News
Brit CEO vows to target growth while committing to Simply Business
Mark Cloutier has promised to go on the attack by targeting growth in key areas following a business restructure towards global specialty underwriting, which he describes as "99% complete".
Aviva tries to quit Taiwan again
Aviva has confirmed it is seeking regulatory approval to pull out of Taiwan.
AIA posts 28% rise in new business in H1
Pan-Asia life insurer AIA Group posted a 28% rise in the value of new business to $512m in the first half of 2012.
EIP extends affinity deal with Royal British Legion subsidiary
Equity Insurance Partnerships has agreed to extend its 10 year-old affinity partnership with Poppy Insure, the trading subsidiary of The Royal British Legion.
RBS denies speculation of affinity split with DLG
The Royal Bank of Scotland has denied suggestions that UK Insurance will be stripped of its position as personal insurance provider for banking customers following the upcoming separation.
Be Wiser targets college leavers following fourth office opening
Independent broker Be Wiser has marked continued growth in the business by opening the firm's fourth office in Andover.
Brit unveils positive 11.5 point COR swing as business takes new direction
The Brit Group has this morning recorded a combined operating ratio of 93.3% for the first six months of 2012 (30 June 2011: 104.8%), having completed a restructure into becoming a focused global specialty underwriter.
JLT buoyed by growth in Asia and Latin America as revenue jumps 7% to £441.7m
International broker Jardine Lloyd Thompson Group this morning reported total revenue was up 7% to £441.7m in the first six months of 2012 and an 11% rise in profit before tax to £85.1m. Underlying PBT increased 12% to £89.4m.
JLT profit grows 11% as UK economy woes stall Thistle growth
Revenue at Jardine Lloyd Thompson Group grew 7% in the first six months of 2012 to £441.7m, including a 6.3% increase in revenue generated from organic growth, compared with the same period in 2011.
Lloyd's Insurance Co China's 'A' rating affirmed
AM Best has affirmed the financial strength rating of A (Excellent) and issuer credit ratings of 'A+' of Lloyd's (UK) and Lloyd's Insurance Company (China) Limited.
Atradius advises global firms on pitfalls of Indian market
Credit insurer Atradius has released a guide on how to trade successfully with India, as part of a series of reports designed to help businesses trade profitably with the world's emerging markets.
Insured losses from Chinese storms expected to reach $78.7m
Insured losses from the severe storm that struck Beijing last Saturday are estimated at ¥500m ($78.7m), the city's insurance regulatory commission said on Thursday.
Cooter departs QBE after helping with Brit integration
QBE has confirmed the departure of Simon Cooter, former Brit director of market management and regional operations, having assisted in the business integration following the April takeover.
Lloyds GI profits fall 30% owing to PPI, pet and weather claims
Lloyds Bank's underlying general insurance profit decreased by 30 per cent to £158m (H1 2011: £226m) in the first half of 2012.
Council claims insurance fraud victory
Havering Council has avoided a fraudulent insurance claim that could have cost it £100 000 after the claimant pleaded guilty to contempt of court.
One Group confirms job losses
Travel claims and assistance specialist The One Group has confirmed redundancies following the loss of a contract with a key client.
Mapfre result down 20% owing to Eurozone impairments
Mapfre's attributable result fell 20.1% to €434.2m in the first half of 2012 after provisions and impairments resulting from the Eurozone crisis.
Eiopa guideline poll
Are insurers prepared for updated guidelines to Solvency II?
Insurers failing to tailor cyber products to European risks
Insurers are failing to provide cyber products tailored to the risks faced by European clients, according to CFC Underwriting's Graeme Newman.
BGL snaps up Dutch aggregator
BGL Group has acquired Dutch aggregator Verzekeringssite, further boosting its European footprint.
BGL Group buys Dutch aggregator site
UK personal lines broker BGL Group has acquired a Dutch insurance price comparison company, following the acquisition of French aggregator Courtanet in November 2010.
Q2 ILS issuance exceeded $2bn, Aon Benfield study shows
Catastrophe bond issuance for the second quarter of 2012 reached $2.1bn as investors continued to deploy capital into the sector, a report by Aon Benfield Securities revealed.
SMEs fear 'detrimental impact' of Eurozone crisis
More than one in 10 British SMEs have considered closing down in the past three months as a possible result of the economic situation, according to a new SME Risk Index from global insurer Zurich.
Groupama to sell Polish arm to Generali JV
Groupama has agreed to sell its Polish operation Proama to Generali PPF Holding, a joint venture between Italy-based Generali and central European investment group PPF.