News
Mondial Assistance shuffles top roles
Mondial Assistance’s UK CEO Mike Webb is to relinquish the role and become non-executive chairman, with UK Managing director Serge Corel, taking the CEO role.
Alterra reports earnings down for Q3 2011
Alterra Capital Holdings has reported net income of $48.4m, or $0.46 per diluted share, for the third quarter of 2011, compared to net income of $82.8m for the same quarter of 2010.
Ireland 123 aquisition drives RSA's profits up for Q3
The acquisition of 123 in Ireland last year and growth across central and emerging Europe has helped RSA to report further growth in quarter three of 2011.
Snowball speaks out on challenging global insurance market
Suncorp CEO Patrick Snowball recently outlined his thoughts on the challenging global insurance market at the British Insurance Summit.
Thai floods: Insured losses creep up
Global reinsurance broker Aon Benfield has estimated the insured losses from the floods in Thailand could be at least US$4.6bn.
Markel appoints Balocco to professional liability team
Specialist insurer Markel has named Davide Balocco as a senior underwriter in its in its professional liability division.
Swiss Re reports 118% net income rise
Swiss Re reported a 118% increase in net income in its third quarter to $1.3bn (2010 $0.6bn).
McGovern named on US Treasury insurance committee
Lloyd’s North America director and general counsel Sean McGovern has been appointed to the US Treasury’s committee on insurance.
RSA’s pet and household replace motor
RSA has reported UK personal lines Q3 net written premiums were up 13% to £1 036m, with commercial lines up just 2% to £1 282m. Overall the UK was up 7% to £2 318m.
Post Blog: Between a Rok and a hard place
What happens when a building repair and maintenance partner, crucial to policyholders, goes out of business? Sharon Scully, general manager, property and legal at Axa Assistance, explains.
Aviva claims UK rise makes it market leader
Aviva claimed UK general insurance sales increased 12% over the first nine months of the year making it “the general insurance market leader in the UK”.
Future technology competition
Many accuse the insurance industry of being less than innovative and behind the curve with the application of technological advances, this is you chance to prove them wrong.
Law report: Dispute number challenge fails
This law report has been contributed by national law firm Berrymans Lace Mawer.
XL scoops bulk of solicitors’ PI market as fewer join assigned risk pool
As capacity in solicitors’ professional indemnity increases, brokers predict XL will be the biggest player in the market, replacing 2010’s top underwriter Chartis.
Esure broking boss vows to prioritise fraud
The managing director overseeing the launch of Esure’s two new broking brands has vowed to make clamping down on fraud a priority issue, after outlining a list of crime-cutting measures.
Firms warned of hardline FSA approach
A UK insurance boss has welcomed the Financial Services Authority proposals to properly inform customers about packaged bank accounts.
Building referral fee costs hitting industry for 'tens of millions of pounds'
Building referral fee costs, which have escalated over the past two years, are “like a cancer” costing the industry “tens of millions of pounds” a year, it has been claimed.
Homeserve shares crash after sales suspension
Homeserve joined the mis-selling scandal this week when it suspended telephone sales of its home emergency policies, after an internal review by Deloitte found its processes fell “below the standard it had set itself”.
Groupama CEO Azéma sacked after Fitch and S&P action
A senior rating analyst has played down fears a raft of major European insurers could be on the end of downgrades in the wake of the European Union debt crisis.
Editor's comment: Offering a united front
Despite the speculation that the British Insurance Brokers’ Association may revert to its former name Biiba – the extra ‘i’ once standing for investment — following its merger with the Institute of Insurance Brokers, it has now been revealed that the…
News analysis: Is data mining a major factor in the PI claims spike?
The debate over referral fees has had more press time recently than whether The X Factor is on the wane or not. And just like the blow-by-blow tabloid accounts of the TV show, its judges and its contestants, the insurance industry is starting to get…
Merged trade bodies to fight for
A campaign to secure a more cost-effective regulatory environment for thousands of brokers will form the basis of the “historic” merger between the British Insurance Brokers’ Association and the Institute of Insurance Brokers.
Market moves: Insurers move for senior staff
For the second week running insurers were the major movers and shakers, with Ecclesiastical recruiting a managing director for Ireland, Aviva adding to its executive team, and NIG expanding its presence in London. In broking, Willis continued to make…
Law report: Solicitor’s failure to follow client instructions lands it with wasted costs charge
This law report has been controbuted by national law firm Berryman's Lace Mawer.