News
Man-made disasters increase insured losses
Total economic losses from natural and man-made disasters will hit approximately $85bn (£56bn) this year, with $32bn of those losses covered by insurance.
Zurich to spend up to £702m on US agricultural insurer
Zurich's subsidiary, Zurich American Insurance Company, will buy US agricultural insurer Rural Community Insurance Services for up to $1.05bn (£702m) from Wells Fargo, which will strengthen its top five position in US commercial insurance.
High Court PI claims at a five year high, law firm finds
The number of personal injury claims at the High Court has reached its highest level in five years, according to figures obtained by law firm Nockolds.
ABI reassures policyholders they will not be affected by SII
UK insurers are well-prepared for the implementation of Solvency II capital rules on 1 January 2016, according to the Association of British Insurers, which has assured policyholders they will not notice any changes under the new scheme.
Two nominees for Zurich board announced
Zurich has proposed two new board members for election including former Standard Life CEO David Nish.
Quiz of the week - 18 December
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Major motor fraud ring in Wales busted by police
An investigation into a major crash-for-cash ring in Wales has led to 81 convictions, including some with substantial jail time, in the largest police operation into insurance fraud undertaken to date.
Fitch downgrades French non-life sector forecast
The French non-life insurance sector has seen a revised outlook to negative from Fitch Ratings, moving the sector from its previously stable rating.
Besso secures Clydesdale Bank funding
Besso has secured funding from Clydesdale Bank to support its growth strategy and build-out its expansion into new regions.
QBE succeeds in £500,000 contempt of court action
QBE has won a £500,000 contempt of court action against a customer, who was sentenced to an immediate three month custodial sentence on 15 December.
New CEO for Nordics, Russia and Turkey at AGCS
Peter Hecht-Hansen has been appointed CEO of Nordics, Russia & Turkey at Allianz Global Corporate & Specialty, subject to regulatory approval.
BLM becomes ABI’s first associate member
Law firm BLM has become the Association of British Insurers’ first associate member.
The Standard Syndicate increases reach Scandinavia
The Standard Syndicate 1884 has extended its distribution into Scandinavia, appointing Hydor AS as a Lloyd’s coverholder.
RSA lands Nationwide account from DLG
RSA will take over from Direct Line Group as underwriter for all of Nationwide’s home insurance products from 2017.
Nexus adds to specialist team with Millstream Underwriting
Nexus Underwriting Management has continued its growth, acquiring Millstream Underwriting today (17 December).
Covéa to enter direct motor market in 2016
Covéa Insurance will launch a direct motor insurance offering, with a live date planned for early 2016.
Insurers should prepare for claims after MPs' fracking decision
Insurers must brace themselves for claims from disgruntled homeowners and businesses following MPs voting today (16 December) to allow fracking under national parks in the UK.
Takeover date announced for Crane at LV
Mike Crane will officially take over as managing director at LV broker on 1 January next year.
Road cyclist Dowsett becomes Pedalsure ambassador
Road racing champion Alex Dowsett has become an ambassador for cycling insurer Pedalsure.
London market insurers look to investment returns to support 2016 profitability
One in four London market insurers will rely on investment returns to prop up profits in 2016 amid predicted premium rate reductions of more than 10%, according to a PWC review.
Lloyd's Probitas 1492 to increase general liability limit to £15m
Lloyd's syndicate Probitas 1492 is to increase its employers and general liability limit to £15m from 1 January 2016.
AA disputes Storm Desmond will lead to home premium hike
AA Insurance does not expect claims from Storm Desmond to result in widespread home insurance premium increases because the expected £250m of claims from the event are below the £1bn of claims needed to trigger across-the-board increases.
Ex-Zurich UK boss Smith joins Lockton as NED
Former Zurich UK general insurance CEO Dave Smith has joined broker Lockton Companies as a non-executive director advising the boards of Lockton and its managing general agency Mapledown Underwriting.
Review of the Year: General Insurance
The past year has been a rollercoaster ride for general insurers, with tough market conditions serving as a backdrop for highs, such as strategic consolidation and a £1bn whiplash windfall, and lows, including the Insurance Premium Tax hike and struggles…