News
Shariah-compliant commercial products present 'sizable' opportunity for London
The opportunity presented by Islamic insurance products could help offset the London market’s declining share of premium in developing markets according to Max Taylor, chairman of the Islamic Insurance Association of London.
Swiss Re hails ‘strong’ first quarter
Swiss Re has reported a 17% increase in net income for the first quarter of 2015 and noted that all business units contributed to profitability
Saga sees full-year motor COR improve to 77.9%
Saga has reported a 10.5 percentage point improvement in its motor underwriting combined operating ratio to 77.9%, for the year ended 31 January 2015.
Changing face of terrorism sparks launch of Hiscox threat policy
Hiscox claims it is responding to “the changing nature of terrorism” with the launch of a product designed to protect businesses against the loss of revenue suffered as a result of a threat or hoax.
Aviva silent on exposure to French arbitrage life insurance contracts
Aviva failed to disclose the extent of its potential exposure to fixed-price arbitrage life insurance contracts despite intense questioning at its annual general meeting yesterday (29 April).
Money Supermarket insurance division reports 12% growth
The Money Supermarket insurance division reported 12% year-on-year growth for the three months ended 31 March 2015 with revenues of £36.8m for the period.
First quarter GWP down at Lancashire
Specialist insurer Lancashire has posted slight decreases in gross written premiums, profit after tax and net operating profit for the first quarter of 2015.
ABI unveils insurance priorities for next government
The Association of British Insurers has published a list of 10 insurance and savings priorities for the next government.
Collins appointed executive chairman of Hyperion
Dominic Collins, chairman of RK Harrison, has been appointed executive chairman of Hyperion following the completion of the merger between Hyperion and RK Harrison.
Three charged with insurance fraud in Singapore
Three men have been charged with making dishonest claims in a Singapore court yesterday (29 April).
Nepal's largest reinsurer cites $160m exposure to earthquake
The devastating earthquake in Nepal is expected to cost the largest reinsurer in the country GIC Re no more than $160m (£104m).
QBE targets 30% of Singapore's engineering and construction market
QBE has ambitious plans to grow strongly in engineering and construction in Singapore from 5% of the market to 30% by around 2021.
Gallagher court documents allege diverted Towergate purchase plan
Arthur J Gallagher has sued former employees David Ross and Mark Mugge and independent consultant Christopher Keey for breaching contractual, fiduciary and equitable obligations, the particulars of claim filed by the broker have revealed.
Bollington's Gratton announces retirement
Bollington product and underwriting director Bob Gratton is to retire in August, the company has announced.
Applied Systems to support Relay's push into Northern Irish market
US-based technology firm Applied Systems has struck a partnership deal designed to support Irish intermediary software provider Relay’s expansion into the Northern Irish market.
Maurice Tulloch handed Pool Re non-executive role
Aviva's UK and Ireland general insurance CEO Maurice Tulloch has been named as a non-executive director at Pool Re.
Euler Hermes Q1 revenues jump 5.1%
Trade credit insurer Euler Hermes has reported a 5.1% increase in revenues for the three months ended 31 March 2015 to €670m (£478m).
ABI premium tracker shows home rates down 2% in Q1
Home insurance rates continued to fall in the first quarter of 2015 with an average combined building and contents policy now costing 79 pence a day, figures from the Association of British Insurers showed.
CMA gives green light to Xchanging's purchase of Agencyport
Xchanging’s acquisition of Agencyport Europe has been cleared by the Competition and Markets Authority following an in-depth investigation by the regulator.
Willis predicts M&A momentum as group profits dip by 14.6%
Willis Group CEO Dominic Casserley has heralded a “solid start to the year” despite seeing his firm record a 14.6% fall in net income to $210m (£136.6m) for the opening quarter (Q1 2014: $246m).
New South Wales' storms to cost IAG A$300m
Insurance Australia Group is counting the cost of two damaging storms in the same week.
Zhang to exit Markel after Shanghai office opening
Steven Zhang, chief representative of Markel's Beijing office, will be leaving the company after helping establish the Shanghai office.
Philippines' GI profits surged in 2014 from low base
The Philippines' 65 general insurance companies profits in 2014 climbed to 2.4bn pesos (£35.4m) up 192% from 822m pesos of profit in 2013.
Innovation Broking will keep a low profile says Pearson
Former Oamps UK CEO Howard Pearson intends to keep a low profile following the launch of a broker with former Giles managing director Paul Dickson.