News
ABI's Evans praises government as one insurers can work with
Association of British Insurers director general Huw Evans has deemed the Conservative government elected today (8 May) as one the insurance industry can work with.
Civil justice issues in danger of being sidelined by EU referendum
An insurance law firm has warned of a "strong possibility" civil justice reforms will take a back seat under the newly elected Conservative government while it focuses on the proposed 2017 European Union referendum.
Trio of broking businesses rebranded by Brokerbility
Brokerbility will rebrand its three trading businesses as Brokerbility Insurance Brokers from 1 June in a bid to support strategic growth plans.
Insurance rates decrease for eighth consecutive quarter, states Marsh report
Global insurance rates decreased during the first quarter of 2015, according to the results of Marsh's latest market quarterly briefing.
Watson hails commercial action plan for improved COR
Ageas UK CEO Andy Watson says the 31.6 percentage point improvement in his firm's commercial combined ratio for the first three months of 2015 was the result of a sustained action plan of which the next phase is to grow the account.
Nepal earthquake to have minimal impact on global reinsurers
A.M Best believes that the recent earthquake in Nepal is not expected to have a major impact on the current reinsurance market, but local and regional players will feel some adverse effects.
Case managers guide to be published alongside rehab code this summer
Proposed changes instigated as part of a revised rehabilitation code will include a separate process for lower-value injuries and the introduction of an accompanying guide for case managers.
The insurance quiz of the week
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Ageas reports ‘profitable but challenging' Q1 figures
Ageas UK has reported a net profit of £12m for the first three months of 2015 compared to a loss of £4.5m in the same period of 2014.
Ageas COO Barry Smith to retire
Ageas Group chief operating officer Barry Smith is to retire as of 1 October 2015 and will be succeeded by AG Insurance CEO Antonio Cano.
ICA appoints Russell and Troup to its board
The Insurance Council of Australia has appointed David Russell, CEO of RAA Insurance and Helen Troup, managing director, Commonwealth Insurance to its board of directors.
Generali Asia secures option to buy 70% of Malaysia's MPIB
Italian giant Generali has completed the purchase of a 49% stake in Malaysia general insurer Multi-Purpose Insurance to enter its tenth Asian market.
Blanc to focus on 'straightforward' growth plan at Aston Scott
Aston Scott executive chairman Peter Blanc plans to make the business "the best insurance broker" he can by targeting a combination of acquisitions and organic growth over the next five years.
Seventeen Group eyes other deals after Thompson & Partners purchase
Seventeen Group managing director Paul Anscombe has outlined his appetite for further deals after confirming the firm's acquisition of specialist credit and marine broker Thompson & Partners.
Q&A with Aon on increased competition and trends in public sector insurance
The public sector space has been described as one lacking competition and choice when it comes to insurance options.
Markerstudy launches affinity 'super division'
Gibraltar-based personal lines insurer Ultimate Insurance Company co-founder Paul Hampshire will lead a new affinity “super division” launched by Markerstudy Group.
RSA boss Lewis hopeful for Irish division turnaround in 2016
RSA UK and Western Europe CEO Steve Lewis is confident the insurer's Irish business will be moving towards profitability in 2016, but has admitted there is still a lot "heavy lifting" to do in the division.
Peter Blanc becomes exec chair at Aston Scott following MBO
Aston Scott Group has completed a management buyout funded by private equity firm Bowmark Capital.
John Sims to leave AIG
John Sims, the current head of UK private client group at AIG, has decided to leave the business and return to running his insurance consultancy business.
Reserve releases and low cat losses aid 30% rise in Zurich UK GI profits
Zurich’s UK general insurance CEO Vibhu Sharma has described a 30% rise in business operating profit as “the obvious highlight” in his firm’s opening quarter results for 2015.
Esure posts first quarter GWP increase
Esure has reported an increase in gross written premiums for the first three months of 2015 in an interim management statement released today (7 May).
Markel reports 83% Q1 combined ratio
Markel Corporation saw a more than 10 percentage point improvement in its combined ratio for the first quarter of 2015 to 83% from 95% in Q1 2014.
Aviva's Wilson outlines stance on ‘Brexit' ahead of potential referendum
Aviva is keeping a close eye on the proposed European Union membership referendum that would take place under a future Conservative government, with group CEO Mark Wilson playing down the insurer's exposure to such a move.
Telematics performance bolsters RSA personal motor growth in Q1
RSA has attributed “strong performance” in its telematics offering as the driver of 14% growth within its UK personal motor business, which chalked up £57m of net written premiums in the first quarter of 2015 (Q1 2014: £50m).