News
VIG plans for growth as €172m preliminary profit announced for 2015
Vienna Insurance Group has targeted at least 10% growth in Poland, Hungary, Croatia and Serbia over the medium term as the company announced a €172m (£134m) preliminary profit before tax for 2015.
Admiral’s Engelhardt says 'thank you' to employees with £7m in cash
Admiral CEO Henry Engelhardt will mark his retirement in May by giving away £7m of his own money to employees.
ECJ decides claims handling should be subject to VAT
Insurers and policyholders could be facing increased costs following a European Court of Justice decision that claims handling was not within the scope of the VAT exemption for insurance-related services.
QBE to move on from England sponsorship with new sporting deal
QBE will unveil a new sporting sponsorship deal next month following the expiry of its partnership with England Rugby last year, Post can reveal.
Integro snaps up Lloyd's broker CSWH
International insurance broker and risk management firm Integro has acquired Lloyd’s broker Croton Stokes Wilson Holden.
Budget 2016: Flood defences spend 'too little, too late'
The insurance premium tax rise and resulting £700m spend on flood defences could be "too little, too late" according to loss assessment firm Harris Balcombe.
QBE signs analytics partnership with WNS
India-based global business process management company WNS has signed a worldwide deal with Sydney-based insurance giant QBE.
Ecclesiastical achieves biggest underwriting profit in six years
Ecclesiastical CEO Mark Hews has heralded “a set of extremely positive results” after the insurer recorded an 11% rise in pre-tax profits to £53.6m in 2015 (FY 2014: £48.2m) alongside its biggest underwriting profit since 2009.
Budget 2016: UK to be driverless cars ‘centre for excellence’
A £15m "connected corridor" from Dover to London and further driverless car and truck trials were all announced in today's (16 March) Budget.
Budget 2016: FCA to regulate claims management companies
The government has transferred responsibility for regulating claims management companies to the Financial Conduct Authority after accepting the recommendations of the independent review into the regulation of CMCs.
Budget 2016: Osborne increases IPT 0.5% with funds raised to be spent on flood defences
Insurance premium tax will rise again with Chancellor of the Exchequer George Osborne today (16 March) announcing in his Budget speech a 0.5% increase effective from 1 October.
Forces Financial offers free telematics with car insurance
Forces Financial, the financial services firm for the UK military, is offering a free telematics device with all new car insurance policies from 21 March.
BGL's Minster Law reports £35m loss as IPO talks ongoing
BGL Group's legal services business recorded a £35m loss in the financial year ended 30 June 2015 as group profit before tax fell to £70.4m (2014: £82.7m).
Friendsurance remains unprofitable as CEO outlines growth plans
After six years of operation German start-up broker Friendsurance has failed to make a profit but this is part of the company's growth plan, according to its CEO.
CII's Fisher proposes insurance apprentice 'buddy scheme' to government
Sian Fisher, CEO of the Chartered Insurance Institute, has written to the government to propose an insurance buddy scheme for apprenticeships, which would take advantage of the ability to use levy contributions outside of firms.
Bilney leaves FP Marine after 20 years
Philip Bilney, group CEO of Hong Kong-headquartered FP Marine Risks, has decided to leave the company.
London is 'open for business' to Brazil says IUA's Matcham
International Underwriting Association CEO Dave Matcham has encouraged Brazilian customers to do business with London after changes to reinsurance regulation in the country have made it easier for clients there to access the London Market.
Tokio Marine Kiln appoints Paul Culham as group CUO
Tokio Marine Kiln has appointed Paul Culham as group chief underwriting officer with effect from 1 April 2016, subject to regulatory approval.
James Gerry appointed as MGAA chair
The Managing General Agents’ Association has elected James Gerry as chairman following the first meeting of its new board on Monday.
Dale Underwriting takes Marketform's medical malpractice business
Lloyd's underwriter Marketform has stopped writing international medical malpractice business and transferred its book of business to Dale Underwriting Partners.
Zurich's Spencer links climate risks with economic growth in Asia-Pacific
Stuart Spencer, general insurance Asia-Pacific CEO at Zurich, warns the Asia-Pacific region could face a "perfect storm" if it fails to understand the full impacts of climate change.
Ping An's profits climbed 38% in 2015
Chinese financial services giant Ping An has reported a 38% rise in profits in 2015 to 54.2bn yuan (£5.88bn) compared with 39.3bn yuan in 2014.
Two 'manageable' issues holding up Flood Re PRA authorisation three weeks from launch, CEO McCafferty admits
Flood Re still has two obstacles to overcome before it is granted authorisation by the Prudential Regulation Authority - despite only being three weeks away from its proposed launch date (4 April).
Continuity for Aviva and brokers key as CFO Holmes takes on UKGI top job
The internal appointment of Colm Holmes to take over the Aviva UK general insurance reins from Maurice Tulloch has been billed as good news for brokers by commentators both insider and outside the insurer.