News
Mapfre grows pre-tax H1 profits 5%
Spanish insurance group Mapfre has seen its pre-tax profits climb in spite of a contraction in its home market.
RAC launches telematics product with Risk Technology
Telematics provider Risk Technology and motoring organisation RAC are teaming up to launch a product to help drivers in the event of a breakdown.
Northdoor enters cyber-services partnership with 24 Lockdown
Insurance services provider Northdoor has formed an exclusive partnership with 24 Lockdown, a security and technology consultancy service in the cyber risk arena.
Questgates strengthens motor division
Specialist loss adjuster Questgates has appointed two new motor case managers to its motor division, following an increase in the volume of new instructions from both new and existent clients.
Lancashire delivers 58.8% H1 COR
Bermudian insurer and reinsurer Lancashire has reported a combined ratio of 58.8% for the first half of the year, and 66.9% for Q2.
Middle quits Aviva to become Ageas partnerships director
Aviva’s Ant Middle is stepping down from the role of strategic partnerships director to take on a similar position at Ageas.
Renewable energy market could triple insurance spend by 2020
The amount spent on insurance annually to mitigate risks to renewable energy projects could triple by 2020, according to a new report sponsored by Swiss Re.
Renewables market could triple insurance spend by 2020
The renewable energy industry could triple its annual insurance spend by 2020 to mitigate risks to projects, according to a new report sponsored by Swiss Re.
Irish health insurer VHI signs deal with Berkshire Hathaway
State-owned Irish health insurer VHI has signed a €700m deal with US investor Warren Buffet’s company Berkshire Hathaway.
Apil welcomes much-awaited mesothelioma consultation
Claimant lawyers have welcomed the opportunity to speed up the resolution of mesothelioma cases following the release of a consultation on these claims.
Perils publishes Maximum Flood Extent Map for European floods
Perils AG, the independent Zurich-based provider of industry-wide catastrophe insurance data, today released its Final Maximum Flood Extent Map for the floods which affected Central Europe in June 2013.
Fraud costs the industry £1.1bn a year
Fraudulent insurance claims uncovered by insurers have topped £1.1bn a year as the industry’s clampdown on insurance cheats intensifies, according to a figures by the Association of British Insurers.
A quarter of global economic losses in H1 covered by insurers
Around 24% of global economic losses of $85bn during the first half of 2013 were covered by insurance, according to Aon Benfield’s Impact Forecasting centre.
Aon analysis shows 24% of H1 losses covered by insurance
The $20bn (£13bn) total of insured losses for the first six months of the year was approximately 20% below the 10-year average of $25bn (£16.3bn), according to Aon Benfield’s Impact Forecasting centre.
Willis UK in single digit dip as group organic growth increases
Willis’ UK operation experienced a single digit decline in the second quarter, amid a backdrop of the group-wide organic commissions and fees growth of 6.3%.
$20bn of natural disaster insured losses in first half of 2013
Global natural disaster losses during the first half of 2013 on both an economic and insured basis were each below the recent 10-year (2003-2012) averages according to Impact Forecasting.
79 killed in Spanish train crash
A train derailed near the town of Santiago de Compostela in North-western Spain on the evening of 24 July killing at least 79 people and injuring up to 131.
SSP attributes growth to revenue model change
Technology firm SSP has said its growth in recurring revenues is a direct result of scrapping large upfront licence costs.
Keoghs increases fraud savings by 26%
Counter-fraud legal services provider Keoghs said today it helped insurers avoid paying £156m on suspected fraudulent claims in its last financial year – a 26% increase on 2012.
Portal extension should include multi-defendant claims, argues Zurich boss
Multi-defendant disease and deafness claims should be included in the extended road traffic accident portal, according to Zurich’s casualty claims director Karl Helgesen.
DLG’s Tom Woolgrove new CII president
Direct Line Group’s Tom Woolgrove is to take over from Amanda Blanc as president of the Chartered Insurance Institute, following an election at the organisation’s annual general meeting.
Hiscox launches online insurance platform in Germany
Hiscox started offering insurance in Germany via a direct and online insurance offering.
Hiscox expands in Germany with online platform
Hiscox has launched a new direct and online insurance offering in Germany, aimed at businesses with up to €2.5m annual revenue in knowledge-based professions including IT, management and business consulting.
Zurich launches policy validation unit for brokers to help tackle fraud
Zurich has launched a dedicated policy validation unit in a bid to help personal lines brokers tackle fraud at the quote stage.