News
Ecclesiastical hit with £419m catastrophe costs
Specialist insurer Ecclesiastical has managed to make a pre-tax profit of £15.6m despite a £7.6m loss in the first half of the year and catastrophe claims costs of £419m.
Aviva to launch new online brand 'Quote me happy'
Aviva has today announced that it will be launching a new car insurance brand catering for the growing number of customers who prefer to shop on price comparison sites.
Admiral unveils plans to expand US business
Admiral has defended its £90.7m net ancillary income claiming referral fees played a minor part in profit and have branded personal injury lawyers’ as the “root cause” of the problem.
Ex-Swiftcover CEO Blowers back with new online start-up - Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories which include online insurance broker Qmetric has been granted full Financial Services Authority approval and is said to be a “few weeks” away from adding three major…
Young Marmalade uses telematics to cut cost of car insurance
Young Marmalade bosses claim to have slashed insurance premiums for young drivers by 17% after introducing in-car ‘black box’ technology.
Aviva launches new online brand Quote Me Happy
Aviva today introduced a brand for internet shoppers who prefer to shop on price comparison sites and manage their insurance online.
Willis and Ace Europe claim London Market e-accounting first
The London-based operations of Ace and Willis today announced the successful launch of a full electronic accounting process between the two companies - a London Market Group (LMG) non bureau project first.
Ageas states commitment to commercial lines
Speaking following the release of its half year results for 2011, which saw the insurer report a profit of £23.7m, Barry Smith, chief executive of Ageas UK, told Post that whilst the growth in commercial is “encouraging” there is still a lot more to do.
Willis and Ace Europe claim London Market e-accounting first
The London-based operations of Ace and Willis today announced the successful launch of a full electronic accounting process between the two companies - a London Market Group (LMG) non bureau project first.
Magnitude 5.8 earthquake strikes Virginia
According to catastrophe modeling firm AIR Worldwide, the largest earthquake to strike Virginia in more than a century rattled buildings in downtown Richmond and caused evacuations across the east coast.
Post Office names head of insurance
Post Office Financial Services has confirmed the appointment of Rob Clarkson as its new insurance director.
Ace makes double environmental appointment
Ace has appointed Robert Wade and Hayley Dixon as underwriters in its environmental liability team.
Admiral shares fall 7.5% in early trades
Admiral shares was the biggest loser on Britain's benchmark FTSE 100 index in the first two hours or trading this morning.
Towergate makes corporate department addition in Perth
Towergate Insurance has today unveiled the appointment of Scott Brown, who moves to the firm from Giles Insurance Brokers.
Ageas UK reports £23.7m H1 insurance profit
Ageas UK has reported total income up 84.5% to £882.0m for the first six months of 2011 compared to same period 2010.
Admiral sees 38% jump in ancillary profit as it records £160.6m PBT at H1
Admiral has recorded a profit before tax at £160.6 million for the first six months of 2011, 27% ahead of H1 2010, while turnover rose 53% to £1.1bn.
Ex-Aviva CEO Snowball extends Suncorp contract until 2015
Suncorp Group Limited today announced chief executive Patrick Snowball would move from a fixed term employment contract to a rolling contract.
US insurers lost $27bn on H1 catastrophes
AM Best estimates US insurers’ pre-tax catastrophe-related losses in the first half of 2011, were $27bn, up $15.1bn, or 127%, from $11.9bn reported during the same period a year ago.
Cunningham Lindsey adjusters return from N Z to handle riots
A five-strong team of Cunningham Lindsey UK loss adjusters have returned from New Zealand following a two month “tour of duty”.
Zurich snaps up former Chubb HNW staff
Zurich has appointed Lennox Bunting as London market manager and Alan Gorman as senior development underwriter to the insurer’s private clients’ new London team.
Accenture ties up Duck Creek Technologies acquisition
Accenture has today finalised the acquisition of Duck Creek Technologies in a deal which will see 370 employees of the software solutions business in both the US and UK move companies.
G Cube increases wind and solar capacity
Renewable energy insurance specialist G Cube has increased its underwriting capacity for wind and solar projects to $680m (£411.3m).
Hurricane Irene gets stronger
Hurricane Irene has intensified to a category 2 hurricane and is expected to continue to strengthen, becoming a major hurricane of category 3 and above, warns Risk Management Solutions.
Motor insurers ease cover rules for volunteers
Motor insurers have given the green light to volunteers who want to use their cars to help out their local communities by promising not to charge extra premiums.