News
New South Wales' storms to cost IAG A$300m
Insurance Australia Group is counting the cost of two damaging storms in the same week.
Zhang to exit Markel after Shanghai office opening
Steven Zhang, chief representative of Markel's Beijing office, will be leaving the company after helping establish the Shanghai office.
Philippines' GI profits surged in 2014 from low base
The Philippines' 65 general insurance companies profits in 2014 climbed to 2.4bn pesos (£35.4m) up 192% from 822m pesos of profit in 2013.
Innovation Broking will keep a low profile says Pearson
Former Oamps UK CEO Howard Pearson intends to keep a low profile following the launch of a broker with former Giles managing director Paul Dickson.
Broker Network bosses outline 2015 strategy at London conference
Broker Network's London members today (28 April) got a flavour of the business' 2015 work plan, which includes expanding the Countrywide brand to commercial lines, supporting members with succession planning and overhauling its schemes offering.
Aviva and Covéa join fraud task force working party
The insurance fraud task force has set up a working party to examine where issues arise in the personal injury claims process.
Quotas not seen as the cure for lack of London market diversity
London market professionals have acknowledged more needs to be done to overcome its historic lack of inclusivity, but have stopped short of backing a quota system as a means to increase diversity in the marketplace.
Industry dismissive of Apil plans for mandatory PL cover
Industry leaders have distanced themselves from calls by the Association of Personal Injury Lawyers to introduce compulsory public liability insurance by suggesting it may damage the sector’s reputation among small businesses.
Insurers told to change ways or lose loss adjusting capacity
Insurers have been warned of the potential consumer detriment of in-housing claims by loss adjusting bosses who have backed the stance taken by Chartered Institute of Loss Adjusters' deputy president Benedict Burke over the industry’s ability to provide…
Parabis names Powell as Oliver's eventual successor as CEO
Parabis Group has appointed chief operating officer Jason Powell to the role of CEO amid a wider boardroom reshuffle at the legal services group.
CII unveils best practice to aid information sharing and tackle fraud
A data sharing initiative designed to speed up the process of exchanging claims information between insurers has been unveiled as part of the industry’s ongoing fight against fraud.
Dual moves founder Heiner Eickhoff to chairman role
Dual, the underwriting arm of the Hyperion Insurance Group, has appointed managing director Heiner Eickhoff as chairman.
One third of brokers writing majority of business through schemes, survey finds
The number of brokers writing most of their gross written premium through schemes business has increased by 16% on 2014 to more than a third (37%) according to UK General’s fourth annual schemes survey.
Lansdown acquisition bolsters SEIB's 2014 pre-tax profit
SEIB’s acquisition of Lansdown Insurance Brokers last April contributed £638,000 towards the firm’s full year increase in profits before tax profits of £3.03m in 2014 (FY 2013: £2.46m).
Axa claims tool launched to broker market
A digital claims tracking tool is now available to the entire broker market following the completion of pilot projects with Bluefin and Brokerbility.
Polish ECJ referral reignites possible UK liability to EU VAT on outsourcing
A case referred by Poland to the European Court of Justice is expected to reignite the UK insurance market’s potential liability to EU VAT on its back-office administration, which could cost the industry millions.
Now Health acquires Best Doctors to increase global footprint
Now Health International's private equity investor the Primary Group has acquired Bermuda-based Best Doctors Insurance.
Insurers and claimant solicitors partner on fraud initiative
Insurers have teamed up with claimant solicitors to offer a service aimed at preventing fraudulent claims entering the compensation process.
Product innovation required as global firms face uninsurable risks
Industry experts have highlighted product innovation as a means of addressing the findings of an Aon study that showed six of the top 10 risks impacting global businesses are uninsurable.
Moody's puts Willis' debt rating on negative watch following Gras Savoye deal
Moody's Investors Service has revised the outlook on the BAA3 senior unsecured debt rating of Willis Group and its subsidiaries to negative from stable.
Collinson acquires Specialty Assist
Collinson Group has acquired corporate assistance specialist Specialty Assist, subject to regulatory approval.
Trade union to protest at Ageas HQ over call centre closure
The Communication Workers' Union will hold a protest at Ageas' Bournemouth headquarters this afternoon (27 April) over plans to close a call centre in Belfast.
GI firms join call for Tories to 'finish what they have started'
Insurance industry bosses are listed among more than 5000 SME signatories backing the Conservative party ahead of next week’s general election.
RSA investor angered over Hester pay package
RSA investor Cevian Capital has indicated it may vote against CEO Stephen Hester's remuneration package, according to reports.