Commercial
Munich Re to cut 900 jobs as reinsurer targets profits surge in 2018
Munich Re is to axe 900 jobs as part of cost saving efforts in its reinsurance business.
Blog: Medical hope for mesothelioma patients and asbestos insurers
Possible mesothelioma treatment will require a new approach to asbestos claims, explains Ian Harvey, head of claims strategy at Pro Global.
Blog: 'Beast from the East' hits farms hard
The 'Beast from the East' has killed sheep, stopped milk collections and destroyed farm buildings. Graham Plaister, loss adjuster at Agrical, describes the tempest of claims blowing through the sector.
Mark Collins replaces Robin Challand as CIO at Ageas
Mark Collins is to replace Robin Challand as chief information officer at Ageas following Challand’s appointment as claims director at the company in January of this year.
Canopius appoints Davison and Meyer to COO and CFO after buyout
Canopius has named Laurie Davison as group chief operating officer and Nigel Meyer as group chief financial officer.
Loss adjusting and insurtech gains fail to stem Charles Taylor profit decline at full year
Well-publicised gains in Charles Taylor’s loss adjusting and insurtech arms saw revenues jump 25% in 2017 but failed to push the insurance services provider to profit.
NMU to close Letchworth office in restructure
Munich Re service company NMU is closing its Letchworth office in a restructure of its Southern Region operations.
Motor premiums climbed by over 10% in 2017
Premiums for all types of motor insurance increased in Q4 2017.
Blog: How insurers can support mental health in the workplace
Insurance can help mitigate the economic impact of poor mental health in the workplace, but policy design must adapt to meet the challenge, argues Michael Ryley, partner at Weightmans.
Saffron acquires Hertford-based broker Continuum
Broker Network-owned Saffron Insurance has acquired Hertford business insurance broker Continuum.
Cost of motor claims hits highest ever level
The cost of motor claims has climbed to the highest level on record, the ABI said. However, claimant solicitors say the numbers don't paint the whole picture.
Analysis: A healthy mind: Providing mental healthcare in PMI
More medical insurers are including mental health as standard in their policies but there could remain a gap in provision if condition monitoring doesn’t become more widespread
This week: The consequences of buying big
By far the biggest purchase I ever made was when I bought my house.
Blog: Beast from the East opens the valves for escape of water claims
The 'Beast from the East' and storm Emma have caused a surge in escape of water claims, notes Clive Nicholls, UK and Ireland CEO of Crawford & Company, urging the insurance industry to unite to promote preventative measures.
Burford Capital to set up insurance company in Guernsey
Investment management firm Burford Capital has received outline approval to set up an insurance company in Guernsey.
Beazley to step down as LMG CEO
London Market Group CEO Chris Beazley is to step down in the summer of 2018.
Blog: Young women, jump at an insurance career
As we mark International Women’s Day 2018, Angela Darling, group risk and compliance director at Complete Cover Group, feels the insurance industry has come a long way towards accepting women onto boards in the last 40 years.
Blog: Letting agents, beware of an energy shake-up
No stone is being left unturned by the government in its aim to make renting fair and reasonable. Marc Brewer, underwriting manager for professional risks, Tokio Marine HCC, says it could prove a tough year for the letting industry.
Blog: Non-damage business interruption comes ashore
Non-damage business interruption has long existed in the maritime sector and could come ashore for companies looking to protect themselves, especially from cyber risk, explains David Williams, underwriter at The Strike Club.
Axa-XL deal puts both insurers' ratings under review
The major rating agencies have unanimously taken rating actions on both Axa and XL Group following the recent announcement that the French insurance giant is looking to acquire 100% of the specialty insurer.
Interview: Andy Homer, former Towergate CEO
Industry veteran Andy Homer talks to Ryan Hewlett about life after Towergate, the insurtech world and why Brexit represents an open door for the canny Angel investor.
Blog: The race to the GDPR finish line is on – but don’t lose sight of the customer
2018 presents some big challenges for the motor insurance sector, not least of which is the General Data Protection Regulation. James Roberts, business development director for insurance at Europcar UK Group, believes partners can help insurers here.
Alpha Insurance in liquidation, blames CBL
Alpha Insurance has placed itself into solvent liquidation as a “direct consequence” of the failure of CBL Insurance.
Axa can do what Catlin could not: XL CEO
An XL Group under Axa would provide the Bermuda-based specialty insurer with the scale and competitive edge that it failed to achieve from the landmark Catlin acquisition, XL’s CEO said.