News
Guy Carpenter appointment signals focus on European casualty market
Guy Carpenter & Company has appointed Georg Fuelles as head of European casualty strategy.
LV investment return soars as 2012 floods take toll on COR
LV underwriting profit suffered a £25m hit last year, as the firm’s combined operating ratio increased to 99.7% (FY 2011: 97.7%) as a result of adverse weather conditions during large parts of 2012.
Hong Kong considers more regulation of investment-linked products
The Securities and Futures Commission, government and regulators in Hong Kong want more protection for investors in investment-linked insurance products.
QBE's 2012 profit below forecast; 700 jobs to be offshored
Global insurer QBE had an 8% increase in profit last year, but this fell below expectations as natural catastrophes hit the bottom line.
Indian insurers want tax breaks for personal insurance
The insurance industry in India is calling for tax breaks on personal cover such as home, personal accident and travel to help increase access to the products across the country.
SSL Claims inks CIOB partnership deal
Northampton-based loss adjuster SSL Claims has become the first loss adjuster to become a member of the Chartered Institute of Building.
UIB recruits to bolster international property plans
United Insurance Brokers has swooped to recruit Thompson Heath & Bond’s Grant English as a London market broker.
PWC pair named De Vert provisional liquidators
Shuttered Gibraltan insurance company De Vert has today seen two PWC managers appointed as joint provisional liquidators.
Shipowners commit to UK Club
The United Kingdom Mutual Steam Ship Assurance Association, better known as the UK P&I Club, has attracted over 3m gross tons of new tonnage, following the closure of renewal season on 20 February 2013.
Tokio Marine Europe recruits underwriters from QBE, RSA
Tokio Marine’s European operation has swooped to recruit two underwriters to bolster its UK team.
Generali bolstered by P&C growth in Germany and CEE countires
Generali has reported an increase in premiums to € 70bn (+3.2%) with a 3.3% growth in property & casualty to €22.8bn.
Brightside reaps benefits from One Insurance Solution rebrand
Brightside is already seeing benefits within its broking business since consolidating several of insurance products under the new One Insurance Solution brand less a fortnight ago.
Pound weakness presents HNW opportunity
The pound’s weakness is an opportunity for international high-net-worth providers, wholesale broker Markham Private Client has said.
Torrance praises Allianz "discipline" in commercial lines
Allianz has attributed its success in commercial lines to a “disciplined approach” in risk assessment and pricing.
Hiscox: UK downgrade could benefit shareholders
Hiscox chief executive Bronek Masojada has refused to panic over the loss of Moody’s AAA rating for the UK, saying the move may benefit shareholders.
Zurich warns firms to tackle rising levels of workplace stress
Stress levels, low morale and staff absence look set to continue to negatively impact the workplace unless the economic environment improves, Zurich has warned.
Go Skippy signs up two new partners
General Legal Protection has won a contract to provide breakdown cover to customers of online car insurance broker Go Skippy in a deal it claims is worth in excess of £600 000 over the next 12 months.
Allianz UK profit slides 4.3% to £161.5m
Allianz reported a 4.3% fall in operating profit to £161.5m in 2012 (2011: £168.7m). The insurer's combined ratio also deteriorated to 96.3% from 95.7% in 2011.
Hiscox profit soars to £217m
Hiscox has reported a pre-tax profit of £217.1m for the full-year 2012, dwarfing the 2011 result of £17.3m, and improving its group combined ratio by 14 percentage points to 85.5%. Gross written premium increased to £1.57bn (2011: £1.45bn).
Fonseca reveals three-step plan to becoming a broking powerhouse
Treating clients as partners, investing in the future and joining forces with peers from around the world are key to independent brokers becoming powerhouses of the global insurance industry.
Bluefin hires ex-Jelf pair for regional roles
Bluefin Insurance has announced a pair of regional appointments, Jim Pitchforth has been named development director in Birmingham, while Wendy Bushby has been hired as a commercial broker in Ludlow.
Ascot swings back to profit for 2012
AIG-backed Lloyd’s syndicate Ascot Underwriting has announced pre-tax profits of £93.3m.
Liberty Mutual subsidiaries to join RSA at the Walkie-Talkie
Liberty Syndicates and Liberty Mutual Insurance Europe have become the latest insurance operations to agree to let office space inside a soon-to-be completed London landmark known as the ‘Walkie-Talkie’.
Q-Re names CEO
Gunther Saacke has been appointed chief executive officer of Q-Re, a subsidiary of Qatar Insurance Company headquartered in Doha, Qutar.