News
Hong Kong insurers see 10% premium rise in first nine months
Hong Kong's insurance industry posted a 10% increase in gross premiums in the first three quarters of 2012, to reach $190.1bn, figures published by the Office of the Commissioner of Insurance showed.
Mass calls for government to assess FRC impact
The Motor Accident Solicitors Society has urged the government to conduct an impact assessment on the fixed recoverable costs consultation results, fearing the outcome could have a detrimental effect on accident victims' rights.
Groupama takes Carole Nash off the market
Groupama's broking arm has withdrawn the motorbike broker Carole Nash from sale, deciding to keep the business with the parent company.
Ex-Lockton business operations boss Barwell moves to Giles
Giles has appointed former Lockton risks solutions boss Stephen Barwell to the role of head of business operations.
Changing consumer habits see Asian insurers embrace e-business
The proportion of Asian insurers' premium income from online sales is increasing, as more insurers embrace the internet as a distribution channel, according to Celent.
Allianz linked with German public sector insurer
Allianz could make a bid for German public sector insurer Provinzial Nordwest, but may have trouble wooing the firm's shareholders, according to a Reuters report.
Transactor secures Minster Court base
Insurance software house Transactor's London market operation is to move into the London Underwriting Centre from February 2013.
Helvetia completes Gan acquisition and confirms Letac as CEO in 2013
Helvetia has completed its acquisition of the French transport insurance portfolio of Gan Eurocourtage.
Ecclesiastical sales students graduate from academy
Twenty-three Ecclesiastical sales academy students have become the first to be awarded postgraduate diplomas having completed the two-year course.
Towergate Insurance acquires Norwich and Peterborough Insurance Brokers
Towergate Insurance has completed its 25th acquisition of 2012, securing a deal to pick up the business and assets of Norwich and Peterborough Insurance Brokers.
European Commission insurance boss van Hulle steps down
The European Commission's insurance head, Karel van Hulle is to retire at the end of January.
Quindell swoops for Accident Advice Helpline parent
Quindell Portfolio has completed a deal to acquire Accident Advice Helpline parent Abstract Legal Holdings from 2 April.
Besso secures £5m in investment funding
Independent broker Besso Insurance Group has completed a deal to secure an additional £5m in investment capital from shareholders to support growth plans.
PICC lists on HK exchange
Chinese state-owned insurer PICC Group raised $3bn in its Hong Kong's initial public offering today.
Middlesea launches assistance app in Malta
Middlesea Assist has launched a smart-phone application that will provide automated response for its roadside assistance service in Malta.
Axa offers interim payments to flood-hit customers
Axa is offering interim payments to households and businesses hit by the recent floods in the UK.
Imperial challenges "underhand" practices
The founder of Imperial Consultants is appealing to insurer partners to back him up in his bid to tackle what he describes as the “filthy and underhand” tactics of some of his competitors.
FSCS £21m levy increase on brokers is ‘kick in the teeth’
The Financial Services Compensation Scheme is to raise the insurance intermediary sub-class levy by a further £21m in the first quarter of 2013 owing to an increase in payment protection insurance compensation.
CIGNA & CMC launch expat health cover in China
CIGNA & CMC Life Insurance, a joint venture between CIGNA and China Merchants Group, has launched a new health insurance plan for the Chinese market.
Ferma opposes environmental liability fund
The Federation of European Risk Management Associations has urged the European Commission not to create of a fund to cover environmental liability and losses resulting from industrial accidents.
MP slams Defra u-turn on lost letters
The MP for Hull North has criticised the Department for Environment, Food and Rural Affairs for suddenly claiming it has found residents' 300 'lost' letters on flood insurance- likening the situation to an episode of the political comedy, "The Thick of…
Insurers accused of 'grandstanding' in PM's questions
David Cameron has told MPs he wants to resolve the uncertainty surrounding the future of flood insurance and called on insurers to "provide what they are meant to provide".
Covéa signs three-year deal with vehicle repairer Fix Auto
Covéa Insurance has awarded vehicle repair company Fix Auto a three-year deal to become part of its approved repairer network following a 12-month trial.
Purely targeting motor customers by occupation
Revived insurer Purely will base its underwriting on customers' occupations.