News
Personal injury lawyers disagree with MoJ stance on QOCS
Three quarters of personal injury law firms dispute the Ministry of Justice’s view that qualified one way costs shifting is an alternative to after the event insurance, according to a survey by law firm advisers O’Connors.
Howden unveils fine art and specie division
Howden Broking Group has launched its fine art and specie division, which will be led by managing director Mark Gregson who joins from Lloyd & Partners.
AIG UK trims COR to 84% as underwriting profit soars
AIG Europe chief executive Nicolas Aubert has heralded the “continued development” of the group’s UK business after it shaved 19 percentage points off its combined operating ratio to 84% last year.
Lloyds Banking Group accused of cutting PPI compensation
Lloyds Banking Group has been accused of cutting the level of compensation awarded to around 25% of payment protection insurance claimants.
Aviva sells Turkish GI business to PE consortium
Aviva has sold its Turkish general insurance business Aviva Sigorta A.Ş, to a private equity consortium led by EMF Capital Partners.
RSA launches £773m rights issue
RSA has launched a rights issue to raise £773m in proceeds - £748m net of expenses.
Zurich infographic: Managing modern construction challenges
The way in which work that is carried out in both the design and construction phases of a project is undergoing substantial change.
Regulators must prove value for money as costs hit £664m
The twin peaks regulatory system will need to demonstrate it is providing value for money after a National Audit Office report highlighted escalating running costs and concerns over staff capacity.
Marsh appoints Zhao as China chairman
Marsh has appointed Madam Zhao Shuxian as chairman of Marsh China. Starting this week, Zhao will be based in Beijing.
Claims Conference Asia 2014 attracts cream of claims professionals
Claims Conference Asia 2014 was held on 20 March in Hong Kong and attended by over 100 claims professionals from across the international claims market.
Thatcham urges government to back AEB scheme
Industry-funded research centre Thatcham is seeking government backing for a scheme to encourage motorists to buy cars with auto-emergency braking systems.
New data indicates Flight MH370 went down in Indian Ocean
New evidence has led officials investigating the disappearance of Malaysia Airlines flight MH370 to conclude that the plane crashed into the Indian ocean leaving no survivors.
Draper rejoins Chubb for casualty role
Chubb has appointed Dave Draper as its casualty manager for the UK and Ireland.
Allianz position on missing plane policy clarified as lead reinsurer
Allianz is the lead reinsurer on the hull and liability cover for Malaysia Airlines, rather than the lead insurer as previously reported, according to market sources.
Insurance growth action plan boosted by Brokerbility Academy
Brokerbility has launched an academy scheme in a bid to attract people of all ages into the insurance profession as part of the independent broking group's contribution to the government’s insurance growth action plan commitment.
Coface CEO eyes imminent IPO following 'good' 2013 results
Coface chief executive Jeam-Marc Pillu has turned his attention to launching an initial public offering in the first half of the year after achieving “strong” commercial growth in 2013.
RSA prepares to launch £775m rights issue
RSA is set to launch a £775m rights issue this week according to reports.
Ace hires Westwood for Birmingham role
Ace Group has appointed Matt Westwood as business development manager for Birmingham and the East Midlands.
Document fraud uncovered amid industry response to floods
Opportunistic fraudsters have been taking advantage of widespread flooding by lodging bogus commercial property and household claims, according to the Absolute Partnership.
TT Club builds UAE footprint
Freight transport insurer TT Club is expanding its presence in Dubai to support the club’s existing claims team in the United Arab Emirates.
Claims Conference Asia: 'Asia reclaiming its rightful place in history'
Duncan Howorth, JLT CEO, Asia, struck an optimistic note when talking about the rise of Asia at last week's Claims Conference Asia, but warned more sophisticated risk management will be needed.
Hong Kong passes 50% tax concession on captives
The Legislative Council of Hong Kong has passed a bill to revise the Inland Revenue Ordinance to provide captive insurers with a 50% concession on profits tax for their offshore risk business.
Ace rejigs financial lines team in Asia-Pacific
International insurer Ace has made several changes to its financial lines team in the Asia-Pacific region.
Allianz launches risk surveyor apprenticeship scheme
Allianz Commercial has announced five apprentices for the new risk surveyor apprenticeship scheme which will support chosen candidates to become experts in their field.