News
Esure aims for £1.14bn market cap
Esure has set its indicative price range for its proposed float at set at 240p to 310p per share.
Aviva's rating affirmed by S&P
Standard & Poor's has confirmed that Aviva's ratings and outlook are unaffected by the company's after-tax loss of £3bn for 2012.
Yu: 'Hong Kong employee compensation premiums underpriced'
Allan Yu, director of general business, Zurich and a member of the Hong Kong Federation of Insurers governing committee, urges tightening of oversight of personal injury claims.
Hong Kong insurers to participate in 270bn yuan market
The China Securities Regulation Commission is to allow Hong Kong insurers and Hong Kong branches of Chinese insurers to invest yuan raised offshore in the mainland.
Zurich disappointed with fraudster sentence
Having successfully defended a criminal case against crash for cash fraudster Mark Smith, Zurich has said it is disappointed that the fraudster did not receive a custodial sentence.
Italy's political shift could spur ecommerce
While the uncertain outcome of Italy’s February election may herald a worrying time for Eurozone politicians, the success of Beppe Grillo’s Five Stars Movement it could have a positive impact on the insurance market.
Italian insurers 'not interested' in professional indemnity cover
Italy’s new government should grasp the opportunity to 'revolutionise' the professional indemnity market, ensuring greater competition and increasing the availability of cover.
Kilpatrick appointed global markets exec for Dual International
Dual, the underwriting arm of Hyperion Group, is entering the next phase of its restructure following a strategic review.
Zurich wins crash-for-cash conviction
The driver of a Porsche who has admitted deliberately causing a crash with a council van has secured the City of London Police's Insurance Fraud Enforcement Department its first crash-for-cash conviction.
Spencer warns tough broker action ahead
Aviva UK & Ireland general insurance chief executive Robin Spencer has warned it will have to take some “tough calls” on its broker relationships if the insurer is to reduce its commercial lines combined operating ratio to a sub-100% position in 2013.
BGL reshuffles senior team following a departure
BGL has appointed a new group director of intermediated and group director of legal services and business as Martin Overton steps down from the latter role.
Insurers set to benefit from Scottish PI courts
The introduction of specialised personal injury courts in Scotland will benefit insurers, according to Bill Speirs from BTO solicitors.
Day joins Global Options advisory board
Global Options has appointed former Ace vice president Roger Day to its advisory board.
Zurich unveils Red Cross flood alliance
Zurich Insurance Group has formed a CHF 21m five-year alliance with the International Federation of Red Cross and Red Crescent Societies.
Novae 'rebalances' book to deliver £49m profit
Novae has reported underlying profit before tax of £49.3m (2011: £6m loss) while the underlying pre-tax return on equity was 17.6% (2011: negative return of 2.1%).
Zurich announces Red Cross alliance in flood resilience programme
Zurich has announced a CHF21m deal with the International Federation of Red Cross and Red Crescent Societies that will see the pair work to improve disaster risk reduction efforts.
Aviva hit by £3bn post-tax loss
Aviva has announced a full year total loss of £3bn (2011: £60m profit), alongside a 44% cut in its final dividend.
Direct Fleet eyes expansion with new role creation
Direct Fleet Insurance has today appointed Joanne Cassidy to the newly created role of renewals manager as part of its expansion strategy to grow its broker and insurer partnerships.
Global Options adds to advisory board
Global Options, a provider of special investigative unit services to the insurance community has appointed Roger Day to its advisory board.
IFB investigation leads to jail time for fraudsters
The insurance industry has demonstrated a “zero tolerance” stance towards fraud produces results, after two fraudsters responsible for handling “thousands” of fictitious or inflated personal injury and credit hire claims were sentenced to jail.
Success of Esure float boils down to accurate pricing in current market
Esure could err on the side of caution when it comes to pricing its stock as it aims to follow Direct Line Group onto the London Stock Exchange, analysts have suggested. The personal lines insurer confirmed plans to float as it revealed its 2011 result.
High-profile departures at Cunningham Lindsey raise questions of wider trend
A recent wave of departures from loss adjuster Cunningham Lindsey may represent senior management seeking to “cash out” following the arrival of a new parent in CVC Capital Partners last October.
Judical review rejection paves the way for Jackson reforms
The High Court’s rejection of a judicial review into the road traffic accident personal injury fees scheme has cleared the road for the implementation of the remaining civil justice reforms, unless an appeal is lodged.
Scottish sheriff courts to handle PI cases worth up to £150 000
Scottish defendant lawyers have backed proposals to introduce a specialist court to handle personal injury cases in Scotland.