News
2013 results: insurers’ CORs boosted by benign weather but RSA takes £244m hit
Insurers’ full‑year results were bolstered by largely benign weather conditions last year as many firms sacrificed market share in motor and home segments to retain profitability.
Insurers and brokers urge Competition Commission to ban all MFN clauses
Fears a ban could harm price comparison websites misplaced.
CII to ‘name and shame’ firms that fail to get behind apprenticeship scheme
Industry bodies launch initiative aiming to double apprenticeships by 2017.
Novae's underwriting profit climbs 50%; pays special dividend
Novae Group's underwriting profit was £48.9m last year, an increase of 50% over 2012 when it recorded £32.6m. As a result the Lloyd's insurer is paying a special dividend of 20p a share.
Rajah & Tann hire 14 from Hunton & Williams in Bangkok
Singapore-based law firm Rajah & Tann has hired 14 lawyers from US-based law firm Hunton & Williams in Bangkok.
Woolgrove not applying for permanent Flood Re CEO post
Flood Re interim chief executive Tom Woolgrove will not be applying for the permanent post currently being recruited for, the Association of British Insurers has announced.
Mutual insurer FM global reports 32% income rise
Business property insurer FM Global recorded a 32% increase in its net income to $1.02bn (£611m) for 2013 alongside a 2.7% increase in gross written premium to $5.6bn.
JLT’s Burke taking break to reflect on 'work-life balance'
Jardine Lloyd Thompson group chief executive Dominic Burke’s two month hiatus from the role will give him a chance to concentrate on work-life balance before returning to the company for an agreed “indefinite period”, according to bosses at the broker.
Brit confirms plans for April float in London
Brit has confirmed plans to float on the London Stock Exchange in an initial public offering will come to fruition in April.
PPI issue far from being sorted, according to FOS
Payment protection insurance complaints made up 76% of all complaints referred to the Financial Ombudsman Service in the second half of 2013.
Bryant touted as Lloyd's Hong Kong frontrunner after leaving Zurich
Dylan Bryant is being touted as the frontrunner to become Lloyd's general representative in Hong Kong after leaving his role as regional head of IPZ customer, distribution and marketing, Asia-Pacific, Zurich.
RSA's Holliday-Williams to replace Woolgrove at DLG
UK personal lines managing director Tom Woolgrove is to leave Direct Line Group, and will be replaced by RSA Scandinavia chief executive Mike Holliday-Williams.
Gallagher hires Peppiatt for director role
Arthur J Gallagher has hired Sarah Peppiatt to take on the role of delegated authorities director.
JLT reports 11% revenue increase as Burke announces break
Jardine Lloyd Thompson Group increased revenue by 11% to £979.2m in 2013 including 8.5% organic growth and 4% growth from acquisitions.
Buffett not changing plans for climate change
Key insurance investor Warren Buffett does not see climate change as a differentiating factor when reserving.
Hiscox's move into direct general motor generates Asia platform
Hiscox is to use DirectAsia as a platform for growth in Asia as it moves into the direct general motor space after traditionally underwriting in the high end motor market.
AIA recruits Saunders from Towers Watson
AIA has appointed Mark Saunders as group head of strategy and corporate development and a member of the AIA group executive committee.
Japanese insurers to shrug off snow, says Fitch
The worst snowfall in several decades in central and North-Eastern Japan is unlikely to damage the earnings profile of general insurers, says Fitch Ratings.
Cooper Gay rebrands and strengthens marine division in Asia
Cooper Gay has rebranded its marine insurance business in Asia as Latitude Brokers and appointed three brokers to the team.
Jelf brings Riverside into the fold following acquisition
Jelf Insurance Brokers chief executive Phil Barton has welcomed Purple Partnership member Riverside Insurance Brokers’ decision to “take the next step” and join Jelf following the acquisition of the Kent-based business.
Dye hopes storms will have 'corrective' impact on rates
The impact of poor weather in the fourth quarter of 2013 and the first quarter of 2014 could see rate strengthening across a number of business lines, Allianz Insurance chief executive Jon Dye said today.
LV Broker appoints Tim Rourke to pricing role
LV Broker has appointed Tim Rourke as its motor pricing head to grow the ABC and Highway motor books.
Ex-Cunningham Lindsey boss Ventris returns to Parabis for 'unspecified' role
Neil Ventris is to return to Argent Liability Adjusters parent Parabis for an unspecified role less than a year after leaving the business, Post can reveal.
Ace becomes a chartered insurer in the UK
The Chartered Insurance Institute has awarded Ace Group’s UK retail property and casualty operations chartered insurer status.