News
Willis' European growth held back by declines in Spain and Netherlands
Willis Group has reported net income from continuing operations of $332m for the six months ended 30 June 2012, compared with $119m in the same period a year ago. Operating income increased to $496m (H1 2011: $395m).
Stobart Group to launch insurance broking arm
Logistics company Stobart Group is to launch an insurance broking arm following the success of its legal services business.
India's government U-turns on tanker exemption
The Indian government has said that permission for Indian tankers carrying Iranian crude will be given on a case-by-case basis, a shift in position from the general exemption declared previously.
Two-year wait ends as PI discount rate consultation launched
The Ministry of Justice has called on stakeholders to respond to the long-awaited discount rate consultation, which it finally launched yesterday.
Russia and Romania travel insurance markets thrive in economic crisis
Travel insurance in Russia, Romania and Turkey boomed between 2008 and 2012, despite the Eurozone crisis, while the UK and Ireland saw foreign travel decline, new research has revealed.
UK flood loss offsets growth for RSA
RSA has reported a 4% rise in net written premium to £4.3bn, at constant exchange (2% as reported), and a combined operating ratio of 95.2% (H1 2011: 93.2%).
Plumeri admits Willis' mettle has been 'tested' as revenue remains flat
Willis Group has reported net income from continuing operations of $332m for the six months ended 30 June 2012, compared with $119m in the same period a year ago. Operating income increased to $496m (H1 2011: $395m).
Law Report: Employment Tribunal decision upheld as claimant unfit to attend
Law reports contributed by national law firm Berrymans Lace Mawer.
Market moves: MGAs the main movers as three firms make new hires
While the Managing General Agents Association made the trade press this week, MGAs followed suit with several new hires at Pioneer Underwriting, Asta and Sagicor at Lloyd's.
Law Report: Costs case referred to Registrar of Criminal Appeals
Law reports contributed by national law firm Berrymans Lace Mawer.
Law Report: Court dismisses builder's appeals
Law reports contributed by national law firm Berrymans Lace Mawer.
Website review: MoneySupermarket.com
Web performance specialist Compuware Gomez puts the aggregator to the test.
Aon looking ahead despite drop in half-year income
Aon's operating income from continuing operations fell 3% to $504m (£321m) in the first half of 2012, compared with $518m in the same period in 2011, despite total revenue growth of 2% to $5.66bn (H1 2011: $5.57bn).
JLT enjoys revenue boost in broking as economy afflicts underwriting
Jardine Lloyd Thompson's risk and insurance business generated revenue growth of 8% to £331.6m, while trading profit increased to £80.3m (H1 2011: £70.4m) in the first half of 2012.
FSCS levy proposals could see MGAs facing the same liability as brokers
Managing general agents face being liable to bail out failed independent financial advisers or mortgage intermediaries that exceed the upper threshold of the Financial Services Compensation Scheme levy under new proposals.
LV reduces broker rates after losing out to competitors
Uncertainty in the general personal lines market has led LV to reverse its strategy of hardening rates after the company's PL broker book lost out to competitors in the first half of the year.
Aviva to exit US general insurance market after ending Hiscox deal
Aviva is withdrawing from the US general insurance market following a decision to end its two-year reinsurance quota share agreement with Hiscox's US property catastrophe book. The arrangement dates back to the 2010 financial year.
ABI demands Riot Damages Act reform one year on from civil unrest
Industry leaders are calling for urgent reform to the Riot Damages Act 1886 after publishing comprehensive claims data on the eve of the first anniversary of the UK riots.
Compare the Market launches refreshed landlord website
Compare the Market has unveiled a "new and improved" price comparison offering for landlord insurance.
Financial advisor caught cheating in CII exam
A financial advisor will not be allowed to sit any Chartered Insurance Institute exams for two years after he was caught cheating in May.
Vienna Insurance completes merger of Polish insurers
Vienna Insurance Group has completed the merger of non-life insurers InterRisk and PZM, concentrating its market presence in the core Polish market.
Mitsui employee Yoshie Ueno scoops judo bronze at London Olympics
Mitsui Sumitomo Insurance employee and sporting champion Yoshie Ueno won bronze medal in the women's under 63kg judo competition yesterday at the London 2012 Olympics.
Mitsui Sumitomo worker claims Olympic bronze
Mitsui Sumitomo hailed the Olympic success of one of its own today after staff member Yoshie Ueno claimed bronze in the women's under 63kg judo competition.
No compensation for 3000 asbestos victims not included in new scheme
A new insurer-funded government compensation scheme for mesothelioma victims has been criticised for excluding sufferers of other asbestos-related diseases who might have received financial support under the shelved Employers’ Liability Insurance Bureau.