News
Thompsons demands MP action for motorists after insurer results statements
Law firm Thompsons Solicitors is demanding cross-party action from MPs after it criticised claims portal costs as being "punitive", "unrealistic" and set for the benefit of insurers.
Pen Underwriting hires regional business development team
Managing general agent brand Pen Underwriting has appointed a six-strong team of business development managers to strengthen its regional and specialist support to brokers across the UK.
Insurers set for Bank of England cyber security follow-up survey
The Bank of England is following up on a 2012 cyber survey to check whether management teams at insurance companies have increased how often they discuss cyber security.
Insurance quiz of the week - 22 August 2015
Test your knowledge of this week's insurance news.
IAG's full year profit declines 41%; Canterbury earthquake claims rise
Insurance Australia Group's after tax profits declined 41% for the full year to the end of June 2015 to A$728m (£338m) compared with A$1.23bn a year earlier.
Trade credit firms insuring record turnover amid economic upturn
An improving UK economy has seen trade credit insurers providing more cover to businesses than ever before, insuring turnover worth £315bn in 2014, according to figures by the Association of British Insurers.
Guy Carpenter director warns over contaminated cargo in Tianjin
Mark Shumway, managing director - strategic advisory, Asia-Pacific at Guy Carpenter has warned that failure to write off contaminated cargo losses in the port of Tianjin could lead to worse losses later.
Marsh marine manager in Asia to join Allied World
Post understands Tim Cooke, Marsh's Asian cargo practice leader, is leaving the global broker to join insurer Allied World.
Willis expands in Australia with CKA purchase
Willis Australia has acquired Perth-based broker CKA Risk Solutions for an undisclosed sum.
Axa aims to challenge mid-market status quo with sector-specific proposition
Axa has signalled its intent to secure a much larger share of mid-market risks in 10 key trade sectors with the introduction of a tailored broker proposition.
Swedish pet insurance market a model for UK players
The UK pet insurance market could learn a lot from its competitors in Sweden, according to technology firm Aquarium, particularly collaborating with partner agencies such as veterinarians and the police.
Aviva to become Norwich City community partner as sponsorship ends
Aviva has vowed to remain closely involved with Norwich City Football Club despite the insurer announcing that it will no longer serve as the club’s main sponsor.
Dynamo Analytics appoints director to lead entry into Nordic market
Dynamo Analytics’ new recruit Lori Tan is to head up the actuarial modelling and analytics specialist consultancy’s move into Norway.
Arc Legal doubles its Northern Irish LEI book with two new schemes
Arc Legal Assistance has strengthened its presence in Northern Ireland with two new legal expense insurance schemes, that combined have more than doubled its book of business in the province.
Lloyd's drones report highlights safety, security and surveillance concerns
Insurers are likely to demand greater risk mitigation measures from drone operators amid concerns around safety, security and surveillance, according to a Lloyd’s report.
Fosun and FWD eye Ageas' $1bn Hong Kong operation
Chinese conglomerate Fosun and life insurer FWD are attempting to buy Ageas' Hong Kong arm for around $1bn (£638m) according to reports.
Nicholson leaves DAC Beachcroft for Kennedys in Singapore
DAC Beachcroft is down to one partner in Asia following insurance partner and office founder Ben Nicholson's move to rival insurance-led firm Kennedys.
Cobalt selected as ‘insurer of preference’ for Paramount Resort
Shariah-compliant managing general agent Cobalt Underwriting has been selected as the preferred insurer for the £3bn London Paramount Entertainment Resort in Kent, Post can reveal.
SME ambitions behind Marsh interest in Jelf but integration remains an issue
Marsh’s potential acquisition of Jelf would allow the global broker to realise its SME ambitions and extend its regional presence, according to industry insiders who have warned the possible integration process must be handled carefully.
PIB tipped to make rival Jelf bid as GRP refutes interest
Brendan McManus’s PIB has been tipped as a potential alternative bidder for Jelf amid doubts other businesses have the financial firepower to outbid broking giant Marsh.
Admiral calls for fixed IPT levy to level playing field
Admiral has called for a fixed insurance premium tax levy, saying the way the tax is currently collected punishes those who can least afford it.
CII members upbeat on business prospects amid upturning economy
The majority of Chartered Insurance Institute members are anticipating an upswing in their financial performance over the coming year as optimism regarding the UK economy gathers momentum.
Marsh eyes Jelf acquisition as takeover talks confirmed
Jelf has confirmed it is in takeover discussions with Marsh in relation to the global broker acquiring the entire issued and to-be-issued ordinary share capital of Jelf.
Higher reserve releases drive 6% increase in Admiral motor profits
Admiral CEO Henry Engelhardt has branded the opening six months of 2015 “a good start to a challenging year” after the insurer delivered a 1% increase in group pre-tax profit to £186.1m (H1 2014: £184.9m).