News
Rural ramps up underwriting team with ex-Aviva hire
Former Aviva commercial underwriter Simon Dixon has joined Rural Insurance's underwriting team as the first of four development underwriters the firm plans to recruit this year.
Consumers see insurance as essential not discretionary spend
When it comes to reducing expenses, European consumers are cutting back on discretionary areas such as dining out, holidays and clothing, but still see insurance as essential.
Zurich stresses importance of supply chain management
Organisations need to better understand the increasing complexity of their supply chain and evaluate the related risk exposures, according to Zurich.
RSA goes live with Xchanging settlement system
RSA has activated a new platform for internal net settlement developed by Xchanging and Deutsche Bank.
DLG inks Capgemini IT deal to leave RBS systems
Direct Line Group has signed a five-year deal with Capgemini for an independent IT system that will move the insurer from Royal Bank of Scotland Group tools.
Quindell reports £47m Ebitda
Quindell Portfolio's revenue is expected to reach £165m for the full year 2012 with adjusted Ebitda of approximately £47m, subject to audit.
Allianz puts Sandy loss at $590m
Allianz has estimated its hit from last year's Superstorm Sandy at €455m ($590m).
Hong Kong damages verdict due over 'mistaken' hospital treatment
Insurers in Hong Kong are waiting for a court ruling on damages claimed by two patients from the Hospital Authority after being paralysed following alleged mistaken medical procedures at hospitals.
Prudential eyes growing Asian middle class
Prudential's chairman has spelled out the huge growth potential in Asia.
China to increase foreign investment tenfold
China wants to encourage more overseas institutional investors into its capital markets.
Former Ace COO becomes Gibraltar's new insurance chief
The Government of Gibraltar has hired the former chief operating officer of Ace Global markets to lead insurance business development on the island.
Generali chief eyes €600m cost savings by 2015
Generali chief executive Mario Greco unveiled a programme of changes today aimed at reducing costs and increasing cash flow at the Italian insurer.
Ex-Provident chairman appointed Aviva NED
Aviva has appointed Sir Adrian Montague as non-executive director.
Plum launches MNW focused home product
Specialist household provider Plum has launched a new home insurance product, while HNW broker Castleacre has revealed that property rates can vary by as much as 8%.
S&P warns of "mounting pressure" on global insurers
The credit quality of global multi-line insurers is generally sound, despite a downward trend over the past four years, Standard and Poor's said today.
DAS targets fire and flood victims with Loss Assist product
Legal expenses insurer DAS is launching the latest version of its Loss Assist product to provide assistance for households that have suffered damage to property or contents.
Talanx expects €306m Sandy loss
German insurance giant Talanx AG expects a net claims burden of €306m from Hurricane Sandy.
Ace recruits European marine manager from Dutch insurer Achmea
Ace has swooped for a new marine manager responsible for continental Europe, including central and eastern Europe, in the form of Benoît Chasseguet.
ECIC parent appoints Metcalf as group finance director
EC Insurance Holdings, parent of Electrical Contractors Insurance Company and Electrical Contractors Insurance Services, has recruited MGM Advantage's head of finance to serve as group finance director.
Ace hires Achmea's P&C manager
Ace Group has hired Benoît Chasseguet as marine manager for Continental Europe, including the Central and Eastern European region.
Foil urges MoJ to bring forward fixed fee protocol
The Forum of Insurance Lawyers is calling on the Ministry of Justice to bring forward the introduction of a fixed fees protocol in relation to the planned extension of the RTA Portal.
Groupama targets classic vehicle owners with new products
Groupama Insurances has launched two products aimed at the one million-strong UK classic vehicles market.
Safety standards represent 'unfair' changes to workplace law
The Association of Personal Injury Lawyers has warned that the government's proposed changes to the Enterprise and Regulatory Reform Bill are "a licence for rogue bosses to let safety standards fall".
Lloyd's hails underwriting deal with Japanese FSA
The Lloyd's market today welcomed an agreement between Lloyd's Japan and the Japanese Financial Services Agency enabling Lloyd's-based insurers to insure such risks in Japan.