News
Swiss Re's 2013 profits reach $4.4bn
Reinsurance giant Swiss Re increased profits and premiums last year.
AIA's profits rise 16%
Hong Kong-based life and health insurer AIA has posted operating profit after tax up 16% to $2.5bn for 2013.
Guy Carpenter launches cyber practice
Guy Carpenter has launched a cyber-solution specialty practice to develop cyber reinsurance to address the increasing risks associated with cyber security.
Generali Spain appoints Villa as CEO
Generali’s Spanish unit has named former Generali Seguros director general comercial Santiago Villa as its new chief executive.
Ace adds two to Nordic property teams
Ace has bolstered its Nordic property operations with an appointment in Norway and a promotion in Stockholm.
Willis recruits Copenhagen based political risk boss
Willis has bolstered its financial solutions unit with the appointment of a new leader for its Copenhagen based new political risk, terrorism and trade credit head.
VAT waiver for flood victims could be a boon for insurers
Insurers could see lower claims costs from the recent flooding if the government decides to apply a reduced rate of VAT to renovation and repairs for affected properties, according to accountancy firm Baker Tilly.
Axa inks £4m Saffron partnership
A new partnership between Axa and Saffron Insurance Brokers is expected to deliver over £4m in gross written premiums for 2014.
Fleet broker fitting all vehicles with cameras
Motor fleet broker Just Fleet is to become the first business to fit all vehicles with front-facing accident cameras.
ABI responds to Which? insurance campaign
The Association of British Insurers has responded to a Which? reported urging insurers to be more transparent on pricing at renewal by stressing that price is not the only factor to consider.
LMA demands rapid Competition Commission progress
The Lloyd’s Market Association is pushing for speedy reforms from the Competition Commission’s investigation into motor insurance, suggesting the body circumvents legal change.
Axa completes 50% acquisition of Tian Ping
Axa has completed the 50% acquisition of Chinese insurer Tian Ping's shares.
L&G makes personal lines motor debut after partnering with Junction
Legal & General has entered the personal lines motor market with the launch of a direct motor insurance proposition underwritten by a panel of insurers.
'Window of opportunity' and sum insured discussed at Claims Club Asia
In the first Claims Club Asia meeting of 2014, leading experts in the claims space gave their insights into how the claims community can ensure greater co-operation to help clients.
Innovation Group report highlights motor market evolution
Insurers must do more to put the customer at the heart of motor insurance following a year of unprecedented reform, according to Innovation Group sales director Ian Bowen.
Euler Hermes extends partnership with HSBC in Malaysia
Euler Hermes has become the exclusive supplier of trade credit insurance products to HSBC Commercial Banking customers in Malaysia.
Which? urges insurers to be transparent on renewal prices
Consumer watchdog Which? has launched a new campaign calling on insurance companies to show last year’s premium alongside renewal quotes.
Hardy CEO Merry replaced by Brosnan with immediate effect
Hardy has announced that Barbara Merry is to depart the insurer with immediate effect, replaced as chief executive by senior vice president of international, David Brosnan.
Allianz and Jelf renew engineering insurance arrangement
Jelf has reached a ‘preferred partner’ deal with Allianz Engineering that will see the insurer provide a new three-year facility for the majority of the broker’s engineering insurance and inspection business.
Watson cautious on potential rate rise as Ageas suffers £20m flood loss
Ageas UK chief executive Andy Watson has poured cold water on expectations household rates will undergo an imminent rise in light of ongoing flooding, which has so far cost Ageas £20m.
'Loss adjusting' will drift away says Innovation Group boss
After sealing a £35m deal to acquire LAS, Innovation Group chief executive Andy Roberts has forecast the demise of loss adjusting as terminology.
Ex-Gallagher Heath client director Fulthorpe joins UK General
UK General has taken on former Gallagher Heath client director Peter Fulthorpe as commercial division sales manager in the Midlands, Wales and the South West.
Salaries rise 30% for insurance-focused compliance professionals
Compliance, risk and audit professionals working in the insurance sector will earn up to 30% more in 2014 as a result of a shift in regulatory expectations and evolving businesses strategies.
CHO chairman demands further credit hire estimate cuts
Competition Commission reductions to the cost to credit hire do not go far enough according to Steve Evans, chairman of the Credit Hire Organisation.