Articles by Mark Sands
Admiral Q3 turnover drops despite 10% increase in customer numbers
Admiral has seen group turnover decrease 3% to £513m in spite of a 10% increase in the insurer’s total number of customers, which reached 4.03m in Q3.
RSA continuing UK motor withdrawal
RSA is continuing a drive to shrink its UK motor business, according to UK commercial lines managing director John Hancock, who told Post the insurer is constantly evaluating its pricing strategy.
IMD II heads for European Parliament negotiations
The second edition of the Insurance Mediation Directive is to head for the European Parliament for negotiations over adoption following approval from the European Council.
Munich Re hikes 2014 profit forecast beyond €3bn
Munich Re is confident it will now exceed a forecast full year profit of €3bn for 2014 following strong performance in Q3.
First Central joins Biba
Motor broker First Central has joined the British Insurance Brokers’ Association, the trade body has announced.
Beazley premiums remain flat, despite 1% rate reductions
Specialist insurer Beazley has maintained premium levels after the first nine months of the year, despite noting continued pressure of rates.
RSA notes ‘weak’ underwriting performance as premiums fall 9%
RSA has noted “weak” overall underwriting performance in Q3, with UK loss ratios coming in at higher than expected levels.
Cheesegrater cordoned off after steel bolts break
Two steel bolts have broken on London’s Cheesegrater building, home to Aon and Amlin, among other insurance businesses.
Insurance industry distances itself from disgraced former Swinton execs
Axa has denied that former Swinton director Nick Bowyer has ever been an employee of its appointed representative Drivology after he was censured by the Financial Conduct Authority.
No plans for Ageas Retail redundancies ‘at the moment’ says Watson
Ageas UK CEO Andy Watson has said the insurer has no current plans for redundancies in Ageas Retail as the insurer seeks to make cost savings across its intermediary business, though he conceded it remains too early to be certain.
Flood defence spending ‘insufficient’ says Audit Office
Spending on flood defences is insufficient to meet needs for maintenance according to a report from the National Audit Office.
Hyperion and RK Harrison in exclusive merger talks
Hyperion has entered into exclusive talks to acquire RK Harrison over a potential merger, creating a broker described as “the pre-eminent international and UK retail distribution network”.
Esure motor Q3 motor GWP down 9% after rate battles
Esure has reported a year-on-year 8.8% decrease in motor gross written premiums for Q3 as the insurer seeks to secure increased rates from policyholders.
Ageas profits down on 2013 despite improved Q3
A leap in Q3 profits has not proved enough to return Ageas' profits to 2013 levels, as the insurer continues to recover from substantial storm claims in the first quarter of the year.
ABI clarifies rate tracking method after posting incongruous Q3 motor prices
ABI figures out of step with those produced by The AA and Towers Watson
Experts reveal ‘significant’ links between insurance fraud and terrorism
Met commissioner says one-third of counter-terrorism policing is fraud-related
Kennedys CEO Stobart to step down
Law firm Kennedys has announced that CEO Guy Stobart has resigned after five years leading the firm.
Market Moves - 6 November 2014
All the latest job moves in the insurance market.
Aon Benfield swoops for Adriatic reinsurance broker
Aon Benfield has purchased a Greece and Cyprus focused reinsurance broker, recruiting 11 local staff in the process.
L&G GI quarterly premiums inch beyond £100m for the first time
L&G has reported quarterly general insurance premiums of more than £100m for the first time.
Axa retains top spot in Brokerbility satisfaction survey
Axa has once again been ranked highest in a bi-annual satisfaction survey of Brokerbility members.
JLT CEO Burke ‘cautious’ despite accelerating US specialty spending
JLT CEO Dominic Burke has expressed caution over the broker’s full year performance, despite announcing plans to step up its spending into newly launched US business JLT Specialty, accelerating previously planned spending into this year.
Zurich bringing commercial claims process in line with Insurance Bill ahead of legislation
Zurich is to adopt the Law Commission's recommendations on the new Insurance Bill before it is formally adopted as law ahead of the next election.
Coach crash fraudsters jailed over £150k injury scam
Three Liverpudlian fraudsters have been jailed over a scheme to fraudulently claim £150 000 for personal injuries after deliberately causing a crash between a coach and a car while on a journey to a Manchester dog track.