News
Impact Forum: Insurers need to reclaim the aviation market
Insurers need to regain control of the aviation market before it is too late, according to Olivier Marre, senior vice-president of aviation at Allied World.
IT staff unconvinced on need to invest on cyber insurance
Nearly half of IT professionals polled by a software firm thought there was “insufficient need” to invest in cyber insurance.
Ageas keeps ties with Volkswagen after emissions scandal
The Volkswagen emissions scandal is to have no impact on its partnership with Ageas, the insurer has confirmed.
FCA sees 13.6% drop in GI complaints
Complaints to the Financial Conduct Authority about general insurance and "pure protection", a group that includes payment protection insurance, decreased by 13.6% in the first half of 2015.
Hastings to float with negative tangible equity, research house claims
Research firm Macquarie has predicted that the upcoming Hastings initial public offering will raise £180m for the company, but it will begin its life on the stock market with negative tangible equity.
TIFG to provide specialist insurance for Ski Club of Great Britain
The Ski Club of Great Britain has appointed Travel Insurance Facilities Group to launch a new suite of bespoke travel insurance products for the ski and snowboarding markets.
Broker Network MGA unveils eight core commercial products
Broker Network’s managing general agent Broker Network Underwriting has launched eight core commercial products underwritten by Ageas, Ace and QBE.
Quindell posts £35.5.m loss for H1
Quindell has posted a pre-tax loss of £35.5m for the six-month period ending 30 June 2015, compared to a loss of £25.6m in the same period in 2014.
Insurance results drives Saga performance
The motor and home insurance businesses at Saga have contributed to a strong groupwide performance in the six-month period ending 31 July 2015.
Ageas eyes Indonesia after Hong Kong sale
Ageas CEO Bart de Smet has said the insurer is interested in expanding in Asia's less developed markets.
No significant insurance losses from Typhoon Dujian, says AIR
Typhoon Dujian which hit Taiwan and China over the last few days brought strong wind and heavy rain but few insurance losses according to modeling firm AIR Worldwide.
Carney warns of climate change threat to insurers
Speaking at the annual Lloyd's of London dinner last night, Mark Carney, the governor of the Bank of England warned about the troubling financial implications of a changing climate for insurers.
Risk managers admit need for new skills in face of emerging risks
More than seven out of 10 (71%) risk managers consider their overall level of influence is greater now than it was three years ago, according to Ace European Group research.
Interview: Richard Bishop: Complex and compliant
Cobalt Underwriting founder Richard Bishop talks to Post about why he launched London’s first Islamic insurance managing general agent – and why London needs to stay relevant.
Penny Black's Insurance Week - 1 October 2015
Penny finds some things dreadfully predictable, including the way the English do things ‘a bit differently’.
Revised rehab code addresses loophole after ‘challenging' consultation
Those involved in putting the updated rehabilitation code together have conceded it was a "challenging" process to satisfy all parties ahead of the code becoming operational in December.
Warren Buffet reduces Munich Re shareholding
US investor Warren Buffet has reduced his shareholding in Munich Re, the German-based firm has said.
Brightside sees £43.7m loss for 2014
Broker Brightside Group has posted a £43.7m loss for the year ended 31 December 2014 compared to a profit of £7.7m in 2013, documents filed at Companies House have revealed.
Burke becomes CILA president with SCOR's Clark serving as deputy
Crawford & Company’s head of global markets Benedict Burke has been officially unveiled as the next president of the Chartered Institute of Loss Adjusters.
SRA urged by insurers to be tougher on solicitors facilitating fraud
High level talks between the Solicitors Regulation Authority and insurers are being arranged amid criticism of the legal watchdog’s ability and appetite to effectively regulate claimant solicitors suspected to be facilitating fraud.
D&O insurers facing VW payout as emissions scandal rumbles on
The increased use of technology in motor vehicles has been highlighted as a grey area in determining where product liability falls, in light of the Volkswagen emissions scandal, which will likely see directors and officers' insurers on the hook.
Impact Forum: Lloyd’s takes no nonsense approach to cyber
The Lloyd’s market is tackling cyber head-on as it aims to reduce the risk for its syndicates, according to Nick Beecroft, emerging risk and research specialist at Lloyd’s.
Career File: Brian Kirwan named CEO at AGCS UK
Allianz Global Corporate and Specialty has promoted Brian Kirwan, regional unit London head of market management and communications, to CEO of AGCS UK. He will report directly to Carsten Scheffel, chief regions and markets officer and member of the board…
Market Moves - 1 October 2015
Who has moved where in the world of insurance this week?