News
Axa UK must innovate, says incoming CEO Amanda Blanc
Amanda Blanc is putting innovation towards the top of her priorities as she takes the reins at Axa UK, just six months on from starting her last promotion, running general insurance for UK & Ireland at the global insurer.
TT Club GWP slides, COR rises to 94.4% in ‘normal year’
TT Club reported a drop in gross written premium and a weaker combined operating ratio for 2015, following an up-tick in large claims from events such as the Tianjin explosion.
Watchstone CEO asks the insurance industry for ‘level playing field’
Watchstone CEO Indro Mukerjee has urged the insurance industry to give the group formerly known as Quindell a ‘chance’ and let it move away from its history.
Towergate to close retail operations at Milton Keynes office amid wider cost cutting
Towergate has confirmed it will close its retail operations at its Milton Keynes office, just a day after CEO David Ross announced his team had identified an additional £7m in savings.
Compass looks to seal MBO from Gallagher in ‘next couple of months’
Compass is deep in negotiations for a management buyout from parent company Arthur J Gallagher, with the acquisition expected to close in "the next couple of months".
2015 results show Watchstone Group on path to recovery
Watchstone Group saw a £16.1m loss of pre-tax earnings in 2015 – a year that marked widespread restructuring, asset sales and the appointment of a new CEO.
Amanda Blanc promoted to top UK role in Axa restructure
Amanda Blanc has been promoted to CEO of Axa UK and Ireland, replacing Paul Evans.
Japan's P&C insurers improved CORs in 2015/16 fiscal year, says Fitch
Japan's property and casualty insurers improved their average combined operating ratios from 95% in fiscal year 2014/15 to 92% this year.
First terrorism travel insurance product launches
A standalone terrorism travel product has been launched to cater to the growing risk of attacks at tourist sites.
Gable moves to reassure brokers following announcement of a company-wide review
Gable has said it will be 'business as usual' until a review commissioned by the company concludes in Q3.
Government accepts Insurance Fraud Taskforce recommendations
The government has accepted the recommendations it has been given by the Insurance Fraud Taskforce and has called for the whole industry to tackle the issue.
Kickboxer fined after fraudulent whiplash claim
A kickboxer who claimed for whiplash after a car accident but then took part in a full contact fight has been fined.
Hundreds of SMEs take insurance complaints to financial ombudsman
More than 850 small business complaints around insurance were received by the Financial Ombudsman Service, with 219 of those about commercial property insurance, according to its 2015/16 review.
Gable sale on the table as full Solvency II compliance deemed ‘not possible’
Unrated insurer Gable Holdings will launch a full strategic review following an assessment of its Solvency II capacity, a move likely to result in a “fundamental restructuring”, according to a statement to the stock exchange.
Insurers warned they will do a Woolworths unless they adapt to fill digital customer gap
Incumbent insurers that fail to be “customer centric” and adapt to the digital age are likely to go the same way as former high street giant Woolworths.
Towergate committed to ‘long game’ despite 50% drop in Q1 profits
Towergate said recent investments will not be reflected until the end of the year as it posted an almost 50% drop in profit in its Q1 results.
Video: IBIS 2016 - Issues affecting the bodyshop industry
Burhan Khadbai talks to delegates at the IBIS 2016 about issues affecting the bodyshop industry.
John Murphy and Glenn Marshall leave Dual to join Towergate
John Murphy and Glenn Marshall will join Towergate as the broker builds a speciality London markets underwriting division.
Chubb appoints marketing boss Ruth Polyblank as SME head
Current head of marketing and customer strategy Ruth Polyblank has been appointed to a new role as head of SME for UK and Ireland at Chubb.
Motor Insurance World 2016: Cars as ‘complex as aircraft' and repairs should be licenced, say manufacturers
Increasing complexity of vehicles should require increasing regulation around repairs, particularly as the sector heads towards a driverless future, according to key experts from major motor manufacturers.
Aviva promises 30% of decision makers will always be women
At least 30% of Aviva’s executive committee will always be women, the company has said.
Motor Insurance World 2016: Biba expects EU decision to mitigate Vnuk
Graeme Trudgill, the executive director of the British Insurance Brokers' Association, says he expects the European Union to soon come up with a new definition of "vehicle" that will close the Pandora's box opened by the Vnuk ruling.
DFT confirms it will amend Road Traffic Act to cover driverless technology and invites insurers to consult on legislation
A government minister has called for the insurance industry to participate in a consultation over regulations surrounding the cover of autonomous vehicles.
IBIS 2016: Caliber Collision leaves door open for possible European entry
Caliber Collision has refused to rule out an emergence into the European collision repair market as it continues to ramp up acquisitions in the US, delegates were told at the IBIS Global Summit 2016.