News
Singapore syndicate expands underwriting capabilities
Watkins Syndicate Singapore, which represents Watkins Syndicate 457 at Lloyd's, has appointed two senior underwriters.
LAS agrees £35m Innovation Group sale
Innovation Group has agreed the £35m acquisition of LAS Claims Management, while also announcing a substantial expansion of its motor claims business.
Singapore employee benefits broker Pan bought by technology start-up
The Pan Group, one of the largest employee benefits brokers in Singapore, has been bought by ConneXionsAsia, a technology firm which owns an end-to-end employee benefits platform.
Aviva appoints CFO in Asia
Ken Rappold has been appointed as regional chief financial officer of Aviva Asia.
Majority of Chinese firms reduced payment times in 2013
According to trade credit insurer Euler Hermes, seven out of ten Chinese companies increased their turnover in 2013, with six out of ten firms reducing their outstanding payment days.
Appeal court's 'landmark decision' alleviates PI market pressure
The Court of Appeal’s decision to rule against the right of claimants to accept a pay-out awarded by the Financial Ombudsman Service before suing for the balance of loss in court will boost the embattled professional indemnity market, according to law…
Claims Portal service heads to tender
Claims Portal Ltd has invited suppliers to tender for the development and hosting of the claims portal.
Fraudster arrested in dawn raid receives suspended sentence
A fraudster who was arrested by the Insurance Fraud Enforcement Department during a dawn raid attended by Post received a suspended prison sentence at the Old Bailey today.
Beazley highlights lack of personal accident cover at Winter Olympics
Up to half of the 6000 athletes currently competing at the Winter Olympics in Sochi could be doing so without adequate personal accident insurance, according to Beazley.
Flood Re exceptions 'perverse' says Masojada
Hiscox chief executive Bronek Masojada has claimed that his insurer is keen to see all Flood Re exemptions abolished, not just those for homeowners at the top end of the council tax range.
Towers Watson adds to P&C team with senior hires
Towers Watson has appointed Charlie Kefford and Kirsty Gray to its UK property and casualty insurance senior management team.
One in six households face Flood Re exclusion, claims Hiscox
Hiscox is seeking urgent talks with government ministers ahead of the Water Bill passing through parliament, after claiming one in six households are currently excluded from Flood Re.
Beazley recruits Ark’s Gray as specialty underwriter
Beazley has named Ark Syndicate’s James Gray as a new specialty underwriter.
DAS promotes Harris to chief claims officer
DAS has promoted Ageas’ former head of operations for motor claims to a new role as chief claims officer.
African and Middle East terrorism on 12 month surge
Terrorist and insurgent attacks across Africa and the Middle East have rapidly increased in number over the last twelve months according to figures from IHS Jane’s terrorism and insurgency centre.
AIG axing 3% of global workforce
US insurance giant AIG is planning to cut about 3% of its global workforce, primarily in its property casualty unit, according to reports, in spite of full year profits of almost triple last year’s equivalent figures.
300 000 car accidents staged since 2009
An estimated 300 000 car accidents were staged in the past five years equating to over 1000 every week, according to research by insurer LV.
AIA agrees five year shirt sponsorship deal with Tottenham Hotspur
Hong Kong-based life and health insurer AIA is sponsoring Tottenham Hotspur's shirts in all competitions until the end of the 2018-2019 season from the beginning of the 2014-15 season.
2014 'a tipping point' says ABI boss Evans
Huw Evans, deputy director general of the Association of British Insurers, has warned this year will likely be critical to the future of the motor insurance industry.
Axa praises Canadian police after rare artefact is recovered
Axa Art has praised the efforts of its loss adjuster and police authorities in Canada following the recovery rare and valuable Persian Achaemenid bas-relief panel.
Lewis attributes Zurich's soaring profit to improved underwriting
Improved underwriting was the key factor in Zurich’s UK general insurance business recording its significant 53% profit jump, according to chief executive Steve Lewis.
Qatar Insurance Company buys Antares
Qatar Insurance Company is to enter the London market following the acquisition of the entire share capital of specialist insurer and reinsurer Antares.
Gumtree broker handed suspended jail sentence
A ghost broker who advertised worthless car insurance on Gumtree has been handed an eight month custodial sentence, suspended for two years.
Two men arrested amid investigation into data leak by Aviva staff
The Insurance Fraud Enforcement Department has confirmed two men were arrested and bailed as part of an investigation into two separate reports of theft of information at Aviva.