News
Munich Re hit by €175m Tianjin loss
Munich Re said it expects a net exposure of €175m (£125m) for the explosion in the Chinese port of Tianjin.
Xchanging pens three year deal with Lloyd's Asia platform
From 1 January 2016 Xchanging will provide technology to the Lloyd's Asia platform in Singapore.
Bart appointed Crawford's CEO for Asia-Pacific
Andrew Bart, Crawford's Pacific CEO, has been promoted to CEO Asia-Pacific.
Axa Philippines expands into P&C with acquisition
Axa Philippines has bought Charter Ping An from GT Capital as it extends into property and casualty insurance.
Fraudulent claimants ordered to pay £3000 to innocent driver
Claimants seeking personal injury damages have been found fundamentally dishonest and ordered to pay £3000 in exemplary damages to a driver who collided with them.
Allianz confirmed as Sharm el-Sheikh plane crash reinsurer
Allianz Global Corporate and Specialty has confirmed it is the lead reinsurer for the downed Russian airliner in Sharm el-Sheikh, Egypt.
New CEO announced for London Market Group
Benedict Reid will take over as CEO at the London Market Group from the end of November.
Motor pricing driven by return to pre-Laspo environment, Lewis contends
RSA UK and Western Europe CEO Steve Lewis is not expecting to see a wholesale shift in the market landscape before year-end with a challenging motor pricing environment reflecting pre-Legal Aid, Sentencing and Punishment of Offenders Act 2012 trends.
Insurance Europe report details widely ranging continental claims payouts
The cost of motor insurance claims varies widely across Europe, according to a report released by Insurance Europe, the European insurance and reinsurance federation.
Generali sees premium income climb to €54bn
Italian insurer Generali has reported a 5.1% increase in gross written premiums for the first nine months of 2015, taking the figure to €54bn (£38bn).
Insurers diversify as struggle with shallow talent pool continues
The skills shortage in UK general insurance has worsened - with figures from the Chartered Insurance Institute showing four out of five companies are struggling to get the expertise they need.
Profit plummets 48% at Zurich's UK business amid 'perfect storm'
Zurich UK general insurance CEO Vibhu Sharma has blamed “a perfect storm” of tough market conditions and greater the normal large losses for a plummeting business operating profit in the third quarter of 2015.
Lancashire sees GWP drop 20.8% in Q3
Lloyd's insurer Lancashire reported a 20.8% decrease in gross written premiums in the third quarter of 2015 to $120.4m (£78m) (Q3 2014: $152.1m).
Markel sees Q3 COR improve to 88%
Markel Corporation has reported a combined ratio of 88% for the third quarter of 2015, an improvement on the result of 97% in the third quarter of 2014.
Zurich a ‘distraction' for RSA in Q3
RSA group CEO Stephen Hester has called Zurich's "unsolicited approach" to RSA a distraction during the third quarter of 2015 in which RSA reported a 1% increase in core group underlying net written premiums.
IFB launches affiliate membership consultation
The Insurance Fraud Bureau has taken a step towards extending its services to defendant lawyers, private investigators and other industry suppliers, by launching a consultation on affiliate membership.
Hyperion looks to BP for CIO hire
Hyperion Insurance Group has appointed BP's group chief information officer Lyn Grobler to lead its technology and IT strategy.
AIG planning to axe 400 senior executives
AIG is planning to cut up to 400 senior staff in the US after posting a $231m (£149m) loss for the third quarter of 2015.
M&A activity leading to rise in warranty and indemnity insurance players
Law firms are increasingly recommending businesses take out warranty and indemnity insurance during the M&A transaction process leading to several brokers and underwriters entering the market, according to Lockton Companies.
UK, Turkey and Malta spur Mapfre growth
Spanish insurer Mapfre has posted a 46% increase in insurance premium revenue across Europe for the first nine months of 2015.
Watson commends 'stable' profits despite nine-month drop
Ageas UK CEO Andy Watson told Post he is unconcerned by the firm's nine-month results published today (4 November), which included a 25% profit drop.
L&G GI premiums slide 11% in nine months
Legal & General has reported an 11% drop in general insurance gross premiums for the nine months ended 30 September 2015 to £251m (9M 2014: £282m).
What you've been reading this week
The 10 most read stories on Post Online from 27 October - 2 November 2015.
Ageas UK sees profits fall to £46.9m
Ageas UK has reported a decrease in profits for the first nine months of 2015 - down to £46.9m from £63.2m in the same period last year.