News
CCV hires new operations director
CCV has appointed of David Bruce as operations director starting in April.
Questgates predicts influx of subsidence claims
Questgates has warned the insurance industry could be inundated with subsidence claims this year.
AM Best confirms RSA's A rating
AM Best has affirmed the A (Excellent) financial strength rating and 'a' issuer credit ratings of the main UK operating subsidiaries of RSA Insurance Group.
Lloyds bank puts £3.2bn price tag on PPI
Lloyds Banking Group has reported insurance premium income of £8170m (2010: £8148m) with claims of £6041m (2010: £19 088m) but said payment protection insurance provision had cost it £3.2bn.
Invicta buys home insurance book from IFA
Invicta Insurance Services is to buy the general insurance portfolio of Surrey-based financial adviser Financial Profiles.
RTA Portal and LSSA make "significant progress" in consultation
The RTA Portal and trade body the Legal Software Suppliers Association have made "significant progress" during its most recent consultation.
Motor injury claims cost consumers £1666 a minute
The legal fees involved in settling motor personal injury claims cost consumers £1666 every minute, the Association of British Insurers has found.
No extra money to be spent on RBSI rebrand
The insurer is making sure it is in "good shape" as it waits on the group to work out the exact nature of its divestment.
Catlin sponsors Great Barrier Reef scientific expedition
Catlin is sponsoring a scientific expedition that will document the composition and health of sections of the Great Barrier Reef across a range of depths.
IAG reports loss of $7m for H1 2012, as CEO hails improvement
Insurance Australia Group has reported that its UK arm made an underwriting loss of Au$7m for the six months to 31 December 2011.
Allianz revenues down 2.7% to €103.6bn
German general insurer Allianz reported a 2.7% reduction in revenues for the full year 2011, down to €103.6bn from €106.5bn in 2010.
Markerstudy backs ex-KGM underwriter's MGA
Former KGM underwriter Colin Hart has secured £25m underwriting capacity from Markerstudy for his UK motor managing general agent Xpekt.
RSA's Brown promises regional appetite while outlining commercial motor future
A 10% reduction in premiums within the regions "in no way shape or form" translates to a reduction in appetite at RSA, according to the firm's UK chief executive.
Cigna relocates Europe HQ to London
Insurer Cigna is relocating the European headquarters of its international health, life and accident business from Madrid to London in a bid to be closer to its largest revenue stream.
Assurant appoints European head of mobile business from Sony Ericsson
The European business unit of Assurant Solutions has appointed Nino Treusch as head of mobile business development for Europe.
Lancashire secures $75m additional capital for Japan renewals
Lancashire Holdings has said it will be able to deploy $75m additional capital for the 1 April Japanese market renewals after securing the extra capital from its Accordian sidecar investors.
Lancashire reveals $35m exposure to Costa Concordia
Lancashire Holdings has revealed, based on an industry loss of $850m, its exposure to the January Costa Concordia cruise ship loss is estimated to be approximately $35m net of reinsurance and reinstatement premiums.
Increased demand for credit policies from Malaysian SMEs
The Malaysian market is seeing an increased demand for trade credit insurance from exporters and SMEs amid the uncertain global economic environment.
Santalucía adopts SAS Risk Management for Solvency II
Spanish insurer Santalucía is to use SAS Risk Management for Insurance to help meet Solvency II, Pillar I requirements to manage risks and calculate metrics.
Agencyport hires new CFO
Agencyport, a software and services provider for the insurance and reinsurance industries, has appointed Richard F. Gilbody to chief financial officer and director of Agencyport Software.
RSA reports 58% increase in underwriting result to £375m
General insurer RSA reported a 58% increase in the underwriting result to £375m for the full year 2011, attributed partly to the successful growth of overseas operations.
Ecclesiastical launches campaign to save churches from metal theft
Ecclesiastical is set to invest £500 000 to fit roof alarms to the worst-hit churches.
Catlin sponsors scientific expedition
Catlin is set to be the sponsor of a scientific expedition that will include the first study to document the composition and health of sections of the Great Barrier Reef across a range of depths.
Allianz UK operating profit improves as group net income impacted by Greek debt
Allianz has reported that its UK business logged gross written premiums as stated of €534m in 2011 (2010: €485m).