News
Insurers prepare to tackle grey areas of GDPR as consultation opens
Concerns have been raised in the industry over grey areas regarding the implementation of the General Data Protection Regulation.
Axa UK boss Tortuyaux joins RSA France
Former Axa UK boss Gaëlle Tortuyaux has joined RSA France as managing director.
Zhong An seeks $11bn IPO valuation
Hong Kong-based online property and casualty insurer Zhong An is planning to seek an initial public offering valuation of up to $11bn (£8.3bn).
M&S Insurance corrects renewal letter to remind customers to shop around
Exclusive: M&S has contacted its general insurance customers to remind them that they can shop around for cheaper insurance, following the introduction of renewal transparency laws.
Munich Re warns on Q3 loss following Harvey and Irma
Reinsurance giant Munich Re has said it could miss its full year 2017 profit target as a result of extensive damage from hurricanes Harvey and Irma.
Customers want more services, says Bain & Co.
There is a growing divide in insurance between low-cost providers and those trying to differentiate themselves by offering more services according to global consultancy Bain & Co.
Generali Asia appoints former AIG executive as chief customer officer
Generali Asia has appointed a former AIG senior executive as chief customer officer for the region.
Police investigating fraud allegation following closure of Ipswich broker
Exclusive: Police are understood to be investigating an allegation of fraud, following broker Ignition Select entering administration.
LV reduces headcount by 400 in £40m cost-cutting drive
LV has reduced its headcount by 400 over the past year as part of a £40m cost-cutting drive.
Insurance growth to drive infrastructure resilience boom: World Bank CFO
Insurance sector efforts to boost coverage in both developed and undeveloped markets has the potential to create more resilient infrastructure and mitigate risks, the World Bank’s chief financial officer has said.
Global firms launch blockchain prototype for reinsurance transactions
The Blockchain Insurance Industry Initiative, B3i, will begin market beta-testing of its reinsurance blockchain prototype for reinsurance transactions.
Reinsurers ‘living off the past’ says AM Best executive
"Concerning" negative trends within the non-life reinsurance market have been hidden by loss reserve development, an AM Best executives has said.
Ogden decision may not curb reinsurance rate rises, says LV's Treloar
The government’s Ogden decision may not curb expected reinsurance pricing rises, LV general insurance managing director Steve Treloar has said.
Claims Club: Brokers tell insurers there is disconnect between internal ambitions and the claims reality
Insurers need to improve internal communication and break down silos to provide brokers and their customers a better service.
Claims Club: Co-op insurance chief calls for industry collaboration during next flood event
The chief operating officer of Co-op Insurance has called on the insurance industry to collaborate better during major flood events.
Claims Club: Ogden rate change 'has triggered major underinsurance issue in liability cover'
The insurance industry is not doing enough to protect clients from underinsurance in liability claims as a result of the Ogden discount rate changes, the sector has been warned.
Harvey highlights insurance penetration shortfall says Aon Benfield
A significant proportion of the flood losses generated by Hurricane Harvey in Texas and Louisiana will be uninsured, highlighting the existence of a global protection gap, Aon Benfield has said.
Generali sells Generali Nederland to ASR Nederland
Generali Group has entered into a share purchase agreement to dispose its entire shareholding in Generali Nederland.
Reinsurance role at an ‘inflection point’ for disaster relief: WTW CEO
The global reinsurance sector is at an inflection point in how it is utilised by the humanitarian sector, according to Willis Towers Watson’s CEO of capital science and policy.
JRW Group eyes expansion as it rebrands as Ripe
The JRW Group has rebranded as Ripe, as the business seeks to expand into further niche lines.
Catlin calls for industry cooperation on tackling protection gap
Industry veteran Stephen Catlin has called on the reinsurance and insurance sector to cooperate and work together in closing the protection gap.
LV reports £49m GI operating profit during H1 2017
LV has reported a strong growth in its general insurance operating profit which went up to £49m in the first half of 2017, compared to £22m in the same period last year.
Axa to "rebalance" IT roles in Asia
Global insurer Axa has said it is "rebalancing some roles in the region" following a report it is cutting around 250 staff from its centralised Asia IT operations in Hong Kong.
Insurers may be forced to re-write cyber policies in preparation for GDPR
Insurers offering cyber policies may see themselves having to adjust the wording of their cyber policies as the General Data Protection Regulation comes into effect.