News
Admiral remaining vigilant after Aviva data breach
Admiral has said it is actively working with claims teams to mitigate the risk of a potential data breach after Aviva sacked two employees for giving customer data to claims farming companies.
S&P upgrades LV outlook to reflect improved capital position
LV has seen its outlook boosted from ‘stable’ to ‘positive’ by ratings agency Standard & Poor’s.
L&G GI business trims 2013 COR to 84% but flood losses loom
Legal & General’s general insurance business recorded an improved combined operating ratio for 2013 of 84% (2012: 95%), while premiums were up 7% to £375m.
Bluefin forecasting slim MGA profits for 2014
Bluefin is not expecting its expanded managing general agent business to generate profits as activity ramps up through 2014.
Bluefin improves Ebitda as expenses drop
Bluefin has improved its profitability for 2013 after cutting £2.7m from expenses while revenues have remained flat.
Gable enters Swedish market
Gable Holdings has expanded its business into Sweden providing commercial combined products in the education and retail property sectors.
Guy Carp announces string of promotions
Guy Carpenter has appointed Massimo Reina as its Continental Europe, Middle East and North Africa chief executive among a string of other promotions within the business.
Admiral records 7% profit growth as reserve releases soar
Admiral Group today posted a 2013 pre-tax profit of £370m, a 7% increase on its 2012 result, in a year group chief executive Henry Engelhardt called a “baked potato”.
Cunningham Lindsey network halving drying times
Cunningham Lindsey’s managed contractor network Oriel has seen times for drying flood affected properties halved in pilot trials.
Airclaims boosts Latin America operations
McLarens owned specialist adjuster Airclaims has expanded its Latin American operations with the launch of a second office in Brazil alongside expansions in Mexico, Peru and Ecuador.
Concerns remain despite RSA CEO Hester unveiling strategic action plan
S&P upgrades insurer to ‘A’ as boss pledges to transform firm’s fortunes.
2013 results: insurers’ CORs boosted by benign weather but RSA takes £244m hit
Insurers’ full‑year results were bolstered by largely benign weather conditions last year as many firms sacrificed market share in motor and home segments to retain profitability.
Insurers and brokers urge Competition Commission to ban all MFN clauses
Fears a ban could harm price comparison websites misplaced.
CII to ‘name and shame’ firms that fail to get behind apprenticeship scheme
Industry bodies launch initiative aiming to double apprenticeships by 2017.
Novae's underwriting profit climbs 50%; pays special dividend
Novae Group's underwriting profit was £48.9m last year, an increase of 50% over 2012 when it recorded £32.6m. As a result the Lloyd's insurer is paying a special dividend of 20p a share.
Rajah & Tann hire 14 from Hunton & Williams in Bangkok
Singapore-based law firm Rajah & Tann has hired 14 lawyers from US-based law firm Hunton & Williams in Bangkok.
Woolgrove not applying for permanent Flood Re CEO post
Flood Re interim chief executive Tom Woolgrove will not be applying for the permanent post currently being recruited for, the Association of British Insurers has announced.
Mutual insurer FM global reports 32% income rise
Business property insurer FM Global recorded a 32% increase in its net income to $1.02bn (£611m) for 2013 alongside a 2.7% increase in gross written premium to $5.6bn.
JLT’s Burke taking break to reflect on 'work-life balance'
Jardine Lloyd Thompson group chief executive Dominic Burke’s two month hiatus from the role will give him a chance to concentrate on work-life balance before returning to the company for an agreed “indefinite period”, according to bosses at the broker.
Brit confirms plans for April float in London
Brit has confirmed plans to float on the London Stock Exchange in an initial public offering will come to fruition in April.
PPI issue far from being sorted, according to FOS
Payment protection insurance complaints made up 76% of all complaints referred to the Financial Ombudsman Service in the second half of 2013.
Bryant touted as Lloyd's Hong Kong frontrunner after leaving Zurich
Dylan Bryant is being touted as the frontrunner to become Lloyd's general representative in Hong Kong after leaving his role as regional head of IPZ customer, distribution and marketing, Asia-Pacific, Zurich.
RSA's Holliday-Williams to replace Woolgrove at DLG
UK personal lines managing director Tom Woolgrove is to leave Direct Line Group, and will be replaced by RSA Scandinavia chief executive Mike Holliday-Williams.
Gallagher hires Peppiatt for director role
Arthur J Gallagher has hired Sarah Peppiatt to take on the role of delegated authorities director.