News
Hastings GWP up 19% as firm boosts 2012 customer numbers
Hastings saw a 19% increase in gross written premiums placed by the group in 2012 - up to £423m from £355m the previous year.
India's banks may need subsidiaries to sell insurance
Banks in India might need to set-up subsidiaries to sell insurance according to a source at the Insurance Regulatory Development Authority.
Indian insurers allowed to make alternative investments
The Indian regulator has ruled that insurers can broaden their allocation of assets into alternative investment funds.
Property premiums grow 16% in China
China's insurance market grew 3.5% in January and February spurred by growth in property insurance.
Bought By Many collaborates on diabetes travel policy
Bought By Many has launched a travel policy for people with diabetes through a partnership with Free Spirit Travel Insurer.
Allianz recruits property underwriter manager from AIG
Allianz Commercial has appointed Anneke Sims to the position of manager, property underwriter.
Crawford launches smartphone app
Crawford Global Technical Services has launched a mobile app that enables insurers, reinsurers, brokers and corporates to search for and appoint the loss adjuster of their choice.
Eqecat appoints new president after Keogh exit
Paul Little has been appointed as president of catastrophe modelling firm Eqecat.
NFU Mutual profit recovers despite £68m in weather claims
NFU Mutual has reported a sharp rise in profit in 2012 to £330m compared to a 2011 loss of £47m despite a 55% fall in underwriting profit to £47m (2011:£105m) after amassing weather-related claims of £68m.
Portuguese insurers expected to ramp up corporate debt investments
Portuguese insurers are expected to invest more in the corporate debt market amid improved economic stability and a decline in sovereign bond yields, according to Reuters.
DLG's Paul Geddes received £760 000 bonus in 2012
Paul Geddes, Direct Line Group chief executive, received a £760 000 bonus in remuneration for his performance during 2012.
Italian lender to put insurance business on the chopping block
The director general of Italian lender Banca Carige has said it could sell its insurance businesses and property in a bid to plug an €800m euro hole in its capital base.
Appeal court affirms Hillsborough secondary victim claim ruling
The Court of Appeal has revisited a 1992 Hillsborough ruling concerning secondary victims of psychiatric injury and re-affirmed that existing limitations should be applied unless Parliament intervenes, in a move that spells good news for insurers.
GDV asks for relaxing of green investment rules
German insurers want regulators to ease rules restricting their ability to invest in renewable energy and infrastructure, according to trade body GDV.
Axa uses £250k investment to boost community broker offering
Axa Commercial Lines and Personal Intermediary has increased the number of account managed brokers at its Bolton national trading centre from 100 to 1000 following £250 000 investment.
Talanx targets net income of over €650m in 2013
German insurance giant Talanx saw earnings before interest and taxes reach €1.8bn in 2012, up 42% on the previous year.
RSA seeks to improve customer services with new role
RSA has appointed John Elliott to the newly created role of personal lines customer services director.
Truell among bidders linked to Co-op sale
Mark Summerfield, managing director of The Co-operative Insurance, has said the planned sale of the general insurance business is “entirely in line with the group’s strategy” to build a “compelling competitor in high street banking that customers will…
Marsh's new 'Flood Mu' model tipped as likely SoP replacement
A mutualised solution to flood risk has been tipped as the new favourite to replace the Statement of Principles this summer, however a free market could be introduced while legislation is drawn up ahead of the model’s launch.
The Co-operative reveals plan to do away with GI business
The Co-operative Group has today signalled its intention to sell its general insurance business.
India set for strike over premium hike
Transport association in India unhappy over a rise in third party insurance premiums.
Bangladesh insurer attracts foreign direct investment
The International Finance Corporation has bought a 10% stake in Bangladesh insurer Green Delta after the government opened up the market to foreign investors.
Aviva's profits in Singapore grow 27%
Aviva Singapore saw growth in premiums and profits in 2012.
Liability losses hit Ecclesiastical’s combined ratio
Ecclesiastical’s group combined operating ratio has deteriorated for a second year by three percentage points to 108.5% in 2012 (2011:105.5%, 2010:102%). This was against an underwriting loss of £24.6m (2011: £18.7m), which the insurer said it was due to…