Commercial
Groupama UK CEO eases sale concerns with "terrific" results
Groupama UK chief executive Francois-Xavier Boisseau has declared himself "delighted" with his firm's performance after recording a pre-tax profit increase of 84% to £43.5m last year across combined operations.
Cobra to cut costs in holding company
Retail and wholesale insurance broking group Cobra is to continue to focus on core revenue areas while carrying out a cost reduction programme in relation to its holding company and overhead costs in order to reflect the smaller size of its operating…
Groupama targets commercial e-trading push with trades launch
Groupama has revealed its intention to corner the commercial e-trading market with the launch of its 'miscellaneous trades' facility for Optima Business Plus.
Solvency II will not spark relocation, says Fitch
Solvency II is unlikely to lead to a wave of European insurers moving their headquarters out of Europe because of third-country equivalency concerns, Fitch Ratings has said.
Groupama CEO blames Greek debt crisis for £1.5bn net losses
Groupama chief executive Thierry Martel has blamed "adverse market conditions" on huge capital losses, attributing the group's net result of a loss of almost €1.8bn (£1.5bn) to the Greek debt crisis.
Insurance bosses invited to discuss common standard for telematics
Executives from some of the UK's biggest insurance firms will sit down next month to discuss the formulation of a common standard for issues surrounding telematics data ahead of an expected boom in demand.
In Series Emerging Markets: Asia has the right ingredients
Asia has all the key elements for an emerging market, with a number of countries in a vast and diverse area at various stages of development. How can insurers crack this market?
Ancillary income still under scrutiny, despite boost to Admiral profits
After easing the pressure built up during a bodily injury claims-ravaged third quarter, bosses at Admiral have been warned that this year's hot topic of ancillary income could yet provide a sting in the tail.
All in the execution: Interview with Zurich's Stephen Lewis
Having "fixed the fundamentals" and realigned Zurich into three distinct divisions, Stephen Lewis is now seeing his plans come to fruition. So where does he go from here?
Aon and Axa team up to provide PI policy to IFAs
Aon Risk Solution and Axa Commercial Lines bosses have finalized an exclusive agreement to provide professional indemnity insurance for independent financial advisors in the UK.
Airmic teams up with Cost Advocates
Airmic has chosen costs law specialists Cost Advocates to provide its members with help reducing legal costs expenditures.
LAS completes first acquisition since Gresham-backed MBO
LAS Claims Management has completed its first acquisition since its private equity-backed management buyout from Lanes Group Plc in 2010.
Willis appoints Bellone MD of European capital markets
Willis Group Holdings has named Andrea Bellone as managing director in the European team of Willis Capital Markets & Advisory, effective immediately.
Mapfre expects 6% revenue increase in 2012, as 2011 rises 3.2%
In 2011, Mapfre achieved a net result of €963m, a 3.2% rise on the 2010 full year results.
US targets insurers of Iran deals
Companies that insure trade with Iran would be cut off from the US financial system under legislation aimed to further target Tehran's nuclear programme.
Insurers face £72m Australian flood losses
Insurers are anticipating losses of £72m and at least 5000 claims from the Australian floods, according to Risk Management Solutions.
Talent poll
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Direct Line Group reviews loss adjuster panels
Direct Line Group has asked loss adjusters on its current panels to submit new prices for work ahead of the existing contracts expiring in July.
In Series: Emerging Markets - MENA means business
Despite growing competition in the Middle East and North Africa from local providers, there are still opportunities for foreign insurers in the market
County Insurance boss lines up early acquisition delivery
Ambitious north west broker County Insurance could be in line to deliver on its five-year plan of landing ten acquisition targets ahead of schedule, with two early purchases expected to be tied up within two months.
Aviva eyes commercial improvements by dropping underperforming lines of business
David McMillan, Aviva UK general insurance chief executive, remains confident his firm can recover from a "challenging" year in terms of commercial business, following the decision to drop a number of underperforming lines of motor business.
In Series Emerging Markets: The importance of being experts
Despite the political upheavals in the Middle East and North Africa, the thirst for self-development and raised standards has continued unabated.
View from the top: New syndicates essential if Lloyd’s market is to thrive
As Lloyd’s tackles the thorny issue of distribution, perhaps a fundamental issue is that it must encourage the market to continue to rejuvenate by enabling the creation of new syndicates.
'Sticking plaster' Statement of Principles distorts flood insurance market
The Statement of Principles was never designed to be anything more than a "sticking plaster", according to James Dalton, head of property insurance at the Association of British Insurers.