News
LMA poll highlights casualty underwriters' fears for reinsurance market
The majority of casualty treaty underwriters polled by the Lloyd’s Market Association believe the international reinsurance market is in danger of repeating historical mistakes by offering more relaxed terms and conditions.
Build up to Aviva and Friends Life merger probed by FCA, claims report
The Financial Conduct Authority is investigating the build up to Aviva’s merger with Friends Life and has asked investment bankers involved in the deal to hand over records.
Octo Telematics unveils smartphone app at British Motor GP
Octo Telematics has launched a smartphone app that allows motorists to track, score and improve their driving and riding behaviour, while also delivering drivers with a qualified risk profile to its insurance partners.
RDG to bolster commercial and SME presence following Astle hire
Ageas’ head of broker development James Astle is to join insurance services firm Ryan Direct Group as broker development director for personal and commercial lines business.
Fosun's insurance profits increased 15-fold in first half
Chinese conglomerate Fosun's insurance profits in the first six months of 2015 climbed 1463% to 1.79bn yuan (£182m) compared to the same period last year.
QBE confirms Lingafelter appointment in Asia-Pacific
QBE has confirmed the appointment of Mark Lingafelter, previously managing director and CEO of Chubb in Australia.
Ageas sells Hong Kong division to Chinese private equity firm
Ageas has sold its Hong Kong division to China's largest private equity firm JD Capital for HK$10.7bn (£895m).
Peak Re grows strongly in Europe and the US
Hong Kong-based reinsurer Peak Re is growing strongly in Europe and the US.
Bollington back in the black in 2014 with £1.1m profit
Bollington Insurance Brokers has bounced back from a loss of £586,471 in 2013 to record an after tax profit of £1.1m for the year ended 31 December 2014.
Old wounds re-opened as Accident Exchange raises dishonest evidence concerns
Six years after the Autofocus fraud scandal, Accident Exchange is to write an open letter to defendant law firms and insurance companies it believes are engaged in dishonest car hire rate evidence activity.
Innovation Group in takeover talks with Carlyle
Software and outsourcing provider Innovation Group is in talks with US firm Carlyle about a potential takeover.
Allianz and BMW launch shortfall product covering up to 100% of invoice price
Allianz and BMW have launched a shortfall insurance product with which UK customers no longer need to select the traditional £10,000 or £20,000 worth of cover.
NAH data shows 92% of claimants in contact within first year of RTA
One of the personal injury firms behind the launch of the Ethical Marketing Charter has defended its record amid suggestions by insurers that the number of late claims has tripled in recent times.
Marock defends adjusting business as 'fundamentally sound' despite profit drop
Charles Taylor group CEO David Marock said the company's long-term strategy for its adjusting division will enable it to support its clients once the claims environment returns to a normal level.
Profits up 28% at Charles Taylor as group plots acquisitions
Professional services firm Charles Taylor has reported a 28.1% increase in pre-tax profits to £5.3m (H1 2014: £4.1m) alongside a 21.7% rise in revenue to £69.1m (H1 2014: £56.8m) for the first six months of 2015.
Asia storm surge risk exposure to grow exponentially by 2070, says OECD
Coastal risks are rising in Asia at a rapid rate according to new research.
Hastings uninterested in 'international forays', says Hoffman
Hastings has no plans to emulate its rivals and expand into overseas markets, according to CEO Gary Hoffman.
L&G to enter travel insurance market this year
Legal & General is to launch a travel insurance proposition later this year, Post can reveal.
Post week round-up
With no print issue this week the Post team has collated the most popular read articles, coupled with editorial top picks of the week. View the week in a snapshot of posts so you are kept up-to-date with the UK insurance market.
RSA in the news
RSA has been busy of late. Keep up to date with what has happened and is happening with our blog.
AM Best warns of limited investment options for insurers
European insurers are well positioned to withstand the current stock market volatility, having made significant changes to their investment portfolios in recent years, according to AM Best.
Iran sanctions removal may present early opportunity for EU insurance firms
Non-US owned insurance companies may look to steal a march on their competitors if sanctions prohibiting trading with Iran are not lifted simultaneously by all countries.
Quiz of the week - 27 July 2015
Test your knowledge of the week's insurance news with our quiz.
Two men jailed for 'cynical' scam to defraud Axa of £15k
A pair of opportunistic fraudsters who teamed up to con Axa out of £15,000 have been jailed for a total of 30 months at Teesside Crown Court.