News
Co-op offers claims service
Co-operative Legal Services is to target small and medium-sized brokers with its first outsourcing product.
Jelf CEO admits it will not lead on e-trading
Jelf chief executive Alex Alway has said the company will be a "fast follower" rather than a "first mover" in the development of an electronic trading proposition in the future.
Brokers targeted in £8m SME new business drive
Following the launch of its large corporate private medical insurance offering last May, National Friendly is set to take on the traditional cash plan market while setting its sights on expansion into long-term care.
RSA "ahead of curve" with cuts
RSA UK chief executive Adrian Brown has said the insurer's swingeing job cuts last year meant it was "ahead of the curve" in responding to the tough economic conditions.
Oil spill costs Catlin $40m
Catlin has estimated its exposure to the Deepwater Horizon oil disaster is approximately $40m (£27m) net of reinsurance and reinstatements.
Markel growth despite quake
Markel International reported a 13% growth in gross written premiums in the first quarter of the year to $208.2m (Q1 2009: $185.0m). However, the insurer's combined ratio deteriorated to 109% (Q1 2009: 97%), which it attributed to $17m or 12 points of…
XL boss bemoans 'heavy' Q1 catastrophe claims hit
XL Capital's property & casualty business's combined ratio slipped to 100.5% (Q1 2009: 92.1%) following what chief executive Mike McGavick described as "one of the heaviest levels of first quarter catastrophe activity in history".
Allianz hit by high cat losses
Allianz Group has reported that its property & casualty business wrote gross premiums written of €14.0bn (Q1 2009: €13.9bn) in the first quarter of 2010.
Solvency II could see MGA rise
The rise in capital requirements due to Solvency II could drive up the number of managing general agents in the UK market.
Intermediaries team up to make PMI sales push
Two independent health insurance intermediaries have teamed up to offer a range of cover for children and people who travel abroad for medical or cosmetic treatment.
Oil spill could cost $3.5bn
The Deepwater Horizon oil slick approaching the Louisiana coastline could cost the insurance industry $3.5bn (£2.3bn).
Dismore loses seat
Insurance issue campaigner Andrew Dismore has lost his Hendon seat to the Conservative candidate, Matthew Offord, by 106 votes following a recount.
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Election result raises concerns over insurance reforms
The lack of a clear election result has raised concerns of delays to much-needed insurance industry reform and thrown existing initiatives into doubt.
Allianz looks within to replace Axa defectee
Allianz commercial property manager Tony Hutchins is leaving the business to join Axa next month, Post has learnt.
CGS founders outline £2m plan for Quadra
The founders of Carr Greenwood Smith have vowed to win back old clients after returning to the market following their split from Merlin.
Solvency II fears
One third of UK insurers are not confident that the industry will be able to achieve compliance to the Solvency II rules by the 2012 European Union deadline.
Octagon offers van cover
Octagon Insurance has launched a van policy that will be sold via price comparison site Go Compare.
Bodies meet over ash
The British Insurance Brokers' Association, the Association of British Insurers, the Financial Ombudsman Service and the Financial Services Authority met on Tuesday to discuss the fallout from claims complaints arising from the volcanic ash disruption.
Aviva boss hails Q1 results as sign of revival
Aviva's UK general insurance boss has hailed its quarter one results as a sign the business has turned a corner.
Approval of Chubb's move into Lloyd's market imminent
US insurance giant Chubb is set to enter the Lloyd's market almost a decade after its failed bid to buy Hiscox. According to sources, Chubb has received conditional approval for market entry with full authorisation following a Financial Services…
NIG facing more cutsas RBSI sheds 2000
Broker-only insurer NIG could face a further rationalisation of staff and offices as part of a wider review of Royal Bank of Scotland Insurance, which will see its parent offshore for the first time.
Marsh opens network arm
The former managing director of Broker Network, Martyn Denney, has joined Marsh to head up a new network division.