News
Ping An launches emergency initiative after deadly Sichuan earthquake
Chinese insurance giant Ping An is waiving premiums and fast tracking claims following a deadly magnitude 6.6 earthquake in Jiuzhaigou, Sichuan during peak tourist season this week.
Munich Re's P&C profit drops 29% in first half; Ergo returns to profit
Global reinsurer Munich Re had a mixed first half to the year as the firm was hit by the London Grenfell Tower disaster as its primary insurer Ergo returned to profit.
PRA to consider insurers' Brexit contingency plans
More than 400 banks and insurers have submitted Brexit contingency plans to the regulator, as the UK looks to negotiate a favourable exit deal from the European Union.
Ageas faces further Ogden hit of up to €15m in second half
Ageas will see a further hit of up to €15m (£13.5m) in the second half of the year from the Ogden rate change.
Khaitan to head up RSA's GRS business
Ex-Aspen head of change, Anny Khaitan, has been appointed as chief operating officer of RSA’s Global Risk Solutions business, after joining the insurer in July 2017.
L&G sees GI profit drop of 48% from escape of water claims
Legal & General saw a 48% drop in profits for its general insurance unit due to higher than expected costs from escape of water claims.
Hastings vows further data investment as profit rises by 22.1%
Hastings has seen a 22.1% increase in H1 adjusted operating profit, as the company vowed to continue investment in its data-driven model.
Ageas UK sees profits fall after €31m Ogden hit and declining motor COR
Ageas UK continued to be hammered by the impact of the Ogden rate changes, with profits falling 73% in its H1 result.
AIG sees 87% spike in Greater China cyber enquiries following Wanna Cry
Following the global ransomware attack named as Wanna Cry in May Asian firms are becoming more interested in cyber insurance.
Over $10bn of China economic losses in six weeks, says Aon Benfield
Aon Benfield's nat cat experts Impact Forecasting has recorded over $10bn of economic losses in China over a six week summer period following heavy flooding.
CII sees profit dip due to change programme
The Chartered Insurance Institute has seen a 12% dip in pre-tax profits from the previous year.
GDPR consultation fails to address 'key concerns' of industry
The insurance industry has critcised the government statement of intent on the new data protection bill saying it fails to address concerns on processing sensitive data without obtaining explicit consent.
Businesses could face £17m fine for lack of cyber protection
Businesses that fail to protect their services from cyber attacks could face fines of up to £17 million, the Department for Digital, Culture, Media and Sport has warned.
CII could raise £19m from sale of Insurance Hall
The Chartered Insurance Institute could potentially raise £19m from the sale of its historic Aldermanbury building.
Towergate's Jon Cawley to replace Matthew Scott as NFU Mutual claims head
Exclusive: Towergate Underwriting head of claims Jon Cawley is to take over Matthew Scott as NFU Mutual’s head of claims.
Keoghs in talks to acquire Hill Dickinson’s insurance business
Law firm Keoghs is in talks over the acquisition of Hill Dickinson’s insurance business.
Tough market sees 57% drop in number of claims firms
The number of claims management companies has more than halved in the past six years, according to official figures.
Flood-hit business owner sentenced for fraud
A flood-hit shop owner has been ordered to pay compensation after attempting to falsely claim £107,000 from her insurer.
Markel hires political risk underwriter in Singapore
Specialist insurer Markel has recruited a political risk underwriter in Asia.
Commercial insurers' claims handling failing SMEs
Commercial insurers are failing to give their SME customers a satisfactory claims experience, with 70% saying that their interim and financial claims amounts had not been agreed promptly enough.
Lathrope replaces Walker as SSP CEO
SSP has appointed Steve Lathrope as its CEO, replacing co-founder Laurence Walker in the role.
IPT petition shelved due to concerns over ‘longevity’ of government
An industry-led petition against Insurance Premium Tax increases has been postponed due to concerns over the “longevity” of the government.
Ecclesiastical denies finding of church abuse inquiry
Ecclesiastical has hit out against accusations it advised the Church of England to sever ties with abuse victims.
Flooding and storms wreak havoc across Asia
As Typhoon Noru approaches Japan flooding has killed over 250 people across Asia over the last few weeks and caused hundreds of millions of dollars of damage.