News
Third insurance summit set for this autumn
A further insurance summit will take place in the autumn following yesterday's second meeting in Whitehall.
Aviva shareholders reject executive pay package at AGM
Insurer Aviva has lost the vote on executive pay at its annual shareholders meeting.
Compare the Market makes double addition to car insurance panel
Compare the Market has announced the addition of Sabre-underwritten Insure2drive and Good Girl to its car insurance panel.
Bennetts revs-up marketing campaign with new 'biker babes' line-up
Motorcycle insurance specialist Bennetts has unveiled its 2012 'Babes Squad', which is "back by popular demand" and will be led by Hollyoaks actress Jorgie Porter.
Two non-execs join Miller partnership board
Broker Miller Insurance Services has appointed Clare Thompson, pictured, and Ian Buckley as independent non-executives on the partnership board.
Axa launches broker talent training initiative
Axa Commercial Lines has launched its new broker talent training initiative with the successful completion of its first week-long management course in Bordeaux.
Allianz Global Assistance turnover hits €2bn
Allianz Global Assistance has reported a global turnover of €2.1bn, suggesting that it is on target to reach €3bn by 2015.
Diversification key to favourable ratings for mutuals
The unique characteristics of mutual insurers mean that some are being encouraged towards diversification by regulators and rating agencies, according to a report by Willis Re.
Fitch affirms Coface's 'AA-' IFS rating
Credit insurer Coface's major group insurance entities have had their 'AA-' IFS rating and 'A+' IDR ratings affirmed by Fitch.
Argo recruits space risks specialist from AGCS
Argo International has appointed Antoine Bavandi as space risks underwriter for Argo Assurances, the group's Paris-based underwriting platform for speciality products including aviation and space.
Zurich's 'A+' IFS rating affirmed
Zurich Insurance Company's 'A+' insurer financial strength rating and 'A' long-term issuer default rating have been affirmed by Fitch, which cited the insurer's strong capital position and "resilience in the challenging operating environment".
RSA expects sub 95% COR for 2012 after Q1 results
RSA recorded a 5% increase in net written premiums to £2.2bn for the first quarter, prompting group CEO Simon Lee to predict a full year combined operating ratio below 95%.
RBS set to bolster PPI fund by £125m
Royal Bank of Scotland is to announce on Friday that it will set aside a further £125m to cover compensation for mis-sold payment protection insurance, according to Reuters.
Tysers continues corporate recruitment drive with double appointment
Tysers has this morning confirmed the appointments of Andy Lucia, pictured, and Lee Saunders to the UK corporate division's professional indemnity team.
Bank of Georgia swoops for country's third largest health insurer
The holding company of JSC Bank of Georgia announced today that JSC Insurance Company Aldagi BCI, a wholly-owned insurance subsidiary of the bank, has acquired Meta Limited, the holding company which owns 51% of Imedi L, the third largest insurance and…
Nepalese regulator wants zero depreciation motor cover
The Nepal Insurance Board wants motor insurers to introduce policies with zero depreciation cover, but critics fear the high premiums would put the product beyond the reach of most Nepalese.
Analysts respond to RSA results
RSA's 5% increase in net written premiums is almost entirely due to rate rises, analysts have said.
L&G GI premiums up 17% to £83m
Legal & General has reported a 17% increase in general insurance gross premiums to £83 for its Q1 2012 results, compared to £71m for the same period in 2011.
RSA boasts NWP up 5% thanks to emerging markets
RSA has reported premiums up 4% in the UK to £725m, as it signs a deal with OIM Underwriting worth £75m.
Miller hires North Asia reinsurance specialist
Miller has enhanced its North Asia reinsurance broking capabilities by appointing Gao Zu Biao who will be based in its Hong Kong office.
Quidco Compare adds home and travel
Cashback and voucher comparison site Quidco Compare is expanding into home and travel insurance.
Laspo Bill gains Royal Assent, but frustrations and issues remain unresolved
Following last week's parliamentary 'ping pong' of the Legal, Aid, Sentencing and Punishment of Offenders Bill, the controversial legislation is finally set for the statute book, having been granted Royal Assent on 1 May.
Market moves: Liberty and Garwyn lead the pack
Insurer Liberty Mutual and loss adjuster Garwyn were the main movers and shakers this week, with LMI officially opening its new office in Leeds and recruiting four new members of staff.
Zurich pledges broker commitment as 15% of staff cut in PL shake-up
Zurich has moved to reassure its brokers following the news that it will cut almost 15% of its UK workforce and transfer a big chunk of its personal lines business into its own broker, Endsleigh.