News
UK could be 'leader' in drone technology with right regulation says Lords committee
The UK could become a global leader in drone technology, but regulation is needed to ensure public concern about the safety of unmanned systems does not set the industry back.
Zurich group reports stable £3bn operating profit
Zurich reported a group general insurance business operating profit of $2.89bn (£1.9bn) for the year ended 31 December 2014 which equated to 50% of its overall business operating profit.
Sompo acquires 7.8% stake in Scor
Sompo Japan Nipponkoa Insurance has acquired a 7.8% stake in French reinsurer Scor.
Blog: Cyber risk on Claims Club Asia's agenda
A very Happy New Year of the Goat and welcome to our Claims Club Asia blog.
Opportunities to innovate in Asia-Pacific, says Aon Benfield
Aon Benfield believes there is room for growth in specialty lines and product innovation in the Asia-Pacific region.
Marcia claims cost IAG over A$60m
Insurance Australia Group has received around 3500 claims for damage caused by Cyclone Marcia.
DfT urged to harness insurer data to inform transport policy
A Transport Select Committee report has recommended the Department for Transport works with the insurance industry to see how it can use anonymised vehicle data to inform policy.
Crawford & Company gets the CMA greenlight for GAB Robins integration
Crawford & Company this afternoon confirmed the Competition & Markets Authority had lifted the ban preventing its integration with recent acquisition GAB Robins.
Bellamy calls for Das arrangement to be referred to the regulator
Former Das employee, Philip Bellamy, has denied any wrongdoing and insisted his own conduct was “impeccable” following news of his departure.
Bupa UK sees 2014 revenue grow 5% to £2.7bn
Bupa UK has achieved a 5% revenue increase for the year ended 31 December 2014 to £2.7bn.
Travelers Europe promotes COO Wilson to CEO
Travelers Europe chief operating officer Matthew Wilson has been appointed CEO for the business.
Paymentshield secures extension to MAB distribution deal
Paymentshield has confirmed its distribution agreement with Mortgage Advice Bureau has been extended to 2017.
Towergate confirms Towergate Financial sale
SME giant Towergate has confirmed the sale of Towergate Financial to Palatine Private Equity, subject to Senior Secured Creditor consent and regulatory approval.
Friends Life grants investment opportunities but selective GI exits considered
The Friends Life deal will “accelerate” Aviva’s turnaround and enhance its ability to deliver improved cashflow and growth according to CEO Mark Wilson.
MGA's and specialists lead the way in product innovation, SSP says
General insurance technology provider SSP has identified managing general agents and specialists as top innovators in its new white paper.
Brokers to provide risk management guidance with online tool
Brokers are being encouraged to provide their clients with risk management guidance as an online digital tool is launched by Axa.
ACE Group hires claims director for Continental Europe
ACE Group has hired Tim Scott-Young as claims director for Continental Europe.
Motor rate decline to halt in 2015, says Admiral UK CEO
Price reductions in the UK motor market are set to end in 2015, as cheaper claims frequency rises in the wake of lower fuel costs, according to Admiral Group’s UK CEO David Stevens.
Insurance Europe calls for EIPOA stakeholder workshops
Insurance Europe has called for a limited on the number of guidelines and simplification for Solvency II implementation.
Quindell raises £7.1m from Nationwide Accident Repair sale
Quindell has sold its stake in Nationwide Accident Repair Services raising £7.1m for the embattled company.
Aviva records 6% increase in operating profit
Aviva posted a 6% increase in group operating profit to £2.17bn for the 2014 financial year, and an improved combined ratio, as CEO Mark Wilson warned the firm had “further to travel” with its turnaround plan.
Admiral posts reduced profit for first time since float
Admiral Group posted a profit of £357m for 2014, the first fall in profit since its stock market flotation in 2004.
A quarter of firms likely to miss Solvency II deadline
Most insurers expect to be ready for the reporting and disclosure requirements of Solvency II by the end of the year, however a significant minority will struggle to meet to deadline, a survey by financial adviser Grant Thornton has found.
200 jobs at risk as Ageas Retail plots closure of Belfast site
Ageas Retail is planning to close its outbound call centre in Belfast and has entered a 90 day consultation period with the office’s 200 staff.