News
Ageas profits up 5.6% amid tough retail trading environment
Ageas has chalked up a 5.6% rise in its net profit in the opening nine months of 2013, despite gross written premiums generated by Tesco Underwriting plummeting £133m on the previous year.
IFR promised in ‘weeks not months’ but delay continues to frustrate
Davies cites importance of a foolproof platform as reason for IFR not being ready.
Zurich's head of corporate business hails opportunities of urbanisation
Thomas Hürlimann, CEO global corporate, Zurich sees a bright future for the insurer in the Asia-Pacific region as people flock to cities near shorelines and fault lines.
HWL Ebsworth hires large team from DLA Piper in Sydney
Australian law firm HWL Ebsworth has expanded its insurance practice in Sydney with the hire of three partners and twenty lawyers from DLA Piper.
Crawford hit as Thai flood work tapers; affirms full year guidance
Adjusting giant Crawford has seen its total consolidated global revenues fall 3% in the third quarter of 2013, with the Europe, Middle East, Africa and Asia Pacific regions witnessing revenues tumbling by 12%.
RSA sees shares slide after ROE warning
RSA has seen its share slump in trading today after this morning warning that return on equity could tumble to below 10% following storm losses.
XL swoops for AIG’s Europe claims boss
XL has recruited AIG’s chief claims officer for Europe to replace the outgoing Graham Lambourne as head of international P&C claims.
Crawford sees Q3 global revenues drop as Thai flood claims taper
Adjusting giant Crawford has seen its total consolidated global revenues fall 3% in the third quarter of 2013, with the Europe, Middle East, Africa and Asia Pacific regions witnessing revenues tumbling by 12%.
Crew at fault in high number of ship collisions
Human error is to blame for the majority of ship collisions according to the London P&I Club, with complacency on the bridge of the vessel often a significant cause of casualties.
Lord Hunt appointed as Biba INED
The British Insurance Brokers’ Association has appointed Lord Hunt of Wirral as its first independent non-executive director.
IFB unveils three point rogue CMC plan
The Insurance Fraud Bureau has revealed a new three point plan for tacking for claims management companies involved in insurance fraud.
Insurers to pay out £130m for St Jude storm losses
The Association of British Insurers has revealed the industry is expected to pay out £130m to customers hit by St Jude’s day storm.
Andy Homer steps down as Biba chairman
Andy Homer is to stand down as chairman of the British Insurance Brokers’ Association after nearly two years in the role.
Brokers crucial to target sole trader underinsurance
Over 180,000 sole traders are operating without insurance, according to new research by LV Broker.
Howden acquires Israeli broker
Howden Broking Group, part of the Hyperion Insuranec Group, has acquired Israeli insurance broker Bar-Ziv Ravid Insurance Group.
Arista recruits from Equity for credit control pair
Commercial lines underwriter Arista Insurance has swooped for a pair staff from Equity insurance for its credit control unit.
UK insurance industry primed to target takaful opportunities
Political proposals to transform Britain into a leading Islamic finance hub would open up a lucrative untapped market to Lloyd’s players and beyond, according to industry analysts.
Ex-Kwik Fit MD Lynch joins Glasgow-based broker
Laurie Ross Insurance has appointed former Kwik Fit Financial Services boss June Lynch as managing director.
Burke predicting financial progress amid speciality focus
Jardine Lloyd Thompson chief executive Dominic Burke is confident an increased focus on specialty business and a growing global reach will enable the broker to achieve year on year financial progress.
CGSC 'disappointed' by Moody's downgrade
Wholesale broker Cooper Gay Swett & Crawford has criticised the decision to downgrade in its corporate family credit rating from B2 to B3.
RSA anticipates sub-10% ROE as storm losses hit home
Storm losses have been cited as a major contributing factor behind RSA adjusting its financial estimates, with group chief executive Simon Lee anticipating return on equity for the year to be below 10%.
Skills shortages continue to plague industry
Skills shortages in general insurance businesses have dropped 14 percentage points to 59% in the past year, a Chartered Insurance Institute survey has found.
Aviva personal lines CUO Robinson returning to RSA
Aviva's personal lines chief underwriting officer Hayley Robinson is to return to RSA from next week, Post understands.
Asia-Pacific catastrophe limit grows
Total Asia-Pacific catastrophe limit purchased in 2013 increased for the tenth year in a row, but did not keep pace with strong GDP growth in the region, according to a new report from Guy Carpenter.