News
RSA continuing UK motor withdrawal
RSA is continuing a drive to shrink its UK motor business, according to UK commercial lines managing director John Hancock, who told Post the insurer is constantly evaluating its pricing strategy.
Ferma calls for IBER renewal
The Federation of European Risk Management Associations has called for renewal of the Insurance Block Exemption Regulation for insurance and reinsurance pools.
71% of people say insurers use of social media unfair to check claims
Only 29% of insurance customers think it is fair for insurance companies to use social media posts to check the validity of claims, research from Consumer Intelligence shows.
IMD II heads for European Parliament negotiations
The second edition of the Insurance Mediation Directive is to head for the European Parliament for negotiations over adoption following approval from the European Council.
Experian and Confused partner on fraud detection offering
Experian is to work with aggregator Confused.com to offer insurers the ability to understand fraud risk at the point of quote, Post can reveal.
Markel sees income fall in Q3 but remains up over nine months
Markel International reported comprehensive income to shareholders of $36.5m for the third quarter of 2014, down from $144.4m (£22.8m) for the same period of 2013.
IWDC14: Commissions and Solvency II on Spanish regulator's agenda
Fees and commissions feature prominently on the Spanish insurance and pensions regulator’s agenda, despite a significant focus being placed on the transposition of Solvency II.
Munich Re hikes 2014 profit forecast beyond €3bn
Munich Re is confident it will now exceed a forecast full year profit of €3bn for 2014 following strong performance in Q3.
IWDC14: Acquisition boom predicted as insurers look to bolster digital strategies
Digital start-up companies, telematics providers and aggregators are being increasingly targeted for acquisition by insurers that are planning to establish a stronger foothold within the evolving digital environment.
Davies Group appoints new head of subsidence
Loss adjusting firm Davies Group has appointed Greville Marchant as associate director and head of Davies subsidence and surveying.
Pool Re members urged to back amended retrocession deal
An extraordinary general meeting has been convened for members of government-backed terrorism facility Pool Re, following news that HM Treasury plans to amend the terms of its retrocession agreement.
First Central joins Biba
Motor broker First Central has joined the British Insurance Brokers’ Association, the trade body has announced.
Beazley premiums remain flat, despite 1% rate reductions
Specialist insurer Beazley has maintained premium levels after the first nine months of the year, despite noting continued pressure of rates.
Zurich UK profits up 19% in first nine months
Zurich’s UK general insurance business posted a 19% increase in business operating profit to £136m for the first three quarters of 2014, compared with £114m for the same period in 2013. Gross written premiums rose 2% on the first three quarters of 2013…
RSA notes ‘weak’ underwriting performance as premiums fall 9%
RSA has noted “weak” overall underwriting performance in Q3, with UK loss ratios coming in at higher than expected levels.
Heap returns to Equitas as CEO
Jeremy Heap has been appointed CEO of Equitas which manages the run off of the general insurance arm of the Lloyd's Names.
Spaven's broker role expands at AIG to South East Asia
AIG has expanded Scott Spaven's Singapore head of broker client management role to include South East Asia.
Zurich's global Q3 profits fall 6%
Zurich's global profits in Q3 2014 fell 6% compared to Q3 2013, however the insurer's overall profits are up so far this year.
Parsons promoted at AIG Hong Kong
Stephen Parsons, AIG's head of claims and operations for Hong Kong, has been promoted to deputy CEO.
Aviva names Birmingham and Luton as top crash-for-cash towns
Aviva has seen a 21% increase in organised fraud as it reveals Birmingham and Luton are the top two postal districts for crash-for-cash claims.
Cheesegrater cordoned off after steel bolts break
Two steel bolts have broken on London’s Cheesegrater building, home to Aon and Amlin, among other insurance businesses.
Lloyd's appoints Mark Cooper as first Dubai country manager
Lloyd's has appointed Mark Cooper to lead the market's new operation in the Dubai International Financial Centre effective February 2015.
Insurers sign up to cyber summit agreement with government
Twelve insurers have signed a joined pledge to more actively highlight cyber threats to UK businesses and work more closely with government to improve cyber security risk management.
Towergate's McAusland to run Tasker Insurance Norfolk office
Tasker Insurance Group has opened a Norfolk office to be led by former Towergate Risk Solutions managing director Alex McAusland.