News
IFB assists on 1000 fraud arrests
Police have this morning made the 1000th arrest as a result of result of information and support provided by the Insurance Fraud Bureau.
Whiplash medical fee cap ‘credit positive’ says Moody’s
Plans to limit the cost of medical reports are credit positive for UK motor insurers according to rating agency Moody’s, in spite of the expectation that such moves will also further lower premiums.
Allianz H1 profits down £20m on weather losses
Allianz has notched dipping pre-tax profits for the first half of 2014 as it seeks to recover from severe weather losses in Q1.
Global insurance law alliance Insuralex unveils Connelly as new president
Insuralex, the global insurance lawyers group, has elected Michael Connelly, a partner of Connelly Baker Wotring, as president.
Video: Allianz Commercial general manager Simon McGinn (Part Two)
In the second of two videos Allianz Commercial general manager, Simon McGinn discusses how his business plans to connect with brokers to help it achieve its objectives, and what concerns he has over renewed levels of consolidation among intermediaries.
Markel underwriting results hit by 'unfavourable' asbestos and environmental developments
Markel has reported H1 performance hit by $27.2m (£16.2m) of adverse development on asbestos and environmental exposures
Catlin's profits climb 118% in first half
Catlin recorded profit before tax of $318m in the first half of 2014.
Quindell update fails to halt tumbling share price
Quindell's share price has fallen by almost 25% over four days of trading, in spite of optimistic trading updates issued by the firm.
Hughes’ Murphy joins Apricot
Northern Irish broker Apricot has recruited Elaine Murphy from Hughes to serve as Belfast branch manager.
Zurich UK off-sets £35m Q1 flood losses as attritional loss ratio improves
Zurich UK general insurance interim chief executive Dave Smith has heralded an improved attritional loss ratio as an instrument of off-setting £60m of flood losses and long-tail liability costs incurred in the first half of the year.
Arista underwriter Rolfe heads to Bluefin
Bluefin has swooped for Arista senior underwriter Sian Rolfe, naming their new recruit as underwriting product manager.
CNA Europe names Hardy boss Brosnan as CEO
Hardy chief executive Dave Brosnan has been promoted to a new role as CEO of CNA Europe, replacing John Hennessy.
Integro acquires film broker Stonehouse Conseillers
Integro has further expanded its entertainment practice with a deal to acquire London-based broker Stonehouse Conseillers.
RSA plays down redundancy speculation
RSA commercial managing director John Hancock downplayed suggestions of large scale job cuts at the insurer, despite news that it plans to cut 19% of its UK expense base.
FCA fines Stonebridge £8.4m for mis-selling accident insurance
Stonebridge International Insurance has been slapped with a £8.4m fine by the Financial Conduct Authority after issues were uncovered with the broker’s sales of accident insurance products.
Aviva eying turnaround on UK NWP
Aviva is seeking to reverse the shrinkage of its UK general insurance book after reporting tumbling net written premiums for the second successive quarter.
Video: Allianz Commercial general manager Simon McGinn (Part One)
In the first of two videos Allianz Commercial general manager, Simon McGinn discusses his businesses five year plan to be the largest insurer in its chosen market.
SRA's minimum terms change in doubt after LSB delays approval decision
The Solicitors Regulation Authority’s plan to cut the mandatory professional indemnity limit for solicitors in time for the October renewal season looks in doubt after the Legal Services Board extended the time-frame for making a decision on the change.
RSA cutting 19% of UK expense base
RSA plans to cut almost a fifth of its UK costs as it seeks to reach a target of £180m in savings globally, roughly 10% of its total costs.
Aviva posts UK COR of 94.3% for H1
Aviva's UK general insurance business recorded a 94.3% combined operating ratio in the first six months of 2014- its lowest in seven years- despite being hit by floods in the early part of the year.
Zurich unscathed by winter floods as UK H1 profits rise 9%
Zurich has trimmed three percentage points off its UK combined operating ratio over the past 12 months to 95% (H1 2013: 98%), while increasing business operating profit by 9% to £88m in the first half of 2014.
RSA returns to profit in H1 amid falling premiums
RSA chief executive Stephen Hester claimed the firm's strategic action plan was “ahead of schedule” as the group saw a return to profit for the first half of 2014.
Bank of England insurance director Adams heads to Pru
The Bank of England’s executive director of insurance supervision has been recruited by Prudential, where he will serve as group regulatory director.
Munich Re posts solid first half results
Munich Re posted a profit of €765m (£608m) for the second quarter of 2014, and a profit for the first half-year of €1.69bn (£1.34bn).