News
Integro acquires film broker Stonehouse Conseillers
Integro has further expanded its entertainment practice with a deal to acquire London-based broker Stonehouse Conseillers.
RSA plays down redundancy speculation
RSA commercial managing director John Hancock downplayed suggestions of large scale job cuts at the insurer, despite news that it plans to cut 19% of its UK expense base.
FCA fines Stonebridge £8.4m for mis-selling accident insurance
Stonebridge International Insurance has been slapped with a £8.4m fine by the Financial Conduct Authority after issues were uncovered with the broker’s sales of accident insurance products.
Aviva eying turnaround on UK NWP
Aviva is seeking to reverse the shrinkage of its UK general insurance book after reporting tumbling net written premiums for the second successive quarter.
Video: Allianz Commercial general manager Simon McGinn (Part One)
In the first of two videos Allianz Commercial general manager, Simon McGinn discusses his businesses five year plan to be the largest insurer in its chosen market.
SRA's minimum terms change in doubt after LSB delays approval decision
The Solicitors Regulation Authority’s plan to cut the mandatory professional indemnity limit for solicitors in time for the October renewal season looks in doubt after the Legal Services Board extended the time-frame for making a decision on the change.
RSA cutting 19% of UK expense base
RSA plans to cut almost a fifth of its UK costs as it seeks to reach a target of £180m in savings globally, roughly 10% of its total costs.
Aviva posts UK COR of 94.3% for H1
Aviva's UK general insurance business recorded a 94.3% combined operating ratio in the first six months of 2014- its lowest in seven years- despite being hit by floods in the early part of the year.
Zurich unscathed by winter floods as UK H1 profits rise 9%
Zurich has trimmed three percentage points off its UK combined operating ratio over the past 12 months to 95% (H1 2013: 98%), while increasing business operating profit by 9% to £88m in the first half of 2014.
RSA returns to profit in H1 amid falling premiums
RSA chief executive Stephen Hester claimed the firm's strategic action plan was “ahead of schedule” as the group saw a return to profit for the first half of 2014.
Bank of England insurance director Adams heads to Pru
The Bank of England’s executive director of insurance supervision has been recruited by Prudential, where he will serve as group regulatory director.
Munich Re posts solid first half results
Munich Re posted a profit of €765m (£608m) for the second quarter of 2014, and a profit for the first half-year of €1.69bn (£1.34bn).
Zurich's GI profit falls 59% in Asia-Pacific
Zurich's general insurance pre-tax profit in the Asia-Pacific region fell 59% in the first half of 2014 as it lost business in Australia and Hong Kong.
Zurich's global profit climbs 15% in first half
Zurich's profits are up 15% in the first half of 2014 compared to the same time last year.
Life and health arm hits Swiss Re's profits in first half
Reinsurance giant Swiss Re had a 6% decrease in profit in the first half of the year to $2.03bn (£1.2bn).
Typhoon Rammusun's economic losses were $6.5bn
Super Typhoon Rammasun is the costliest weather event of 2014 so far after causing $6.5bn of economic losses according to catastrophe firm Impact Forecasting.
FCA issues social media warning as it launches promotions consultation
The Financial Conduct Authority has launched a consultation intended to clarify its approach to the supervision of financial promotions in social media.
Towergate restructuring costs climb to £15m for H1
Towergate’s group reorganisation programme cost the broker £15.1m in the six months to June 30, an increase on the £9.1m spent in the first half of 2013.
Demand for risk managers grows amid shifting regulatory environment
The looming implementation of Solvency II has contributed to a boom in demand for risk management specialists, according to recruitment consultancy Merje.
No further divestment plans for Ageas, Watson states
Ageas UK chief executive Andy Watson says there are no further planned divestments for the business following today's announcement of the sale of Ageas Protect.
FCA calls for claims ratios in final add-ons report face renewed criticism
The Financial Conduct Authority’s proposal to impose a requirement for insurance companies that engage in the sale of add-on products to publish claims ratios as a measure of value is expected to face continued criticism.
Hodges declines to rule out more redundancies
Towergate group chief executive Mark Hodges has refused to rule out further expansions to the broker’s redundancy programme over the next year, shortly after confirming that the firm would lose an additional 100 staff.
One third of motorists favour mobile devices for quotes
Around a third of UK motorists want to receive car insurance quotations on their tablet or smartphone, according to a survey from software provider SSP.
L&G GI profits slump in H1 as attention turns to bolt-on acquisitions
Legal & General has attributed weather claims totalling £12m in the first quarter of 2014 for a slump in the general insurance division’s operating profit to £28m in the first half of the year (H1 2013: £39m).