News
Baltic markets "not big enough to matter to PZU"
Polish insurer PZU’s plan to expand further into the Baltics is unlikely to add value to the group, according to Wood & Company analyst Mark Macrae.
AGCS grows Africa team
Allianz Global Corporate & Specialty has made several new hires as it looks to expand throughout the African continent.
Insurers struggle to match risk taking with appetite
Aligning risk taking with risk appetite has become a challenge for many insurers seeking to embed enterprise risk management practices, according to a survey conducted by Towers Watson.
Axa secures £150m capacity win
Axa Commercial Lines and Personal Intermediary will provide £150m capacity to Prestige Underwriting Services as part of a five-year deal.
Xchanging names Brit’s head of group services as Netsett boss
Technology provider Xchanging has recruited a new leader for its global net settlement platform Netsett in the form of Brit’s head of group services.
Lark posts strong 2012 results following Groupama MBO
The Lark Group increased turnover by 10.2%, reaching £23.7m in its first set of financial results following the completion of the management buy-out from Groupama.
Fraudulent claims prove tempting for motorists, says Go Compare
More than 6% of motorists surveyed by Go Compare said they would consider making a fraudulent insurance claim if the opportunity presented itself.
Insurers to avoid levies on insurance businesses
The International Association of Insurance Supervisors will not issue surcharges across all of insurers' businesses when it releases its findings on 20 March.
Disaster management initiative starts in Australia
The University of Melbourne, IBM and Australia's national research centre NICTA are developing the Australia Disaster Management Platform to help co-ordinate disaster rescue efforts.
Indian regulator reviews broker regulations
The Insurance Regulatory and Development Authority, India's insurance regulator, has formed a committee to review insurance broker regulations.
AA Insurance boss puzzled by timing of Transport Committee inquiry
AA Insurance director Simon Douglas has raised questions over the timing of a Transport Select Committee inquiry calling for evidence on reducing the number and costs of whiplash claims.
Zurich calls for advance way of diagnosing whiplash
Zurich has welcomed the Transport Select Committee’s inquiry into whiplash and called for a more advanced way of diagnosing and proving whiplash injuries.
World Bank and Eiopa commit to developing insurance globally
The European Insurance and Occupational Pensions Authority has joined forces with the World Bank on an initiative to develop the insurance sector.
DAS ready for new legal world with three new ATE products
Legal expenses insurer DAS plans to launch three new after-the-event products in April in response to a raft of new legislation.
Aviva: We are not anti-network
Aviva is confident it will not lose out on any relationships with individual brokers after it breaks ties with Willis Networks, according to the insurer's director of broker distribution, Phil Bayles.
Allianz forecasts stable operating profit in 2013
Allianz chief executive Michael Diekmann said today the firm expects operating profit in the region of €9.2bn in 2013.
Brokers herald White appointment as making 'perfect sense'
Broking bosses have thrown their support behind newly appointed British Insurance Brokers’ Association chief executive Steve White, with many describing the selection as making “perfect sense”.
Equity pair hit with Lloyd’s sanctions
Equity Red Star’s former active underwriter and finance director have been hit with Lloyd’s costs and barred from holding Lloyd’s director positions.
White replaces Galbraith as Biba CEO
Outgoing Biba chief executive Eric Galbraith is to be replaced by the industry body’s head of compliance and training Steve White.
IFB and Acpo to share fraud intelligence
The Insurance Fraud Bureau and the Association of Chief Police Officers have signed an agreement to share intelligence on organised criminal gangs and combat insurance fraud.
Hong Kong GI underwriting profit fell 36% in 2012
Last year the general insurance market in Hong Kong recorded a 13% growth in premiums over 2011, but a 36% fall in underwriting profitability.
50% growth in M&A transactional insurance in Asia, says Marsh
Global demand for transactional risk insurance grew by 41% last year as firms turned to insurance to protect large deals and cross-border acquisitions and sales, according to Marsh
Transport Select Committee seeks further whiplash feedback
The Transport Select Committee has responded to debate triggered by the Ministry of Justice’s whiplash consultation paper by calling for evidence on reducing the number and cost of whiplash claims.
QBE pulls plug on builder's indemnity cover in South Australia
QBE will stop offering builder's indemnity insurance in South Australia from 1 July as insolvencies rise.