Commercial
Aon blames "economic conditions" for 11% drop in UK revenue in Q3 2010
Aon has reported that its UK broking business recorded a 11% drop in commission and fees in the third quarter of 2010 to $148m (£92.7m) (Q3 2009: $167m) with an 8% downturn in organic revenue.
Post Europe View from the Top: The impact of the financial crisis on the Spanish D&O insurance sector
The financial crisis and the resulting economic complications in Spain have caused a sharp increase in the number of directors’ and officers’ liability insurance policies taken out.
View from the Top: The impact of the financial crisis on the Spanish D&O insurance sector
The financial crisis and the resulting economic complications in Spain have caused a sharp increase in the number of directors’ and officers’ liability insurance policies taken out.
Allianz: by 2020 a fifth of our customers will be on "very low income"
By 2020 a fifth of the people insured by Allianz will come from a very low income.
Allianz: by 2020 a fifth of our customers will be on "very low income"
By 2020 a fifth of the people insured by Allianz will come from a very low income.
Ace CEO Greenberg ups full year forecast after "positive" progress in 2010
Ace Insurance Group has reported $14.9bn gross written premium for the nine months ended 30 September 2010 compared with $14.7bn last year.
XL names Hendrick as strategic growth head
XL Group has appointed Gregory Hendrick as executive vice president, strategic growth, effective immediately.
Ace CEO Greenberg ups full year forecast after "positive" progress in 2010
Ace Insurance Group has reported $14.9bn gross written premium for the nine months ended 30 September 2010 compared with $14.7bn last year.
ABI backs call to remove single renewal date for solicitors' PI
The Association of British Insurers has welcomed today’s publication of an independent report on the need for changes to the solicitors’ professional indemnity insurance market.
Oxygen adds senior brokers to its ranks
Oxygen Insurance Brokers has added to its construction professions team with the appointments of Andrew Swan and Andrew Palmer from Aon.
Moody's outlook on the German insurance sector remains negative
The outlook for the German insurance market remains negative due to the continued rate pressure in property & casualty lines, particularly in motor insurance, and the low interest-rate environment pressurising the profitability of life products with…
Moody's outlook on the German insurance sector remains negative
The outlook for the German insurance market remains negative due to the continued rate pressure in property & casualty lines, particularly in motor insurance, and the low interest-rate environment pressurising the profitability of life products with…
IAG UK acquires second commercial broker with NBJ swoop
IAG UK-owned broker Barnett & Barnett has almost doubled its size to £50m gross written premium, with a move for a controlling stake in Bromley-based commercial and personal lines specialist NBJ.
RSA extends outsourcing deal with Accenture until 2015
Accenture has signed an extension to its application outsourcing, systems integration and management consulting agreement with RSA for an additional three years through 2015.
Novae teams up with Lloyd's broker to launch new MGA Gladstone
Lloyd's broker Besso Group has launched a managing general agent named Gladstone Underwriting, to provide an online commercial underwriting facility.
Axa third quarter GI result boosted by 35% increase in UK motor reveune
Axa group this morning reported that property & casualty revenues increased by 0.7% to €21.4 bn (£18.7bn) largely as a result of a 3.9% growth in individual lines (largely driven by a 3.4% average price increase).
Aspen hit by reserve strengthening in financial and professional lines
Aspen has announced that its insurance segment recoirded an underwriting loss for the third quarter, which excludes investment income, of $13.4m £8.5m) compared with an underwriting profit of $20.9m in the third quarter of 2009.
Willis Group nine month profit remains static at $357m
Willis Group has reported net income from continuing operations for the nine months ended September 30, 2010 was $357m ($226.4m), compared with $357m, in the same period a year ago.
AIG announces succession plan for CEO role
AIG has announced that chairman, Steve Miller, would step in as interim CEO of AIG for as long as it takes to identify and select a long-term replacement, if the incumbent Bob Benmosche is unable to continue in the role.
Axa third quarter GI result boosted by 35% increase in UK motor reveune
Axa group this morning reported that property & casualty revenues increased by 0.7% to €21.4 bn (£18.7bn) largely as a result of a 3.9% growth in individual lines (largely driven by a 3.4% average price increase).
Aspen hit by reserve strengthening in financial and professional lines
Aspen has announced that its insurance segment recoirded an underwriting loss for the third quarter, which excludes investment income, of $13.4m £8.5m) compared with an underwriting profit of $20.9m in the third quarter of 2009.
Willis Group nine month profit remains static at $357m
Willis Group has reported net income from continuing operations for the nine months ended September 30, 2010 was $357m ($226.4m), compared with $357m, in the same period a year ago.
Hiscox offers charities cover
Hiscox has launched a combined charities insurance product designed to take advantage of what it describes as a "gap in the market."
Sagicor eyes SME after Josephs hire
Barbados-based insurer Sagicor is targeting growth in the UK's SME space after recruiting MMA Insurance's former head of distribution Ian Josephs to launch a range of web-based products.