News
Quiz of the week - 7 August 2015
It’s that time of the week again… Quiz Time!
Hood Group partners with Stoke City FC
Hood Group has entered into a two year partnership deal with Stoke City Football Club where it will promote its affinity partner Asda Home Insurance.
Jelf swoops for North London broker Libra
Jelf has grown its southern footprint by acquiring Watford-based broker Libra Insurance Services.
Allianz Group estimates 2015 operating profit at upper target range
Operating profit in Allianz Group's property and casualty division rose 29.7% to €1.35bn (£952m) in the second quarter of 2015 as the company confirmed its operating profit outlook for the full year would reach €10.8bn.
Lewis focused on correcting 113.6% personal motor COR
RSA UK and Western Europe CEO Steve Lewis is "clearly focused" on improving the performance of the company's personal lines motor division after it reported a significantly deteriorated combined operating ratio for the first six months of 2015.
Hastings adds Peter Blanc to its board of directors
Aston Scott executive chairman Peter Blanc has been appointed to the board of directors at Hastings Insurance Group along with legal private practice stalwart Selina Sagayam.
Zurich UK GI boss Sharma notes 'benefits' of RSA tie-up
Zurich’s UK general insurance boss Vibhu Sharma believes "synergies" could be achieved from a takeover of RSA but said the insurer would focus on making improvements in its own business if a deal could not be reached.
One Broker buys Essex-based independent firm
One Broker has acquired the entire share capital of Barking-based independent broker P J Weller & Son.
Tulloch points to internal loan returns as driver of operating profit drop
Aviva UK & Ireland general insurance CEO Maurice Tulloch has cited returns on the insurer's internal loan as a key factor in the division's drop in operating profit reported within the company's first half results today (6 August).
Quindell shares plummet to 79p in first day of trading since June
Quindell’s share price fell by a third to 79p this morning as the beleaguered outsourcing provider resumed trading on the London Stock Exchange’s AIM index.
Claims Management Regulator issues first fine to nuisance CMC
A claims management company that pestered people with nuisance calls about noise induced hearing loss claims has become the first firm to be fined under new regulatory powers.
Arista and Arag partnership extends over a decade
Arista Insurance has extended its partnership with legal expenses provider Arag for a further three years.
Zurich UK GI faces ‘a struggle ahead’ as H1 profit falls by 50%
Business operating profit for Zurich’s UK general insurance business halved to £50m in the first six months of 2015 (H1 2014: £100m) as the insurer suffered a higher than average number of large losses, only partially offset by benign weather.
Markel reports 90% H1 combined ratio
Markel International has reported a comprehensive loss to shareholders of $132.9m (£85.1m) in the second quarter of 2015 compared to a loss of $250.6m in Q2 2014.
Aviva signs seven-year distribution agreement with TSB
Aviva has signed an exclusive seven-year distribution agreement with TSB covering the distribution of Aviva’s core general insurance products including home, travel, motor, pet, and commercial insurance through TSB’s branch network, online and via…
Aviva UK GI records best COR in 8 years despite fall in profits
Aviva was aided by benign weather conditions in delivering its best UK general insurance combined operating ratio for eight years in the opening six months of 2015, however operating profit fell 11% to £223m (H1 2014: £251m).
Munich Re upgrades profit estimate after drop in major losses
Munich Re has upgraded its profit forecast for 2015 to above €3bn after tax (£2.1bn) on the back of encouraging second quarter results.
Hester bigs up RSA's ‘stand-alone' value in face of Zurich deal
RSA's strategy dictates it will have a strong stand-alone value in the coming years, according to group CEO Stephen Hester who has assured shareholders he is serving their interests in the face of a potential takeover bid from Zurich.
RSA reports record UK underwriting profits as Hester praises ‘excellent' progress
RSA has reported record UK underwriting profits of £77m and a combined operating ratio for the region of 94.4% for the first six months of 2015.
Large losses and rising expenses hamper Zurich's first half global results
Zurich blamed a 15% fall in pre-tax global profits to $2.2bn (£1.4bn) in the first half of 2015 on a significantly lower contribution from its GI business.
Snowball warns over government disaster insurance scheme
Outgoing CEO of Suncorp Patrick Snowball has said a potential Australian government backed insurance disaster scheme would not provide the required protection communities deserve.
Hong Kong broker chooses Total Objects
Hong Kong marine broker Latitude has chosen to use software provider Total Objects for all its technology systems.
China regulator to introduce insurer service rating system
The China Insurance Regulatory Commission is planning to rate general and life insurers based on procedures from sales to claims.
Lockton and Vocare launch 'out-of-hours' PI offering
Broker Lockton has teamed up with NHS outsouring provider Vocare in a bid to level the playing field for GPs wanting to take up out-of-hours work.