News
Ogden change sees Esure's reinsurance costs rise by a third
The change to the Ogden discount rate added a third to the cost of Esure’s reinsurance, company results have revealed.
LSM launches fine art and specie in the Netherlands
Liberty Specialty Markets is to begin underwriting fine art and specie in the Netherlands.
Axa reports reduction in COR and improvement in underwriting profit in H1
Axa has reported an improvement in its underwriting profit and a reduction in its combined operating ratio which fell to 97.7% in the first half of 2017 from 98.2% in the same period last year.
LV confirms talks with Allianz over GI stake sale
LV has confirmed that it is in discussions with Allianz regarding a potential sale of a significant minority stake in the insurer’s GI operation.
Aviva sees profit grow and COR improve in H1
Aviva’s general insurance and health division grew its operating profit by 25% over H1 2017, up to £417m from £334m for the same period last year.
Germany spurs Axa's first half global P&C results
Paris-headquartered insurer Axa's 2017 P&C results for the first half were buoyed by strong performances in Germany, its EMEA-LatAm business and Axa Corporate Solutions.
Esure's profit leaps 44.6% in H1
Esure saw its profit before tax from continuing operations rise 44.6% in H1 2017, to £45.1m from 31.2m for the same period last year.
AIG's global commercial premiums fell 15% in Q2
US global insurance giant AIG posted a 102.7% combined operating ratio for commercial lines in the second quarter.
Suncorp's FY insurance profits climb 30% in Australia; drop 55% in New Zealand
Brisbane-headquartered financial services group Suncorp saw mixed results in its two key insurance markets for the full year ending 30 June.
Lemonade expands to fourth state since launching
Lemonade has launched its Artificial Intelligence-driven insurance product in New Jersey, making the state the fourth that it has expanded into.
Inga Beale elected CII president
Inga Beale has been elected the 121st president of the Chartered Insurance Institute at the professional body’s Annual General Meeting held in London today.
Novae and Axis boards give acquisition the green light
The boards of Novae and Axis have agreed the terms of sale that will see the Bermuda-based reinsurer take over the Lloyd’s carrier.
Ed goes live with new trading platform to complement PPL
London market broker Ed is rolling out its own digital trading platform that will complement Lloyd’s payment placement platform.
Open GI completes acqusition of Transactor
Open GI has completed its transaction of rival software house Transactor Global Solutions.
Kanye West sues Lloyd's syndicates for $10m over cancelled tour dates
Kanye West is suing numerous Lloyd’s syndicates for $10m over the artist’s cancelled tour.
Penny Black's Social World - August 2017
Daring to believe, running to achieve and a video to bereave
Novae makes £14m loss before tax in H1
In its first set of results since being acquired by Axis, Novae has revealed that its combined operating ratio deteriorated 5.9% over the past year, from 95.7% to 101.6% in H1 2017.
RSA UK underwriting profits fall by £59m in H1
Insurance giant RSA saw its underwriting profit take a £59m hit from the impact of the Ogden discount rate and other losses in H1, compared to the same period last year.
QBE to repay millions in Australia following add-on review
Australian giant QBE will repay customers A$15.9m (£9.6m) following a review of add-on insurance sales by the Australian Securities and Investments Commission.
Willis Towers Watson's Schreiber to join JLT in Hong Kong
Willis Towers Watson senior director Kurt Schreiber will be leaving the global and broking advisory firm to join rival JLT.
AA fires executive chairman for ‘gross misconduct’
The AA has fired its executive chairman Bob Mackenzie for "gross misconduct".
Direct Line results strengthened by weaker than expected Ogden hit
Direct Line’s strong H1 results were in part helped by the insurer taking a smaller hit from the change to the Ogden rate than expected.
Fadata in 'investment mode' as it acquires technology specialist Impeo
Exclusive: Fadata Group has acquired Munich-based technology specialist Impeo and its subsidiaries.
Lord Justice Jackson scales back fixed recoverable costs proposal
Lord Justice Jackson has recommended extending fixed recoverable costs for fast-track legal cases and a new fixed cost intermediate track for claims worth up to £100,000.