News
Australia government report recommends no subsidies for property insurance
An Australian government advisory report will help protect communities from extreme weather says Insurance Council of Australia CEO Rob Whelan.
Willis Networks and Aviva confirm panel split
Willis and Aviva have mutually agreed that Aviva’s participation as an insurer panel member for Willis Networks will not be renewed upon expiry of the current agreement on 31 December.
Clements opens Dubai office
Clements Worldwide has launched an operation in Dubai, its first on-the-ground location in the MENA region.
Ping An posts 3% rise in net profit
Ping An Insurance (Group) Co. of China posted a 3% rise in its 2012 net profit, the slowest growth in three years, according to the Wall Street Journal.
Clements Worldwide launches Dubai operation
US insurer Clements Worldwide has followed the 2009 launch of its London office with an expansion in Dubai.
Your say: Brokers and insurers must work together
I was interested to read the lead story last week on Insurance Insight with a spotlight on Italy and its progress with e-commerce.
Generali Vienna's CEO to head Central and Eastern Europe
Generali has appointed Luciano Cirinà as new chief executive officer of GPH, its holding company for Central and Eastern Europe, following the buyout of its joint venture partner.
Insurance Europe airs concerns over Solvency II interim proposals
Trade body Insurance Europe has written to the European Insurance and Occupational Pensions Authority opposing the introduction of compulsory quantities reporting amid fears they may cause “unnecessary costs.”
Generali posts 10.5% rise in operating profit
Generali posted a 10.5% increase in group wide operating profit to €4.22bn in 2012.
Overseas buyers behind surge in transactional risk insurance
Demand for transactional risk insurance grew by 41% globally in 2012 as firms increasingly turned to the insurance market to protect large deals and cross-border acquisitions or sales.
Manchester City striker charged with uninsured driving
Manchester City striker Carlos Tevez has been charged with driving without insurance and while disqualified, Cheshire Police said in a statement.
Lloyds job cuts at odds with growth plans, warn unions
Lloyds Banking Group's strategic objective of building long-term stability and growth is being jeopardised by its willingness to sacrifice staff's job security in favour of casual employment contracts, according to trade union Unite.
Axa warns consumers of pitfalls of underinsurance
Axa is urging brokers to warn customers of the possible consequences of cutting back on insurance as they look for ways to reduce their spending.
Insurance jobs go at Lloyds Banking Group amid 550 redundancies
Lloyds Banking Group is cutting 550 jobs from its risk, insurance, commercial banking, retail and wealth, asset finance and international divisions.
BGL criticises Biba over ‘prehistoric’ views
The BGL Group has slammed views expressed by Eric Galbraith, chief executive of the British Insurance Brokers’ Associations, on the transactional nature of insurance, describing these views as ‘prehistoric’.
Pakistan ponders terrorism insurance pool
Pakistan Re is in talks with the Securities Exchange Commission of Pakistan over providing terrorism reinsurance cover.
Motor fuels growth in Singapore
In 2012, profits from motor increased by 135% while overall gross written premiums grew over 5%.
Aviva denies corporate restructure will lead to separation of its UK GI business
Aviva has dismissed suggestions that separating its UK general insurance business from its international operations clears the way for the business to be spun off in the future.
Reames reunites with ex-Swiftcover colleagues at consultancy start-up
Axa’s former chief claims officer and Swiftcover executive Robin Reames has ruled out building a “Swiftcover mark II” after reuniting with three former colleagues at their new Kent-based consultancy firm Trinity M.
Industry expresses surprise as FSA probes use of private investigators
The Financial Services Authority has launched an investigation into insurance firms’ use of private investigators after becoming suspicious they are being deployed as a “tactical tool” to slash valid claims payments.
Career file: Dave Bonehill - Bonehill named CII claims chairman
Ecclesiastical claims and risk services director David Bonehill has been named chairman of the Chartered Insurance Institute's claims faculty board.
Lloyd’s players call for clarity over vision for the market
Lloyd’s is facing scepticism from market members over the progress of two of its highest-profile campaigns – infrastructure plan Central Services Refresh, previously known as Project Darwin, and Vision 2025.
Market Moves: Brokers bring in more new recruits with JLT, Marsh and Willis welcoming fresh faces
Brokers Marsh, Willis and JLT dominated the broking space this week with a raft of new appointments. Marsh created a new corporate division, JLT added three new staff to its financial institutions team and Willis recruited chief executives for its…
Ex-Broker Network boss Gladwell joins Paymentshield
Paymentshield has appointed Lee Gladwell as interim proposition director, with the move coming as the insurance provider prepares for a number of strategic developments in 2013.