News
R&Q warns profits to be hit by 'slow premium growth'
In a trading update issued ahead of its 2013 results, Randall and Quilter has warned that its live syndicate 1991 has shown slower than expected premium growth, with this likely to impact the group’s full year.
Aviva replaces Regan with former AIG bailout advisor
Aviva has replaced Pat Regan as chief financial officer with a leading member of the team which advised AIG through its 2008 bailout.
Claridge-Ware to leave Hong Kong
Christopher Claridge-Ware is to leave his position as CEO of Hong Kong international health broker CCW Global.
Allianz Global Corporate & Specialty's profits rise 16%
Operating profit at Allianz Global Corporate & Specialty in 2013 climbed 16% to €483m compared to €416m the previous year.
Miller combines P&C specialists into single unit
Broker Miller is combining its property and casualty specialists into one business area headed by Ken MacDonald.
Arron Banks's Eldon to appoint 30 motor claims handlers
Southern Rock claims brand Eldon is aiming to recruit 30 motor claims handlers this year following new business wins and increased demand from existing partners.
RSA's Irish business faces 'two year turnaround'
RSA's UK and Western Europe chief executive Adrian Brown said the firm's Irish business faces “a two year turnaround" before it is back on track.
Aviva eyes technology turnaround following CIO hire
Aviva has appointed former BT Retail managing director Monique Shivanandan as chief information officer.
Aviva’s Wilson demands prosecutions for data thieves
Aviva group chief executive Mark Wilson has demanded criminal prosecutions for individuals who pass on customer data to claims farming companies.
MIB and Experian agree five year MID partnership renewal
Experian has put pen to paper on a five year partnership renewal with the Motor Insurers’ Bureau to maintain the Motor Insurance Database.
Defra dismisses reports of Flood Re exclusion U-turn
The Department for Environment, Food and Rural Affairs has denied reports David Cameron is considering a U-turn on excluding high-net-worth homeowners from the Flood Re scheme.
Gallagher targets Scottish growth opportunities with array of hires
Arthur J Gallagher has expanded its retail business in Scotland with a string of new recruits in a bid to take advantage of “significant and immediate growth opportunities” north of the border.
Xchanging boss rolls out investment ahead of 2015 growth plans
Xchanging chief executive Ken Lever has described 2014 as a “year of investment” and has pledged £40m across the group with a prominent focus on insurance and technology.
Sime adds six to Zurich broker team in Scotland
Zurich has announced a number of additions to its leadership team for the Scottish broker market.
Allianz group profits hit £8.3bn in 2013 as UK income dips
Allianz Group chalked up 7.8% growth in operating profit of €10.1bn (£8.3bn) in a year in which revenues grew by 4.1% to €110.8bn.
Xchanging 'transformation' progress sparks 10% profit rise
Xchanging increased its operating profit by 10.1% to £55.5m last year alongside a 56% net cash increase to £120.1m.
Icelandic regulator revokes Eric's licence on solvency grounds
The European Risk Insurance Company has had its operating licence withdrawn by the Icelandic Financial Supervisory Authority as the unrated insurer no longer complies with minimum solvency requirements.
UK and Ireland at the core of Hester's 'self help' action plan
RSA group chief executive Stephen Hester has vowed to “grasp the nettles of both underperformance and undercapitalisation” by launching a strategic action plan in a bid to transform the insurer’s fortunes following “poor” 2013 results.
RSA's Asia division under review
RSA's Asia division is potentially up for sale after new group CEO Stephen Hester excluded the region from its core business strategy going forward.
RSA reports £244m loss as Hester says UK 'needs to improve'
RSA Group this morning reported a pre-tax loss of £244m in 2013 (2012: £448m profit).
RSA launches £775m rights issue
RSA is aiming to raise £775m in a rights issue, dispose of several geographic divisions and will not pay a dividend for 2013 after a pre-tax loss of £244m.
Ace rings senior changes in Asia-Pacific as it targets emerging markets
John French, Ace's country president of Hong Kong, Taiwan and Macau is leaving his role after seven years to move to Australia with the insurer.
Senior claims specialist moves from AIG to Allianz in Hong Kong
Patsy Wong has been recruited by Allianz Global Corporate & Specialty as head of long tail claims for Hong Kong and Greater China.
DLG boss Geddes admits 2014 COR expectation is weather dependent
Direct Line Group chief executive Paul Geddes has conceded hopes of achieving a combined operating ratio of between 95% and 97% for 2014 will hinge on the weather improving for the remainder of the year.