News
Clear picks up Heartland Group
Independent broker Clear Insurance Management has acquired Leamington Spa-based Heartland Group.
Galactic loss and Antares explosion likely to put pressure on rates
The recent crash of the Virgin Galactic test flight and the Antares rocket explosion will put upward pressure on rates across the aviation sector, according to AM Best.
Equinox Global expands its presence in France
Equinox Global, the Lloyd’s cover holder, has appointed Vladimir Malenic at Equinox France, which recently moved into a new central Paris office.
Hiscox reports solid Q3 statement with broadly flat GWP
Hiscox has reported a slight dip in gross written premiums of £1.36bn (2013: £1.37bn) for the first nine months of the year to 30 September and claimed a disciplined approach in reinsurance was offset by steady growth in insurance lines.
Zurich unveils Hong Kong SME key person insurance product
Zurich has brought out a life insurance product for SMEs hit by the sudden death of a key executive, partner or shareholder.
ABI deems Medco software critical in whiplash fraud fight
The Association of British Insurers has deemed the development of an IT system designed to randomly allocate medical experts for soft tissue injury claims as critical in the reform of the medic-legal reporting system.
Mass slams government for endorsing 'compensation culture' claims
The new chair of the Motor Accident Solicitors Society has dismissed the notion of a compensation culture in the UK urging members of the organisation to fight to preserve the current system.
Dye confident Allianz will return to retail profitability for full year
Allianz UK CEO Jon Dye has stressed that the insurer still plans to return to underwriting profitability for its retail business in its full year results, despite notching a 100.2% combined operating ratio for the first nine months of the year.
Swiss Re deems year-to-date £2.1bn net income 'successful'
Swiss Re has reported net income of $3.3bn (£2.1bn) for the first nine months of 2014 with a third quarter net income of $1.2bn.
Allianz UK nine-month profit down £10m despite GWP improvement
Allianz has reported pre-tax profits down 9% at £117.2m in spite of gross written premiums increasing by £181m.
Equinox Global adds Amlin and The Channel Syndicate to panel
Lloyd’s coverholder Equinox Global has increased the number of carriers on its binder panel to nine after welcoming Amlin and The Channel Syndicate.
Q&A video: Crif Decision Solutions director Sara Costantini
Personal injury claims have been in the spotlight recently because they are one of the key areas to have been targeted by fraudsters.
Admiral Q3 turnover drops despite 10% increase in customer numbers
Admiral has seen group turnover decrease 3% to £513m in spite of a 10% increase in the insurer’s total number of customers, which reached 4.03m in Q3.
Panes takes on Asia CEO role at Crawford
Chris Panes has taken on the role of Asia CEO for loss adjuster Crawford after moving to Singapore at the beginning of the year.
IWDC14: Mapfre direct business 'on the right path' following DLG deal
Mapfre global direct insurance managing director Jose Luis Bernal has credited the acquisition of Direct Line Group’s German and Italian businesses with helping put his firm’s direct proposition “on the right path”.
Ex-Brightside placement boss Freer promises 'innovative' add-ons from new role
Christian Freer has pledged to bring add-ons of “real value” following his appointment as commercial director of Strategic Insurance Services.
RSA continuing UK motor withdrawal
RSA is continuing a drive to shrink its UK motor business, according to UK commercial lines managing director John Hancock, who told Post the insurer is constantly evaluating its pricing strategy.
Ferma calls for IBER renewal
The Federation of European Risk Management Associations has called for renewal of the Insurance Block Exemption Regulation for insurance and reinsurance pools.
71% of people say insurers use of social media unfair to check claims
Only 29% of insurance customers think it is fair for insurance companies to use social media posts to check the validity of claims, research from Consumer Intelligence shows.
IMD II heads for European Parliament negotiations
The second edition of the Insurance Mediation Directive is to head for the European Parliament for negotiations over adoption following approval from the European Council.
Experian and Confused partner on fraud detection offering
Experian is to work with aggregator Confused.com to offer insurers the ability to understand fraud risk at the point of quote, Post can reveal.
Markel sees income fall in Q3 but remains up over nine months
Markel International reported comprehensive income to shareholders of $36.5m for the third quarter of 2014, down from $144.4m (£22.8m) for the same period of 2013.
IWDC14: Commissions and Solvency II on Spanish regulator's agenda
Fees and commissions feature prominently on the Spanish insurance and pensions regulator’s agenda, despite a significant focus being placed on the transposition of Solvency II.
Munich Re hikes 2014 profit forecast beyond €3bn
Munich Re is confident it will now exceed a forecast full year profit of €3bn for 2014 following strong performance in Q3.