News
Swiss Re deems year-to-date £2.1bn net income 'successful'
Swiss Re has reported net income of $3.3bn (£2.1bn) for the first nine months of 2014 with a third quarter net income of $1.2bn.
Allianz UK nine-month profit down £10m despite GWP improvement
Allianz has reported pre-tax profits down 9% at £117.2m in spite of gross written premiums increasing by £181m.
Equinox Global adds Amlin and The Channel Syndicate to panel
Lloyd’s coverholder Equinox Global has increased the number of carriers on its binder panel to nine after welcoming Amlin and The Channel Syndicate.
Q&A video: Crif Decision Solutions director Sara Costantini
Personal injury claims have been in the spotlight recently because they are one of the key areas to have been targeted by fraudsters.
Admiral Q3 turnover drops despite 10% increase in customer numbers
Admiral has seen group turnover decrease 3% to £513m in spite of a 10% increase in the insurer’s total number of customers, which reached 4.03m in Q3.
Panes takes on Asia CEO role at Crawford
Chris Panes has taken on the role of Asia CEO for loss adjuster Crawford after moving to Singapore at the beginning of the year.
IWDC14: Mapfre direct business 'on the right path' following DLG deal
Mapfre global direct insurance managing director Jose Luis Bernal has credited the acquisition of Direct Line Group’s German and Italian businesses with helping put his firm’s direct proposition “on the right path”.
Ex-Brightside placement boss Freer promises 'innovative' add-ons from new role
Christian Freer has pledged to bring add-ons of “real value” following his appointment as commercial director of Strategic Insurance Services.
RSA continuing UK motor withdrawal
RSA is continuing a drive to shrink its UK motor business, according to UK commercial lines managing director John Hancock, who told Post the insurer is constantly evaluating its pricing strategy.
Ferma calls for IBER renewal
The Federation of European Risk Management Associations has called for renewal of the Insurance Block Exemption Regulation for insurance and reinsurance pools.
71% of people say insurers use of social media unfair to check claims
Only 29% of insurance customers think it is fair for insurance companies to use social media posts to check the validity of claims, research from Consumer Intelligence shows.
IMD II heads for European Parliament negotiations
The second edition of the Insurance Mediation Directive is to head for the European Parliament for negotiations over adoption following approval from the European Council.
Experian and Confused partner on fraud detection offering
Experian is to work with aggregator Confused.com to offer insurers the ability to understand fraud risk at the point of quote, Post can reveal.
Markel sees income fall in Q3 but remains up over nine months
Markel International reported comprehensive income to shareholders of $36.5m for the third quarter of 2014, down from $144.4m (£22.8m) for the same period of 2013.
IWDC14: Commissions and Solvency II on Spanish regulator's agenda
Fees and commissions feature prominently on the Spanish insurance and pensions regulator’s agenda, despite a significant focus being placed on the transposition of Solvency II.
Munich Re hikes 2014 profit forecast beyond €3bn
Munich Re is confident it will now exceed a forecast full year profit of €3bn for 2014 following strong performance in Q3.
IWDC14: Acquisition boom predicted as insurers look to bolster digital strategies
Digital start-up companies, telematics providers and aggregators are being increasingly targeted for acquisition by insurers that are planning to establish a stronger foothold within the evolving digital environment.
Davies Group appoints new head of subsidence
Loss adjusting firm Davies Group has appointed Greville Marchant as associate director and head of Davies subsidence and surveying.
Pool Re members urged to back amended retrocession deal
An extraordinary general meeting has been convened for members of government-backed terrorism facility Pool Re, following news that HM Treasury plans to amend the terms of its retrocession agreement.
First Central joins Biba
Motor broker First Central has joined the British Insurance Brokers’ Association, the trade body has announced.
Beazley premiums remain flat, despite 1% rate reductions
Specialist insurer Beazley has maintained premium levels after the first nine months of the year, despite noting continued pressure of rates.
Zurich UK profits up 19% in first nine months
Zurich’s UK general insurance business posted a 19% increase in business operating profit to £136m for the first three quarters of 2014, compared with £114m for the same period in 2013. Gross written premiums rose 2% on the first three quarters of 2013…
RSA notes ‘weak’ underwriting performance as premiums fall 9%
RSA has noted “weak” overall underwriting performance in Q3, with UK loss ratios coming in at higher than expected levels.
Heap returns to Equitas as CEO
Jeremy Heap has been appointed CEO of Equitas which manages the run off of the general insurance arm of the Lloyd's Names.