News
RSA returns to profit and targets further cost savings
RSA has posted a pre-tax profit of £275m, compared to the £244m loss it reported in 2013.
Asian insurers should invest in market disruption, says Towers Watson
Consultancy Towers Watson is urging insurers in Asia to become a market disruptor before being disrupted.
Willis lines up 49% stake in India's Almondz
Willis has agreed to purchase a 49% stake in Almondz Insurance Brokers subject to the Indian foreign investment cap being increased by Parliament.
Staysure stung with £175,000 ICO fine
Travel insurer Staysure has been fined £175,000 by the Information Commissioner's Office after IT security failings allowed hackers to access customer records.
Evans declares Axa five-year turnaround plan 'job done'
Axa UK and Ireland CEO Paul Evans has described the five year turnaround plan unveiled in 2011 as “job done” a year ahead of schedule.
Covéa confirms acquisition of Sterling
Covéa’s acquisition of Sterling has been given the green light by the Prudential Regulation Authority.
British entrepreneurs to benefit from £14.7m Axa start-up fund
Axa UK has pledged €20m (£14.7m) to boost the development of innovative ideas that could be used to benefit to the future of the insurance, healthcare and financial technology industries.
Brit's Cloutier confident despite tough market conditions
Brit group CEO Mark Cloutier has said he is not troubled by the market environment "being more and more difficult out there".
Axa chalks up fourth year of double digit profit growth in the UK
Axa’s UK and Ireland general insurance business recorded a fourth successive year of double digit earnings growth after chalking up a 40.4% rise in underlying earnings to £250m in 2014 (FY 2013: £178m).
Wilson promoted to Brit deputy CEO
Brit's chief underwriting officer Matthew Wilson has been been promoted to group deputy CEO alongside his existing role.
Brit 2014 profits climb 40% as investment returns skyrocket
UK-based insurer Brit's after tax profits were £139m last year compared to £99.5m the previous year, up 39.7%, as its investment returns rocketed 38.4% year on year.
Ace makes underwriting personnel changes in Australia
Ace has made several changes and promotions in its Australian underwriting team.
Berkshire Hathaway recruits from RSA and Swiss Re in Singapore
Berkshire Hathaway Specialty has continued its recruitment drive in Asia with two hires in Singapore.
Standard Club Asia starts shipping war risk mutual
Standard Club Asia has launched a Singapore-based war risk mutual for ships.
Chilton encouraged to answer retail question mark with senior hires
Arthur J Gallagher International CEO Grahame Chilton must prioritise replenishing his senior team if he is to thrive at the broker, according to market peers, who have highlighted a lack of UK retail experience as a potential obstacle.
Novae tipped as next listed player to be sold as Lloyd's consolidation hots up
Pressure on profitability in the Lloyd’s market has been cited among the main drivers for consolidation by analysts, with Novae tipped to become the latest listed player to be snapped up.
Aviva Investors fined £17.6m by FCA
The Financial Conduct Authority has fined Aviva Investors £17.6m for systems and controls failings that meant it failed to manage conflicts of interest fairly.
Online court proposal queried as a 'white elephant' for insurance claims
The proposal to introduce an online dispute resolution system for civil claims below £25,000 has been branded "overly ambitious" and a "potential white elephant" by industry commentators who have called for thorough testing before such a system is…
Detriment to genuine claimants cited as insurers push for industrial deafness reform
Claimant solicitors have told insurers to “stop bleating” about the need to introduce reform to address the growing number of industrial deafness claims, amid concerns regarding the impact on genuine claimants.
Money Supermarket lays down renewals challenge for insurers
Aggregator Money Supermarket is challenging the insurance industry to adopt eight recommendations it has put forward to make the auto-renewal process fairer for consumers.
Ascot and Beazley named among claims service improvers in Gracechurch report
Ascot, Beazley and RSA are among the London market insurers that have increased their net satisfaction ranking for claims service, according to research from Gracechurch consulting.
Ombudsman publishes complaints data for H2 2014
The Financial Ombudsman Service has published details of complaints it received from consumers in the second half of 2014.
Insurers tried to influence child abuse inquiries, says former social services director
Councils and insurers have been criticised following an investigation into the set-up of child abuse inquiries at children's homes.
Former FSA boss in frame to replace Lyons at Towergate
John Tiner, former CEO of the Financial Services Authority, is a contender to replace Alastair Lyons as chairman of Towergate according to a report.