News
VFM claims first in escape of water desktop counter fraud solution
Counter fraud specialist VFM Services has unveiled what it claims is the first product to prevent insurance fraud on escape of water claims.
Allianz strengthens marine team with senior underwriter appointment
Allianz Global Corporate & Specialty has appointed Simon Hudson as senior marine liability underwriter.
Compass notches £500m GWP milestone
Arthur J Gallagher-owned network division Compass Broker Services now controls £505m in gross written premiums just over a year after its launch.
GAB joins customer service institute
GAB Robins has joined the Institute of Customers Services, committing to help all staff undertake targeted qualifications within two years.
Axa appoints RSA's Bromfield as Bristol branch manager
Axa has appointed Ian Bromfield as Bristol branch manager as part of plans to establish the operation as a full underwriting branch
Aviva reverses loss with £2.15bn profit but UK profit falls
Aviva delivered a post-tax profit of £2.15bn for 2013, reversing the loss of £2.93bn recorded in 2012.
JLT gains from employee benefits in Asia
JLT recorded a 45% increase in its employee benefits business revenues in Asia last year, of which 38% was organic.
Aviva Asia CEO hails strong growth
Aviva Asia delivered an increase of 52% in operating profit to £97m ($152m) over the course of 2013.
China regulator warns insurers on reputational risk
The China Insurance Regulatory Commission has issued a directive that insurers need to include reputational risk management in their risk management framework.
Zurich brand to disappear from comparison sites
Zurich-branded home and motor insurance products will no longer be offered on aggregator sites, the insurer announced today.
Allianz approved for ABS with Serious Law
Allianz has been granted an Alternative Business Structure licence, and will launch a partnership with catastrophic personal injury specialists Serious Law.
L&G under no pressure to raise property rates, claims GI boss
L&G general insurance director Mark Holweger claims his firm’s positive 2013 results has reduced the likelihood of increasing property rates over the coming year.
Broker Network recruits from NIG and Capital Markets to boost insurer relations teams
Broker Network has added two to its insurer relations team with appointments from NIG and Capital Markets Underwriting.
Novae optimistic on organic growth through 2014 says Fosh
Novae group chief executive Matthew Fosh has said the insurer and reinsurer is cautiously positive on prospects of further economic growth this year, in spite of “minefields”.
Carole Nash launches home insurance policy
Carole Nash has launched a home insurance policy for motorcycle owners with provision of secure storage for bikes if a policyholder’s home is rendered uninhabitable through a claim.
Howden poach JLT pair to head up construction division
Howden Broking Group has hired John Perrin and Paul Lewis from JLT to lead its newly launched construction division.
Admiral remaining vigilant after Aviva data breach
Admiral has said it is actively working with claims teams to mitigate the risk of a potential data breach after Aviva sacked two employees for giving customer data to claims farming companies.
S&P upgrades LV outlook to reflect improved capital position
LV has seen its outlook boosted from ‘stable’ to ‘positive’ by ratings agency Standard & Poor’s.
L&G GI business trims 2013 COR to 84% but flood losses loom
Legal & General’s general insurance business recorded an improved combined operating ratio for 2013 of 84% (2012: 95%), while premiums were up 7% to £375m.
Bluefin forecasting slim MGA profits for 2014
Bluefin is not expecting its expanded managing general agent business to generate profits as activity ramps up through 2014.
Bluefin improves Ebitda as expenses drop
Bluefin has improved its profitability for 2013 after cutting £2.7m from expenses while revenues have remained flat.
Gable enters Swedish market
Gable Holdings has expanded its business into Sweden providing commercial combined products in the education and retail property sectors.
Guy Carp announces string of promotions
Guy Carpenter has appointed Massimo Reina as its Continental Europe, Middle East and North Africa chief executive among a string of other promotions within the business.
Admiral records 7% profit growth as reserve releases soar
Admiral Group today posted a 2013 pre-tax profit of £370m, a 7% increase on its 2012 result, in a year group chief executive Henry Engelhardt called a “baked potato”.