News
Julian James elected new CII president
At the Chartered Insurance Institute’s annual general meeting held in London on 22 July 2011 Julian James was elected 115th president of the CII.
Consumers feel little love for insurance brands
Churchill has topped a list of insurance and pension brands according to the quality of relationship they have with their customers, but overall insurance and pension brands fared worst in the survey of financial services.
Scor boss heralds "capital shield" after H1 nat cat losses
Scor has recorded gross written premiums of €3400m (£2900m) in the first half of 2011, up 4.4% compared to the first half 2010 (+6.7% at constant exchange rates).
Insurers uncovered 9% more fraud in 2010, according to the ABI
Insurers uncovered 133 000 fraudulent insurance claims in 2010 - 2500 every week - up 9% on 2009.
Jersey avoids Solvency II
Jersey’s insurance sector has welcomed the announcement from the island’s financial services regulator, the Jersey Financial Services Commission, that it has no plans to implement Solvency II measures in Jersey.
Western European deal-making "fragile" in July
Western European deal-making in July has been described as “fragile” by Zephyr researchers who recorded 1150 M&A deals worth a combined €39 091m in the past month – the weakest monthly result since August 2010.
Jersey regulator rejects Solvency II
The Jersey Financial Services Commission has said that it has no plans to implement Solvency II measures in Jersey.
Gallaghers confident of exceeding $2bn in 2011 after Heath deal and strong H1
Arthur J Gallagher & Co today reported a 13% rise in brokerage revenues for the first six months of 2011 to $717.6m (£439m) (H1 2010 $635.2m).
AA premium index highlights rate increases are levelling off
According to the latest benchmark AA British Insurance Premium Index, the cost of both car and home insurance appears to be levelling off, with small falls in the cost of cover for young drivers and for home insurance.
People moves - 28 July 2011
A round-up of people moves and new appointments in the industry, as featured in the 28 July 2011 edition of Post.
Aspen records $128.7m operating loss at the half year
Aspen this morning reported a combined ratio of 105.0%, or 89.2% excluding catastrophe losses for the second quarter of 2011, compared with a combined ratio of 86.9% for the second quarter of 2010.
Career development & CSR: CII game transforms student opinion of 'boring' insurance
An increasing number of youngsters are considering a career in insurance, according to research carried out by the Chartered Insurance Institute.
Irish underwriter targets UK market
The managing director of an independently owned Irish underwriting agency has set his sights on the UK after signing a deal with Axa Ireland to launch a new motor product for its local market.
Douetil praises discipline
Brit Insurance chief executive Dane Douetil this week credited disciplined underwriting as the reason the firm managed to stay in the black.
Career development & CSR: BLM raises £18 000 for Barnardo's
Generous employees from Berrymans Lace Mawer handed over £18 000 to Barnardo's following the law firm's annual charity quiz night.
Group unveils ABS plan despite delay
Triton Global has "stuck its head above the parapet" to announce it is ready to become an alternative business structure, as soon as it has the green light from the Solicitors Regulation Authority.
Crawford axes up to 50 as claim volumes fall
Loss adjuster Crawford & Company is to make as many as 50 people redundant, including managers, after a business review flagged up a fall in household claims.
North of the Border: lack of consensus on cost reform
How quickly and cost-effectively will future claims in the Scottish courts be dealt with? The Gill review of Scotland's civil court system sought to provide a comprehensive answer to this question but has yet to be implemented.
XL seeks alternative to non-disclosure clause
XL Insurance is in the process of drawing up an alternative to risk management trade body Airmic's model 'non-disclosure clause', in a bid to encourage insurers to sign up to it, Post has learned.
Career development & CSR: Groupama manager wins volunteering award
A big-hearted Groupama Healthcare worker has been honoured for her "outstanding" charitable contribution to local communities in Hertfordshire.
Jersey firm has Giles in its sights after takeover
Bosses from Jersey-based Islands Insurance have heralded the acquisition of Reed Insurance Associates as "a big leap forward", after finalising a deal that sees the firm become the self-proclaimed second largest operator on the Channel Islands.
Garwyn begins another CEO hunt
Private equity-owned specialist liability loss adjuster Garwyn is to appoint a new chief executive officer to replace Stewart McCulloch "in due course," just 13 months after he joined the business.
Editor's comment: A disturbing pattern
No sooner have counter fraud managers applauded the industry's backing of an insurer-funded fraud police unit, than their vehicle theft counterparts are bracing themselves for going it alone in trying to tackle another criminal act.