News
Sian Fisher announced as CII CEO
The Chartered Insurance Institute has named former Arthur J Gallagher chief underwriting officer Sian Fisher as its new CEO.
HDI Gerling unveils new name
HDI Gerling Industrie Versicherung has rebranded to operate under the name HDI Global SE with immediate effect.
Flood victims given £24m by insurers in emergency payments so far
Insurers have forked out almost £24m so far on emergency payments to families and businesses effected by the floods caused by storms Desmond, Eva and Frank during December and over the New Year.
Principal snaps up second motorcycle book in quick succession
Manchester based Principal Insurance has acquired the motorcycle book of Simply Insurance in a deal that has been completed just days after the acquisition of a similar book from iGO4 Partners.
NZ$115m of New Zealand catastrophe insured losses in 2015
Natural disasters cost insurers in New Zealand NZ$115m (£52m) last year down from NZ$153m in 2014 according to the Insurance Council of New Zealand.
IAG used drones to help assess Victoria bushfire damage
Australian insurance giant IAG is using drones to help assess damage from bushfires for the first time.
A$60m of claims from Western Australia bushfires, says ICA
There has now been an estimated A$60m (£29m) of claims from bushfires in Western Australia according to the Insurance Council of Australia.
Axa moves 35 finance roles to India resulting in 33 UK redundancies
Axa has made 33 staff at its Lytham St Annes office in Lancashire redundant after a decision to move 35 credit control roles to Pune, India.
Capital capacity remains in reinsurance market as Solvency II hits
Excess capacity in reinsurance will continue through 2016 with European companies already factoring Solvency II into their buying strategies, according to analysis from Guy Carpenter.
Acquisition gives Aston Scott its 13th office
Aston Scott has completed its acquisition of Essex-based First Commercial today (8 January)
Fresh direction for Norwegian Hull Club as new CEO takes the reins
Marine insurer Norwegian Hull Club’s new CEO Faz Peermohamed will review the club’s offering in a bid to identify new opportunities.
Industry facing 108% COR for 2015 as floods wreak havoc on home profits
Insurers’ profitability for home insurance in 2015 has been put into freefall by the intense period of wet weather in December, with combined operating ratios for the year estimated to have deteriorated 16 percentage points to 108%.
Thousands of policyholders see refund from Iceland-based Eric
More than 2600 customers of the failed Iceland-based insurer European Risk Insurance Company (Eric) have received premium refunds from the Financial Services Compensation Scheme.
MSIG-led D&O consortium offers £51m line size in 2016
MSIG at Lloyd's is to provide a commercial directors' and officers' liability line size of $75m (£51.3m) through the Mitsui Sumitomo Insurance Group-led excess D&O consortium at Lloyd's in 2016.
Quiz of the week - 8 January
Test your knowledge of the week's insurance news with the Post insurance quiz of the week.
Detail on AIG strategy to be revealed
AIG will provide a strategy update and release its fourth quarter results on 26 January, following a number of cost-cutting measures last year in a bid to save up to $500m (£341m).
Ace announces future Australia management team
Ace has announced the leadership team in Australia once the acquisition of Chubb is completed.
Henderson poaches Bluefin exec Robinson to head Harrogate office
Leeds-based broker Henderson Insurance Broking Group has opened a new Harrogate office, taking its total national network to 14 offices.
FCA head McDermott out of running for top job
The Financial Conduct Authority has confirmed Tracey McDermott had ruled herself out of the top job at the regulator, following comments by Chancellor George Osborne today (7 January).
Covéa confirms completion of Sterling integration
Sterling Insurance is no longer a separate trading entity having formally integrated into Covéa Insurance on 1 January 2016.
IUA sets up D&O group for company market underwriters
The International Underwriting Association has established a London company market group for directors' and officers' underwriters.
Ifed inquiry leads to jail time for income protection fraudster
A 28-year-old man has been jailed for more than three years after he attempted to defraud two insurance companies out of £97,824 for lost income for a job he never had due to an illness he falsely claimed to be suffering from.
Aviva investigation puts brakes on party bus claimants
Aviva has successfully quashed attempts by passengers on a double-decker ‘party bus’ to erroneously claim more than £250,000 for whiplash injuries supposedly caused by a minor collision.
UK floods to 'significantly weaken' 2015 earnings, says Fitch
Ratings agency Fitch said the impact from recent flooding in the UK could weaken earnings for some firms and take the year combined ratio above 100%.