News
P&I Club reports $6.6m surplus
The London P&I Club produced a surplus of $6.6m (£3.9m) for the 2013/14 financial year as well increasing its free reserve to $160.6m.
TT Club reports 87.4% COR for 2013
The TT Club reported $186.3m (£108m) in gross written premiums for the year ended 31 December 2013 while maintaining its A- rating from AM Best.
MDS Portugal boss appointed to French network
MDS Portugal chief executive Jacqueline Legrand has been appointed Conseiller du Commerce Extérieur de la France in Portugal by French prime minister Manuel Valls.
Hiscox shareholders voice opposition to exec pay
More than 40% of Hiscox shareholder's voted in dissent of the company's remuneration policy at its recent annual general meeting.
QBE buys remaining 10% stake in Elders Insurance
Australian giant QBE now wholly owns Elders Insurance Underwriting Agency after buying a 10% stake from agribusiness Elders.
Market loss from Flight MH370 could reach $350m
Allianz has revealed the total claims cost for missing Malaysia Airlines flight MH370 could be as much as $350m (£208m).
BIBA Fever episode 4: Pills, thrills and headaches
It is the second day of the British Insurance Brokers’ Association conference in Manchester and there were some sore heads today as delegates assembled this morning to reflect on a night out in the city.
‘Walkie-Scorchie’ set for May glare fix
A London skyscraper will see work commence this month to prevent reflected glares which last year melted and warped the panels of a car.
Biba 2014: Deregulated insurance industry would be stronger, says Davis
The insurance industry would benefit from significant deregulation, former shadow home secretary David Davis MP has claimed.
Biba 2014: Axa approves second phase of transparency project
The second pilot phase of Axa's project to increase transparency in the claims process has been given the green light, with around 100 brokers set to take part.
Cooper Gay swoops for Marsh marine boss Gibbs
Cooper Gay has recruited Marsh’s managing director of global marine Charles Gibbs to head up its own aquatic operations.
Bluefin unveils group personal accident and travel insurance cover
Axa-owned broker Bluefin has unveiled a new personal accident and travel policy for small and medium sized businesses.
RSA promotes Price to exec committee
RSA has handed group chief information officer Darren Price a seat on its group executive committee, pending regulatory approval.
Water Bill handed Royal Assent
The Water Bill has completed the final stage in passing into law, bringing with it the official introduction of the Flood Re scheme.
Charles Taylor expands UK regional footprint with Knowles Loss Adjusters buy
Charles Taylor Adjusting has completed a deal to acquire property and casualty claims specialist Knowles Loss Adjusters.
Zurich UK GI profit falls 37% on flood losses
Zurich has seen its UK business operating profit fall by more than a third off the back of flooding over the first three months of the year.
Tulloch rules out ‘major’ UK cost reductions as Aviva GI book shrinks
Aviva UK general insurance chief executive Maurice Tulloch has said the firm has no plans for ‘major’ reductions in cost to counteract an 8% fall in net written premium recorded for Q1.
Aviva UK GI premiums shrink 8% as COR worsens
Aviva has seen its UK general insurance book shrink 8% in Q1 on a year on year basis, while underwriting performance has also worsened.
Giles parent records £72.5m Gallagher takeover charge
Giles parent Expectrum has taken a £72.5m charge on its sale to Arthur J Gallagher last year, according to recent accounts.
Zurich sees Q1 global premiums inch upwards
Zurich's gross written premiums and profits showed marginal progress for Q1 2014.
Hong Kong issues Vietnam travel warning
Following riots targeted at Chinese businesses, the Hong Kong government has raised a red warning (raised from amber) for travel to Vietnam.
Over $60m of damage from rain in Guangdong
Heavy rain over the last week in the Chinese province of Guangdong has seen 15 000 claims so far.
BIBA Fever episode 3: Mad for it in Manchester
The wait is finally over and the British Insurance Brokers’ Association conference in Manchester opened today for business.
Duggan seeking internal candidate to take over his Broker Network role
Broker Network has prioritised recruiting an internal candidate as Gary Duggan’s successor as chief executive and will begin its search next week.