News
Willis extends Guernsey foothold
Willis has been issued with a full commercial lines licence to conduct insurance intermediary services in Guernsey.
Barbon reports £9.4m turnaround in fortunes with £471 000 loss in 2011
Barbon Insurance Group slipped into the red for the year ended 31 December 2011, according to results filed at Companies House, with a £471 000 overall loss for the financial year (2010: £8.9m).
Broker boom as emerging Europe embraces intermediaries
The European market for commercial non-life insurance broking reached a value of €9.89bn in commissions and fees in 2011, according to financial services consultants Finaccord.
Commercial lines division primed for further growth, says LMIE boss Rocks
Liberty Mutual Insurance Europe chief executive Sean Rocks is eyeing further expansion in the firm's commercial lines division after reporting substantial profitable growth.
Liberty Europe's commercial arm reports 'profitable growth'
Liberty Mutual Insurance, the commercial lines division of Liberty Mutual Insurance Europe, is reporting 'substantial profitable' growth.
Nat-cat losses dip below average for first six months of 2012
Natural catastrophe losses for the the first six months of 2012 were $26bn, well below the six-month average of recent years, according to Munich Re.
Willis granted intermediary licence on Guernsey
Willis Group Holdings has been issued with a full commercial lines licence to conduct insurance intermediary services in Guernsey under the Insurance Managers and Insurance Intermediaries Bailiwick of Guernsey Law, 2002.
DLG's ambition to float in doubt amid reports of PE bids
The Direct Line Group's plans to float have been put in jeopardy, according to reports claiming that two private equity consortiums could launch rival bids for the business.
Insurers call for single global accounting framework
A need for increased financial reporting transparency and consistency has led more insurers to call for a single global accounting framework, according to a survey of insurance finance executives.
RSA to save energy with new Carbon Trust deal
RSA is joining forces with the Carbon Trust to make energy efficiency services available to its business customers.
Average motor premiums fall in 2012
Actuaries have questioned whether recent reductions in the average costs of motor insurance premiums have come prematurely, as personal injury costs continue to rise.
Randall & Quilter opens Manchester MGA office
The company's specialist MGA platform has opened its first UK regional office, in Manchester.
Solicitors PI market urged to remain 'on alert' despite dip in claims
A fall in the number of professional negligence actions launched against solicitors has been heralded as "welcome news" for law firms and their insurers, but experts have warned the market to remain vigilant.
Eiopa urges insurers to use ORSA guidelines
The European Insurance and Occupational Pensions Authority has published its final report on the draft guidelines for Own Risk and Solvency Assessment.
Scrap Metal Dealers bill passes second reading
The insurance industry is one step closer to seeing tighter laws in place against "wanton" acts of metal theft after the House of Commons voted for a Private Member's Bill to go through to the committee stage.
LAS chairman Posner retires
LAS Claims Management chairman Howard Posner, pictured, has stepped down following a management restructure to position LAS for further business growth.
Flash flooding hits south west Japan
Intense rainfall in south west Japan has resulted in flash flooding and landslides, according to catastrophe modelling firm RMS.
BIA 2012: The winners
The insurance industry gathered in its finery at the Royal Albert Hall for the British Insurance Awards 2012.
BIA 2012: Commercial Lines Broking Initiative SME/Mid-corporate of the Year
Winner: Wilby Spotting a gap in the market Wilby has developed a truly tailored product to boost the fortunes of motorcycle dealers, as well as putting it on the road to profitability, reports Emmanuel Kenning.
BIA 2012: Commercial Lines Broking Initiative of the Year - Large Corporate
Winner: Marsh Marsh’s work in providing cover for trade credit facilities has helped stimulate growth in emerging markets by opening new trade opportunities for IFC. Stephanie Denton finds out how it did it.
BIA 2012: Personal Lines Broking Initiative of the Year
Winner: Hastings Direct In a major overhaul of the business, Hastings Direct has helped engage staff and improve customer retention, even surpassing its own expectations on the way. Caitlin Morrison reports.
BIA 2012: Marketing Initiative of the Year
Winner LV Shifting its focus away from traditional marketing strategies and concentrating on better brand awareness has allowed LV to gain traction in the cluttered motor market. Francesca Nyman reports.
BIA 2012: Claims Initiative of the Year
Winner: Zurich Insurance With its tough stance and coherent, inter-industry initiative, Zurich has been instrumental in preventing fraudulent occupational disease claims from spiralling out of control, writes Leigh Jackson.
BIA 2012: The Major Loss Award
Winner: AXA Commercial Lines After the devastation caused by last summer's riots, Axa Commercial Lines stood out in its efforts to help get business owners and communities back to normal as quickly as possible, writes Callum Brodie.