News
Englehardt happy with 'good start' as Admiral turnover increases
Admiral chief executive Henry Englehardt says his full year expectations remain on track following a first quarter which yielded a 9% increase in group turnover from £539m in Q1 2011 to £586m.
Canopius swallows Omega for £164m
Omega bosses have agreed to a takeover by Canopius and will recommend the 67p a share cash offer in a deal worth £163.6m.
Claims Club News: RSA looks to improve retention levels among ‘Generation Y’
RSA has increased investment in motor e-claims to improve retention levels among Generation Y customers.
Claims Club News: Savill suggests light-touch approach to portal system
The insurance and claimant industries should consider a light-touch approach to improve the Road Traffic Accident Portal system, according to Lyons Davidson managing director Mark Savill.
Claims Club News: 92% of underwriting fraud matches go undetected
The Insurance Fraud Register reveals that current industry controls fail to uncover the vast majority of underwriting fraud matches.
RSA leads charge as Northern Ireland sheds no-go image among insurers
RSA last week pledged to invest £5m in Northern Ireland, intent on becoming the country's leading insurer, but local analysts are divided as to whether this will prompt a flurry of interest in the market or whether its small size will continue to…
Telematics will be compulsory within a decade, claims MDS boss
It could be impossible to get motor insurance without some sort of telematics device within 10 years, according to one provider.
ABI and credit hire firms establish working party for GTA portal
The Association of British Insurers and the credit hire industry have formed a working party to establish a general terms of agreement portal for road accident claims with hire charges.
Support for Direct Line Group's debt issuance plan 'delights' bosses
Direct Line Group bosses have expressed their "delight" after more than 40 financial institutions declared their support for the firm’s £500m planned subordinated debt issuance.
Aviva criticised for 'window dressing' in management reorganisation
Aviva chief executive Andrew Moss's announcement that Igal Mayer, executive director of Aviva Europe, was out on his ear as part of a reorganisation to cut out a £102m layer of management, came as a surprise.
Zurich scraps 393 jobs moving PL to Endsleigh
Zurich will axe more than 300 jobs by 2014 in a bid to transform its personal lines business.
Mediobanca execs resign from Generali board
Two board members of Italian insurer Assicurazioni Generali have resigned from their posts, ahead of a new law which limits cross-board membership of rival financial services institutions.
Judge lifts anonymity on Worboys' taxi insurer
Justice Silber has revealed that London-based Inceptum Insurance is the motor insurer being sued by victims of the so-called black cab rapist John Worboys.
Mapfre insures Iberia and LAN's aviation programmes
Mapfre Global Risks has agreed a three-year deal to insure the aviation risks in the insurance programmes of Iberia, Vueling, Air Nostruma and the newly created Iberia Express.
Nearly 80% of Islamic firms created a risk department in the past five years
The number of Islamic financial institutions employing dedicated risk managers has increased greatly since 2007, according to Deloitte Middle East's first Islamic Finance Risk Intelligence report.
Ace CEO marks 'strong start' following big profit rise
Ace boss Evan Greenburg has heralded his firm's "strong start to the year" after the Bermuda-based insurer posted first-quarter results showing a net income jump from $250m (£155m) to $973m (£604m).
Bankrupt broker boss faces jail
The owner of a liquidated insurance company sold "worthless" cover to customers and failed to pay Templeton Insurance £2.3m for underwriting its policies.
Second insurance summit set for May
The British Insurance Brokers' Association has confirmed that a second government-hosted insurance summit has been tabled for 2 May.
Robson named to head up claims at Brit
Brit Insurance has announced that Steve Robson, subject to Financial Services Authority approval, is set to take up the role of group head of claims.
EA issues eight new flood warnings
The Environment Agency has issued eight new flood warnings in south west England, a region currently in drought, the BBC has reported.
Axa linked to major capacity deal with Gallagher's OIM
Axa is reported to be close to signing a major capacity deal with A J Gallagher-owned managing general agent OIM.
L&G's solus adjuster Merlin to lose claims work in pilot
Legal & General has admitted that incumbent loss adjuster Merlin could see its contracted workload shrink when the six-month claim handling pilot kicks off next Tuesday.
UK 'pain in the neck culture' must end, says ABI
People claiming whiplash injuries should not be entitled to compensation unless there is objective evidence that they have suffered injury, according to the Association of British Insurers.
Atradius appoints D'Souza as Dubai country manager
Credit insurer Atradius has appointed Schuyler D'Souza as country manager for Dubai to support the company's growing business in the Middle East through regional partner Arab Orient.