News
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.
Higos swoops for Bluefin team
Higos Insurance Services has bolstered its commercial insurance team with several new additions from rival Bluefin.
European appetite for run-off deals set to grow, survey finds
France and Germany have been tipped as the most likely European countries to see run-off deals completed, according to insurance industry respondents to a Clyde & Co survey.
Flood losses not expected to arrest premium decline, claims Moody's
Widespread flooding over the Christmas period is unlikely to reverse the decline in property insurance premiums, despite the impact of the adverse weather conditions negatively affecting insurer’s earnings, according to Moody’s.
Ukrainian market shows signs of strong recovery
Profitability in the Ukrainian non-life insurance sector has recovered strongly in recent years but standards of regulation and financial reporting continue to act as a drag on ratings, according to Fitch’s market update.
MICC boosts membership to 16 with first female representative
The MENA Insurance CEO Club has inducted its first female member in the form of Lamia Ben Mahmoud, chair and general manager of Société Tunisienne de Réassurance.
LV CEO predicts 2014 motor recovery following £40m GWP drop
LV has recorded a £40m drop in general insurance gross written premium for the 12 months ended 31 December 2013 while total in-force policies grew by 300 000.
Axa targets home, motor and commercial vehicle for data enhancement
Axa is collaborating with Lexis Nexis to bring more data and analytics to its home, motor and commercial vehicle books.
Quindell set to acquire remainder of Ingenie
Outsourcing provider Quindell has agreed a deal to acquire the remaining shares in telematics firm Ingenie.
Windstorm Dirk losses estimated at €275m
Storms which rampaged across the UK and France from 23 December to 25 December are to cost insurers €275m, according to data from Perils.
Sir John Major and The Apprentice’s Brady to deliver Biba keynotes
The British Insurance Brokers' Association has booked Sir John Major, Karren Brady, John Prescott, David Davis and Ming Campbell as the keynote speakers for its annual conference.
CFC swoops for HCC’s Woodward to fill director role
Underwriting agency CFC has appointed Nick Woodward to the new role of claims and products director.
Ironshore hires Lexington's Horton for US liability risks role
Ironshore International has appointed Chris Horton as director of underwriting for US liability risks, including specialty casualty, Iron Pro, Iron Health and environmental business lines.
Difficult decisions ahead on flood defence funding, admits EA chair
The chairman of the Environment Agency has conceded there is “no bottomless purse” for flood defence spending and that decisions must be made on whether to prioritise town or country.
Biba recruits Reid and Blanc to lead large broker board
The British Insurance Brokers’ Association has named Bluefin executive chairman Stuart Reid and Oval chief executive Peter Blanc as chairman and deputy chairman, of its larger broker advisory board, respectively, Post can reveal.
Brit reported to be eyeing £900m stock market return
Brit Insurance has been tipped with a stock market return in a £900m float, three years after it was made private following its acquisition by private equity consortium Achilles.
Disability broker Fish lands relationship manager
Fish Insurance has appointed Becky Rourke as its relationship manager responsible for liaison with local authorities and disability support groups.
Insurers harness power of online reviews
Insurers are beginning to recognise the value of online customer reviews in persuading consumers to purchase products, according to new research by Autoglass.
Aon boasts of 'strong finish' to 2013 with profits up 12%
Broking giant Aon saw its 2013 net income climb 12%, in spite of limited movement in broker revenues.
Colosso replaces Coles as Howden CEO amid expansion plans
Howden Broking Group has appointed Adrian Colosso to the role of chief executive as part of a management reshuffle designed to build on recent expansion within the Hyperion-owned broking group.
Law firm demands Axa and Aviva declare motor profits
Thompsons Solicitors is demanding Axa and Aviva reveal their UK motor insurance sales trading figures saying the insurers are in breach of International Financial Reporting Standards until they do so.