News
Covéa raids NIG, Mitsui and Keychoice for underwriting trio
Covéa Insurance has made a trio of new appointments to its commercial lines underwriting team.
Ex-Zurich CFO found to be 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.
Hiscox bolsters GWP by 10.5% in the UK
Hiscox’s retail business in the UK increased gross written premiums by 10.5% to £312.8m (2012: £283m) in the opening nine months of the year.
Markel unveils biomedical and life sciences liability policy
Markel UK has launched a liability product aimed at the biomedical and life sciences sector.
Further uncertainty for Balva policyholders as 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The company handling claims for beleaguered Latvian insurer Balva has withdrawn its services, creating more uncertainty for policyholders of the Riga-based firm.
Simply Health axes IT and customer services directors
Simply Health has made two of its directors redundant in a restructure designed to show more customer focus, Post can exclusively reveal.
Cobalt Underwriting CEO champions London's Islamic insurance appeal
The chief executive of Shariah-compliant start-up Cobalt Underwriting has marked the company writing its first risk by reminding Islamic business leaders that insurance capacity that meets their needs is available in London.
XL parts with claims head Lambourne
XL’s international P&C claims head Graham Lambourne has departed the insurer.
Energy laws may drive fake property claims says Crawford
Adjusting giant Crawford has warned that new rules on energy efficiency may drive landlords of vacant properties to make false property damage claims.
DLG hits back at earnings criticism
Direct Line Group's chief financial officer John Reizenstein has hit back at criticisms around the sustainability of the insurer's earnings.
Markel recruits former EY UK audit head for non-exec role
Markel has appointed a former EY audit partner as a non-executive director, Post can exclusively reveal.
DAC Beachcroft launches Scottish fraud team
DAC Beachcroft has extended its claims validation team services into Scotland, establishing a specialist fraud team at its Glasgow office.
Additional funds at the ready for consolidator ahead of London market splurge
The founder of London market consolidation business Global Risk Partners has set his sights on tying up a string of deals for businesses with revenues between £1m and £50m in the coming months.
Grandmother facing jail after contempt conviction over injury claim
A grandmother could be facing a jail sentence after being found guilty of contempt of court for exaggerating the extent of a personal injury claim.
Data concerns prompt IUA professional lines questionnaire
The International Underwriting Association has published a new questionnaire for the submission of professional lines business.
DLG in ‘advanced talks’ to sell part of its telematics business
Direct Line is said to be in advanced talks to sell its Tracker telematics business to a private equity house, according to the Financial Times.
Direct Line posts improved COR of 95.4%
Direct Line has achieved a combined operating ratio of 95.4% for the first nine months of 2013, a 4.3% improvement from the 99.7% posted for the same period in 2012.
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 today.
XL COR improves to 92.2%
XL’s property and casualty combined operating ratio has improved to 92.2% in the first nine months of 2013, from the 92.7% reported for the same period in 2012.
RSA, Aviva and Lloyds subsidiary in frame for storm losses says Moody’s
Losses from the St. Jude’s Day storm are expected to suppress insurer’s 2013 profitability, particularly against the backdrop of declining premium rates in property insurance in recent quarters.
UK General hires ex-BMW Financial Services manager Binns
UK General has appointed former BMW Financial Services manager Andrew Binns to the role of schemes director for motor ancillary products.
Towergate to re-focus on M&A following sale of 'non-core' underwriting business
Towergate chief executive Mark Hodges has insisted that acquisitions remain central to his firm’s growth strategy, despite the £9.25m sale of Towergate Underwriting’s commercial property business to Global Risk Partners.
Aviva launches cycling safety campaign
Aviva is seeking to reduce the number of incidents involving large goods vehicles and cyclists by launching a campaign.
Marsh: EU cyber directive must be on risk agenda
Insurers must consider the implications of the European Union's cyber security directive, Marsh has warned.