Commercial
Insurer estimates hit £750m as city riot damage racks up – Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories which include how RSA, Aviva and Axa are likely to incur the biggest losses from commercial property claims, based on market share, as the latest riot bill estimate hits …
Allianz commercial appoints chief casualty surveyor
Allianz Commercial has promoted Craig McLaughlin to the role of chief casualty surveyor.
FA to lose almost £1m for calling off England match
The Football Association’s decision to call off the England match against the Netherlands in light of the riots will cost them more than £900 000 in ticket sales because they failed to take out contingency insurance, according to a source close to Post.
Now Health International launches online quote facility for group IPMI
Now Health International has launched an on-line facility which it claims provides instant international health insurance quotes for up to 50 employees in seconds.
Chartis UK pulls out of writing new PI for solicitors
Chartis UK will not write any new professional indemnity business for solicitors, blaming the “continued poor claims experience” for its decision.
Join Allianz, Groupama, BMS, Novae, SSP, CII and Lancashire in signing up for the Insurance Cup
With the football leagues in England and Scotland now underway, there has never been a better time to think about dusting off the boots and signing up for The Prince's Trust Insurance Cup.
Insurance Insight August: Exclusive commercial property and captive domicile content now live
Insurance Insight August is now live with look at commercial property in the Benelux region; innovation in the captive domicile market; and an interview with Now Health International.
Insurance Insight Q&A: Martin Garcia, Now Health International
Martin Garcia has spent almost 20 years in the international private medical health market with over 10 years as managing director for Goodhealth Worldwide. As he returns to the market with his new venture as chief executive of Now Health International,…
Commercial property Benelux: the bottom of the market?
The commercial property market in Benelux remains soft but as premium hit rock bottom Sam Barrett looks to see if changes are on the way.
Argent Liability Adjusters move into bigger base in South West
Argent Liability Adjusters’ Bristol team are to move into new offices that are double the size of their current base.
Shadow Treasury minister tells Osborne to take Solvency II "more seriously"
Chris Leslie MP, shadow financial secretary to the Treasury, today called on the Chancellor to initiate higher level debate on the effects of Solvency II on UK consumers and business.
AIG CEO hails return of AIG as "an investment-grade company"
The CEO and president of AIG has heralded its Q2 financials as a sign that it is again "an investment-grade company independent of government support".
RBS Insurance Q2 COR improves to 99% and profit doubles to £139m
Royal Bank of Scotland Insurance this morning reported that its operating profit has doubled to £139m from the previous quarter and improved even more from the corresponding period last year (Q2 2010: £203m loss).
Groupama UK arm reports decline in fleet driven by taxi book
Groupama today revealed that premium income for its UK arm rose by +0.9% to €276m (£240m) at 30 June 2011.
Giles confirms redundancies may be needed to "achieve benefits" of CBG deal
Giles has today admitted that in order to achieve the planned benefits of the acquisition of CBG, some operational restructuring will be required following completion of the deal, which may lead to some redundancies.
Canopius appoints underwriters to sabotage and terrorism team
Canopius has appointed Tim Davies and Jennie Beard as underwriters to its sabotage & terrorism team.
Oval appoints three to board in restructure
Executive board members at Oval have moved quickly to explain the firm’s ongoing restructuring process amid suggestions that former group managing director Jeff Herdman had been demoted.
Swiss Re reports second quarter P&C COR of 78.4%
Swiss Re has reported a net income of $960m (£587m) in the second quarter of 2011, compared to $812m in the same period of 2010.
RSA UK personal lines result helps offset £19m commercial loss
RSA has reported a rise in UK premiums of 7% to £1570m for the first six months of 2011.
International boss Lee to succeed Haste as RSA CEO
RSA has announced that Andy Haste has advised them of his intention to step down as group chief executive after more than eight years in the role.
Credit hire: Improving the engagement
The credit hire industry has traditionally had a rocky romance with insurers. Sam Barrett looks at what has gone wrong and how the two sides can reconcile their differences.
Hiscox bemoans 'costliest year ever'
Specialist insurer and reinsurer Hiscox was stung by a pre-tax loss of £85.6m (2010: £97.2m profit) in the first half of the year but claims to be "heading towards the sunny uplands of profit".
Allianz beats Aviva and Zurich in resort deal
Allianz Commercial has landed a £200 000 three-year deal with a luxury spa resort and golf club that hosted the Ryder Cup last year.
Post Magazine – 4 August 2011
This week the Post team reports on Lloyd’s decision to begin investigating Equity syndicate’s reserve deterioration. A Names protest group says the outcome should prove influential to its own campaign over Equity’s losses.