News
Motor insurers record first profit in 20 years, claims EY
The motor insurance market has recorded its first underwriting profit since 1994, according to figures released by EY this morning.
Chinese regulator advises insurers to keep business separate
The China Insurance Regulatory Commission has sent draft guidelines to insurance companies advising them to keep insurance and non-insurance business separate.
Quindell targeting premium listing 'as soon as practicable'
Quindell has stressed its commitment to a premium listing on the London Stock Exchange, pledging to update investors in the next ten days.
PPO injury research to help insurers with future risk
The Institute and Faculty of Actuaries has developed a new categorisation for serious spinal and brain injuries aimed at helping insurers better estimate future liabilities.
Over 20 killed in terrorist attack at Karachi airport
At least 20 people have been killed including 10 militants following a terrorist attack on Pakistan's busiest airport.
Fosun eyes stake in South Korea insurer
Chinese conglomerate Fosun has joined the race for a minority stake in South Korean property and casualty insurer LIG.
Marine insurers given more autonomy in Shanghai
The China Insurance Regulatory Commission is allowing marine insurers and reinsurers in Shanghai more autonomy via the Shanghai Institute of Marine Insurance.
Industry welcomes government fraud action
Insurers have welcomed government measures to tackle insurance fraud announced today by Justice Secretary Chris Grayling.
MoJ plans strike out legislation for fraudulent claims
The Ministry of Justice is to step up its fight against fraudulent insurance claims by introducing legislation to require courts to reject entire compensation claims where a claimant has been “fundamentally” dishonest.
Law Commission drops third-party fraud project from reform programme
The Law Commission has confirmed strike-out legislation relating to third-party fraud will not be included in its 12th programme of law reform.
MIB hails continuous motor cover rules for Northern Ireland
The Motor Insurers’ Bureau has welcomed plans to consult on the introduction of a continuous insurance enforcement scheme in Northern Ireland, bringing the country in line with England, Scotland and Wales.
LV Broker unveils property investor cover
LV Broker has revealed a new cover for clients with large property portfolios in a bid to grow its commercial property offering.
Biba concerned by riot damages cap
The British Insurance Brokers' Association has expressed concern over the suggested cap on claiming compensation proposed by government in its overhaul of the Riot (Damages) Act.
SSP launches behavioural anti-fraud weapons
Software specialist SSP has unveiled a new anti-fraud solution that will tackle crooks through behavioural analytics.
IUA backs government cyber risk project
The International Underwriting Association has backed a new government project to promote better management of cyber risk.
Shell oil plant explosion leaves two injured
Two people have been injured in a fire after an explosion at a Shell oil plant in the Netherlands on Wednesday.
Claims Awards 2014 - winners announced
Ageas scooped two individual awards at the 2014 Post Claims Awards held in London last night (5 June).
Division of claims complaints costs unfair First 4 Lawyers says
Ministry of Justice proposals on how the Legal Ombudsman's costs for handling complaints against claims management companies are recovered disproportionately penalises those working in personal injury, First 4 Lawyers says.
AA planning £4bn IPO - reports
The AA's parent group Acromas is expected to announce a £4bn IPO of the insurer, according to reports.
JLT Specialty partners with Starr on solicitors' PI agreement
JLT Specialty has expanded its solictors' professional indemnity offering through a partnership with Starr Companies for four to 10 partner firms in England and Wales.
Expectations rise for FDI increase in India
Last week leading insurer CEOs in India met the new Finance Minister Arun Jaitley to give their views on the upcoming budget.
Dai-ichi Life buys Protective Life for $5.7bn
Japan's second largest life insurer Dai-ichi Life is purchasing 100% of Alabama-based life insurer Protective Life for ¥582.2bn ($5.7bn).
AIG names McNamee as Aubert's successor in UK MD role
Jacqueline McNamee will take over from Nicolas Aubert as AIG’s managing director for the UK.
Former Brit UK CEO Burrows departs Axa
The former chief executive of Brit Insurance UK has resigned his role non-executive director, ending a three tenure at the insurer.