News
PIB tipped to make rival Jelf bid as GRP refutes interest
Brendan McManus’s PIB has been tipped as a potential alternative bidder for Jelf amid doubts other businesses have the financial firepower to outbid broking giant Marsh.
Admiral calls for fixed IPT levy to level playing field
Admiral has called for a fixed insurance premium tax levy, saying the way the tax is currently collected punishes those who can least afford it.
CII members upbeat on business prospects amid upturning economy
The majority of Chartered Insurance Institute members are anticipating an upswing in their financial performance over the coming year as optimism regarding the UK economy gathers momentum.
Marsh eyes Jelf acquisition as takeover talks confirmed
Jelf has confirmed it is in takeover discussions with Marsh in relation to the global broker acquiring the entire issued and to-be-issued ordinary share capital of Jelf.
Higher reserve releases drive 6% increase in Admiral motor profits
Admiral CEO Henry Engelhardt has branded the opening six months of 2015 “a good start to a challenging year” after the insurer delivered a 1% increase in group pre-tax profit to £186.1m (H1 2014: £184.9m).
Tianjin explosions could cost insurers $1.5bn, says Fitch
Fitch Ratings in Hong Kong is estimating that losses from the deadly explosions in Tianjin on 12 August could cost insurers as much as $1.5bn (£957m).
Post presents five Asia events in September
Post and Post Events are excited to be hosting five events across China, Hong Kong and Singapore in September.
Claims Awards Asia 2015: Shortlist announced
Post is pleased to announce the shortlist for the Claims Awards Asia 2015.
Insurance Data & Technology Asia: Q+A with AIG's Jason Kelly
In the lead up to Post's Insurance Data & Technology Asia event in Hong Kong, we interview Jason Kelly, AIG's head of financial lines Asia-Pacific, about cyber risk.
Win John Lewis vouchers with Post's natural hazard survey
Post, in partnership with the Met Office, is running a natural hazard risk survey to provide in-depth insights into how insurers manage these risks to improve underwriting performance and mitigate claims exposures.
Senior insurance managers' regime rules open to interpretation
The application of the senior insurance managers' regime has been deemed open to interpretation by market commentators, amid predictions brokers could be subject to a similar, more informal, regime in the future.
German insurers have largest foothold in €3.86bn travel and assistance market
The stand-alone travel insurance and assistance market across 20 European countries totalled €3.86bn (£2.45bn) in terms of gross written premiums in 2014 and is forecast to rise to €4.54bn by 2018.
Quindell inquiries expected to run for years as shareholders seek redress
Hundreds of shareholders of beleaguered outsourcer Quindell are gearing up to seek compensation following “misleading statements” by the firm’s former management, as market insiders reveal investigations into the company could run for several years.
Towergate bolsters London broking teams with triple hire
Towergate has appointed former Willis development director Richard Morgan to the role of sales and service director for its newly established City branch.
CEO change at Cunningham Lindsey Ireland as Cregan replaces Ryan
Cunningham Lindsey Ireland has promoted Gillian Cregan to the role of CEO following more than 15 years at the loss adjuster.
UK PI sector to reach £1.5bn GWP in 2019, Timetric predicts
The UK professional indemnity insurance sector will be worth more than £1.5bn in 2019, advisory firm Timetric has forecast.
Poor customer service and jargon driving motorists to switch insurer
Problems with understanding motor policies have been highlighted by more than half of the customers that took part in a Consumer Intelligence poll designed to understand what drives behaviour around switching insurer.
QBE Europe eyes full year growth after delivering soaring H1 profits
A benign catastrophe period and continued favourable prior accident year reserve development have been credited for an 184% increase in insurance profit to $278m (£178m) at QBE European Operations at the halfway marker.
FCA ends Quindell investigation in light of SFO probe
The Serious Fraud Office’s decision to launch an investigation into previous business and accounting practices at Quindell has led to the Financial Conduct Authority discontinuing its own inquiry.
Actions against company directors surged by a third in Asia last year
There were 82 regulatory and criminal actions against company directors in Asia last year according to data from AIG.
QBE gains in first half from asset sales and improved COR; CEO targets growth
Sydney-headquartered QBE saw a 24% rise in first half after tax profits to $488m (£331m) compared with $392m in the first half of last year.
Tourists targeted in deadly Bangkok bombing
At least 20 people have died and over 100 have been injured following a bomb explosion yesterday in central Bangkok.
Insurers pessimistic about swift NIHL claims drop despite government action
Government-led measures to clamp down on unmeritorious industrial deafness claims will not trigger a short-term decline in record-breaking claims volumes, according to industry bosses, although the prospect of a Medco extension has been mooted as a long…
CMC boss jailed for bogus police car collision claims against Travelers
A claims management company director has been jailed for 12 months for his part in pursuing claims on behalf of an unknowing group of schoolboys who had been involved in a collision with a police car.