News
LMA publishes bluffers guide to claims
The Lloyd’s Market Association has released a bluffer’s guide to claims to help Lloyd’s practitioners understand how ongoing strategic projects, current claims processes and future initiatives fit together.
Travel sector on the FCO radar as lack of coverage concerns are raised
Greater regulation around travel insurance is not expected to be introduced, despite calls from the Foreign and Commonwealth Office for insurers to make sure British tourists have adequate coverage.
County Insurance boosts north west footprint with Chester acquisition
County Insurance has acquired broker Chester Insurance Services and expects to complete two further acquisitions this year.
China Re submits application for IPO in Hong Kong
Reinsurance giant China Re has submitted an application for a listing on the Hong Kong Stock Exchange.
RSA to record boom in profits by 2017, according to analyst estimates
Profits at RSA are predicted to skyrocket in 2017 after a year of marginal decline, according analysts’ consensus estimates.
Peak Re hires Burri as reinsurer targets Zurich office
Jacqus Burri has been hired by Hong Kong-headquartered reinsurer Peak Re to work in Zurich.
RSA pushing for 600p per share offer from Zurich
RSA is said to be angling for a 600p per share price from interested purchaser Zurich - an increase on last week's reported price of 550p per share, according to reports.
Marsh completes SME Insurance Services purchase
Marsh has completed its previously agreed acquisition of Leeds-based commercial broker SME Insurance Services.
Helios grows capacity with two acquisitions
Helios Underwriting has acquired Lloyd's limited liability members Nameco and Kempton Underwriting for an aggregate price of £2.4m.
AM Best places Ironshore under negative review after Fosun transaction
Ratings agency AM Best has placed specialty insurer Ironshore under negative review after the acquisition by Chinese conglomerate Fosun.
Less than 6% of SMEs have cyber insurance, says ABI Research
Global research firm ABI Research has found that less than 20% of large companies and less than 6% of SMEs have cyber insurance within the global insurance market.
Aon broking arms sees profits crash by a third to £178m in Q2 2015
Aon Risk Solutions has seen its profits drop by a third in the second quarter of 2015 to $279m (£178m)(Q2 2014: $417m) according to its latest results published today.
Buying RSA 'not the best option' for Zurich shareholders say analysts
The rationale for Zurich’s takeover of RSA has been questioned by analysts who suggest the insurer would be better served by returning excess capital to shareholders.
Manchester fraudsters sent to jail for whiplash scam
Five people from Manchester involved in a fraudulent whiplash claim scam have been jailed for a total of five years.
DLG's Maddock claims insurers have 'an obligation' to set up ABSs to ensure access to justice
Direct Line Group claims director Steve Maddock has hit back at suggestions alternative business structures fuel claims farming saying they are actually an effective tool in stopping spurious claims progressing.
Davies appointed as preferred loss adjuster by Anglian Water and United Utilities
Davies Group has been selected by Anglian Water Group and United Utilities as their preferred loss adjusting partner, following the completion of competitive tender processes.
Insurance quiz of the week - 31 July 2015
It’s that time to put your knowledge of this week’s insurance news stories to the test – and this time it’s not just for fun. It is serious.
Brit's first half profits crash 93% amid investment portfolio restructuring
First half after tax profits at Brit fell from $94.5m (£60.7m) in 2014 to $6.4m this year.
Leung to replace Choi as Hong Kong's insurance government head
John Leung is relocating from Taiwan to start as Hong Kong's commissioner of insurance on 19 August to replace Annie Choi.
Win England vs France rugby tickets by completing the Post quiz
For your chance to win a pair of tickets to the England vs France 2015 QBE International at Twickenham on 15 August complete this week's Post news quiz.
Zurich UKGI personal lines boss Holliday heads for the exit
Zurich UK general insurance CEO Vibhu Sharma has reassured brokers that service levels will not be impacted by the departure of UKGI personal lines and Endsleigh managing director Tim Holliday, who has stepped down “to pursue opportunities outside the…
Lloyd's to boost Malaysia presence as it applies for onshore licence
Lloyd's is to apply for an onshore reinsurance licence in Malaysia and open an office in Kuala Lumpur.
Generali reports record net profit despite mixed P&C performance
Italy’s Generali Group saw net profit grow 21.6% to €1.3bn (£0.91bn) in the first half of 2015, aided by strong growth in its life insurance business.
MARM elects new president
Ian-Edward Stafrace has been elected president of the Malta Association of Risk Management, the association that has been representing the risk management profession in the country since 2011.