Commercial
One insurance scam seen every minute in 2017
Over half a million attempts at insurance fraud were detected in 2017, equivalent to one fraud every minute.
Hannover Re names Swiss Re's Henchoz to replace CEO Wallin
The CEO of Hannover Re, Ulrich Wallin, is to step down and retire from the reinsurance giant in 2019 and will be replaced by Swiss Re’s Jean-Jacques Henchoz.
Japanese flood losses pegged at $4bn
Insured losses from the June and July flooding in western Japan could total up to $4bn (£3.2bn), according to catastrophe modelling firm Air Worldwide.
Zhong An eyes international expansion with latest Softbank investment
Zhong An will look to expand its business outside China, following an undisclosed investment in subsidiary Zhong An International by Softbank’s Vision Fund.
Lloyd’s managing agents call for greater ILS use
Some 80% of Lloyd’s managing agents would like to see insurance-linked securities become a permanent fixture in the reinsurance and insurance market.
Top 30 European insurers 2018: A year of steady growth for insurers
Overall, top-line growth for the 30 largest European insurers has been steady, reflecting the underlying economic conditions throughout Europe, explain Tim Prince and Yvette Essen, director of analytics and director of research at AM Best
Insurtech sees its Facebook chatbot pilot flop
US-based start-up Next Insurance has found that its SME customers are not interested in buying insurance through a Facebook chatbot.
This week in Post: Washouts and windfalls
When you head off to an outdoor festival following a heatwave, you cross your fingers and hope the sun sticks around. Unfortunately it seems like the recent tropical spate has done a runner and I spent last weekend trying not to roll down a hill while up…
ERS sees best first half profit performance in five years
Specialist motor insurer ERS has reported its highest first half profit performance in five years.
FSCS has paid out £104m to failed insurer Enterprise customers
The Financial Services Compensation Scheme has paid out £104m in compensation to customers of collapsed unrated insurer Enterprise so far.
Northern Irish hub acquisition pushes GRP’s GWP over £700m
GRP hub Abbey Bond Lovis has acquired a majority share in Northern Irish broker Digney Grant for an undisclosed sum.
XL Catlin's Nicola Harris on why insurers need to change their approach to the energy sector
Challenging times for the oil and gas industry call for a change in the way insurers address energy risks, writes Nicola Harris, head of energy for Europe, Middle East and Africa at XL Catlin.
Blog: Got your A-level results? Check out insurance apprenticeships
On A-level results day, Carmen McDonagh, operations director at Complete Cover Group, urges school leavers to consider an insurance apprenticeship.
UK becomes EU capital of private equity-backed insurance M&A
The UK has seen 28 private equity deals in insurance over the past 18 months, half of total number in Europe.
JLT Specialty's Hamish Roberts on why insurers must continue insuring coal
The pressure on insurers to deny coal projects any form of cover may actually increase pollution, warns Hamish Roberts, head of JLT Specialty’s London-based power business.
Esure receives £1.17bn takeover bid
Esure has received a takeover bid which would see the insurer valued at £1.17bn.
FSCS arranges alternative cover for Alpha policyholders
UK policyholders with failed Danish insurer Alpha have been provided alternative cover via the guarantee scheme.
Broker Network makes seventh ‘powerhouse’ acquisition
Broker Network has bought North West broker MCM, which will form the company’s seventh “regional powerhouse”.
Analysis: Gig economy: The big gig ruling
The Supreme Court ruling in Pimlico Plumbers, granting employment rights to a gig worker, might lead to an increase or a shift in liability claims. But it also opens up a door for new products as gig economy platforms will want to cover their new…
Policyholders face huge premium hikes following April UK withdrawal
Exclusive: Vulnerable customers with serious illnesses who have claimed under their existing private medical insurance policies, are seeing premiums more than double following the withdrawal of April UK from the PMI market.
Zurich weathers H1 storm claims and returns to profit
Zurich UK has seen operating profit rise 24% in H1, as a focus on commercial enabled the firm to avoid huge weather losses seen elsewhere.
Analysis: Cyber terrorism: A ticking digital bomb?
Cyber terrorism is still very much a hypothetical threat but, with governments investing in cyber security to foil attacks, it’s a risk that insurance markets are watching closely
AIG appoints new Europe CEO
Aspen Re’s CEO Thomas Lillelund has been appointed CEO of AIG Europe SA, subject to regulatory approval.
Insurers under fire over climate risk reporting
Three insurers have been reported to the FCA and could face fines for allegedly failing to disclose information which they are “legally obliged to report”.