News
DAS promotes Harris to chief claims officer
DAS has promoted Ageas’ former head of operations for motor claims to a new role as chief claims officer.
African and Middle East terrorism on 12 month surge
Terrorist and insurgent attacks across Africa and the Middle East have rapidly increased in number over the last twelve months according to figures from IHS Jane’s terrorism and insurgency centre.
AIG axing 3% of global workforce
US insurance giant AIG is planning to cut about 3% of its global workforce, primarily in its property casualty unit, according to reports, in spite of full year profits of almost triple last year’s equivalent figures.
300 000 car accidents staged since 2009
An estimated 300 000 car accidents were staged in the past five years equating to over 1000 every week, according to research by insurer LV.
AIA agrees five year shirt sponsorship deal with Tottenham Hotspur
Hong Kong-based life and health insurer AIA is sponsoring Tottenham Hotspur's shirts in all competitions until the end of the 2018-2019 season from the beginning of the 2014-15 season.
2014 'a tipping point' says ABI boss Evans
Huw Evans, deputy director general of the Association of British Insurers, has warned this year will likely be critical to the future of the motor insurance industry.
Axa praises Canadian police after rare artefact is recovered
Axa Art has praised the efforts of its loss adjuster and police authorities in Canada following the recovery rare and valuable Persian Achaemenid bas-relief panel.
Lewis attributes Zurich's soaring profit to improved underwriting
Improved underwriting was the key factor in Zurich’s UK general insurance business recording its significant 53% profit jump, according to chief executive Steve Lewis.
Qatar Insurance Company buys Antares
Qatar Insurance Company is to enter the London market following the acquisition of the entire share capital of specialist insurer and reinsurer Antares.
Gumtree broker handed suspended jail sentence
A ghost broker who advertised worthless car insurance on Gumtree has been handed an eight month custodial sentence, suspended for two years.
Two men arrested amid investigation into data leak by Aviva staff
The Insurance Fraud Enforcement Department has confirmed two men were arrested and bailed as part of an investigation into two separate reports of theft of information at Aviva.
Air frost days cost insurance sector over £1m
The insurance sector is hit by approximately 1000 additional private motor claims and pays out over £1.3m on repairs every time the UK is hit by air frost, according to analysis commissioned by Audatex.
'Value over volume' focus takes its toll on GWP at Lloyds Bank
Lloyds Banking Group’s general insurance business saw its combined operating ratio increase by five percentage points to 77% last year, while gross written premiums reduced by 8% to £1.3bn (2012: £1.4bn).
HSB Engineering launches energy efficiency product
Engineering and construction insurer HSB Engineering Insurance has launched an energy efficiency insurance product.
Axa introduces commission flexibility to Simple landlords policy
Axa has introduced commission flexibility to the landlords product from its Simple range allowing brokers to control their remuneration on a case-by-case basis.
Zurich UKGI arm records 53% profit increase for 2013
Zurich’s UK general insurance arm recorded a 53% increase in its business operating profit for 2013 to £144m from £94m in 2012.
Ace launches casualty practice in South Africa
Ace Group has launched a new casualty insurance practice in South Africa and appointed Lee Stacey as head of casualty for the region.
Ace starts construction practice for Asia-Pacific
Ace has created a construction industry practice group in the Asia-Pacific region.
Axa Assistance looks internally for double appointment
Axa Assistance has promoted its Ireland general manager Eoin Lyons to the role of UK chief operating officer.
FCA slaps broker Homeserve with £30.6m fine
The Financial Conduct Authority has issued its largest ever retail fine of £30.6m to broker Homeserve following “serious, systemic and long running failings” across key aspects of its business.
Lancashire CEO praises ‘strong close’ to 2013 despite profit decline
Lancashire has recorded a 6.2% decrease in gross written premium for the year ended 31 December 2013 writing $679.7m (£408m) compared with $724.3m the year before.
ABI confident insurers will get behind its personal injury code of conduct
Code aims to combat perception of insurers exploiting PI claims.
Zurich sees operating profit up 15% and premiums fall 4%
Zurich's global operating profit climbed 15% in 2013 helped by a significant improvement in its general insurance combined operating ratio.
KPMG warns of long-term flood impact
The economic impact of the recent flooding could be felt for at least two to three years, KPMG has warned.