News
QBE's first half profits fall 46%; Australia and New Zealand CEO exits
Australian giant QBE's 2016 first half after tax global profits declined 46% to $265m (£203m)compared with $488m in the same period last year.
Brokers welcome decision to abandon ‘unworkable’ client money rules
The financial services watchdog has abandoned a set of “almost unworkable” policy changes to how intermediaries handle client money.
Government accused of ‘watering down’ rules over sprinklers in schools
Insurers have accused the government of “watering down” rules over the installation of sprinklers in schools.
H1 catastrophe losses to exceed 2015, says Marsh
Global insured catastrophe losses have increased in the first half of 2016 to $27bn (£21bn) compared to $19bn (£15bn) in the first half of 2015, according to Marsh.
Zurich relaunches SME platform following negative feeback
Zurich has carried out a major refresh on its SME insurance platform Ztrade, in response to negative broker feedback following the platform’s original launch.
Hyperion and Eurossekuranz form strategic partnership
Hyperion Insurance Group has formed a strategic partnership with German broker Euroassekuranz Versicherungsmakler, subject to regulatory and financial approval.
PRIIPs deadlines putting pressure on financial services companies
Nine out of 10 financial services firms say they are concerned by the short deadline they have to produce paperwork for impending EU law on investment products.
Chubb's Keen promoted in Asia-Pacific
Global insurer Chubb has promoted Jason Keen to head of property and casualty for Asia-Pacific.
AIG sells US mortgage insurer to Arch
AIG has sold its US mortgage insurer United Guaranty to Arch Capital for $3.4bn (£2.6bn) subject to regulatory approval.
Heather Smith appointed to digital transformation director of LV GI
Heather Smith has been appointed to the newly created role of digital transformation director of LV’s general insurance arm.
Bermudian insurance giant behind largest UK insurtech start-up investment
Insurtech start-up Buzzmove has closed a £6m super-seed round led by Bermuda-based White Mountains Insurance Group.
Insurers could be hit by exposure to fossil fuel assets
Insurers could face billions of pounds of potential losses from investment in fossil fuels, as the sector has failed to carry out risk assessment on the impact of climate change regulation.
Abbey Insurance Brokers set to expand into Enniskillen
Abbey Insurance Brokers plans to set up a new branch as the broker expands further across Northern Ireland.
Post People 15-19 August
Check out this week's movers
Hiscox pledges to pay out in full on fair representation of risk cases under Insurance Act
Hiscox Insurance Company has made a pledge to pay claims in full to claimants that neither deliberately nor recklessly fail to make a fair representation of a risk under Insurance Act 2015.
Voyager Insurance Services launches new travel insurance product for high risk zones
Voyager Insurance Services is offering leisure travel insurance for people travelling to countries that are deemed ‘high risk’ by governments with its new product High Risk Voyager.
ABI appoints Tim Harris to chair of PFT committee
Tim Harris, group finance director of Royal London, has been appointed as the new chair of the Prudential, Financial and Taxation Committee and is joining the the Association of British Insurers'board.
Week in Post: Rio 2016, diving doggies, a racism row and rejoice, the Insurance Act is finally here!
You know you’ve been bitten by the Olympic bug when you find yourself watching the weightlifting at 1:30am in the morning, hours before you have an event and need to be pretty sharp.
Berenberg retains its 'sell' recommendation on Esure following results
Berenberg analysts have retained their “sell” recommendation on Esure following the insurer’s H1 results.
Broker Network appoints Paul Meehan as non-executive director
Broker Network has appointed Paul Meehan as independent non-executive director with immediate effect.
Insurance market prepared for Insurance Act finds Airmic survey
The Insurance Act has become official today and risk managers are confident insurers and brokers have prepared for the changes, according to research by the Association of Insurance and Risk Managers.
Biba calls on insurers to be clear on Insurance Act 2015
The British Insurance Brokers’ Association has called on insurers to be clear when they 'contract out' of parts of the Insurance Act 2015, which is implemented today.
Brexit will not affect UK Gibraltar business relationship, says Hastings
In light of Hasting’s strong financial results today, chief financial officer Richard Hoskins has said that the group is not concerned about Brexit affecting its growth.
AIG's work experience programme makes students u-turn on ruling out insurance as a career
Two-thirds of participants in AIG’s two-week work experience programme said they were "quite likely” or “very likely” to consider a job in insurance after completing the course, compared to 67% unknowns at the start.