News
Swiss Re reports second quarter P&C COR of 78.4%
Swiss Re has reported a net income of $960m (£587m) in the second quarter of 2011, compared to $812m in the same period of 2010.
Aviva hails UK GI performance as overall operating profit rises 5%
Continued strong motor rate increases in the first half of 2011 have helped Aviva post a combined operating ratio of 96% for its UK general insurance business (H1 2010: 98%), with personal motor pushing through 21% alongside a net written premium rise of…
Novae hurt by catastrophe losses
Novae said half-year catastrophe losses added 20% to its combined ratio, taking it to 111% and causing a pre-tax loss of £30.1m (H1 2010: profit £13.8m).
Axa 100% COR prompts attack on legal fees
Axa UK has claimed its direct personal lines business revenues rose 22% in the first half of 2011, taking total UK & Ireland property & casualty revenues to £2bn, up 4%.
RSA UK personal lines result helps offset £19m commercial loss
RSA has reported a rise in UK premiums of 7% to £1570m for the first six months of 2011.
Catlin warns of catastrophe losses
Catlin has said $534m in losses from catastrophes added 32% to its combined operating ratio, taking it to 117% for the first half of 2011.
International boss Lee to succeed Haste as RSA CEO
RSA has announced that Andy Haste has advised them of his intention to step down as group chief executive after more than eight years in the role.
Willis blames restructuring for profits fall
Willis has reported its net income for the six months to June 30, 2011 was $119m down from $293m in the same period a year ago, which the broker is mainly attributing to restructuring costs of $115m.
MCE targets entrepreneurs
Budding insurance entrepreneurs, with a proven track record in sales, will be offered the chance to establish their own business as part of a new scheme created by biker broker MCE.
Website Review: Go Compare
In the latest of its ongoing series, web performance specialist Gomez looks at Go Compare's website.
Law reports: Costs confusion as both parties claim victory
This las report has been contributed by national law firm Berrymans Lace Mawer.
Baker quits CHO — DG search initiated
The Credit Hire Organisation says it has identified a number of "high calibre" candidates to fill the void left by departing director general Tony Baker, who last week announced his decision to step down at the end of the year.
Lloyd's pursues own probe into Equity syndicate losses
Lloyd's is investigating Equity syndicate's reserve deterioration, Post has learnt, and a Names protest group says the outcome should prove influential to its own campaign over Equity's losses.
Hiscox bemoans 'costliest year ever'
Specialist insurer and reinsurer Hiscox was stung by a pre-tax loss of £85.6m (2010: £97.2m profit) in the first half of the year but claims to be "heading towards the sunny uplands of profit".
Law report: Price put on purchase of accommodation too high rules judge
This law report has been contributed by national law firm Berrymans Lace Mawer.
Metal theft on the rise as scrap prices increase
Risk management experts from Allianz are calling on brokers to be proactive about metal theft, following a spate of robberies that have left the company facing millions of pounds in losses.
Allianz selects repair partners
Allianz has selected building maintenance firm Mitie and insurance repair specialist MA Assist for its nationwide building repair.
Law report: Mary Poppins stunt claimant must take blame for accident
This law report has been contributed by national law firm Berrymans Lace Mawer.
RSA boss: CMCs not cause of referral fees
RSA's UK chief executive Adrian Brown has called for action against "hefty" lawyer fees and the amount they pay claims management companies rather than targeting CMCs themselves.
View from the top: Equality at the table
Insurance has long been a business that thrives on relationships, between brokers and insurers, brokers and clients and the holy grail of all three working together. These relationships vary in depth and longevity from the transactional to the long term…
LV backs fun run
LV has agreed to sponsor next year's Brentwood Half Marathon and Fun Run — an event that has raised more than £1m for the local rotary club over the past 30 years.
MYI global offering shake-up
Loss adjusting group McLarens Young International has ceased working with its affiliate partner in Canada with immediate effect and will shake-up other regions soon.
Gay-only deal website looks to add insurance products to portfolio
A former loss adjuster, who left the industry when his firm went bust to set up Europe's first gay-only deal website, is considering teaming up with insurers to expand.
Thistle aims high despite 2011 losses
JLT chief executive Dominic Burke claims full year trading profits at its underwriting agency Thistle Insurance will eclipse last year's £4.8m, despite making a £246 000 loss so far in 2011.