News
Proposed cuts to fire service budgets could have major impact on insurers
The insurance industry is urging the government to implement a central fire and rescue policy in England amid fears that sweeping budget cuts will result in insurers paying the price for longer response times.
Insurers await outcome of 'dishonest' evidence appeal in Axa case
Several insurers are awaiting a Court of Appeal decision on Axa's use of allegedly "false" Autofocus evidence before potentially resuming out-of-court negotiations with Accident Exchange.
Motor insurance market reviews plans ahead of legislation and slowdown
Direct Line Group is primed to "execute a range of strategies" depending on how changes to the legal landscape play out next spring, according to the insurer's chief executive Paul Geddes.
Investing in the Profession: Howell Shone lands chartered status
Staffordshire-based broker Howell Shone has been granted chartered status.
Market moves: Fusion five mark the week's biggest move
Towergate-owned underwriter Fusion was the most active firm in the recruitment space this week, unveiling a new five-strong engineering team all joining from Aviva.
International brokers target London market for growth opportunities
International brokers are looking to London for opportunities to grow their businesses amid signs that the capital's mergers and acquisitions market is heating up.
New Yorkers to fall victim to second storm in less than two weeks
New York residents could be told to evacuate the city for a second time this month as winter storm Athena makes its way to the same areas battered by Sandy last week.
CMCs face fee hike under MoJ proposals
The Ministry of Justice has suggested raising application fees for new claims management firms in the coming year from £950 to £1400.
'Crippled infrastructure' hampers Sandy recovery
Assessing the scale of devastation wrought by Superstorm Sandy has been hampered by disruptions in fuel supply, communications and power, according to insurance firms on the ground.
McLarens brand in UK return as CEO Chalfant eyes deals
The McLarens brand has been resurrected in the UK insurance market after the loss adjusting group reclaimed the name in readiness to make global acquisitions in 2013.
Ageas to build broker brands as Groupama name phased out in UK
The Groupama Insurances brand is to be phased out of the UK marketplace following completion of the insurer's sale to Ageas UK.
Georgia's health insurance reforms based on German model
An overhaul of Georgia's medical insurance market will be based on the German Bismarck model, according to comments made by one of the country's MPs.
ING reveals job cuts as it posts 39.3% fall in operating result
ING said on Wednesday that 1,350 jobs are to be cut from its European insurance operations as the firm seeks to achieve a standalone future.
Markerstudy names operations director
Markerstudy Group has appointed Saleem Miyan, pictured, as group operations director.
Munich Re expects "mid three-digit million euro" Sandy hit
Munich Re expects its share of the losses from superstorm Sandy to be in the "mid three-digit million" euro range, based on primary estimates, but remains optimistic of achieving a €3bn profit for the 2012 financial year.
Ink hires ex-Towergate consultant Palmer as commercial director
Ink Insurance has appointed former Towergate sales development consultant Julian Palmer as commercial director at the Giles subsidiary.
IPipeline hires Greenberg to build Apac presence
Insurance processing solutions provider iPipeline has appointed Paul Greenberg as country manager for Japan and Asia Pacific.
Allianz to underwrite 'superfast' mobile network EE
Allianz and mobile phone insurance provider Lifestyle Services Group have signed a contract to provide mobile device insurance services to 4G network provider EE.
Acromas in Deutsche Bank talks
The chief executive of Acromas is understood to have met his counterpart at Deutsche Bank to discuss his firm's options.
Munich Re: Sandy to drive up property insurance prices
Munich Re's reinsurance operation produced a Q3 operating result of €1.2bn (Q3 2011: €665m) and premium income of €7.5bn (Q3 2011: €6.5bn).
Munich Re estimates Sandy losses close to £400m
Munich Re has estimated its share of the losses from superstorm Sandy at the "mid three-digit million" euro range, despite the high number of individual losses making it difficult to assess the extent of the damage.
Groupama takeover to add extra boost to 'record' Ageas profits
Ageas chief executive Barry Smith is confident that the addition of Groupama insurance activities will add further clout to performance, following nine months in which the firm's profit before tax and minority interests rose by 36.4%.
Second storm system set to hit New Jersey and New York
More US east coast disruption expected to hamper recovery efforts following superstorm Sandy.
Solvency II regulators must be more empathetic, KMPG says
Consultancy firm KPMG has outlined a series of measures that could be adopted to promote a more "robust" Solvency II framework and please regulators and businesss.