News
Coalition of insurance groups urges government to scrap planned IPT rise
A coalition of trade bodies and charity groups has urged the government to scrap any planned rise to the insurance premium tax ahead of tomorrow’s budget.
Direct Line profit falls 30% in wake of Ogden rate cut
Direct Line has seen full year pre-tax profits fall by 30% owing to a hit from the discount rate reduction.
Hong Kong government advisory report laments reinsurance failings
A Hong Kong government advisory group is recommending changes in captive, marine and reinsurance regulations to help turnaround the SAR's Asia hub status.
Sydney hailstorm brings IAG to within A$126m of nat cat allowance
Sydney's dramatic hailstorm on 18 February has cost Australian insurer IAG at least A$160m (£99m) in claims so far.
Julie Page replaces Tunnicliffe as CEO of Aon's broking arm
Julie Page has been appointed CEO of Aon Risk Solutions in the UK, replacing Andrew Tunnicliffe.
Sara Mitchell appointed as head of Chubb's corporate division in UK and Ireland
Chubb has appointed Sara Mitchell as head of corporate division in UK and Ireland.
Aston Scott planning acquisitions to turn Bell & Co into 'Midlands hub'
Aston Scott plans to turn newly acquired Bell & Co into a 'Midlands hub' through further acquisitions.
County Group acquires £4.5m GWP regional broker
The County Group has acquired Arthur Marsh, a Birmingham-based broker with £4.5m gross written premium.
Aston Scott acquires Derby-based broker
Aston Scott has acquired Derby-based chartered insurance broker Bell & Co.
Compare the Market owner sees revenue up by 14%
The owner of Compare the Market has seen revenue grow by 14% in the first half of its financial year.
Axis to take £41m Ogden rate hit
Specialty insurer and reinsurer Axis Capital will take a £41m hit from the reduction in the Ogden discount rate.
Dale Underwriting Partners appoints COO
Dale Underwriting Partners has appointed Mark Channell as chief operations officer.
P&I Clubs face pricing pressure: AM Best
Underwriters in the marine protection and indemnity sector must exercise underwriting discipline as their ship-owning members continue to face economic pressure, AM Best has warned.
Phone app allows policyholders to log a cyber claim
A phone app that enables policyholders to easily claim for a cyber breach has been launched by CFC Underwriting.
Motorists fear further IPT rises this week
Four out of 10 motorists believe the Chancellor will raise the insurance premium tax still further in his Spring Budget.
Solvency II safeguards mean no need for EU rule change
The safeguards provided by Solvency II mean that a new EU framework on recovery and resolution for insurers is not required, according to Insurance Europe.
LMG adds marine businesses to PPL platform
The London Market Group’s electronic PPL platform has introduced marine classes for trading.
Post People: 06 - 10 March
People moves from the insurance industry.
PICC's Yincheng resigns
Wang Yincheng, executive director, vice chairman and president of Chinese insurer PICC, has resigned according to the firm.
Berkshire Hathaway hires for Asia expansion
Berkshire Hathaway Specialty has hired two senior insurance professionals as the insurer introduces personal accident to Hong Kong and Singapore.
Allianz's Asia P&C profits fell 22% in 2016
Allianz saw P&C profits fall 22% in Asia last year to €58m (£49.5m) from €74m in 2015.
Fosun helps The Floow raise £13m
UK telematics technology provider The Floow has raised £13m for equity investment from a variety of international funds.
Aviva partners with insurtech start-up Hibob
Aviva has signed a deal with insurtech start-up Hibob to better enable SME clients to set up workplace pension schemes.
SSP invests in ‘multimillion’ upgrade to troubled Pure platform
SSP will release a “multimillion” upgrade to its troubled Pure Broking platform this summer.