News
Ex-Barbon duo launches property broker
A new property insurance broker has been launched in London’s West End by the co-founder of Keelan Westall and former head of business at Barbon-owned Cadogan Keelan Westall, Brett Sainty.
Towergate reports £42.4m Q3 pre-tax loss
Towergate has reported a 5% increase in its third quarter earnings, published today, but reported a total group loss before tax of £42.4m (Q3 2011: £41.6m loss).
Asia tops list for serious underinsurance says Lloyd's
States in many high growth countries are shouldering the burden of excessive natural catastrophe losses due to low levels of insurance penetration, Lloyd’s has warned.
Insurance Europe repeats urge for Japan to abide by GATS
Trade body Insurance Europe has criticised the approval of a new Japan Post Insurance education product as disregarding the competition concerns expressed by international organisations.
GAB and Crawford deal with increased claims volumes from weekend floods
GAB Robins saw claims volumes increase by 50% today and expects that figure to grow as rainfall spreads from the south west to Wales and the north of England.
ABI urges MPs to pressure government on flood talks
The Association of British Insurers has written to members of parliament urging them to call on the government to rethink its decision to refuse to provide a temporary overdraft for a flood insurance fund.
Barbon promotes Tye to underwriting director
Property insurance and lettings insurance specialist Barbon has appointed Paul Tye, pictured, as its new underwriting director.
Insurers face ‘unprecedented’ tax bill
Insurers face an unprecedented level of indirect tax charges in Europe and, therefore, a tougher challenge of maintaining tax compliance, according to Fiscal Reps.
Covéa to grow apprenticeship scheme
Covéa Insurance is planning to extend its apprenticeship scheme having created six new full-time roles in its Halifax and Reading offices this year.
Towergate snaps up Northern Irish broker
Towergate Insurance has secured its first foothold in Northern Ireland after acquiring Belfast-headquartered broker Dawson Whyte.
Skuld expands specialist marine offering
Marine insurer Skuld has formed a new unit within its Lloyd’s syndicate 1897 that will offer combined physical damage and liability cover to ports and terminals worldwide.
Aviva rallies to help flood-hit policyholders
Aviva has been providing alternative accommodation and interim emergency payments for policyholders in the weather-beaten Midlands, southwest and the west of England.
Hill Dickinson director joins Garwyn
Garwyn Group has appointed former Hill Dickinson strategic & development director Laurence Ives to the new role of business development director.
Aviva launches updated behavioural driving app
Following its launch in August, Aviva has moved to improve its telematics app, and now says the software could save drivers up to 20%.
III plans Apac expansion
Singagpore-based India International Insurance Pte, a joint venture of India’s five State-owned insurance companies, plans to expand operations into Vietnam and Malaysia in the coming years.
Broking network Ten Insurance signs up two new members
Independent commercial brokers network Ten Insurance has signed up two new members in the form of Professional Indemnity and Pure Risks.
Skuld launches phsyical damage and liability cover for ports
Norwegian marine insurer Skuld has formed a new unit to offer combined physical damage and liability cover to ports and terminals worldwide.
Randall & Quilter buys Finnish reinsurer
Randall & Quilter Investment Holdings has reached agreement to acquire the entire issued share capital of Finnish domiciled reinsurer Alma Insurance Company from Tapiola General Mutual Insurance Company, subject to change of control approval by the Fin…
Swiss Re expecting $900m hit from Superstorm Sandy
Swiss Re is expecting its claims burden from Hurricane Sandy to be around $900m, net of retrocession and before tax.
Floods hit southeast as storms move north
Around 816 homes were flooded and two people died over the weekend after the country was hit with a deluge of rain.
'Flood insurance talks with government have broken down,' admits ABI
The Association of British Insurers has confessed that talks with government on reaching a joint solution on long term affordable flood insurance have broken down, describing the situation as “impasse”.
Sandy to cost Swiss Re $900m
Swiss Re has estimated that its claims burden from superstorm Sandy will cost $900m, net of retrocession and before tax.
Aviva policyholder action group slams 'ancient regime' as Moss’ NEDs stay on board
The Norwich Union Policyholder’s Action Group has criticised Aviva for retaining the four non-executive directors who sat on the board during former chief executive Andrew Moss’ tenure.
UK flood damage could top £1bn in 2012, says PWC
British insurers face the worst year of flood claims since 2007, and costs are likely to be passed on to customers, according to PWC.