News
FCA to pilot general insurance scorecards
The regulator has announced plans to pilot general insurance ‘scorecards’ on a select number of products.
Claims Club: Industry should be prepared for online court to become a reality in the near future
Insurers and their lawyers have been warned to take the prospect of an online court seriously and advised that the pace of change is likely to take many by surprise.
Claims Club: Late payment legislation to add ‘new pressure’ to difficult fraud cases
Insurers have been urged to prepare a late payment strategy now, after an insurance barrister warned the late payment clause, due to be introduced with the Enterprise Bill, will add additional pressures in suspected fraud cases.
Supreme Court ruling in Knauer could lead to 10% increase in reserves
A ruling by the Supreme Court looks set to add to insurers' difficulties in calculating what constitutes the appropriate lump sum to set aside for serious personal injury cases.
DLG storm losses total £130m and push commercial COR to 104%
The December 2015 floods in the UK pushed Direct Line Group's commercial combined operating ratio to 104.5% (2104: 98.8%) but CEO Paul Geddes said the company's results remain in line with competitors.
Starstone reports 383% jump in 2015 earnings
The Starstone Group has reported a significant increase in full-year net earnings for the year ended 31 December 2015 from $4.3m (£3m) in 2014 to $20.8m in 2015.
Money Supermarket reports 2% insurance revenue increase for 2015
Money Supermarket's insurance division reported a 2% increase in revenue for the year ended 31 December 2015 to £140.2m (2014: £138m).
JLT's profit falls 7% after "challenges" in UK & Ireland employee benefits unit
Global broker Jardine Lloyd Thompson's pre-tax profit fell 7% to £170.1m in 2015 compared with the 2014 fiscal period.
Panes begins McLarens' Asia-Pacific leadership role
Global loss adjuster McLarens has confirmed the appointment of two senior managers in Asia-Pacific.
Axa's Asia P&C GWP surpassed €1bn in 2015
Axa's property and casualty gross written premiums in Asia exceeded €1bn (£789m) in 2015 for the first time.
Zurich appoints Marguin as Asia-Pacific chief underwriting officer
Zurich has appointed Asia-Pacific chief financial officer Herve Marguin as its chief underwriting officer for the same region.
Swinton to close 130 branches by mid-2017
High-street broker Swinton is to reduce its branches from 325 to 195 by mid-2017.
Insurers face reserve increases after Supreme Court Knauer ruling
A seminal ruling by the Supreme Court last week means insurers potentially face substantive increases in claims costs on fatal accident claims.
New Hiscox MGA to focus on professional indemnity and motor
Hiscox will this year set up a managing general agent in the UK focusing on areas outside its underwriting appetite, including some classes of professional indemnity and motor insurance.
AA calls on Osborne to avoid another IPT hike
The AA is urging Chancellor of the Exchequer George Osborne, pictured, not to further increase insurance premium tax in the March budget.
Hiscox reports 6.5% pre-tax profit fall as GWP rises
Hiscox’s pre-tax profit dropped by £14.9m to £216.1m in 2015 as the company reported increased gross written premiums of £1.94bn (2014: £1.75bn).
Plum Underwriting buys R&Q MGA Synergy
Plum Underwriting has acquired specialist high-net-worth managing general agent Synergy Insurance Service from Randall & Quilter.
Markel appoints industry veteran Spencer as NED
Markel International has appointed former BMS CEO John Spencer as a non-executive director.
Video: Covéa Insurance CEO James Reader
Covéa Insurance CEO James Reader tells Post his plans for the next 12 months including the continuing integration of the Sterling business.
BGL group appoints Platt as CFO
BGL Group has appointed Dominic Platt as chief financial officer, subject to regulatory approval.
Century Underwriting launches professions division
Managing general agent Century Underwriting has launched a professional indemnity and directors' and officers' service in partnership with insurer Arch.
Britannia and UK P&I Club in merger talks
The boards of the Britannia Club and the UK P&I Club have entered into merger talks.
Career File: Body named Ten MD as Lee steps down
Ten Insurance managing director Malcolm Lee is stepping down from his post to be replaced by Alistair Body, who joined the company's board one year ago.
Skuld announces executive changes and 2016 renewals growth
Norwegian marine insurer Skuld has announced three changes to its management team including appointing Lars Dueled as chief underwriting officer.