News
Steadfast sees flattening premiums in Australia
Steadfast managing director and CEO Robert Kelly said market rates are flattening after a year of declining premiums and profitability at Australian insurers.
Criterion completes HNW adjusting 'jigsaw' with Zurich nomination
Criterion Adjusters’ nomination to the Zurich loss adjusting panel was “the final piece of the jigsaw” in tying up the high net worth adjusting market, according to managing director Chris Monks.
Vienna Insurance Group completes Baltikums deal
Vienna Insurance Group has completed the acquisition of Latvian insurer Baltikums after receiving regulatory approval.
CII's 2016 New Generation Group launches
The Chartered Insurance Institute's New Generation Group, class of 2016, met for the first time at a launch event held in London on 23 October.
Wilson hails UK organic growth dismissing likelihood of ‘jumbo' deals
Aviva group CEO Mark Wilson said the insurer will consider "build-out" acquisitions that complement its distribution model but is not considering any "jumbo" deals.
Aviva signs five-year partnership with Homeserve
Aviva has signed a five-year deal to underwrite home assistance products for Homeserve's two million UK customers.
ACR's John Tan retires
Reinsurer Asia Capital Re's CEO and founder John Tan has decided to retire citing health reasons and medical advice.
Aviva UK & Ireland Q3 COR improves to 92.8%
Aviva UK & Ireland has reported an improved combined operating ratio for the first nine months of 2015 - 92.8% from 94.2% in the same period last year.
Shareholder Icahn calls for AIG split
Activist shareholder Carl Icahn has claimed AIG is "too big to succeed" and needs to be broken up.
RAC to launch mass-market telematics product in Q1 2016
RAC is to unveil a mass-market telematics product that includes a vehicle diagnostics feature in the first quarter of 2016.
Shipowners’ Club records improved COR at half year stage
Marine mutual insurer The Shipowners’ Club has delivered an improved half year combined ratio of 87% to August this year (2014: 95.5%), with a small underwriting surplus of $12.9m (£8.4m) on the 2015 policy year (2014: $4.6m).
Ex-Willis Northern Ireland MD Workman moves to Belfast's 'other Willis'
The former managing director of global broker Willis’s Northern Ireland business David Workman has resurfaced at Belfast-based Willis Insurance & Risk Management.
Axa awarded £10k in costs after successful 'crash for cash' case
An attempted claim for personal injury damages following a staged accident has seen £10,000 and an eight month sentence awarded against a claimant.
Flood Re hires Bartholomeusz as CRO
Flood Re has appointed Michael Bartholomeusz as its chief risk officer responsible for the scheme's risk management framework.
Reid to tour the regions as integration takes precedence at Gallagher
Retail acquisitions will be put on the backburner at Arthur J Gallagher International in favour of a strategy of “integration and reengineering”, according to incoming UK retail CEO Stuart Reid.
Asta granted 'in principle' approval for £46m GWP Skuld syndicate
Asta Managing Agency has been granted 'in principle' approval from Lloyd's to set-up special purpose syndicate 6126 that has planned gross written premiums of £46m for 2016.
Excluded properties remain contentious as Lords debate Flood Re regulations
Concerns around timing and excluded properties were raised by members of the House of Lords in debating the regulations to govern Flood Re yesterday (27 October).
Willis GB reports 16% income drop in nine months
Willis GB has reported a year-to-date operating income of $84m (£54.9m), down from $100m in the first nine months of 2014.
Argo Global hires marine leader in China
Lloyd's syndicate Argo Global has hired Willis China's former head of trade and logistics Yan Jun as its China marine underwriting manager.
Survey shows insurance firms increasing cloud penetration
Insurance companies are increasingly harnessing the power of the cloud according to Post's research.
IPT increase could encourage driving without cover, AA warns
The AA has warned that higher motor rates may lead to younger drivers taking to the road without cover or with false details.
FRC paper published on improving board succession
The Financial Reporting Council today (27 October) published a discussion paper on succession planning for UK boards in a bid to improve the process.
Claimant firms' profits forecast a 'sign of market consolidation'
The CEO of the Forum of Insurance Lawyers, Laurence Besemer, believes the results of a survey showing that personal injury firms expect to deliver more profits in the coming year is merely a sign of "more market consolidation".
Emergence of 'disruptors' keeping established motor players on their toes
The launch of a broking start-up that provides motor insurance by the hour has been hailed as an example of a “disruptor” that will force established players to refocus on their customer proposition.