News
Zurich looking at new look loss adjusting panel following review
Regulation and consolidation driving insurers’ decision-making process
Chubb posts $601m income for Q3
US insurer Chubb Corporation, which is currently in the process of being acquired by Ace, has posted healthy third quarter net income of $601m (£388m) compared to $594m in the third quarter of 2014 as it benefitted from another relatively benign…
Admiral dismisses data-selling claims as ABS's report £6.2m profit
Admiral has rebuffed claims its in-house legal divisions were set-up to circumvent the 2013 referral fee ban as its two alternative business structures reported joint pre-tax profits of £6.2m in 2014.
Lloyd's pledges co-operation with China Taiping Insurance Group
Lloyd's has signed a Memorandum of Understanding with the China Taiping Insurance Group, marking a significant level of co-operation between the two.
Northern European countries ahead of southern counterparts on SII readiness
Insurers in northern Europe are better prepared for Solvency II than those in the southern part of the continent, according to data specialist Silverfinch.
London market claims system Write-Back goes live
Write-Back, the system that allows the IT systems of Lloyd’s managing agents to interact fully with the market’s central claims systems, went live on 17 October, supported by eight carriers.
Oak to launch nine-strong in-house claims team
RSA subsidiary Oak Underwriting is to launch an in-house high net worth claims team on 25 October.
Spanish insurance market shows ‘resilience'
An AM Best report has revealed that the country's insurance market is showing resilience as companies begin to focus on profitability.
Ace reports record $897m operating income for Q3
Ace has posted a record after-tax operating income of $897m (£581m) for the quarter ending 30 September 2015.
Applied Net 2015: Ex-US secretary of state Albright raises cyber concerns
Former US secretary of state Madeleine Albright described cyber risk as an inevitable consequence of global technological development amid at a period of “chronic uncertainty” around the world.
Applied Net 2015: No better time in history to be a broker, says CEO French
Reid French, CEO of Applied Systems, has set out what he believes are the five characteristics of the digital agency of the future.
Penny Black's Insurance Week - 22 October 2015
Penny was reminded of her youth when the member of a recent panel on captives discussing longevity confided that computers didn’t exist when he started working.
Aegon follows L&G out of ABI
Aegon plans to follow the precedent set by Legal & General when it leaves the Association of British Insurers at the end of the year.
Inga Beale tops list of most influential LGBT executives
Lloyd's CEO Inga Beale has topped a list of the leading lesbian, gay, bisexual and transgender executives in the country.
Telematics evidence leads to conviction
The growing acceptance of telematics within the legal system has been further demonstrated after evidence provided by a device resulted in a suspended prison sentence for a motorist.
Increased innovation and outsourcing key to driving down household claims expenses
Household insurers have been advised to outsource more claims and increase innovation or run the risk of following the path of the unprofitable motor market.
Absence of specialist underwriters sees Lloyd's cyber risk appetite shrink
Absence of a specialist underwriter and failing to recognise cyber exposure in pricing and capital models have been cited as reasons for Lloyd's potentially limiting the amount of cyber insurance it writes, as UK government data estimates 2.5 million…
European firms not doing enough to understand cyber risk, Marsh finds
Most European organisations are not doing enough to identify, analyse and understand their cyber risks, according to Marsh's 2015 Cyber Risk Survey Report.
Career Development: LMG invites young insurance professionals to help shape the future of the London market
At a forum for young professionals in the Lloyd’s and London market, the London Market Group announced plans to appoint two young professionals to the initiatives within the Target Operating Model.
Career File: Nicolas Aubert: Aubert named Willis Group Holdings CEO
Willis Group Holdings has appointed Nicolas Aubert as CEO of its principal UK-regulated entity Willis Limited.
British Money exits PPI, moves to motor
Payment protection insurance seller British Money has announced it is leaving the scandal-hit sector and moving into the motor insurance market.
Market Moves - 22 October 2015
All the latest movers and shakers on the insurance scene
Industry urges for home-grown FCA appointment
Industry commentators have been left perplexed by reports that Financial Conduct Authority head hunters have approached Australian regulator Greg Medcraft about the top job, and have urged the regulator to choose a CEO who will take the time to get to…
Holland promoted at Triton Global in Australia
Mathew Holland has been promoted at claims service provider Triton Global in Australia.