News
QBE appoints former Chubb director as Malaysia CEO
Australian insurer QBE has made a senior appointment in Malaysia.
Insurance Fraud Task Force calls on aggregators to use data sharing platforms
The Insurance Fraud Task Force has recommended that aggregators utilise software to weed out application fraud.
Gibraltar PCCs given permission to write third party business
Gibraltar Protected Cell Companies will now be permitted to write third party insurance business.
Trak Global reveals financing deal and restructure
Trak Global Group has secured a senior debt financing deal with HSBC and revealed a new group structure.
ERS sees profits plummet 280% from Ogden hit
ERS has seen a 280% fall in profits as the company suffered a hit from Ogden.
Towergate Underwriting launches Scandinavian MGA
Towergate Underwriting has launched an international managing general agent for Scandinavia.
Zurich UK takes £182m battering from Ogden change
Zurich UK took a £182.1m hit in H1 as a result of the change to the Ogden discount rate.
Deloitte partner Rakow fined £75,000 for misconduct
Deloitte partner James Rakow has been fined £75,000 for misconduct in relation to actuarial services provided to Equity Syndicate Management Limited.
Charles Taylor acquires Criterion for £13.1m
Charles Taylor has bought specialist loss adjuster Criterion Adjusters for up to £13.1m.
Zurich's first half global P&C profit falls 15%
Swiss insurance giant Zurich saw a 15% fall in pre-tax P&C global profit in the first half of the year.
Insurance United Against Dementia: How JLT Specialty is building a strategic partnership with Alzheimer's Society
As Insurance United Against Dementia looks to build on the momentum of its association with the British Insurance Awards, Jonathan Swift spoke to JLT Specialty about its tie up with IUAD's charity partner Alzheimer's Society.
Ping An launches emergency initiative after deadly Sichuan earthquake
Chinese insurance giant Ping An is waiving premiums and fast tracking claims following a deadly magnitude 6.6 earthquake in Jiuzhaigou, Sichuan during peak tourist season this week.
Munich Re's P&C profit drops 29% in first half; Ergo returns to profit
Global reinsurer Munich Re had a mixed first half to the year as the firm was hit by the London Grenfell Tower disaster as its primary insurer Ergo returned to profit.
PRA to consider insurers' Brexit contingency plans
More than 400 banks and insurers have submitted Brexit contingency plans to the regulator, as the UK looks to negotiate a favourable exit deal from the European Union.
Ageas faces further Ogden hit of up to €15m in second half
Ageas will see a further hit of up to €15m (£13.5m) in the second half of the year from the Ogden rate change.
Khaitan to head up RSA's GRS business
Ex-Aspen head of change, Anny Khaitan, has been appointed as chief operating officer of RSA’s Global Risk Solutions business, after joining the insurer in July 2017.
L&G sees GI profit drop of 48% from escape of water claims
Legal & General saw a 48% drop in profits for its general insurance unit due to higher than expected costs from escape of water claims.
Hastings vows further data investment as profit rises by 22.1%
Hastings has seen a 22.1% increase in H1 adjusted operating profit, as the company vowed to continue investment in its data-driven model.
Ageas UK sees profits fall after €31m Ogden hit and declining motor COR
Ageas UK continued to be hammered by the impact of the Ogden rate changes, with profits falling 73% in its H1 result.
AIG sees 87% spike in Greater China cyber enquiries following Wanna Cry
Following the global ransomware attack named as Wanna Cry in May Asian firms are becoming more interested in cyber insurance.
Over $10bn of China economic losses in six weeks, says Aon Benfield
Aon Benfield's nat cat experts Impact Forecasting has recorded over $10bn of economic losses in China over a six week summer period following heavy flooding.
CII sees profit dip due to change programme
The Chartered Insurance Institute has seen a 12% dip in pre-tax profits from the previous year.
GDPR consultation fails to address 'key concerns' of industry
The insurance industry has critcised the government statement of intent on the new data protection bill saying it fails to address concerns on processing sensitive data without obtaining explicit consent.
Businesses could face £17m fine for lack of cyber protection
Businesses that fail to protect their services from cyber attacks could face fines of up to £17 million, the Department for Digital, Culture, Media and Sport has warned.