News
Direct Line anticipates profits surge at full year
Direct Line expects to report profits of approximately £610m for the year ended 31 December 2017, according to a trading statement.
‘Tidal wave’ of alternative capital to disrupt reinsurance market: Aon CEO
Reinsurance renewal rates were beaten down on 1 January by alternative capital markets, Aon Benfield’s CEO said, warning they are poised to be a major disrupter against traditional reinsurance in future.
Ex-Axa director sets up insurtech MGA for SME market
Ex-Axa boss Matthew Reed has launched an insurtech MGA targeted at SMEs.
This week in Post: Results, rumour and regulation
This week the results season well and truly got underway with big names in the UK’s insurance sector reporting back to market on how they fared over 2017.
AIG international GI unit sees $399m loss
AIG’s international general insurance business was hit by $399m (£286.5m) losses in in the last quarter of 2017, nevertheless an improvement on the $441m loss it suffered in Q3 2016.
Insurers outline framework for trade deals outside of EU
Insurers have submitted a wish list to the government of how any insurance specific trade agreement with China or India would look.
Zurich UK hit with £151m loss from Ogden
Zurich UK suffered a £151m loss on its general insurance business as a result of the discount rate cut.
Lloyd’s to cut regulatory red tape, says Hancock
Lloyd’s plans to reduce the regulatory burden on market participants as the corporation focuses on a “risk-based” approach to oversight, performance director Jon Hancock said.
Rental deposit insurtech aims to help renters improve their credit score
Exclusive: An insurtech offering rental deposit insurance is giving home renters the opportunity to improve their credit score through purchasing insurance and paying rent on time.
Allianz shows ‘preliminary’ interest in XL: report
Allianz is reportedly eyeing up XL as a potential acquisition target.
Beazley targets double digit growth for 2018
London market carrier Beazley is to target double digit growth over the next 12 months.
AA releases 2017 pre-close results
AA Insurance Services expects to deliver Ebitda of between £390m and £395m for the financial year ended 31 January, the company said in a market update.
Jacqueline Legrand appointed Brokerslink CEO
Swiss network Brokerslink has appointed Jacqueline Legrand as CEO, succeeding José Manuel Fonseca.
Ex-Aviva manager launches AI-driven chatbot app
Ex-Aviva product manager Damian Cristian has developed an Artificial Intelligence-driven chatbot app for personal insurance.
Hurricanes put Zurich's P&C segment in the red
Nat cats pushed Zurich’s property & casualty segment into the red last year, as hurricanes Harvey Irma and Maria saw the insurer report a 100.9% combined operating ratio for P&C.
Beazley sees profit fall from nat cats
Beazley saw profits fall by 43% as a result of exposure to “heavy claims” from natural catastrophes.
Government urged to publish Brexit financial services paper
The government must publish its Brexit position paper on financial services in order to assuage the “chronic state of uncertainty” at present, the chair of the Treasury Committee has warned.
Sequel appoints Rob Stavrou as chief commercial officer
Sequel has appointed Rob Stavrou as chief commercial officer following the company’s acquisition by Verisk Analytics last year.
Brit appoints Christopher Ballantyne as VP
Brit has appointed Christopher Ballantyne to the newly created role of vice president of delegated claim authority.
Gallagher makes senior promotion and appointment in small business & personal lines division
Gallagher has made a senior promotion and external appointment within its UK small business & personal lines division.
Interview: Charlotte Halkett and Darius Medora, Buzzvault Insurance
Charlotte Halkett, one of the founding members of Insure the Box, caused waves when she moved to launch an insurance business of a removals booking firm Buzz Move in September last year.
Lloyd’s adds three to franchise board
Lloyd’s has named three new figures to the franchise board.
Broker Network appoints Tony Monnington as commercial director
Broker Network has appointed Tony Monnington as commercial director.
Generali completes sale of Dutch subsidiary
Generali has completed the sale of its entire shareholding in Generali Nederland to ASR Nederland.