News
EAIC 2014: Insurers should embrace social media in Asia
The use of social media is growing in Asia and insurers need to have strategies to engage with customers according to a panel at the East Asia Insurance Congress.
China becoming "more accessible" to foreign insurers, says Axco
Global insurance information provider Axco believes China is becoming more accessible to foreign insurers despite only having a 1.3% market share in 2013.
ABI clarifies rate tracking method after posting incongruous Q3 motor prices
ABI figures out of step with those produced by The AA and Towers Watson
Industry welcomes PRA survey on ‘real threat’ of climate change risk
Insurers lack understanding of climate change’s implications for investments
Insurers back insurance premium tax waiver for young telematics users
Report revives young driver debate amid claims it was ‘buried’
Experts reveal ‘significant’ links between insurance fraud and terrorism
Met commissioner says one-third of counter-terrorism policing is fraud-related
Kennedys CEO Stobart to step down
Law firm Kennedys has announced that CEO Guy Stobart has resigned after five years leading the firm.
AIG reports 23% Q3 group post-tax profit leap
AIG's property casualty division has recorded a combined operating ratio of 102% in the third quarter of 2014 alongside a divisional pre-tax operating income of $1.1bn (£687m).
Former Brightside director Freer joins Strategic Insurance Services
Christian Freer has joined niche insurer Strategic Insurance Services as its first commercial director to develop and lead product distribution in the motor arena.
Government's Pool Re levy increase leaves insurers little room to manoeuvre
The timing of the government's proposed increase to its Pool Re fee has left insurers with few options, according to market commentators, as time to negotiate alternative reinsurance arrangements is limited.
Seven insurers appointed to Towergate SME panel
Towergate has reached agreements with seven insurers to form a commercial panel for sub £5000 premium standard SME business.
PFK Littlejohn hires Gee to head up counter fraud team
Accountancy firm PFK Littlejohn has appointed a forensic fraud team headed up by former director of counter fraud services at BDO Jim Gee.
S&P reaffirms Ageas rating
Standard & Poor’s has affirmed Ageas Insurance’s BBB pi rating, ahead of the planned cessation of pi ratings in its various global territories.
Aon Benfield swoops for Adriatic reinsurance broker
Aon Benfield has purchased a Greece and Cyprus focused reinsurance broker, recruiting 11 local staff in the process.
L&G GI quarterly premiums inch beyond £100m for the first time
L&G has reported quarterly general insurance premiums of more than £100m for the first time.
Lorica snaps up Gallagher Scotland and NI boss McEwan for regional role
Arthur J Gallagher’s Scotland and Northern Ireland regional managing director Alan McEwan has joined Lorica Insurance Brokers as regional director.
Axa retains top spot in Brokerbility satisfaction survey
Axa has once again been ranked highest in a bi-annual satisfaction survey of Brokerbility members.
JLT CEO Burke ‘cautious’ despite accelerating US specialty spending
JLT CEO Dominic Burke has expressed caution over the broker’s full year performance, despite announcing plans to step up its spending into newly launched US business JLT Specialty, accelerating previously planned spending into this year.
EAIC 2014: Marry modelling with gut instinct over climate change, says Benedicto
Philippines-based Dr Pedro Benedicto, president, Republic Surety and Insurance, argued today that climate change modelling is not enough to try and foresee future trends.
EAIC 2014: Climate change risk "manageable", says Aon Benfield
Dr Stephen Mildenhall, global CEO of analytics, Aon Benfield suggests there is enough capital for insurers and reinsurers to cope with climate change.
Zurich bringing commercial claims process in line with Insurance Bill ahead of legislation
Zurich is to adopt the Law Commission's recommendations on the new Insurance Bill before it is formally adopted as law ahead of the next election.
AIG reported to be lead insurer for Virgin Galactic loss
AIG is reported to be the lead insurer for the Virgin Galactic spaceship that crashed last week.
Axa Assistance agrees breakdown deal with Autonet
Axa Assistance has partnered with Autonet Insurance to provide breakdown services to Autonet's van, car and motorbike insurance customers.
More Than partners with Trak Global on telematics product
More Than has launched a telematics product in partnership with Trak Global to help reduce the cost of motor insurance for young, inexperienced drivers.