News
Deputy Mayor threatens to name insurers behind unpaid riot claims
The deputy mayor of London has threatened to “name and shame” insurers who have not settled claims following the 2011 London riots without sufficient justification.
Towergate network division has “gone backwards” admits Hodges
Towergate chief executive Mark Hodges has conceded that the broker’s network business has "gone backwards" this year, despite being bullish on the future of the division.
Keelan Westall aims to double broker club membership
Keelan Westall plans to increase membership of its Prestige Broker Club by 50% over the next year, and has its sights set on brokers generating more than £150 000 gross written premium.
CVC in exclusive talks over Domestic & General deal
Private equity house CVC is closing in on a deal to acquire home appliance insurer Domestic & General according to reports.
Aviva 'seeking India exit'
There are reports that Aviva is seeking to exit from its joint life insurer venture in India.
L&G reveals dramatic COR improvement
Legal & General has recorded a general insurance combined operating ratio of 81% for the first half of 2013 – an improvement from 99% year-on-year.
Esure sees H1 profits surge over 15%
Personal lines insurer Esure has reported climbing profits for the first six months of 2013, alongside a boosted combined ratio.
Towergate hit by £10m H1 loss after loan fee write-off
Towergate has reported a pre-tax loss of £9.9m for the first six months of 2013, in spite of boosted income and flat operating earnings.
Europe's floods hit Munich Re's profits in Q2
Munich Re's profits fell considerably in the second quarter compared to the same period in 2012 as it booked a huge cost for the recent European floods.
Herratt joins Cooper Claridge-Ware
David Herratt, former acting CEO of the Hong Kong office of broker Swiss Insurance Partners, has joined Hong Kong-based broker Cooper Claridge-Ware.
Markel liability boss defends scope of D&O cover amid calls for reform
Markel International’s head of management liability risks has stated that defence costs are covered “in almost all situations”, following calls by the Institute of Directors for liability insurance reform.
Aviva staff could lose bonuses under cost cutting plans
Employees of Aviva may have their bonuses withheld this year unless cost cutting targets are met, reports suggest.
Claims handler sentenced for €45 000 fraud
A Welsh insurance claims handler was jailed for 17 months on Friday after stealing €45 000 from his employer to settle pay-day loans and drug debts.
IUA establishes Political Risk Committee
The International Underwriting Association has created a new London market Political Risk Committee comprising underwriting and claims representatives from across the association’s member companies.
CII: Data protection hindering fraud fight
The industry's attempts to work together to combat fraud are being hampered by the Data Protection Act, the Chartered Insurance Institute has claimed.
Guernsey issues licences to 46 international insurers in first half of 2013
The Guernsey Financial Services Commission licensed 46 international insurers in the first half of 2013.
Guernsey issues licences to 46 international insurers in first half of 2013
The Guernsey Financial Services Commission licensed 46 international insurers in the first half of 2013.
Covéa appoints Owen to newly-created post
Covéa Insurance has named Maureen Owen head of regions for the North.
Evolution Underwriting names new sales co-ordinator
Evolution Underwriting has promoted Michelle Buckley-Clarke to the newly created role of sales co-ordinator.
Claims handler jailed for £39 000 fraud
A Welsh insurance claims handler was jailed for 17 months on Friday 2 August 2013 after stealing £39 000 from his employer to settle pay-day loans and drug debts.
Insurers predicted to top banks in infrastructure investment
Legal and General is predicting insurers and pension funds will be funding UK infrastructure investments in the next 10 years – not banks.
Earthquake strikes Japan; no damage reported
A magnitude 6.0 earthquake struck off the coast of Japan yesterday (4 August) but there was no reports of damage.
Huge reinsurance growth potential in Asia, says Fitch
Global ratings agency Fitch believes there is significant room for the reinsurance market in Asia to grow given relatively low insurance penetration in Asian markets.
CIRC confirms end to life insurance interest rate cap
China's Insurance Regulatory Commission has confirmed the end to the 2.5% cap on interest rate for standard life policies.