News
ISE 2012: EIOPA sees ‘new spirit’ after Solvency II vote
There is a new spirit and momentum to Solvency II following this week’s vote according to the European Insurance and Occupational Pensions Authority.
ISE 2012: UK regulator’s emphasis on board role in risk management could attract “wrong” sort of execs
Following the bank crisis the Financial Services Authority in the UK has focused more closely on the board’s role in risk management in a move which could be bad for non-executive directors according to a legal expert.
Axa Assistance launches motor breakdown app
Axa Assistance has unveiled a motor breakdown app in response to a company poll which showed the vast majority of drivers consider their mobile phone as the most important item in the event of a breakdown.
Xchanging tackles credit control concerns
Xchanging is planning enhancements to its services for underwriters in response to increasing market concern over issues with credit control.
Dissatisfaction could affect credit insurers' ability to recover in future
European credit insurers would be less able to rebound in a future crisis than they were in 2008/2009, according to Moody's latest insurance industry outlook.
ISE 2012: Ebusiness moves beyond selling insurance online to ‘personalised’ service
Insurers need to take ebusiness to the next level and personalise customer journeys to win business according to More than.
ISE 2012: Ageas says multi-channel distribution is essential for European insurers
Keynote speaker at Insurance Strategy Europe Bart De Smet, group chief executive officer at Ageas, told delegates how multi-channel distribution is essential for insurance in Europe and how his firm has restructured to reflect this.
Charles Taylor Consulting set for expansion
Speaking to Post after the release of its results, group chief executive officer David Marock said that the company is looking to expand in Latin America and Asia.
Brightside's "tough love" anti-fraud approach lifts profits
Brightside Group chief executive Arron Banks has cited the company's "tough love" anti-fraud prevention techniques as the reason for its 37% pre-tax profit boost.
RBS names Biggs as Direct Line Group chairman
The Royal Bank of Scotland has confirmed the appointment of Mike Biggs as chairman of Direct Line Group's board of directors.
Tawa shrugs off $21.6m loss in a year of "transforming"
Run-off specialist Tawa reported a loss after tax of $21.6m for the full year 2011, after a profit of $1.8m in 2010.
EU may allow limited coverage for Iranian oil shipments
Intense lobbying by South Korea and Japan has led the EU to relax its ban on insuring Iranian oil shipments, according to Reuters.
IRDA scrutinises bank stakes in Indian insurers
Equity tie-ups between Indian insurers and their bancassurance partners are coming under scrutiny from India’s insurance regulator.
Brightside launches clarion call against fraud
Bristol-based broker Brightside has issued a stark warning about fraud as it announced its ninth consecutive record year, with revenue up 21.5% to £80.4m (2010: £66.2m) and pre-tax profit up 34.7% to £13.6m (2010: £10.1m).
Charles Taylor exits non-life run-off
Charles Taylor Consulting is to quit the non-life run-off business after making a loss and claiming the sector is too competitive.
Air looks to Zurich for development chief
Air Worldwide has appointed Zurich head of catastrophe modelling John Elbl to be vice president in its business development group.
Beachcroft and Andersons eye cross-border services in joint venture
International law firm DAC Beachcroft and Andersons Solicitors have agreed a joint venture - DAC Beachcroft Scotland – which will come into effect from 3 September.
Lloyd's delays Solvency II request to FSA
Lloyd's has delayed applying to the FSA for approval of the market's internal model from April to July.
Esure CEO Stuart Vann says broker businesses will grow this year
Esure boss Stuart Vann, pictured, pinned his firm's fourfold increase in profits on walking away from bad risks in 2010, raising prices by more than 20% and pocketing £16m of identified fraud savings with the insurer's 33-strong anti-fraud team.
Crawford & Company hands Allcroft senior global markets role
Crawford & Company has named former Zurich Global Corporate executive board member Neil Allcroft as senior vice president of its global markets team.
Esure reveals fourfold increase in profit
Insurer Esure has reported an operating profit up more than fourfold to £80.8m (2010: £18.6m) on a combined operating ratio down to 94.6% (2010: 114.5%).
ISE 2012: Agility is 'name of the game' for European insurers
European insurers will need to be agile to survive, according to Capgemini's group vice president.
Talanx 'thoroughly satisfied' after posting €1.2bn profit
German insurance giant Talanx was "thoroughly satisfied" after increasing operating profit 21% to €1.2bn for 2011, despite a turbulent year for the eurozone and high incidences of natural catastrophes.
RSA appoints Karen Myers as UK and western Europe HR director
RSA has confirmed the appointment of Karen Myers as HR director for the UK and western Europe, a role which will see her become a member of Adrian Brown's executive team.