News
RSA launches broker trading site
RSA yesterday launched its first broker trading site in Redhill, designed to give its most valued brokers the flexibility of trading face-to-face for complex risks.
Gable boosts insurance profit by 5% as COR experiences minor slide
Gable Holdings chalked up a 5% increase in its insurance profit in the first half of the year, although the firm’s combined operating ratio deteriorated by an identical proportion to 56%.
Defra outlines draft flood insurance clauses
The Department for Environment, Food and Rural Affairs has opened a consultation into the draft flood insurance clauses of the Water Bill.
Garry Fearn to step down from Covéa
Garry Fearn is to step down as Covéa Insurance executive deputy chairman from 15 September.
Insurers warned to take strategic approach to modernisation
Replacing legacy software systems is vital to better serve clients and can provide a competitive advantages but it is vital firms take a strategic approach, Michael Graham, sales and marketing director at Sequel, has warned.
Belmont Regency MD pays tribute to founder killed in plane crash
One of the founding directors of Derby-based financial advisor and broking business Belmont Regency was killed alongside his wife in a plane crash off the coast of Jersey this week.
Charles Taylor snaps up business solutions provider Knowledge Center
Charles Taylor is seeking a competitive advantage on technology products and processes after acquiring insurance industry business solutions provider Knowledge Center.
Brit expands global distribution network with Bermuda office opening
Brit is targeting an expansion of its distribution network with the opening of a Bermuda office.
Brit hires ex-Markel SVP Bonanno to head up Bermuda office
Brit is targeting an expansion of its distribution network with the opening of an office in Bermuda.
Ergo China Life targets Shandong
Ergo Insurance, owned by Munich Re, has formed a joint venture with the government to launch Ergo China Life in Shandong.
Fosun eyes state-owned Portuguese insurer
Chinese conglomerate Fosun which owns the majority of Peak Re reinsurer has been shortlisted as one of five potential buyers of the largest insurer in Portugal.
Shariah compliant MGA closing in on QBE capacity deal
The chief executive of a newly launched shariah compliant managing general agent has revealed the business is close to adding support from QBE Europe and a further “major” underwriter to existing capacity from XL.
August records Asia-Pacific $10bn flood losses
A combined estimate of $10bn of economic flood losses were recorded in China, Russia, Philippines, and Pakistan during August, according to a report by Aon Benfield.
Questgates backs CILA fraud qualification call
Specialist loss adjuster Questgates has backed a study from the Chartered Institute of Loss Adjusters which revealed demand for an industry-wide fraud qualification.
Allied World recruits Lloyd’s southern Europe boss
Allied World Europe has named Lloyd’s head of southern, eastern Europe and Africa to lead the expansion of its products and services.
Allied World recruits from Lloyd’s for business development boss
Allied World Europe has recruited Lloyd’s head of southern, Eastern Europe and Africa to lead the expansion of products and services.
CILA 2013: Insurers warned to take note of Green Deal changes
Changes to improve the energy efficiency of rental properties as part of the Green Deal could have serious implications for household insurance policies, according to Nick Young, partner at DAC Beachcroft.
Industry making progress on fraud
The insurance industry has made progress with fraud in the past two years but further improvements are still needed, a survey conducted by the Chartered Institute of Loss Adjusters has found.
Argo International swoops for Willis wordings specialist
Lloyd’s insurer Argo International has recruited Willis wordings specialist Jill Unsworth.
Lloyd's boss warns flood of investment could undermine stability of market
A flood of investment capital into structures linked to insurance could lead to instability and spark a new financial crisis if left unsupervised, according to Lloyd's chairman John Nelson.
UK heatwave sparks rise in fraudulent cancellation claims
The summer heatwave has been blamed for a rise in the number of fraudulent cancellation claims by travel insurance policyholders, according counter fraud services provider VFM Services.
Canopius H1 GWP spikes 54% after UK retail growth
Gross written premiums soared more than 50% year-on-year for the first half of 2013 at Canopius, with UK retail growth cited as key to the improvement.
Internal appointment for new Axa UK CFO
Axa Canada chief financial officer Bertrand Poupart-Lafarge has been named new CFO at Axa UK.
Guy Carpenter names PSG executive for France, Iberia and Italy
Guy Carpenter has announced Dorothée Mélis-Moutafis is to become managing director of the firm’s Property Solutions Group, taking specific responsibility for France, Iberia and Italy.