News
AIA beats profit forecast
Hong Kong-based life and health insurer AIA's profits fell 20% in the first half of 2014 which was better than analysts' expectations of 28%.
Hyperion recruits Berresford as non-exec
Hyperion has recruited Ann Berresford as a non-executive director with immediate effect.
Ana Cap completes Brightside acquisition
European private equity firm Ana Cap Financial Partners has completed its acquisition of broker Brightside Group.
Brokers risking profit through missed calls
Brokers are risking £1.3m of profit by failing to answer customer telephone enquiries quickly enough, technology firm Callstream says.
Aviva and Vodafone agree seven-year deal
Aviva has signed a multi-million pound seven-year deal with Vodafone to provide a range of services including cloud storage, conferencing services and instant messaging.
War risks market faces 'substantial rate increases' in wake of MH17 loss
The war risks market is likely to experience “substantial rate increases” following the total loss of Malaysia Airlines flight MH17, according to a report by AM Best.
Dual recruits from UK General for Cardiff-based development manager
Hyperion-owned managing general agent Dual has recruited a regional sales manager from UK General to manage business development in the Midlands and the South West.
Ageas promotes Farr to Midlands underwriting role
Ageas has appointed Adam Farr as commercial regional underwriter for the Midlands.
LMA claims and underwriting boss Humberstone joins Capita
Capita Insurance Services has appointed the London Market Association’s Doug Humberstone as director of shared services.
Willis recruits two directors from Marsh in Asia
Willis has made two managerial appointments in its technology and risk services divisions in Asia.
Increased competition takes its toll as Lancashire profits plummet
Lancashire Holdings has seen its profit before tax nosedive by almost $40m (£23.5m) in the opening six months of the year on the 2013 half year figure of $137.2m.
MGAA membership hits 93 as original steering group is honoured
Managing General Agent Association chairman Reg Brown has heralded the association’s work in raising regulatory awareness of the booming sector after revealing the MGAA now represents more than £3.3bn of gross written premium.
First half catastrophe losses 19% below 10-year average
Insured catastrophe losses for the first half of 2014 were $22bn and around 19% below the 10-year average of $27bn according to catastrophe modelers Impact Forecasting.
Cathay Century is lead insurer for Taiwanese plane crash
The insurance coverage for yesterday's deadly plane crash on Penghu island is split between eight Taiwanese insurers.
Insurers adopt watch-and-wait approach to India ahead of proposed FDI changes
The proposed increase in the foreign direct investment cap in Indian insurers from 26% to 49% may not have the desired effect if the conditions for investment are too stringent, according to market commentators.
TransAsia plane crashes in Taiwan; 48 dead
A TransAsia Airways aircraft crashed yesterday in stormy weather on the island of Penghu in Taiwan. 48 people are dead and 10 are injured.
Which? clamps down on financial products' ‘sneaky fees'
Which? is calling for clarity around fees and charges on financial products following an investigation that revealed 50% of the motor insurers it examined had increased their fees in the past three years.
Gallagher signs three-year deal with Parkinson's UK
Arthur J Gallagher is growing its offering for the charities sector signing a three-year deal with Parkinson's UK alongside four further partnerships currently under negotiation.
Aviva calls for rehab-only compensation for minor road accident injuries
Aviva is pushing for changes to motor insurance compensation including cutting cash compensation for minor whiplash injuries and restricting personal injury lawyers to cases where their expertise is needed.
CII president Mistry hammers out 'one voice' agenda
Chartered Insurance Institute president Ashwin Mistry has issued a rallying cry for other industry organisations and trade bodies to get behind his ‘one voice’ agenda in a bid to exceed increasing consumer expectations.
Tesco Compare to close next month
Tesco is to shut down its price comparison website Tesco Compare from 31 August.
ABI supports amending portal to include multi-defendant claims
The Association of British Insurers wants to see the Ministry of Justice claims portal extended to include multi-defendant claims, in a bid to tackle the rising costs of industrial deafness, Post understands.
QBE hands GAB Robins TPA deal
QBE has agreed a deal to hand GAB Robins sole control of third party administration services commercial property business acquired from Brit, Post can reveal.
Priest & Co administrators sell broker's corporate risks division
Independent Lloyd’s broker Priest & Co has been forced to sell its corporate risks division after the company slipped into administration.