Commercial
Zurich warns firms to tackle rising levels of workplace stress
Stress levels, low morale and staff absence look set to continue to negatively impact the workplace unless the economic environment improves, Zurich has warned.
Allianz UK profit slides 4.3% to £161.5m
Allianz reported a 4.3% fall in operating profit to £161.5m in 2012 (2011: £168.7m). The insurer's combined ratio also deteriorated to 96.3% from 95.7% in 2011.
AIG income falls to $3.4bn in 2012
AIG's net income fell to $3.4bn (£2.23bn), or $2.04 per diluted share, in 2012 compared with $20.6bn, or $11.01 per diluted share, the year earlier.
Axa UK CEO "happy" with 9% commercial lines growth
The UK boss of Axa has admitted that he is “happy” with its performance in a “tricky” commercial market, although he stopped short at revealing its combined operating ratio for the 2012 financial year.
IAG to write off $260m following Equity sale to Aquiline Partners
Insurance Australia Group has announced that it recorded a loss of $182m in respect of its "discontinued" UK operations in the six months to 31 December 2012.
Europe View from the Top: Testing times for European real estate
It goes without saying that the financial crisis has had an adverse and enduring effect on the global economy.
Industry mulls Matras’ options after Ageas shake-up sees high profile exits
Past and present colleagues of Laurent Matras have paid tribute to the outgoing Groupama Insurances managing director, with one suggesting he could seek to further his career at a smaller firm in a bid for more dynamism.
RAC intermediary arm reveals growth plans after post-Aviva sale overhaul
The commercial director of RAC’s intermediary arm has outlined the firm’s plan to make up competitive ground lost under its last ownership, almost 18 months after Aviva sold RAC to private equity firm Carlyle Group for £1bn.
Scottish Independence: Scot free?
With a referendum on Scottish independence due next year, will an independent Scotland cause problems for the insurance sector, or is it business as usual?
RSA's Brown: Commercial lines needs double-digit rate strength
RSA's chief executive of UK & Western Europe Adrian Brown has claimed the UK commercial market is "broadly underpriced by 10% to 15%".
Tesco Underwriting COR fails to drop below 100%
Tesco Underwriting’s combined operating ratio has remained above 100% despite seeing net profit rise in line with where it should be, according to Ageas chief executive Andy Watson.
RSA's UK profit falls 37% as commercial losses take toll
RSA blamed adverse weather in the first half of 2012 and a weak marine and commercial liability performance on UK underwriting profit tumbling to £39m (2011: £62m) while the combined ratio was 98.2% (2011: 97.3%).
RSA increases premium by 5% and cuts dividend
RSA Group has reported operating profit of £684m (2011: £727m) for 2012 including an entirely flat underwriting result of £375m.
Besso recruits aviation boss from Gibbs Hartley Cooper
Independent broker Besso has swooped for a new head of aviation from Gibbs Hartley Cooper.
Covéa looks to extend commercial lines growth following schemes hire
Covéa Insurance has appointed former Hiscox regional manager Bill Guiney as schemes account manager.
Claims Awards 2013: Do not miss out, start your entry today
There is just under two weeks to go until the deadline for the 2013 Claims Awards (Friday 1 March), so do not waste any time if you want to be considered for these prestigious accolades.
Bruce returns to market with RSA role
Cathie Bruce has joined RSA as distribution manager, four months after leaving UK General where she was managing director of commercial insurance for just under a year.
UK General backs Chinese restaurant insurance scheme
UK General has set up a scheme with Sunderland-based broker Newton Lee to provide insurance cover to the Chinese restaurant and takeaway sector.
UK court confirms 9/11 was double reinsurance event
The Commercial Court's move to uphold an earlier legal decision that the 9/11 World Trade Center attacks arose out of two events rather than one is "of considerable interest to the insurance and reinsurance market", according to law firm Herbert Smith…
Blog: Has Biba found its valentine in Steve White?
It is now four months since Eric Galbraith announced his intention to leave the British Insurance Brokers’ Association, leading to fevered speculation about his successor.
Career file: Simon McGinn: McGinn to replace long-serving Hanks
Simon McGinn will succeed Chris Hanks as general manager of commercial at Allianz from 1 July.
View from the Top: Where is the love?
Survey peddlers should be off the Valentine’s card list as they predict doom and gloom
XL opens Manchester office
XL Group is opening an office in Manchester and has appointed Mick Turvey as regional underwriting manager, UK middle markets, to head it up.
Willis reveals $446m net loss
Global broker Willis recorded a net loss of $446m for the 2012 financial year, in stark contrast to the previous year’s $203m profits.