News
AM Best places Ironshore under negative review after Fosun transaction
Ratings agency AM Best has placed specialty insurer Ironshore under negative review after the acquisition by Chinese conglomerate Fosun.
Less than 6% of SMEs have cyber insurance, says ABI Research
Global research firm ABI Research has found that less than 20% of large companies and less than 6% of SMEs have cyber insurance within the global insurance market.
Aon broking arms sees profits crash by a third to £178m in Q2 2015
Aon Risk Solutions has seen its profits drop by a third in the second quarter of 2015 to $279m (£178m)(Q2 2014: $417m) according to its latest results published today.
Buying RSA 'not the best option' for Zurich shareholders say analysts
The rationale for Zurich’s takeover of RSA has been questioned by analysts who suggest the insurer would be better served by returning excess capital to shareholders.
Manchester fraudsters sent to jail for whiplash scam
Five people from Manchester involved in a fraudulent whiplash claim scam have been jailed for a total of five years.
DLG's Maddock claims insurers have 'an obligation' to set up ABSs to ensure access to justice
Direct Line Group claims director Steve Maddock has hit back at suggestions alternative business structures fuel claims farming saying they are actually an effective tool in stopping spurious claims progressing.
Davies appointed as preferred loss adjuster by Anglian Water and United Utilities
Davies Group has been selected by Anglian Water Group and United Utilities as their preferred loss adjusting partner, following the completion of competitive tender processes.
Insurance quiz of the week - 31 July 2015
It’s that time to put your knowledge of this week’s insurance news stories to the test – and this time it’s not just for fun. It is serious.
Brit's first half profits crash 93% amid investment portfolio restructuring
First half after tax profits at Brit fell from $94.5m (£60.7m) in 2014 to $6.4m this year.
Leung to replace Choi as Hong Kong's insurance government head
John Leung is relocating from Taiwan to start as Hong Kong's commissioner of insurance on 19 August to replace Annie Choi.
Win England vs France rugby tickets by completing the Post quiz
For your chance to win a pair of tickets to the England vs France 2015 QBE International at Twickenham on 15 August complete this week's Post news quiz.
Zurich UKGI personal lines boss Holliday heads for the exit
Zurich UK general insurance CEO Vibhu Sharma has reassured brokers that service levels will not be impacted by the departure of UKGI personal lines and Endsleigh managing director Tim Holliday, who has stepped down “to pursue opportunities outside the…
Lloyd's to boost Malaysia presence as it applies for onshore licence
Lloyd's is to apply for an onshore reinsurance licence in Malaysia and open an office in Kuala Lumpur.
Generali reports record net profit despite mixed P&C performance
Italy’s Generali Group saw net profit grow 21.6% to €1.3bn (£0.91bn) in the first half of 2015, aided by strong growth in its life insurance business.
MARM elects new president
Ian-Edward Stafrace has been elected president of the Malta Association of Risk Management, the association that has been representing the risk management profession in the country since 2011.
Money Supermarket clocks 8% rise in insurance revenues
Revenues in Money Supermarket's insurance division grew 8% to £73.6m in the six months to 30 June 2015, while the group's post-tax profit jumped 44% to £30.2m.
Teleperformance to take over Liberty’s Northern Ireland contact centre
French outsourcing firm Teleperformance has struck a deal to manage Liberty Insurance's contact centre in Enniskillen, Northern Ireland.
Swiss Re delivers 11% boost to income despite 'economic uncertainty'
Swiss Re CEO Michel Liès has hailed his firm’s “solid set of figures” for the opening six months of 2015, amid “uncertainty about overall economic growth” around the world.
ABI urges government to tackle CMCs amid rising motor prices
The average price paid by motorists for an annual comprehensive motor insurance policy rose by 2.1% in Q2 compared to the first quarter of 2015.
Venetico to lead Generali's Asia commercial property underwriting
Industry veteran Joe Venetico has been appointed head of property underwriting, Asia for Generali global corporate and commercial.
Standfield to leave QBE to join Australia broker group
Post understands Shaun Standfield, QBE's chief underwriting officer for Asia, is to leave the insurer to join an Australian broking group.
Cyber attacks in Australia have tripled since 2011
Cyber attacks in Australia have tripled in three years from 313 in 2011 to 1131 last year according to the Australian Cyber Security Centre.
Fagen appointed QBE group chief strategy officer
Colin Fagen, QBE's CEO for Australia and New Zealand, has been appointed to a newly created role as group chief strategy officer.
Asta MGA enters solicitors' PI market with capacity from Great Lakes
Asta Capital has launched a new platform, called Asta Underwriting Management, to support the managing general agent market.