News
UK General hands claims boss Irish reins as it plots growth driven by internal capacity
Leeds-based insurer UK General has named claims director Nicola Sumner as its new director of Ireland for insurance, boasting a plan for expansion into Ireland backed by its own capacity.
LV predicts ‘satisfactory' full year results as Q3 GWP declines
LV has reported decreased general insurance gross written premiums for the nine months ended 30 September 2014 in both its direct and broker channels as group CEO Mike Rogers says the insurer is on track to achieve "satisfactory" results at year-end.
P&C sector sees largest reserve release since 2007, according to Guy Carpenter
The property and casualty sector recorded in 2013 the largest reserve release of the most recent accident year since 2007, according to research from Guy Carpenter.
Brokers criticise Aviva and RSA for lack of consistency
Insurance brokers are looking for a consistent strategy and team at the top from their insurer partners and anything else might make them think twice about where they place their clients' business.
Markel recruits Ang as chief representative in Malaysia
Andy Ang has left his role at Overseas Assurance Berhad to join Markel as its chief representative in Malaysia.
Ace's Ler moves to Indonesia from Singapore
Ace has promoted Edward Ler from head of personal lines and business for Asia-Pacific to president director, general insurance Indonesia.
Foreign insurers allowed into North Queensland
The Australian government is allowing foreign insurers access to North Queensland's home insurance market in an attempt to drive down prices.
Standard Life Investments plays down 8% Esure stake as fund decision
Standard Life Investments' decision to take an 8% stake in Esure this month is not an indicator of any strategic plans from its parent life insurer.
Jackson urges government action to extend fixed costs
Lord Justice Jackson is urging government to apply his recommendation that fixed costs should apply to all fast track cases in order to halt a "serious lacuna" in cost management rules.
Speed of whiplash reforms criticised following TSC report
The speed of the government’s implementation of reforms to tackle motor fraud has been criticised by the AA, following the publication of the Transport Select Committee's latest motor insurance report.
Markerstudy to promote Mannion after Vaughan retirement
Markerstudy is to replace outgoing retail group operations manager Mervyn Vaughan with retail software manager Carl Mannion.
ABS licensing change approved by LSB
Measures to make it simpler for multi-disciplinary practices to be licensed as alternative business structures by the Solicitors Regulation Authority have been approved by the Legal Services Board.
Broker Coleman welcomes two new MDs
Pool-based Coleman Insurance Brokers has welcomed two new managing directors to its board.
Cobalt boss hails AIG appetite after capacity deal
The CEO of Shariah-compliant managing general agent Cobalt Underwriting has paid tribute to AIG after the US insurer agreed a deal to provide capacity for a range of covers.
AGCS expands board and adds mid-corporate business line
Allianz Global Corporate & Specialty SE has expanded its board of management and added a new business line for mid-tier companies.
Product diversification and foreign expansion 'major growth opportunities' for HK SMEs
Product diversification and foreign market expansion are major growth opportunities for SMEs in Hong Kong.
Ace targets multinationals in Singapore
Ace has launched Ace Global Guard in Singapore to meet the needs of companies with overseas subsidiaries or assets.
Amlin increases stake in LCP to 75%
Amlin has agreed to increase its stake in Leadenhall Capital Partners, the reinsurance-linked securities investment manager which it established with the individual partners of LCP in 2008.
China encourages insurers to invest overseas
A senior representative of the China Insurance Regulatory Commission has urged insurers to increase their exposure to overseas assets.
Lloyd's £500m bond issue oversubscribed
Lloyd's of London has raised £500m from a 10-year sterling Tier 2 bond after attracting almost a £1bn of orders.
Private equity eying larger EMEA insurance stake
Insurance firms across Europe, the Middle East and Asia are more focused on disposals than acquisitions as they look to shed non-core units and strengthen their market positions elsewhere.
Polish insurance market faces 'moderate' risk, says S&P
Poland's general insurance industry is benefiting from the country's "strong and competitive economy and good growth prospects", according to Standard & Poor's.
AIG deal with Cobalt a 'statement' for London to be a global centre of Islamic finance
AIG has made 'clear statement' on behalf of the London insurance market that it is keen to make London a leading global centre for Islamic finance, according to Cobalt Underwriting CEO Richard Bishop.
More than 80% of school leavers and graduates would not consider insurance as a career
Only 18% of UK sixth form and university students said they would consider insurance as a future career according to research by the Chartered Insurance Institute.