News
Greek Motor Guarentee Fund levy increases may see insurers withdraw from market
Insurers doing a small amount of Greek motor third party liability may withdraw from the market after the government passed a law to make changed to the Greek Motor Guarantee Fund.
PICC seeks cornerstone investors ahead of IPO
Chinese state-owned insurer PICC Group is in talks with American International Group and others to become cornerstone investors for its planned Hong Kong listing, Reuters reported.
Kiln syndicate 510 forecast to make 2011 profit
R J Kiln & Co has released updated forecasts for the 2010 and 2011 years of account for its four non-aligned syndicates as at 30 September 2012.
Esure reshuffles board with three appointments
Esure Group Holdings has appointed group finance director Andrew Whitehouse to become the insurer’s first chief risk officer.
Quake models to bridge gap in growing market
Aon Benfield has launched new Algeria and Morocco earthquake models, aimed at providing a more reliable estimation of losses insured properties face in these countries.
Biba broaches independence issue with Scottish brokers
The British Insurance Brokers' Association is talking to its members about how Scotland's insurance sector would be affected if Scottish voters choose independence in 2014.
Autonet to implement Experian credit check software
Van insurance broker Autonet is in the closing stages of finalising a deal with Experian to introduce a new credit check software to aid premium pricing and an instalment payment plan for their customers.
Zurich says German write-down is "isolated case" as BOP falls 34%
Zurich Insurance Group posted business operating profit of $733m for the third quarter, down 34% on the prior year after financial adjustments in its German general insurance portfolio.
Aspen swoops for Fusion marine underwriter
Aspen Risk Management has appointed Paul Singh as marine underwriting manager.
French insurers urged to invest in SMEs to boost innovation
A report into France's declining industrial competitiveness proposes encouraging insurers to increase investments in small to medium sized enterprises.
Credit card insurer CPP rocked by record FSA fine for mis-selling scandal
Credit card insurer Card Protection Plan has been slapped with a £10.5m fine by the Financial Services Authority for the mis-selling of insurance products.
Zurich UK results dented by 'exceptionally large' commercial claim
Zurich UK general insurance chief executive Steve Lewis has blamed adverse weather conditions for a £15m slump in business operating profit, compared to the nine month stage last year.
Aggregators audit software providers after hackers exploit SSP vulnerability
Insurance software houses have warned that hackers are becoming increasingly sophisticated in breaking through security systems, forcing businesses to engage in a "never-ending fight" to stay ahead.
Career path: Insurance industry trainees part 1
In the first in a three-part series, Post follows the career path of fictional insurance industry trainees Will Woodman and Dawn Crowley.
Market moves: Chartis and Antares dominate recruitment space
The recruitment space was dominated by Chartis and Lloyd’s insurer Antares this week. Chartis welcomed four new staff to its team, while Antares recruited an energy underwriter and two aviation specialists.
Go Compare admits future sale 'entirely possible'
The timing of Go Compare's strategic review is "no coincidence" given that the aggregator's major shareholder has a flotation in its sights, according to commentators, who have also mooted a potential management buyout or private equity deal.
Direct Group eyes US expansion following sale to Ryan Specialty Group
Direct Group chief executive Derek Coles intends to take advantage of new opportunities to enter international territories following the completion of the firm's sale to Ryan Specialty Group.
Debate on FCA regulation of CMCs reaches parliament
The Association of British Insurers received government endorsement for its proposals that claims management companies should be regulated by the incoming Financial Conduct Authority after dismissing proposed Claims Management Regulator changes as …
Ageas completes £116m acquisition of Groupama Insurances
Ageas has completed its acquisition of Groupama Insurances – less than three months after it revealed the £116m deal.
AIG adds logo to Singapore skyline
Global insurer AIG has installed a new signboard on top of its Asia Pacific headquarters at 78 Shenton Way.
Poor change management can cost insurers millions
Insurance players are wasting millions of pounds each year through a lack of capability and investment in change management, according to BGL’s affinity arm Junction.
Increasing threat posed by solar flares
Power and utility underwriters may be unaware of the extent of the threat of major solar flares to the world's electrical generation infrastructure, space weather specialists told the London Power Forum last week.
Apil urged to 'put words into action' on whiplash fraud elimination plan
The Association of Personal Injury Lawyers' often frosty relationship with the insurance industry has shown signs of thawing after its proposal for eliminating fraudulent whiplash claims was met with tentative approval.
Plumeri puts Sandy industry losses at $50bn
Outgoing Willis chairman and chief executive Joe Plumeri believes that insured losses arising from superstorm Sandy could be up to 10 times higher than the early industry estimates of $5bn (£3.15bn).