News
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.
UK insurer CEOs lament IPT hike as H1 results are squeezed
Industry CEOs have criticised the government’s "regressive" decision to increase insurance premium tax, but have dismissed the tax hike represents a disconnect from government, amid widespread profit drops and combined operating ratio deterioration at…
Quindell names technology expert Mukerjee as CEO
Embattled outsourcer Quindell has appointed technology and industrial sector stalwart Indro Mukerjee as its new group CEO.
Wreckage spotted as Indonesian authorities hunt missing plane
Wreckage has been spotted in the Indonesian mountain province of Papua after a plane carrying 54 people went missing.
PMI broker Chase Templeton acquires Atlas Consulting Group
Private medical insurance intermediary Chase Templeton has acquired Rochdale-based Atlas Consulting Group, bringing £13.8m annual premium income to the company.
Allianz wins judgment on ‘unreasonable’ issuing of court proceedings
Allianz has successfully defended itself from having to pay seven times more in costs for a personal injury case after a judge ruled the claimant had issued legal proceedings prematurely.
Allianz appoints new broker partnership manager
Allianz Insurance announced today (14 August) that it has appointed Stacey Keen to its Retail division as broker partnership manager.
Deloitte promotes Rush to insurance leader
Deloitte has appointed senior audit partner David Rush as insurance head and Europe, Middle East and Africa insurance group co-head.
Hundreds of London market wordings threatened by Insurance Act
Hundreds of model policy wordings used by the London market may require amendment in light of the new Insurance Act, according to the Lloyd's Market Association.
Tianjin explosion death toll climbs to 114 as Allianz and Zurich receive claims
At least 114 people are dead after two huge explosions on Wednesday night at a chemical and dangerous goods warehouse in the Chinese port city of Tianjin.
Flood Re starts ‘on-boarding' process
Flood Re has started its on-boarding process that will ensure those businesses wanting to participate in the scheme are ready to use it by April 2016.
Insurance quiz of the week - 14 August 2015
It’s that time to put your knowledge of this week’s insurance news stories to the test. Once again, it’s not just for fun – England rugby tickets are up for grabs!
Chinese property group raising money for Asia-Pacific reinsurer
Chinese property company Oceanwide Holdings is planning to launch an Asia-Pacific reinsurer.
Insurers pledge support to intermediated motor market after RSA withdrawal
Large insurers have remained staunch in maintaining their presence in the personal lines broker motor market after RSA announced on 12 August it is to fully withdraw from the channel.
Integro boosts aviation presence with division acquisition
Broker Integro has acquired the aviation division of AFL Insurance Brokers creating an additional UK-based aviation team.
Blanc claims Axa is unrecognisable from past and defends business merger
Significant improvements at Axa in the UK over the past five years mean the insurer is in a very different place ahead of the planned merger of its commercial and personal lines business, according to CEO Amanda Blanc.
Axa reveals structure of new combined UK GI operation
The new Axa Insurance is to be split into four business units following the reorganisation of the insurer's UK general insurance activities which will take effect on 1 January 2016.
Win England vs Ireland rugby tickets by completing the Post quiz
For your chance to win a pair of tickets to the England vs Ireland 2015 QBE International at Twickenham on 5 September complete this week's Post news quiz.
Government to 'encourage' insurers to join nuclear market
The government plans to encourage more insurers to enter the nuclear insurance market, to ensure there is sufficient capacity for planned nuclear power stations in the UK, the parliamentary under-secretary for climate change said this week.
ERS delivers £2.8m loss as transformation project takes its toll
Broker-only motor insurer ERS has attributed costs associated with its ongoing transformation project and reduced investment income as drivers behind it delivering a £2.8m loss in the first half of 2015.
GRP backs £25m premium Northern Irish broker's MBO
Northern Irish broker Abbey Bond Lovis has completed a management buyout backed by insurance investment vehicle Global Risk Partners.