News
Insurance quiz of the week - 14 August 2015
It’s that time to put your knowledge of this week’s insurance news stories to the test. Once again, it’s not just for fun – England rugby tickets are up for grabs!
Chinese property group raising money for Asia-Pacific reinsurer
Chinese property company Oceanwide Holdings is planning to launch an Asia-Pacific reinsurer.
Insurers pledge support to intermediated motor market after RSA withdrawal
Large insurers have remained staunch in maintaining their presence in the personal lines broker motor market after RSA announced on 12 August it is to fully withdraw from the channel.
Integro boosts aviation presence with division acquisition
Broker Integro has acquired the aviation division of AFL Insurance Brokers creating an additional UK-based aviation team.
Blanc claims Axa is unrecognisable from past and defends business merger
Significant improvements at Axa in the UK over the past five years mean the insurer is in a very different place ahead of the planned merger of its commercial and personal lines business, according to CEO Amanda Blanc.
Axa reveals structure of new combined UK GI operation
The new Axa Insurance is to be split into four business units following the reorganisation of the insurer's UK general insurance activities which will take effect on 1 January 2016.
Win England vs Ireland rugby tickets by completing the Post quiz
For your chance to win a pair of tickets to the England vs Ireland 2015 QBE International at Twickenham on 5 September complete this week's Post news quiz.
Government to 'encourage' insurers to join nuclear market
The government plans to encourage more insurers to enter the nuclear insurance market, to ensure there is sufficient capacity for planned nuclear power stations in the UK, the parliamentary under-secretary for climate change said this week.
ERS delivers £2.8m loss as transformation project takes its toll
Broker-only motor insurer ERS has attributed costs associated with its ongoing transformation project and reduced investment income as drivers behind it delivering a £2.8m loss in the first half of 2015.
GRP backs £25m premium Northern Irish broker's MBO
Northern Irish broker Abbey Bond Lovis has completed a management buyout backed by insurance investment vehicle Global Risk Partners.
Covéa and Sterling staff join forces in single Manchester branch
Covéa’s and Sterling’s regional teams have joined forces in a single Manchester office as the companies edge closer to integration.
FCA publishes reformed approved person's regime for SII firms
The Financial Conduct Authority has today confirmed reforms to the approved person's regime for Solvency II firms including changes to governance arrangements and new conduct rules to encourage appropriate behaviour by staff.
Results round-up: H1 2015
Its results season again, and here at Post we have put together a single source of information to make finding the results from this half of 2015 a little easier.
Keighley pair jailed for £167,000 fraud scam
Two Keighley men who created insurance policies for people who did not exist and then submitted 300 false personal injury referrals worth £167,000 for made-up road accidents have both been jailed for four and a half years.
Dishonest motor insurance applications exceeded 4000 weekly in 2014
Insurers uncovered 212,000 attempted dishonest applications for motor insurance in 2014 - up 18% on 2013 and the equivalent to over 4000 every week, according to the Association of British Insurers.
Allianz buoyed by P&C growth in China, Indonesia and Malaysia
Allianz's Asia-Pacific property and casualty division saw gross written premiums increase to €869m (£619m) in the first half up 26% from €688m last year.
Target Group’s Larkin and Alley to become co-CEOs following reshuffle
Outsourcing and software provider Target Group has promoted Ian Larkin and Bill Alley to the role of co-group CEO and appointed Paddy Byrne to the role of chairman.
Telematics firm Scope Technologies expands in Thailand and Germany
German insurer HDI Gerling and Thai company Bangkok Insurance have agreed pay-as-you-drive deals with telematics provider Scope Technologies.
Carney must clarify 'scope' of senior managers' regime
Bank of England governor Mark Carney needs to clarify the way the new senior managers' insurance regime interacts with Solvency II, according to one law firm.
RSA to exit personal lines intermediated motor market in November
RSA has confirmed it is to withdraw fully from the personal lines broker motor market, ceasing to write new and renewal business from 1 November.
Miss England contestant and semi-pro footballer jailed for whiplash fraud
A former Miss England contestant and ex-semi-pro footballer has been jailed for two months alongside another woman after attempting to defraud Esure out of £3000 for a false whiplash claim.
Maciver ‘coaxed off golf course' to join Cullum at GRP
Towergate Partnership founding shareholder Kenny Maciver has joined Peter Cullum-backed Global Risk Partners to work on mergers and acquisitions.
Less than 10% of Taiwan's cars insured for storm damage
A director of Taiwan's Non-Life Insurance Association has said that more than 90% of car insurance policies in the country are not covered for storm damage.
Five Uber drivers arrested in Hong Kong
Five Uber taxi drivers were arrested in Hong Kong yesterday for driving unlicensed and without third party insurance.