News
Guy Carpenter names head of European casualty strategy
Guy Carpenter has appointed Georg Fuelles head of European casualty strategy.
Mixed performance forecast for Kiln syndicates
Non-aligned Lloyd’s syndicates operated by Kiln have been hit by catastrophe losses as the insurer has updates forecasts for years of account from 2010 onwards.
QBE unveils cost-cutting plan as Burns takes group CFO role
QBE Europe chief executive Steven Burns is to relocate to Australia to take over from Neil Drabsch as group chief financial officer.
QBE European premium up 6% to £3.2bn
QBE has reported an 8% rise in net profit after tax to US$761m (2011: $704m) in 2012, while insurance profit was up 16% to $1.26bn (2011: $1.08bn) supported by a strong investment result.
Covéa expands Riskstop partnership
Covéa Insurance has renewed a deal for Riskstop to carry out site surveys and manage implementation of risk improvements.
Tokio Marine Europe strengthens underwriting capabilities
Tokio Marine Europe Insurance has appointed two underwriters to further strengthen its UK team.
Guy Carpenter appointment signals focus on European casualty market
Guy Carpenter & Company has appointed Georg Fuelles as head of European casualty strategy.
LV investment return soars as 2012 floods take toll on COR
LV underwriting profit suffered a £25m hit last year, as the firm’s combined operating ratio increased to 99.7% (FY 2011: 97.7%) as a result of adverse weather conditions during large parts of 2012.
Hong Kong considers more regulation of investment-linked products
The Securities and Futures Commission, government and regulators in Hong Kong want more protection for investors in investment-linked insurance products.
QBE's 2012 profit below forecast; 700 jobs to be offshored
Global insurer QBE had an 8% increase in profit last year, but this fell below expectations as natural catastrophes hit the bottom line.
Indian insurers want tax breaks for personal insurance
The insurance industry in India is calling for tax breaks on personal cover such as home, personal accident and travel to help increase access to the products across the country.
SSL Claims inks CIOB partnership deal
Northampton-based loss adjuster SSL Claims has become the first loss adjuster to become a member of the Chartered Institute of Building.
UIB recruits to bolster international property plans
United Insurance Brokers has swooped to recruit Thompson Heath & Bond’s Grant English as a London market broker.
PWC pair named De Vert provisional liquidators
Shuttered Gibraltan insurance company De Vert has today seen two PWC managers appointed as joint provisional liquidators.
Shipowners commit to UK Club
The United Kingdom Mutual Steam Ship Assurance Association, better known as the UK P&I Club, has attracted over 3m gross tons of new tonnage, following the closure of renewal season on 20 February 2013.
Tokio Marine Europe recruits underwriters from QBE, RSA
Tokio Marine’s European operation has swooped to recruit two underwriters to bolster its UK team.
Generali bolstered by P&C growth in Germany and CEE countires
Generali has reported an increase in premiums to € 70bn (+3.2%) with a 3.3% growth in property & casualty to €22.8bn.
Brightside reaps benefits from One Insurance Solution rebrand
Brightside is already seeing benefits within its broking business since consolidating several of insurance products under the new One Insurance Solution brand less a fortnight ago.
Pound weakness presents HNW opportunity
The pound’s weakness is an opportunity for international high-net-worth providers, wholesale broker Markham Private Client has said.
Torrance praises Allianz "discipline" in commercial lines
Allianz has attributed its success in commercial lines to a “disciplined approach” in risk assessment and pricing.
Hiscox: UK downgrade could benefit shareholders
Hiscox chief executive Bronek Masojada has refused to panic over the loss of Moody’s AAA rating for the UK, saying the move may benefit shareholders.
Zurich warns firms to tackle rising levels of workplace stress
Stress levels, low morale and staff absence look set to continue to negatively impact the workplace unless the economic environment improves, Zurich has warned.
Go Skippy signs up two new partners
General Legal Protection has won a contract to provide breakdown cover to customers of online car insurance broker Go Skippy in a deal it claims is worth in excess of £600 000 over the next 12 months.
Allianz UK profit slides 4.3% to £161.5m
Allianz reported a 4.3% fall in operating profit to £161.5m in 2012 (2011: £168.7m). The insurer's combined ratio also deteriorated to 96.3% from 95.7% in 2011.