News
Insurance CEOs optimistic about revenue growth
The majority of global insurance chiefs believe they will grow their businesses over the next three years, research from PwC has found.
Norton Rose Fulbright appoints McDaid as partner in Hong Kong
Law firm Norton Rose Fulbright has announced the appointment of Declan McDaid as a partner in the Hong Kong office. McDaid joined from Hong Kong firm Deacons, where he was a partner in the insurance practice.
SSP won eight clients in Australasia last year
Insurance technology house SSP signed up eight clients in New Zealand and Australia last year and launched its telematics service.
Munich Re's reinsurance division operating profits down 19%
In 2013, according to Munich Re's preliminary results, operating profits at its reinsurance arm reduced from €4.3bn in 2012 to €3.5bn last year (a reduction from €3.1bn to €2.8bn in its consolidated result).
HCC hires Calderbank for PI role
HCC International has appointed Simon Calderbank to its London professional indemnity division to focus on information technology and communications risks.
RSA stock climbs 3% after Hester appointment
RSA’s share price has spiked in late trading after the insurer announced it had recruited former RBS chief executive Stephen Hester.
Former RBS boss Hester appointed RSA Group CEO
RSA has named Stephen Hester as group chief executive and a director of the company, filling the vacancy left following Simon Lee’s exit.
Police Mutual expands with Forces Financial deal
A mutual insurer supporting 200 000 police officers and their families is to expand with the acquisition of a provider of financial products to the military and police.
GSII capital requirements must strike right balance, says Insurance Europe
Basic capital requirements devised by the International Association of Insurance Supervisor for global systemically important insurers need to strike a balance between risk-sensitivity and complexity, Insurance Europe has said.
Axa hits back at 'ludicrous' motor profit allegations
Axa has challenged Thompsons Solicitors to provide evidence of wrongdoing following allegations the insurer was failing to meet an International Financial Reporting Standards requirement in relation to revealing how much profit it generates.
Carole Nash prepares to roll out multi-car classic policy
Carole Nash is extending its cherished cars portfolio with the launch of a multi-car policy for classic vehicles.
Biba renews travel deal with Tokio Marine
The British Insurance Brokers' Association has renewed its holiday travel scheme with Tokio Marine Europe Insurance - first launched in 2007 - following positive member feedback.
Gallagher recruits RSA IT boss for new CIO role
Arthur J Gallagher has swooped for RSA’s UK and Western Europe IT and change leader Giles Baxter, to serve as its new international chief information officer.
Insurers taking a dim view of 'fronting'
Parents have been warned insurers may refuse to pay out on claims and launch legal action if they suspect mums and dads are pretending to be the main driver of a vehicle used predominantly by their children.
Direct Group targets growth following business split and name change
Direct Group has split its business into two units comprising of claims and distribution services, reshuffled its executive team and changed the name of its holding company, amid plans to grow the business by 20% in 2014.
Ex-First Assist boss Ellen to become Barbon chairman
Barbon Insurance Group has appointed Simon Ellen as its new chairman with effect from 1 February.
County Group unveils £50m broking target
The County Group has unveiled a broking target of £50m over the next four years following the release of its financial results for the year ending September 2013.
Garwyn boasts 69% portal retention rate
Davies Group-owned Garwyn has reported a retention rate for liability claims with the Ministry of Justice portal 20% above the industry average.
Prudential's Nuvoloni appointed DIMA chairman
Dublin International Insurance & Management Association has appointed Marco Nuvoloni as chairman of the association, replacing the outgoing Stephen Devine.
S&P upgrades QBE Syndicate 2999 to ‘5’ LSE rating
Ratings agency Standard and Poor’s has upgraded its Lloyd’s Syndicate Assessment rating for QBE Syndicate 2999 to “5/Stable”.
Meso sufferers could get 100% compensation says Labour peer
Compensation payments under the new Mesothelioma Act will increase over time to give victims 100% of what they are due, Lord McKenzie of Luton has predicted.
Lloyd’s launches volume claims service
Lloyd’s has unveiled a new shared volume claims service to allow the market to better handle non-complex claims.
Vienna Insurance acquires Moldovan insurer
Vienna Insurance Group has inked a deal to acquire a 94% stake of Moldovan insurer Donaris Group.
FCA launches compensation scheme for CPP mis-selling
The conduct regulator is predicting a redress bill of up to £1.3bn as it announced today a compensation scheme for consumers who were mis-sold card or identity protection products would start in mid-February.