News
Amazon on a recruitment drive as it takes aim at UK insurance market
Internet-sales giant Amazon is currently recruiting insurance professionals in a bid to disrupt the insurance market in countries throughout Europe.
Generali Q3 profits tumble 9.9% on Dutch sale loss
Generali posted a 9.9% drop in nine-month profits due to a loss on the sale of its Dutch business
Zurich sees P&C decline in EMEA
Zurich’s non-life premiums fell by 7% in EMEA over the past year.
PRA outlines supervisory framework for ILS
The Prudential Regulation Authority has published final rules setting out how it will authorise and supervise insurance special purpose vehicles, which will be used to issue insurance linked securities in the UK.
Munich Re posts €1.4bn Q3 loss as nat cats weigh on results
Munich Re has posted a €1.4bn (£1.2bn) loss for the third quarter as the impact of natural catastrophes in the US and Caribbean take their toll on results.
Bollington Wilson Group set for acquisitions in 2018
Bollington are set to make several acquisitions in the next 18 months following the group’s merger with Wilsons.
New add-ons provider aims to dispel 'Mickey Mouse' image, says founder Paul Muir
The founder of One Answer Network and One Answer Insurance is poised to roll out a new business that aims to remove the “Mickey Mouse” stigma of add-ons. With another lead generation start-up waiting in the wings.
Ageas UK sees profit again hammered by Ogden
Ageas UK saw its pre-tax profit fall by 56% as it said it still had €5m (£3.8m) to pay in relation to the Ogden rate change.
FCA launches wholesale broker sector market study
The Financial Conduct Authority has launched a market study “to assess how competition is working” in the wholesale insurance broker sector.
Esure reports strong growth despite drop in home policies
Esure has seen a 25.4% increase in gross written premiums over the past year, rising to £625.8m from £499m in Q3 2016.
ABI releases video urging no further IPT rises
The Association of British Insurers has launched a video urging the Chancellor not to increase Insurance Premium Tax in the November budget.
Asia Capital Re calls off sale
Singapore-based reinsurer Asia Capital Re has called off its sale to Chinese investors.
Yeung swaps Japan for China in Willis Towers Watson role
Evariste Yeung has left insurer AIG in Japan to become a consultant for Willis Towers Watson.
Starr leaves Lloyd's Singapore
Global insurer Starr has not been writing business from Lloyd's Singapore since December last year and has formally left the platform.
Industry working group to tackle fraud with behavioural science
An insurance industry working group will begin to explore how behavioural science can be used to tackle insurance fraud.
ABI calls on EIOPA to address 'flawed' risk margin
The Association of British Insurers has called on the European Insurance and Occupational Pensions Authority to address the "flawed" Solvency II risk margin.
JLT outlook remains confident as headwinds fail to hamper results
Insurance and reinsurance provider JLT does not expect the recent wave of natural disasters to affect its full year out-turn and believes it will deliver organic revenue growth for 2017.
Smart home insurer launches nationwide to provide quotes in under 60 seconds
Smart home insurance provider, Neos, has launched nationwide and will allow customers to manage their policies via an app.
Underwriter sentenced for scamming insurers
A former underwriter has been sentenced to 15 months in prison suspended for two years after pleading guilty to numerous false insurance claims.
Direct Line reports growth in its own-brand policies
Direct Line Group has reported growth among its direct own brand policies over the last year and claims to be on target to hit its desired combined operating ratio for 2017.
Higos marks third acquisition with Mellerups
Higos has acquired shooting and field sports specialists, Mellerup’s General Insurances, for an undisclosed sum.
Hiscox reports hardening in market due to catastrophes
Hiscox's London market business will increase its capacity by £450 million to £1.6 billion in anticipation of a market turn due to major catastrophe losses.
Aon New Zealand sued again over Canterbury earthquakes
Christchurch City Council is attempting to recover NZ$528m (£278m) from Aon New Zealand in a dispute over the global broker's handling of 2010-11 Canterbury earthquake claims.
Spaven takes on South East Asia financial lines role at AIG
US-headquartered global insurer AIG has given Scott Spaven, head of client and broker engagement for Singapore and South East Asia, additional responsibilities.