News
Evolution Underwriting names new sales co-ordinator
Evolution Underwriting has promoted Michelle Buckley-Clarke to the newly created role of sales co-ordinator.
Claims handler jailed for £39 000 fraud
A Welsh insurance claims handler was jailed for 17 months on Friday 2 August 2013 after stealing £39 000 from his employer to settle pay-day loans and drug debts.
Insurers predicted to top banks in infrastructure investment
Legal and General is predicting insurers and pension funds will be funding UK infrastructure investments in the next 10 years – not banks.
Earthquake strikes Japan; no damage reported
A magnitude 6.0 earthquake struck off the coast of Japan yesterday (4 August) but there was no reports of damage.
Huge reinsurance growth potential in Asia, says Fitch
Global ratings agency Fitch believes there is significant room for the reinsurance market in Asia to grow given relatively low insurance penetration in Asian markets.
CIRC confirms end to life insurance interest rate cap
China's Insurance Regulatory Commission has confirmed the end to the 2.5% cap on interest rate for standard life policies.
DLG wants commercial book COR to break even in 2014
Direct Line Group is aiming to improve its commercial book combined ratio to 100% in 2014, chief executive Paul Geddes told Post today.
ABI backs Home Office calls for regulation of private investigators
The Association of British Insurers has thrown its weight behind a Home Office initiative that intends to bring about the regulation of the private investigation industry.
Motor insurers overestimating Laspo benefits says Dye
Insurers are overestimating the savings likely to be achieved following the introduction of Legal Aid, Sentencing and Punishment of Offenders Act, Allianz UK chief executive Jon Dye said today.
Ageas UK boss Watson optimistic despite limited H1 profit growth
Ageas UK chief executive Andy Watson has told Post the insurer’s H1 results are in line with expectations, in spite of net profit growth almost entirely driven by the integration of Groupama.
S&P casts doubt on 2016 Solvency II implementation
An examination of the European Insurance and Occupational Pensions Authority’s assessment of the future of Solvency II by Standard & Poor’s has led to claims that “numerous hurdles remain” ahead of a planned 2016 implementation.
S&P highlights 'hurdles' in race towards Solvency II implementation
Standard & Poor’s has cast doubt on a planned 2016 implementation of Solvency II after claiming that “numerous hurdles remain” in the race to introduce the regulation.
Bluefin hires Marsh regional development director Phillips
Bluefin has appointed Rachel Phillips as business development and proposition director for its corporate division.
Tropical storm Jebi causes airport and shipping disruption in China
About 5 000 tourists have been stranded at an airport in south China's Hainan Province due to the arrival of strong tropical storm Jebi.
Simon Philpin joins Equinox Global
Equinox Global has appointed Simon Philpin as London-based senior credit analyst based.
Allianz posts 95.7% combined ratio for H1
Allianz achieved a combined ratio of 95.7% for the first half of 2013, down from 96.8% in the first six months of 2012.
Double appointment for HSB energy team
Specialist engineering and construction insurer HSB Engineering Insurance, part of Munich Re, has made two appointments to its power and energy team.
Axa hails first half growth
For the first half, Axa has reported property & casualty revenues were up 2% to €16.5bn, mainly driven by an overall positive price effect of 3% on average. Overall total revenues were up 4% to €50bn across the group.
Direct Line posts 94.6% COR in H1 after lower weather claims and expenses
Direct Line Group achieved a combined operating ratio of 94.6% for the first six months of 2013, an improvement of 6.5 percentage points on the same period in 2012.
Ageas increases profit despite underwriting losses
Ageas has increased its bottom line by 17.3% during the first half of 2013 despite household being the only core line of business making an underwriting profit.
Axa's P&C revenues remain flat in H1
Axa UK and Ireland reported a 33% rise in underlying earnings for the first six months of 2013 to £89m, compared with £66m in the first half of 2012.
9 500 claims from New Zealand winter storm
A June storm in New Zealand caused NZ$33m ($26m) of damage.
Complaints rise against Chinese insurers
There was a 54% rise in complaints against Chinese insurers in the first half of the year.
PostCast - Issue 1 - 1/8 August
The team discuss the news, features and interviews from the 1/8 August edition of Post Magazine.