News
Tracker wants insurer telematics partners
Tracker managing director Stephen Doran has called for motor insurers to form partnerships with telematics experts rather than go it alone.
Japan may provide cover for nation's Iran crude tankers
Japan's government may provide cover for tankers bringing in Iranian oil once a European Union ban on insurance takes effect in July, Reuters reported on Wednesday.
BCIS launches Risk Check
The Building Cost Information Service has launched Risk Check, an online tool to instantly check the sum insured of a commercial building.
Stable outlook for Chinese P&C sector
The outlook for the Chinese property and casualty insurance industry is stable, according to the latest Moody's market update.
IAG mulls Equity Red Star sale as experts debate motor future at Lloyd's
With Insurance Australia Group toying with the idea of selling the largest Lloyd's motor underwriter Equity Red Star, and aggregators controlling more power in this area, the days of motor in the Lloyd's market could well be numbered.
Treasury puts forward pool proposal to replace Statement of Principles
The Treasury has suggested that a limited flood pool could be funded without new money, according to Anne McIntosh MP, chair of the Environment, Food & Rural Affairs select committee.
Combined profit of 'going concern' Provident and sister MMA reaches £4.5m
MMA and Provident's final sets of individual annual results published before their anticipated merger reveals a combined pre-tax profit of £4.53m for the year ending 31 December 2011.
Editor's comment: Slow demise or new dawn?
Six years ago, the Lloyd's Motor Underwriters Association was subsumed into the overall Lloyd's Market Association – a clear signal that a once powerful force in the car insurance arena had accepted its heyday was long behind it.
Tokio Marine Europe up nearly a quarter
Tokio Marine Europe has reported a turnover increase for 2011 of nearly 24% to £14.5m (2010: £11.7m), with operating profit leaping to £694 177 (2010: £118 622).
Yang Minsheng appointed chairman of China Life
China Life Insurance Group appointed Yang Mingsheng as chairman and executive director at its annual general meeting yesterday.
2012 British Insurance Awards shortlist revealed
Today Incisive Media insurance division editor-in-chief Jonathan Swift is proud to unveil the shortlist for the 2012 British Insurance Awards.
Motor book drives MMA leap in profits
MMA has reported a significant growth in profit after tax to £6.36m (2010: £1.14m) in its final set of annual results before it merges with Provident under the new Covea Insurance brand in September
Canopius shakes up UK property facilities underwriting team
Lloyd’s insurer has revamped its UK property facilities underwriting division with a string of new hires.
Hampden Underwriting posts a loss but vows to raise cash
Hampden Underwriting has posted a net loss of £387 000 (2010: £132 000) in its full year results citing last year’s catastrophes as the cause but the chairman has pledged to raise capital.
Vienna Group posts 6% increase in pre-tax profits for Q1
Vienna Insurance group built on strong full year 2011 results with a 6% increase in pre-tax profits to €151.4m in the first quarter of 2012.
Towergate’s McEwan heads to Giles
Following 10 years at Towergate, Giles has poached Alan McEwan to take on the role as regional managing director for Scotland and Northern Ireland.
CNA launches new transport and logistics product
CNA Insurance has unveiled a transport and logistics package aimed at fitting the specific risks and exposures of its clients.
Ace promotes Homan as Stibbards retires
Ace Group has named Mark Homan as executive vice president, casualty, for the insurer’s international insurance operations, from 1 July, 2012.
Euler Hermes and Mapfre enter credit joint venture
Allianz-owned credit insurer Euler Hermes and Spanish insurer Mapfre have agreed a 50/50 joint venture to develop their credit insurance business in Spain and four Latin American countries.
Faraday to use Agencyport platform
Faraday Group has selected Agencyport Software to provide a centralised platform to track and manage its delegated underwriting authority business.
Money Supermarket dominates Google search rankings a second time
Money Supermarket came top of the natural search rankings on Google searches for car, home and travel insurance for the second quarter running, online marketing solutions provider Gravytrain has revealed.
Xchanging targets North American growth
Business process outsourcing company Xchanging is to expand its insurance offering to the North American market.
Solvency II setbacks taking toll on insurer budgets
Rising numbers of insurers believe the industry will miss the January 2012 compliance deadline for Solvency II, according to a survey conducted by the Economist Intelligence Unit on behalf of Deloitte.
World Cup and Olympic fever fuels Brazil's general insurance growth
The 2014 FIFA World Cup and 2016 Olympic Games are proving to be catalysts for the growth prospects of Brazil's general insurance sector.