News
China counts $33bn costs from major flooding
According to Aon Benfield's catastrophe modeling team Impact Forecasting the recent flooding in China could cost the country as much as $33bn (£25bn) in economic losses.
Improving operating structure and delivery key to RSA group's financial success says Lewis
Steve Lewis, CEO for UK & Western Europe, RSA, believes improving operational structure and delivery has been key to RSA's strong financial results for the first half of 2016.
Abbey Insurance Brokers appoints Hanna and McKelvey to its board
Abbey Insurance Brokers has made two new appointments to its board. Paul Hanna has been appointed managing director, while Jeni McKelvey has been promoted to personal lines director.
Asbestos victims face difficulty tracing employers as Companies House seeks to delete records
Thousands of seriously ill workers and bereaved families could have their efforts to seek redress against negligent employers severely hampered under new plans to delete Companies House records according to the Association of Personal Injury Lawyers.
Esure travel insurance to cover Zika cancellations
Esure travel insurance will be covering holiday cancellations for pregnant women who no longer want to travel to countries where the Zika virus has been detected.
Homeserve ‘good bad’ deal says Aviva’s UK GI CEO Holmes
Aviva’s Homeserve deal has been labelled a ‘good bad deal’ by UK General Insurance CEO after the partnership negatively affected the insurer's combined operating ratio by 1% in its interim results.
Aviva 'worst performing' UK insurer, says Bank of America Merrill Lynch
Bank of America Merrill Lynch has labelled Aviva's shares the "worst performing" among the UK insurer peer group as the firm released its first half results.
IUA at highest membership level for over a decade as two new members join from Norway and India
The International Underwriting Association has added two new members to its ranks, increasing its membership level to its highest in more than a decade.
Vienna Insurance Group aims for €400m profit in 2016 as it posts H1 results
Vienna Insurance Group has revealed consolidated profit before taxes of €200m (£168m) for the first half-year 2016.
Bupa sees profits fall despite revenue climb
Bupa saw revenue climb 7% at constant exchange rates in H1 2016, earning £5.3bn compared to £5bn for the same period last year.
So Sure to launch 'revolutionary' social peer-to-peer mobile insurance app
Managing general agent So Sure, which specialises in insuring mobile phones, is about to launch a new model of “social insurance” via an app-based peer-to-peer product.
Aviva's UK GI premiums rise 8% in first half
Aviva's UK general insurance business had a stable first half to the year despite the combined operating ratio climbing to 95.9% from 93.2% in H1 2015.
Aviva's global profits jump 13%; GI COR rises
Aviva had a mixed first half to the year as its life insurance division performed well and its general insurance profits fell.
RSA posts strong global first half results as pre-tax profit grows 20%
RSA's turnaround under CEO Stephen Hester has continued in the first half of 2016.
Suncorp's insurance profits fall 17.5% for full year
Adverse weather events meant Australian insurance giant Suncorp missed its full year catastrophe allowance by A$60m (£34m).
Compensation culture remains a challenge for insurers, says Axa UK’s Blanc
The compensation culture is still dogging the UK insurance industry and so the market must continue to price for it, according to Axa UK CEO Amanda Blanc.
Be Wiser launches low cost degree to bring young people to the industry
A bespoke, low cost degree launched by Be Wiser Insurance has welcomed its first entries.
Markel reports threefold increase in comprehensive income to shareholders
Markel has reported strong H1 2016 results, with a 307% increase in comprehensive income to shareholders from last year.
More than nine out of 10 winter flood claims now settled, says ABI
More than nine out of 10 claims following the winter storms have been fully or partly settled, the Association of British Insurers has said.
Novae's gross written premiums up by 10% in the first half of 2016
Novae Group has seen a 10% increase in its gross written premium in the first half of 2016.
Axa posts solid global first half results despite 'headwinds'
Axa's underlying profits were flat at €3.1bn (£2.6bn) in the first half of 2016 compared to the same period last year, with net income climbing 4% to €3.2bn.
AIG's global commercial premiums shrink 21% in Q2
AIG's shares climbed 2.5% in after hours trading after returning to profit in the second quarter of 2016.
Ageas launches app-based millennial insurer Back Me Up with monthly fee
A new app-based insurance start-up aimed at millennials has launched this week targeting the millions of 18 to 34-year-olds who do not currently buy contents, travel or device cover.
Emerald Life launch travel insurance for LGBT community
Emerald Life has launched into the travel insurance market with a first-time product to close the ‘insurance gap’ faced by the LGBT community.