News
Reinsurance CORs fall "dramatically" in H1
Global reinsurers' operating performances improved significantly in the first half of 2012, according to Fitch's latest report.
BlackRock recruits Leidtke for FIG role
BlackRock has appointed Patrick Liedtke, pictured, to lead its Financial Institutions Group in Europe, the Middle East and Africa.
Flood losses more than doubled in past 10 years, study finds
Flood losses are increasing at an alarming rate and the insurability of floods provides unique challenges for the industry, according to Swiss Re's latest report.
Mitsui Sumitomo names new professional indemnity underwriter
Mitsui Sumitomo has promoted Stuart Wood, pictured, to class underwriter for professional indemnity in its professional lines operation.
Mitsui Sumitomo promotes Wood to class underwriter for PI
Mitsui Sumitomo at Lloyd's has promoted Stuart Wood to class underwriter for professional indemnity in its professional lines operation.
Weil starts role as Marsh CEO
Mark Weil, pictured, has taken up his role as Marsh chief executive, as previously reported by Post.
Probable maximum loss "a terrible metric", says Air Worldwide founder
PML figures play too great a role in modern catastrophe underwriting, according to modelling expert Karen Clark.
Weil begins leadership of Marsh UK and Ireland
Mark Weil has taken up his previously announced appointment as chief executive of Marsh's UK and Ireland operation, Marsh Ltd, following regulatory approval.
RSA appoints new non-executive director
The Royal Dutch Shell's chief human resources and corporate officer Hugh Mitchell is set to join the RSA board on 26 September.
RSA appoints Mitchell as non-executive director
RSA Insurance Group has appointed human resources specialist Hugh Mitchell to its board as a non-executive director from 26 September.
Generali reaches new agreement to sell Israeli Migdal
The Generali Group has reached a new agreement to sell its entire 69.13% stake in Israeli firm Migdal Insurance and Financial Holdings to Eliahu Insurance Company.
FSA to investigate Lloyds Bank over PPI mis-selling
The Financial Services Authority has launched an investigation into the Lloyds Banking Group over payment protection mis-selling.
Geneva Association's Liedtke named as Blackrock EMEA head
Risk management organisation Blackrock has appointed Patrick Liedtke, outgoing secretary general and managing director of the Geneva Association, to lead its financial institutions group in Europe, the Middle East and Africa.
R&Q reports 56% rise in profit
Randall & Quilter has reported a 56% increase in profit before tax to £4.6m in the first half of 2012 compared with the same period last year(H1 2011: £3.0m).
Market moves: Merlin staff find new roles at LAS
Recruitment this week continued to be dominated by the fallout from the demise of loss adjuster Merlin. While GAB Robins moved for regional manager Andrew Considine last week, it was the turn of LAS, which added 19 former Merlin staff to its force.
Website review: Axa
Web performance specialist Compuware Gomez puts insurer to the test.
Houghton departs Broker Network after 17% drop in operating earnings
Nick Houghton has joined West Yorkshire-based broker JM Glendinning after resigning as managing director of Broker Network and Countrywide.
Towergate looks to Digital Animal to push sales through social media
Towergate is among the brokers and insurers that have signed up to a new social media-based sales channel, according to the management team behind its launch.
Fallout of Merlin collapse threatens contractors
Contractors are considering redundancies and stand to lose thousands of pounds as a result of Merlin's slide into administration.
Adjusters grow unattractive to private equity houses
Private equity houses are growing increasingly cautious about investing in loss adjusters, and one firm has already written down its investment in the market by millions, Post can reveal.
Insurers duck Admiral warning on 'killer' referral fees
Insurers have reiterated their support for the scrapping of referral fees, following remarks made by Admiral chief executive Henry Engelhardt that the incoming ban will be a "killer" for his competitors.
Direct Line Group posts 7% profit increase in first results as standalone
As the deadline for Direct Line Group's anticipated flotation approaches, the insurance business posted a 7% jump in operating profit to £224.2m for the first six months of the year and revealed it has set a target of 15% return on tangible equity.
Foil backs ABI's stance on 'illogical' damages rise
The Court of Appeal's decision to effectively bring forward a 10% rise in damages from April has been branded "illogical" by the Forum of Insurance Lawyers, echoing concerns already raised by the Association of British Insurers.
Former Marsh CEO Carnegie-Brown joins Aon
Aon UK has appointed has Bruce Carnegie-Brown as non-executive chairman, subject to FSA approval.