News
Vienna Insurance Group subsidiary agrees Bulgarian acquisition
Vienna Insurance Group has agreed a deal to acquire Bulgarian firm UBB-AIG through its subsidiary, Bulstrad.
Shipowners' Mutual posts 94.6% COR after strategic withdrawal
Marine mutual Shipowners Club posted a combined ratio of 94.6% for the 12 months to February 2015, amid high business retention levels and increased membership numbers.
PICC is lead insurer for China Yangtze shipping disaster
PICC has confirmed it is the lead insurer for the stricken Eastern Star ship that sank in the Yangtze river on Monday night.
IAG's India stake increase on track after Indonesia buy
Insurance Australia Group is in advanced discussions to increase its stake in SBI General Insurance in India to 49%.
Suncorp invests A$75m to create "data lake"
Patrick Snowball, outgoing CEO of Suncorp, said the group is planning to invest in a suite of technologies to improve performance.
Go Skippy parent mulls overseas transfer of jobs as 150 staff are put on notice
UK Independence Party backer Arron Banks’ Eldon Insurance Services has put 150 UK-based employees on notice of redundancy as part of plans to potentially move work overseas, Post can reveal.
Four seriously injured after Alton Towers rollercoaster crash
Four people have been seriously injured after a rollercoaster carriage carrying sixteen people crashed into a stationary carriage at the Alton Towers theme park in Staffordshire.
Broking managerial merry-go-round a by-product of market consolidation
A managerial merry-go-round within the UK broking sector is being powered by a combination of increased consolidation and insurer preference, according to market insiders, who have raised questions over organic growth knowhow.
Covéa to decide on Sterling Insurance brand by end of Q3
Covéa will make a decision about whether to keep the Sterling name later in the year after it has consulted with brokers, its CEO has said.
Gable in talks to create UK motor underwriting operation
Gable Insurance is in discussions with former Service Insurance Company director Beverley Shreeve about creating an underwriting operation for UK motor under the Gable brand, Post understands.
Drone industry growth spurred by insurer support
The support of the insurance industry in providing insurance cover for drone technology has allowed for the rapid development of the unmanned aerial systems industry, according to a Marsh report.
FCA reconsiders claims ratios for add-on products following industry backlash
The Financial Conduct Authority has backed down from its intention to require general insurers to publish claims ratio information for add-on products and plans to publish a discussion paper addressing alternative options in “the coming weeks”.
CII claims group calls for flood certificate prototype by 2016
The Chartered Insurance Institute new generation claims group has set a deadline of 2016 for the creation of a flood resilience certificate for household properties.
China regulator starts taskforce for Yangtze cruise disaster
The China Insurance Regulatory Commission has launched an emergency taskforce after a ship carrying 458 people capsized in the Yangtze river last night (1 June).
BP Marsh increases profit to £4.9m for 2014
Niche venture capital provider BP Marsh & Partners posted profit after tax of £4.9m for the year to 31 January 2015, its audited financial results showed.
Aon Risk Services research finds SMEs ignoring internal risks
Small business leaders in the UK are more concerned with the impact of market and political risks than internal ones, according to new research from Aon Risk Solutions.
Hiscox CEO Masojada takes on NED role at Pool Re
Pool Re has appointed Hiscox CEO Bronek Masojada as non-executive director for the government-backed terrorism scheme.
Due diligence failings revealed by FCA’s delegated authority review
Many insurers and intermediaries are not adequately considering their regulatory obligations under delegated authority arrangements, according to the Financial Conduct Authority.
Disaster Response Forum 2015: As it happened
Couldn't make it to Post's Disaster: Risk and Response forum in London? Find out what went on with our blog.
Tourist dies in Thailand after uninsured bungee jump
A 25 year-old Kuwaiti has died after his bungee jump in Phuket ended tragically on 20 May.
Australia's insurers swamped by 160,000 claims from April and May storms
Australia's insurers are counting the cost of April and May after their insurance claims surpassed A$1.55bn (£780m).
Dickson to lead DAC Beachcroft's claims division
Craig Dickson has been appointed CEO of DAC Beachcroft's claims solutions group, replacing Bill Paton who resigned in November 2014.
IRS contributes half of Lark's turnover growth
Turnover at Lark Group rose 6.5% for the 12 months ended 31 December 2014 to £26.1m (2013: £24.5m).
Brendan McManus confirms new PIB role
Brendan McManus has confirmed that he is to join Chris Giles-backed broker start-up PIB.