News
Eric-insured flood victim denied payout
A Wiltshire flood victim has been denied an insurance payout because the policy was underwritten by unlicensed Icelandic insurer European Risk Insurance Company.
Broker Network extends Zurich partnership
Broker Network has renewed its partnership deal with Zurich – a relationship that has lasted more than 15 years.
Equity Syndicate reports 12.6% capacity loss for 2011
Equity Syndicate 218 has closed its 2011 account year with a 12.6% loss of capacity.
Allianz agrees asset deal with Italian insurer Unipol Sai
Allianz is to buy part of Italian insurer Unipol Sai Assicurazioni’s property and casualty business in a deal worth up to €440m (£367m).
Utley buys ‘Beckingham Palace’ for £11.5m
Hastings Direct chairman Neil Utley has bought the Hertfordshire home of David and Victoria Beckham for £11.5m.
Innovation Group completes LAS buy
Claims management business The Innovation Group has completed the purchase of LAS.
Hong Kong's premiums rose 14% in 2013
Total gross premiums of the Hong Kong insurance industry in 2013 were HK$290.7bn ($37.4bn), an increase of 13.9% over 2012 according to provisional statistics from the Office of the Commissioner of Insurance.
NFU Mutual doubles underwriting profits for 2013
NFU Mutual has reported underwriting profits have more than doubled for 2013, with returns climbing to £120m.
Willis' Hearn appointed Liiba chair
Willis Group’s deputy chief executive officer Steve Hearn has been elected chairman of the London & International Insurance Brokers’ Association.
ABI agrees expanded £11.7m Ifed investment
The Association of British Insurers has agreed to invest £11.7m in the City of London Police’s Insurance Fraud Enforcement Department over three years.
Allianz to pay Argos-parent £11m for warranty products
Allianz is to pay Argos-owner Home Retail Group £11m under a profit share agreement relating to the run-off of warranty insurance policies.
Video: Octo Telematics: The future of the motor insurance market
Telematics is one of the latest insurance buzzwords. Its use in vehicles is being touted as one of the keys to the future of the motor manufacturing market and, therefore, the future of the insurance motor market.
CFC launches cover for not-for-profit sector
Specialist underwriting agency CFC has launched an insurance solution for the not for profit sector.
Elliptic to offer insurance payout in Bitcoins
Bitcoin storage provider Elliptic will offer customers the option to be compensated for loss of stored funds in Bitcoins from today.
Allianz's Mitchell eyes fast China growth
Mark Mitchell, CEO Hong Kong & Greater China, Allianz Global Corporate & Specialty has told Post the international insurer is gaining momentum in China.
Ping An's profit climbs 40%
Chinese insurance and banking group Ping An's profits climbed 40% last year.
Foil warns contract law reforms lack detail
The Forum of Insurance Lawyers has hit out at planned reforms of law governing contracts between policyholders and insurers.
Swinton Commercial acquires Cleethorpes-based consultant
Swinton Commercial has purchased Cleethorpes-based CH Turner Insurance Consultants.
KPMG makes senior insurance hires from McKinsey & EY
KPMG has appointed Navdeep Arora and Justin Balcombe to its insurance advisory practice.
‘No bottom in sight’ on motor rates
Motor insurance rates are set to continue to tumble despite forecasts that the market may soon turn, according to a report from SNL Financial.
Navigator & General launch on-line quote and buy facility
Zurich-owned boat insurer Navigators and General have launched an on-line quote and buy facility for small craft and sailing dinghies.
Miller recruits former Willis energy specialist
Miller is seeking to expand its downstream energy business with the appointment of a former Faber Global broker.
Capita boosts business development with director appointment
Capital Insurance Services has recruited former R&Q business development manager Danny Maleary to strengthen business development.
Seel calls for industry donations to Air Ambulances
Thornside founder David Seel is calling on insurers that work with claims arising from human emergencies to donate £1 to the Air Ambulance service for every policy they sell.