News
Markel reports investment and GWP growth counters catastrophe claims
Markel International saw gross written premiums rise 16% to $825m for 2011 ($709m) but a combined ratio of 116% (95%) included $123m, or 18 points, from natural catastrophes compared with $17m, or 3 points, in 2010.
Munich Re profits down 70%, GWP up 9%
Exceptional major losses and “burdens from the financial crisis” slashed Munich Re’s profit last year by more than 70% to €0.71bn from €2.43bn in 2010. This was despite gross written premiums being up by almost 9% to €49.6bn (€45.5bn).
Career development: AMII names 500th CII exam pass
John Davison, of independent financial adviser Ringrose Grimsley, has become the 500th Association of Medical Insurance Intermediaries’ candidate to pass the CII/AM11 IF7 exam.
News analysis: Management buyouts on the rise as teams tire of waiting
Following MBOs at Europ Assistance and A&A Group, could 2012 see a rise in such deals?
Government drops flood subsidy hint as Defra weathers harsh criticism
The government has hinted it is prepared to agree to some form of subsidy for flood-prone homes to enable insurers to continue to provide affordable cover.
RSA job cuts not mark of wider trend says recruiter
Regulatory changes are likely to keep technical roles in-house, however, the number of support function redundancies are expected to rise as an industry-wide outsourcing trend continues in 2012.
Towergate continues to streamline insurer panels with Allianz and Brit deal
Allianz Insurance is poised to reap more than £40m of SME business in the next three years after regaining the lead position on the Towergate Commercial Underwriting panel.
Editor's comment: Slim pickings at Groupama
It didn’t take long for some insurers to begin sharpening their knives and forks, and start planning how they can prey on the perceived wounded animal that is Groupama UK.
Career development: Zurich gains CII status
Zurich has become the first UK composite to gain chartered status.
Brokers wary over Groupama transfers as S&P puts Aviva and Axa on rating alert
Up for sale insurer may be helped by wider eurozone worries.
My best 11 - Simon Burley, Delta Claims Services and CILA
Simon Burley, president of the Chartered Institute of Loss Adjusters and director at Delta Claims Services, selects his best XI for an insurance start-up.
Former Autofocus employees face prison over 'doctored' credit hire evidence
“Flabbergasted” judges have granted Accident Exchange permission to apply to commit seven former Autofocus employees to prison for contempt of court.
Hong Kong to launch policyholder's protection fund
Hong Kong’s government will establish a policyholder’s protection fund after reviewing the conclusions of a public consultation, according to the region's information services department.
Ace boss Greenberg sees "firming rates" in Q4 as 2011 profit falls 49% to $1.59bn
Ace Insurance has reported 49% change in its year end profit having reported net income of $1.59bn (2010: $3.11bn) in 2011.
Helphire cancelled agreement due to low level of hires, claims WNS
Bosses at WNS Assistance have said the termination of a partnership agreement with Helphire was sparked by the accident management firm following concerns that WNS was failing to provide enough credit hires through its repairer network.
LAS snaps up Merlin director
LAS has confirmed to Post that market rumours about Russell Crewe leaving his current role as loss adjusting and claims services director at Merlin to join LAS are true.
NIG launches property owners product
NIG has introduced a new product for commercial property owners after identifying a gap in the market.
Ironshore enters Asian market with Singapore hub
Bermuda-based property and casualty specialist, Ironshore, is opening an office in Singapore to provide commercial products for the Asian marketplace.
XL appoints construction manager for Ireland, UK and Nordics
XL insurance has appointed Ian Lushington as construction underwriting manager for the UK, Ireland and Nordic regions.
IRDA snubbed as India's finance ministry forms insurance committees
India’s finance ministry has formed four committees to consult on insurance business in the country, drawing representatives from insurance companies, industry bodies, rating agencies and finance ministry officials.
Expedite Resolution launches mediation and dispute resolution service
Expedite Resolution has launched a new mediation and dispute resolution service.
Commercial insurers to benefit from 'negative declarations' judgment
The position of commercial insurers defending claims has been strengthened after the Court of Appeal confirmed the power of arbitrators to make ‘negative declarations’.
Van insurance premiums drop for young drivers
Research by Autonet Insurance has found that van insurance premiums for young drivers dropped by up to 20% over the past year.
Arc Legal teams up with Swinton Commercial
Arc Legal Assistance has secured a deal to provide commercial legal expenses and an extended online employment manual service to Swinton Commercial.