News
AIA profits climb 34%
Hong Kong-based life and health insurer AIA posted pre-tax profits of $1.93bn for the first six months of the year.
CFC enters intellectual property market
Specialist lines Lloyd’s underwriting agency CFC has launched an intellectual property product following the transfer of Munich Re’s intellectual property team led by Erik Alsegard.
Broker to head Let Alliance board
Broker David Hill has been appointed non-executive director to the Let Alliance board.
Be Wiser grows turnover 24%, but profits slip
Andover broker Be Wiser has reported substantially boosted income in its figures for the year to 31 March.
Midlands property claims spike after heavy rains
Heavy storms have generated a surge in claims for adjusters, with some regions receiving as much as 2 inches of rain in half an hour.
Growth predicted for Iceland’s insurance industry
Iceland’s possible entry into the EU could further strengthen its insurance industry, a study from Timetric predicts.
Mapfre boosted by international growth as H1 profits climb 5%
Spanish insurance group Mapfre has seen growth in Latin American and other international territories bolster its pre-tax profits climb in spite of a contraction in its home market.
Mapfre grows pre-tax H1 profits 5%
Spanish insurance group Mapfre has seen its pre-tax profits climb in spite of a contraction in its home market.
RAC launches telematics product with Risk Technology
Telematics provider Risk Technology and motoring organisation RAC are teaming up to launch a product to help drivers in the event of a breakdown.
Northdoor enters cyber-services partnership with 24 Lockdown
Insurance services provider Northdoor has formed an exclusive partnership with 24 Lockdown, a security and technology consultancy service in the cyber risk arena.
Questgates strengthens motor division
Specialist loss adjuster Questgates has appointed two new motor case managers to its motor division, following an increase in the volume of new instructions from both new and existent clients.
Lancashire delivers 58.8% H1 COR
Bermudian insurer and reinsurer Lancashire has reported a combined ratio of 58.8% for the first half of the year, and 66.9% for Q2.
Middle quits Aviva to become Ageas partnerships director
Aviva’s Ant Middle is stepping down from the role of strategic partnerships director to take on a similar position at Ageas.
Renewable energy market could triple insurance spend by 2020
The amount spent on insurance annually to mitigate risks to renewable energy projects could triple by 2020, according to a new report sponsored by Swiss Re.
Renewables market could triple insurance spend by 2020
The renewable energy industry could triple its annual insurance spend by 2020 to mitigate risks to projects, according to a new report sponsored by Swiss Re.
Irish health insurer VHI signs deal with Berkshire Hathaway
State-owned Irish health insurer VHI has signed a €700m deal with US investor Warren Buffet’s company Berkshire Hathaway.
Apil welcomes much-awaited mesothelioma consultation
Claimant lawyers have welcomed the opportunity to speed up the resolution of mesothelioma cases following the release of a consultation on these claims.
Perils publishes Maximum Flood Extent Map for European floods
Perils AG, the independent Zurich-based provider of industry-wide catastrophe insurance data, today released its Final Maximum Flood Extent Map for the floods which affected Central Europe in June 2013.
Fraud costs the industry £1.1bn a year
Fraudulent insurance claims uncovered by insurers have topped £1.1bn a year as the industry’s clampdown on insurance cheats intensifies, according to a figures by the Association of British Insurers.
A quarter of global economic losses in H1 covered by insurers
Around 24% of global economic losses of $85bn during the first half of 2013 were covered by insurance, according to Aon Benfield’s Impact Forecasting centre.
Aon analysis shows 24% of H1 losses covered by insurance
The $20bn (£13bn) total of insured losses for the first six months of the year was approximately 20% below the 10-year average of $25bn (£16.3bn), according to Aon Benfield’s Impact Forecasting centre.
Willis UK in single digit dip as group organic growth increases
Willis’ UK operation experienced a single digit decline in the second quarter, amid a backdrop of the group-wide organic commissions and fees growth of 6.3%.
$20bn of natural disaster insured losses in first half of 2013
Global natural disaster losses during the first half of 2013 on both an economic and insured basis were each below the recent 10-year (2003-2012) averages according to Impact Forecasting.
79 killed in Spanish train crash
A train derailed near the town of Santiago de Compostela in North-western Spain on the evening of 24 July killing at least 79 people and injuring up to 131.