News
UK insurance industry primed to target takaful opportunities
Political proposals to transform Britain into a leading Islamic finance hub would open up a lucrative untapped market to Lloyd’s players and beyond, according to industry analysts.
Ex-Kwik Fit MD Lynch joins Glasgow-based broker
Laurie Ross Insurance has appointed former Kwik Fit Financial Services boss June Lynch as managing director.
Burke predicting financial progress amid speciality focus
Jardine Lloyd Thompson chief executive Dominic Burke is confident an increased focus on specialty business and a growing global reach will enable the broker to achieve year on year financial progress.
CGSC 'disappointed' by Moody's downgrade
Wholesale broker Cooper Gay Swett & Crawford has criticised the decision to downgrade in its corporate family credit rating from B2 to B3.
RSA anticipates sub-10% ROE as storm losses hit home
Storm losses have been cited as a major contributing factor behind RSA adjusting its financial estimates, with group chief executive Simon Lee anticipating return on equity for the year to be below 10%.
Skills shortages continue to plague industry
Skills shortages in general insurance businesses have dropped 14 percentage points to 59% in the past year, a Chartered Insurance Institute survey has found.
Aviva personal lines CUO Robinson returning to RSA
Aviva's personal lines chief underwriting officer Hayley Robinson is to return to RSA from next week, Post understands.
Asia-Pacific catastrophe limit grows
Total Asia-Pacific catastrophe limit purchased in 2013 increased for the tenth year in a row, but did not keep pace with strong GDP growth in the region, according to a new report from Guy Carpenter.
AIG opens Hangzhou office
AIG China, the largest foreign property & casualty insurer in China, has opened a branch in Hangzhou, the capital city of Zhejiang province.
AA granted ABS licence
The AA expects to have its own legal services business up and running by the end of the year after being granted an alternative business structure licence by the Solicitors’ Regulation Authority.
Groupama and Ageas complete part VII transfer
Groupama has transferred 1.5 million policies and net assets of £160m to Ageas via a Part VII insurance business transfer.
Windstorm could result in underwriting losses in Germany, predicts AM Best
Regionally focused German insurers may incur underwriting losses for the year from an accumulation of natural catastrophes, a report from AM Best has found.
Windstorm unlikely to impact UK insurers' performances, predicts AM Best
UK non-life insurers remain on course to post strong overall performances in 2013, despite last week’s windstorm, according to a report from AM Best.
Dual International appoints Sorensen
Dual International has announced today that it is appointing industry veteran Larry Sorensen as chairman of its North American underwriting agency operations.
EY: Household premiums likely to rise in 2014
Household insurance premiums are under pressure and likely to rise in 2014, according to EY.
Thomas Carroll unveils new group board director
Welsh insurance broker Thomas Carroll Group has promoted Julie Waters to the role of group board director.
Hudson leaving Aviva for 'completely different' insurance role
Aviva’s broker performance director for intermediary and partnerships Sam Hudson is to depart the insurer next year.
Beazley launches small transactions cover
Beazley has launched a type of insurance coverage aimed at the smaller deals which are typically not underwritten by most insurers.
Europe-wide Windstorm Christian losses could hit €1.3bn
Losses from a storm hitting Northern Central Europe could top €1.3bn according to latest estimates from Willis Re.
Failure to reach Solvency II equivalence deal could harm UK
Failure to adequately resolve the issue of equivalence under Solvency II could harm British interests, according to speakers at the Association of British Insurers’ solvency II conference.
Uncertainty for Balva policyholders after claims handler withdraws
The company handling claims for beleaguered Latvian insurer Balva has withdrawn its services, creating more uncertainty for policyholders of the Riga-based firm.
Ex-Zurich CFO under no 'undue pressure' prior to death
Former Zurich chief financial officer Pierre Wauthier was not subjected to any undue or inappropriate pressure in the period leading up to him taking his own life, according to findings of two independent investigations.
Two hires for Ace’s A&H team
Ace Group has strengthened its UK and Ireland Accident and Health team with two appointments.
McMillan returns to Canopius
Canopius Group has appointed Neil McMillan as class underwriter to its North American Facilities team, focusing on property, motor and liability lines.