes Wormald in Leeds
Commercial lines underwriter Arista Insurance has promoted Neil Wormald to the position of branch manager for the North East of England in its Leeds office.
MSL opts for Financial & Legal’s LEI
MSL Legal Expenses has signed a three-year deal to sell Financial and Legal Insurance’s personal and commercial lines legal expenses insurance products to its broker networks and individual clients.
JLT buy-in overcomes next hurdle
Jardine Matheson's bid for an extra 10% of broker JLT has received nearly 60% shareholder approval and has been declared unconditional.
Hiscox cuts GWP in favour of profit
Hiscox has said its gross written premiums year on year reduced in the first nine months of the year by 3.0% to £1,169.5m (2010: £1,205.3m) as the group maintained underwriting discipline and walked away from poorly rated risks.
Ecclesiastical drops schemes duo
Ecclesiastical is ditching its schemes and affinities director Tony Bloomer, and its national scheme manager, Hazel White, and integrating its schemes business into its regional network.
Mondial Assistance shuffles top roles
Mondial Assistance’s UK CEO Mike Webb is to relinquish the role and become non-executive chairman, with UK Managing director Serge Corel, taking the CEO role.
Swiss Re reports 118% net income rise
Swiss Re reported a 118% increase in net income in its third quarter to $1.3bn (2010 $0.6bn).
RSA’s pet and household replace motor
RSA has reported UK personal lines Q3 net written premiums were up 13% to £1 036m, with commercial lines up just 2% to £1 282m. Overall the UK was up 7% to £2 318m.
Aviva claims UK rise makes it market leader
Aviva claimed UK general insurance sales increased 12% over the first nine months of the year making it “the general insurance market leader in the UK”.
Post Blog: Brit and Windsor join RBSI in PE rumour mill
Private equity interest in the UK insurance sector has prompted a week of wild speculation, including an alleged £4bn bid for the insurance operation of part-nationalised bank RBS from PE house CVC.
SFO opens helpline for business fraud
The Serious Fraud Office has launched an SFO Confidential hotline to encourage whistleblowers to report suspected fraud or corruption within their companies.
Cooper Gay supports parametric cover
Cooper Gay’s Latin America CEO Steve Jackson has said catastrophe insurance could be simplified in developing countries by using parametric insurance – paying out on pre-agreed triggers rather the assessing damage. ther the assessing damage.
L&G reports 7% Q3 rise in GI GWP
Legal & General reported third quarter general insurance gross written premiums of £221m, £15m (7%) up on the same period last year.