News
Wunelli hires ex-Axa personal lines distribution boss Cavanagh as VP
Former Axa personal lines intermediary distribution director Selim Cavanagh has been appointed to the role of vice president of telematics firm Wunelli by parent company Lexis Nexis.
Claims environment blamed as Esure motor profits tumble by 80% in H1
Esure’s underlying profit before tax plummeted by 21.3% over the course of the past year, with the figure for the first half of 2015 standing at £46.5m (H1 2014: £59.1m).
Allianz cites competitive market conditions as first half profits fall 12%
Allianz's UK pre-tax profits fell 12% in the first half of 2015 to £56.5m compared to £64.2m in the same period last year.
Typhoon Soudelor leaves widespread damage in China and Taiwan
Powerful storm Typhoon Soudelor has killed at least 14 people in Taiwan and 12 in eastern China; others are missing and over 100 were injured in Taiwan.
Bauer to leave Allianz
Manuel Bauer, head of insurance growth markets, Allianz is leaving at the end of August.
RSA loses telematics director Skerrett to Trak Global
RSA telematics director Bob Skerrett has left the insurer to take on the role of managing director of Trak Global’s insurance division.
HMRC to allow estimation of new IPT levels to ease back-office stress
Insurers are to be given a temporary relaxation in how they file their insurance premium tax returns to HM Revenue and Customs after Chancellor of the Exchequer George Osborne increased IPT by 56% in the July Budget.
'Cracks appearing' in DLG reserving policy, Macquarie analysts claim
Direct Line Group posted a £100m rise in operating profit in the first six months of 2015 but analysts at investment bank Macquarie have suggested that “cracks are appearing” in the insurer's reserving policy.
LV to publish prior year premiums on renewal documents
LV is to join Axa in publishing prior year motor premium prices on renewal documents.
Quiz of the week - 7 August 2015
It’s that time of the week again… Quiz Time!
Hood Group partners with Stoke City FC
Hood Group has entered into a two year partnership deal with Stoke City Football Club where it will promote its affinity partner Asda Home Insurance.
Jelf swoops for North London broker Libra
Jelf has grown its southern footprint by acquiring Watford-based broker Libra Insurance Services.
Allianz Group estimates 2015 operating profit at upper target range
Operating profit in Allianz Group's property and casualty division rose 29.7% to €1.35bn (£952m) in the second quarter of 2015 as the company confirmed its operating profit outlook for the full year would reach €10.8bn.
Lewis focused on correcting 113.6% personal motor COR
RSA UK and Western Europe CEO Steve Lewis is "clearly focused" on improving the performance of the company's personal lines motor division after it reported a significantly deteriorated combined operating ratio for the first six months of 2015.
Hastings adds Peter Blanc to its board of directors
Aston Scott executive chairman Peter Blanc has been appointed to the board of directors at Hastings Insurance Group along with legal private practice stalwart Selina Sagayam.
Zurich UK GI boss Sharma notes 'benefits' of RSA tie-up
Zurich’s UK general insurance boss Vibhu Sharma believes "synergies" could be achieved from a takeover of RSA but said the insurer would focus on making improvements in its own business if a deal could not be reached.
One Broker buys Essex-based independent firm
One Broker has acquired the entire share capital of Barking-based independent broker P J Weller & Son.
Tulloch points to internal loan returns as driver of operating profit drop
Aviva UK & Ireland general insurance CEO Maurice Tulloch has cited returns on the insurer's internal loan as a key factor in the division's drop in operating profit reported within the company's first half results today (6 August).
Quindell shares plummet to 79p in first day of trading since June
Quindell’s share price fell by a third to 79p this morning as the beleaguered outsourcing provider resumed trading on the London Stock Exchange’s AIM index.
Claims Management Regulator issues first fine to nuisance CMC
A claims management company that pestered people with nuisance calls about noise induced hearing loss claims has become the first firm to be fined under new regulatory powers.
Arista and Arag partnership extends over a decade
Arista Insurance has extended its partnership with legal expenses provider Arag for a further three years.
Zurich UK GI faces ‘a struggle ahead’ as H1 profit falls by 50%
Business operating profit for Zurich’s UK general insurance business halved to £50m in the first six months of 2015 (H1 2014: £100m) as the insurer suffered a higher than average number of large losses, only partially offset by benign weather.
Markel reports 90% H1 combined ratio
Markel International has reported a comprehensive loss to shareholders of $132.9m (£85.1m) in the second quarter of 2015 compared to a loss of $250.6m in Q2 2014.
Aviva signs seven-year distribution agreement with TSB
Aviva has signed an exclusive seven-year distribution agreement with TSB covering the distribution of Aviva’s core general insurance products including home, travel, motor, pet, and commercial insurance through TSB’s branch network, online and via…