News
Editor's comment: Slow demise or new dawn?
Six years ago, the Lloyd's Motor Underwriters Association was subsumed into the overall Lloyd's Market Association – a clear signal that a once powerful force in the car insurance arena had accepted its heyday was long behind it.
Tokio Marine Europe up nearly a quarter
Tokio Marine Europe has reported a turnover increase for 2011 of nearly 24% to £14.5m (2010: £11.7m), with operating profit leaping to £694 177 (2010: £118 622).
Yang Minsheng appointed chairman of China Life
China Life Insurance Group appointed Yang Mingsheng as chairman and executive director at its annual general meeting yesterday.
2012 British Insurance Awards shortlist revealed
Today Incisive Media insurance division editor-in-chief Jonathan Swift is proud to unveil the shortlist for the 2012 British Insurance Awards.
Motor book drives MMA leap in profits
MMA has reported a significant growth in profit after tax to £6.36m (2010: £1.14m) in its final set of annual results before it merges with Provident under the new Covea Insurance brand in September
Canopius shakes up UK property facilities underwriting team
Lloyd’s insurer has revamped its UK property facilities underwriting division with a string of new hires.
Hampden Underwriting posts a loss but vows to raise cash
Hampden Underwriting has posted a net loss of £387 000 (2010: £132 000) in its full year results citing last year’s catastrophes as the cause but the chairman has pledged to raise capital.
Vienna Group posts 6% increase in pre-tax profits for Q1
Vienna Insurance group built on strong full year 2011 results with a 6% increase in pre-tax profits to €151.4m in the first quarter of 2012.
Towergate’s McEwan heads to Giles
Following 10 years at Towergate, Giles has poached Alan McEwan to take on the role as regional managing director for Scotland and Northern Ireland.
CNA launches new transport and logistics product
CNA Insurance has unveiled a transport and logistics package aimed at fitting the specific risks and exposures of its clients.
Ace promotes Homan as Stibbards retires
Ace Group has named Mark Homan as executive vice president, casualty, for the insurer’s international insurance operations, from 1 July, 2012.
Euler Hermes and Mapfre enter credit joint venture
Allianz-owned credit insurer Euler Hermes and Spanish insurer Mapfre have agreed a 50/50 joint venture to develop their credit insurance business in Spain and four Latin American countries.
Faraday to use Agencyport platform
Faraday Group has selected Agencyport Software to provide a centralised platform to track and manage its delegated underwriting authority business.
Money Supermarket dominates Google search rankings a second time
Money Supermarket came top of the natural search rankings on Google searches for car, home and travel insurance for the second quarter running, online marketing solutions provider Gravytrain has revealed.
Xchanging targets North American growth
Business process outsourcing company Xchanging is to expand its insurance offering to the North American market.
Solvency II setbacks taking toll on insurer budgets
Rising numbers of insurers believe the industry will miss the January 2012 compliance deadline for Solvency II, according to a survey conducted by the Economist Intelligence Unit on behalf of Deloitte.
World Cup and Olympic fever fuels Brazil's general insurance growth
The 2014 FIFA World Cup and 2016 Olympic Games are proving to be catalysts for the growth prospects of Brazil's general insurance sector.
Euler Hermes ties up with Mapfre for Spain and Latin America push
Spanish insurer Mapfre and Allianz-owned credit insurer Euler Hermes have signed a 50/50 joint venture to develop their credit insurance business in Spain and four Latin American countries.
Deloitte reports growing number of insurers fear Solvency II delays
The latest edition of the annual Deloitte Solvency II survey shows that a rising number of insurers believe the industry will miss the January 2014 compliance deadline.
Innovation Group profits from insurance
Insurer software and services provider The Innovation Group has announced half year revenue up 10% to £94.8m (2011: £85.8m) and adjusted profit before tax up 16% to £7.3m (2011: £6.3m).
Zurich promotes two in global GI business
Zurich Insurance Group has named Swiss national Claudia Dill as chief operating officer for its general insurance business to replace Belgian national Dirk De Nil who becomes head of sales and distribution.
Minister Spelman hints at flood deal with ABI, rejecting pure risk-based pricing
Environment minister Caroline Spelman, pictured, has told the Association of British Insurers’ property conference that the idea of flooded households being left to fend for themselves is unacceptable.
Crawford to cull staff and six managers in three divisions
Crawford & Company could make up to six managers in its home, commercial and client teams redundant and axe a number of employees - less than a year since it cut 50 jobs.
Red 24 recruits German commander to tackle kidnap and ransom demands
Crisis management assistance company Red 24 has appointed Christopher Schramm as a crisis consultant specialising in kidnap for ransom and extortion, piracy and malicious product tampering.