News
Zurich property boss Leslie joins Tokio Marine Europe as CUO
Tokio Marine Europe has appointed Zurich’s head of property lines for global corporate business Peter Leslie as chief underwriting officer.
Aviva uncovers 19% rise in fraud in 2013
British insurer Aviva detected over £110m worth of insurance fraud in 2013 – a 19% increase compared with 2012.
73% of brokers say regulation hitting customer service
Almost three quarters of intermediaries have warned that the weight of regulation is damaging insurers' customer service, in a survey conducted by EDM Group, Post can reveal.
Covéa posts £15m profit for 2013 but sees GWP shrink 17%
Covéa Insurance posted a technical account profit of £15m for 2013, its first full year results since the merger of the MMA Insurance, Provident Insurance and Gateway Insurance businesses.
VRS Vericlaim promotes liability boss to quality role
VRS Vericlaim has handed a promotion to head of liability Phil Heron, who will now serve as head of quality at the adjuster.
Barbon finance boss resurfaces as Gallagher UK retail FD
Barbon financial director Kevin Withington has taken on a new role as Gallagher’s UK retail financial director.
Ad watchdog backs Homeserve on water supply complaint
The Advertising Standards Agency has rejected a complaint the accuracy of direct mailings from Homeserve relating to the scale of water supply problems.
Money Supermarket insurance prospects boosted by Google deal
Money Supermarket has said that it expects insurance comparison revenue to improve after resolving a dispute with Google on search listings.
JLT creates Hong Kong political and credit risk team
JLT has created a credit, political and security risks team in Hong Kong by hiring Edmond Yun as divisional director, and employing Stephen Chan and Koh Wei Jun as account managers.
Asia-Pacific significantly underinsured for catastrophes, says Asia Development Bank
The Asian Development Bank has warned in a report that underinsurance for natural catastrophes in the region is enough to wipe out economic gains from GDP.
Quindell shares plummet 39% on 'defamatory' research note
Quindell has condemned an analyst note by Gotham City Research as “highly defamatory” and “deliberately misrepresentative” after its share priced nosedived following the note’s publication.
Interconnected cyber risks could cause global crisis
Organisations must improve their response to cyber risks if they are to avoid a global shock similar to the 2008 financial crisis, insurer Zurich has warned.
Ascot founder Reith joins Amwins board
Ascot Underwriting’s founder Martin Reith is to join the Amwins board as an independent director.
Catastrophes 'manageable' as global reinsurers post solid profits
Global reinsurers posted solid underwriting gains in 2013, as catastrophe-related losses were manageable and loss reserve development remained favorable, according to Fitch.
Endurance slams 'entrenched' Aspen board after 'poison pill' rights plan
Endurance’s chief financial officer Michael McGuire has accused Aspen’s management of being “entrenched” and “not aligned with shareholder interests” after the firm continued to ward off its attempted takeover.
R&Q: active syndicate will hinder 2014 results
Randall and Quilter chief executive Ken Randall has told Post he does not expect to see the firm’s active syndicate boosting figures until 2015.
Lockton signs up to Biba PI panel for a further three years
The British Insurance Brokers' Association has renewed its professional indemnity accredited broker contract with Lockton for a further three years.
Liberty Specialty appoints Beechey in Asia financial risk role
Liberty Specialty Markets, in conjunction with Liberty International Underwriters Asia-Pacific, has appointed Andrew Beechey as head of global financial risks, Asia-Pacific.
R&Q pre-tax profits down 17% after ‘weak’ active syndicate results
Randall and Quilter has seen its pre-tax profits slide by almost a fifth, falling from £11.6m to £9.6m after the firm recorded weaker than expected results from active syndicate participations.
National Accident Helpline tipped for £100m IPO
National Accident Helpline has announced plans for an initial public offering, with reports valuing the company at £100m.
Esure & Endsleigh slammed on small print
Two Esure brands and Zurich-owned Endsleigh have been condemned by a consumer campaign group for “incomprehensible” terms and conditions in car insurance policies.
2013 motor results 'best since 2006'
Motor insurance results for last year represent the sector’s best underwriting performance since 2006 according to a study by EY.
China consults on cross-province internet life insurance
The China Insurance Regulatory Commission is consulting on allowing insurers to sell 'simple' life insurance products outside their provinces on the internet.
Zurich wants Shanghai branch and China acquisitions
Zurich is seeking a Shanghai branch and merger and acquisition opportunities in China.