News
SAS to create 150 jobs in Ireland amid €40m investment
Business analytics firm SAS will create 150 jobs over three years as part of the expansion of its operations in Ireland in an investment of around €40m (£29.1m).
LV's H1 operating profit leaps 52% to £70m
LV has reported a 52% increase in operating profit for the six months ending 30 June 2015 to £70m from £46m in the same period of 2014.
Mitsui confirms £3.47bn Amlin acquisition
Japanese insurer Mitsui Sumitomo Insurance Company has reached an agreement to acquire the entire share capital of London-headquartered Amlin for 670p per share in cash.
RSA sells Latin American operations
RSA has sold its Latin American operations to Colombia's GrupoSura for around £403m in cash.
Mitsui Sumitomo in talks to buy Amlin
Japan's Mitsui Sumitomo is in talks to buy Lloyd's (re)insurer Amlin according to Nikkei.
Elite follows Helphire in exiting 'commercially unviable' GTA
Elite Insurance Company has withdrawn its subscription to the General Terms of Agreement, with the insurer’s CEO describing the cost benefit of using the agreement as “commercially unviable”.
IFB's Cheatline received 500 reports per month in 2014
Honest consumers are taking a stand against insurance cheats by reporting known fraud cases to the Insurance Fraud Bureau’s confidential Cheatline, new data has shown.
ABI urges MOJ to regulate MROs in Medco review
The Association of British Insurers is calling for the regulation of medical reporting agencies in its submission to the Ministry of Justice review of the operation of Medco.
County Group eyes further acqusitions following hire of Swinton M&A boss
Former Swinton acquisitions manager Keith Frost has joined The County Group amid plans to support the firm’s appetite to acquire UK based brokers.
MIB targeting young drivers as uninsured driving increases
The Motor Insurers' Bureau has launched its first national awareness campaign in three years due to an increase in the number of uninsured drivers on UK roads.
Bluefin appoints Thistle COO Watson as operational performance director
Thistle Insurance Services chief operating officer Anita Watson has been appointed to the newly created role of operational performance director at Bluefin.
Trust In Insurance: Blog: Trick or treat?
Insurers need to work harder to explain the intricate workings of the industry to customers.
Axa study calculates £34bn of savings from driverless HGVs
The development of automated haulage and logistics vehicles could save the haulage industry almost £34bn, according to a study undertaken by Axa UK.
Adjuster Woodgate and Clark bought by Dutch firm
Netherlands-based loss adjuster Van Ameyde Group has bought the entire shareholding of UK adjuster Woodgate and Clark.
Claimant lawyers and CMCs see PI advertising spend reach £76m in 2014
Claimant lawyers' spending on personal injury and clinical negligence advertising increased 182% between 2010 and 2014 reflecting the impact of the 2013 referral fee ban on the market.
14 million UK motor policyholders tipped to switch provider per year
Up to 320 million motor insurance policies could be up for grabs across Europe by 2020, according to research by Deloitte, as an increased willingness to switch provider takes hold across the continent.
Decline in car sales to hurt premium growth in Malaysia, says MII
The Malaysian Insurance Institute is warning that premium growth in Malaysia will slow over the next few years as the appetite for new cars declines.
Generali appoints Spence as head of Asia M&A
Generali Asia has appointed John Spence as regional head of mergers and acquisitions and strategy.
UK flood risk map incorporates groundwater data
Flood risk consultancy Ambiental has added groundwater data to its UK map, claiming it improves the way insurers assess flood risk at the individual address/building level.
Tianjin explosions could cost up to $3.3bn
The Tianjin explosions have caused potential losses estimated to range from $1.6bn to $3.3bn (£1bn to £2.2bn), according to Guy Carpenter, with the firm adding the Chinese port blasts are "set to become one of Asia's largest manmade loss events."
Hiscox names Eva Berg-Winters as head of UK claims
Hiscox has appointed strategy consultants OC&C’s associate partner Eva Berg-Winters as head of UK claims.
Quindell exploring name change as Rose takes aim at ex-CEO Terry
Former Quindell CEO and chairman Rob Terry has come under fire from non-executive chairman Richard Rose, who has revealed the troubled outsourcer will change its name later this year.
Markerstudy acquires Birmingham broker Lionheart
Markerstudy has gained approval from the Financial Conduct Authority to acquire Birmingham-based Lionheart Insurance.
Insurers remain at odds with Apil over whiplash figures despite talk of collaboration
Insurers have welcomed calls by the president of the Association of Personal Injury Lawyers for greater collaboration, but have roundly rejected his argument that whiplash claims are on a downward trajectory.