News
Zurich profits fall 33% in Q1 as it suffers $517m nat cat loss
Zurich Financial Services Group (Zurich) today reported a 33% drop in business operating profit of $849m (Q1 2010: $1.3bn) and a 32% drop in net income after tax of USD $637m (q1 2010: $935m) for the three months ended March 31, 2011.
Editor's comment: tying the knot
The rest of the world may remain obsessed by romance or reactionaries but the UK insurance industry has unveiled its own all-consuming love affair this week. Acquisitions abound in the headlines and bullish talk is nothing short of bountiful.
R&Q: underwriting team hires will drive growth
Insurance investment company Randall & Quilter has outlined plans to boost its fledgling underwriting management division with new team hires during 2011.
Website Review: Bell Insurance
In the latest of its ongoing series, web performance specialist Gomez looks at Bell Insurance's website.
Bin Laden death will not affect terrorism rates
The death of Osama bin Laden is "unlikely to have a material effect" on terrorism insurance rates in the short term, market figures have said.
Towergate hints at global acquisition plans in 2011
Towergate Insurance Group has not ruled out an acquisition outside the UK before the recently refinanced consolidator achieves its long-term goal of flotation.
Rural reveals 5% agricultural market share aim
Specialist underwriting agency Rural Insurance is aiming to double its gross written premium and win a 5% share of the agricultural insurance market within three years.
Government claims ELIB plans are 'not forgotten'
The coalition government has been urged to make a decision on the Employers' Liability Insurance Bureau after maintaining a year-long silence on the issue.
AJ Gallagher beats 15% target in Q1
AJ Gallagher has recorded revenue of $446.9m (£269.7m) in the first quarter of the year, marking a $47m increase compared to the same period in 2010.
RSA targets HNW top spot after Oak deal
RSA is aiming to become the number one player in the high net worth market, following its acquisition of Oak Underwriting.
Career development & CSR: hospice charity target smashed as £250 000 raised in two years
Allianz Insurance has raised £250 000 for hospice care in less than two years, beating its self-imposed target.
Lawyers welcome joint RTA Portal funding proposals
Lawyers on both sides of the personal injury fence have welcomed proposals for the financial upkeep of the Ministry of Justice-supported road traffic accident portal to be shared.
Irish brokers wary of Quinn business model after takeover
Uncertainty remains over the business model of the former Quinn Insurance, following its takeover by Liberty Mutual and Anglo Irish Bank, according to Irish brokers.
Indie broker strengthens Scottish position
Central Insurance's £2.6m acquisition of Aberdeen broker Collins Halden & Burnett has cemented its position as Scotland's largest independent broker.
Career development & CSR: Harlequins stars tackle QBE questions
Staff at QBE's London office have been treated to some insight into teamwork and motivation from the stars of the rugby premiership.
Career development & CSR: finding & retaining the stars of the future
The global economy is still shaky, but showing signs of recovery. To manage to get through the recovery and lay the foundations for future success, organisations need the right talent in the right roles. That sounds like common sense, but more planning…
ARM launches building valuation service
Aspen Risk Management has launched a free building valuation assessment service for its broker partners and clients.
QBE sets sights on $5bn PCM target
QBE Europe's property, casualty and motor division has set its sights on becoming a $5bn (£3.03bn) business by the end of 2015. Ash Bathia, PCM chief underwriting officer, said the business is growing from its current premium level of $2.7bn, while still…
People moves - 5 May 2011
A round-up of people moves and new appointments in the industry, as featured in the 5 May 2011 edition of Post.
Allianz UK business confirms 2012 rebranding deadline
Mondial Assistance in the UK is to become Allianz Global Assistance by the end of 2012, it announced today.
Mapfre Q1 profits climb 13.5%
Spanish insurer Mapfre has posted post-tax profits of €310.1m (£279.2m) for the first quarter of 2011 – a 13.5% increase on the figure for 2010.
Marsh insurance arm sees 21% Q1 growth in Latin America
Marsh & McLennan's risk and insurance services revenue increased 10 percent to $1.6bn in the first quarter of 2011, or 4 percent on an underlying basis, it announced today.
Allianz: Q1 2011 profit to be close to Q1 2010 despite nat cat hit
Based on preliminary figures, Allianz achieved total revenues of nearly Euros 30bn in the first quarter of 2011, compared to Euros 30.6bn in the first quarter of 2010.
Allianz UK business confirms 2012 rebranding deadline
Mondial Assistance in the UK is to become Allianz Global Assistance by the end of 2012, it announced today.