News
Jobs at risk as KPMG feels bite of Solvency II delays
Up to 40 actuarial jobs are at risk at KPMG as the accountancy giant feels the pain of uncertainty around the timeline for Solvency II coming into force.
Mass warns against red tape resulting from medical panels
The Motor Accident Solicitors Society has backed in principle proposals put forward by the Association of British Insurers calling for accredited medical experts to assess whiplash injuries.
Zurich claims boss champions further RTA fixed cost reductions
Zurich’s casualty claims director believes reduced fixed recoverable costs for the Road Traffic Accident scheme could potentially be halved if a further consultation was to be given the go ahead.
ING unveils governance changes for insurance business
ING today unveiled changes in the governance of its insurance/investment management Europe business as it continues to push forward with its preparations for a standalone future.
Ten Insurance starts search for new chairman
Independent commercial broker network Ten Insurance is soon to start discussions to replace recently retired David Pearce, who has left his role as non-executive chairman.
Apil: Insurers will ‘call the shots’ under whiplash proposals
Insurance companies are set to “do the best for themselves” by paying less than the fair level of personal injury compensation in the small claims court, according to the Association of Personal Injury Lawyers.
SII interim measures could bring costs without benefits, warns Insurance Europe
Insurance Europe has raised concerns about the impact of interim measures in the wake of Solvency II delays, in a letter to the head of the European Insurance and Occupational Pensions Authority.
Hurst-Bannister expands Xchanging role
Former London Market Group and Travelers chairman Barnabas Hurst-Bannister has been given an expanded role at technology provider Xchanging.
Lockton expands Manchester wholesale team
Lockton has boosted its Manchester-based Lloyd's London market wholesale unit with the appointment of Greg Sands an experienced as business development executive.
Westinsure boss Erwin mulling over appeal on 20% tax ruling
Westinure is considering an appeal against a ruling upheld by the First-tier Tribunal stating that broker networks that provide better deals via larger insurers must charge members full UK VAT at 20%.
PZU sees net profit rise 40%
PZU posted a 40% rise in net profit to 3.26bn zlotys for 2012, slightly below the 3.46bn forecast by analysts, Reuters reported this morning.
ABI demands accredited whiplash examinations
Whiplash injuries would be assessed by an accredited medical expert under new proposals published by the Association of British Insurers.
Prudential gained 1m more Asian customers in 2012
On the release of its 2012 results, insurer Prudential revealed that it had added over 1m customers across Asia in 2012.
Cross-border acquisitions drive demand for transactional risk insurance
Global demand for transactional risk insurance grew by 41% last year as firms turned to insurance to protect large deals and cross-border acquisitions and sales, according to Marsh.
Lancashire names Redhead as capital management boss
Bermuda-based insurer and reinsurer Lancashire Holdings has named Darren Redhead as head of it’s capital management division.
RBS to reduce DLG stake to 49%
Royal Bank of Scotland is to place a second tranche of Direct Line Group shares on the stock market via an accelerated book build.
Insurance Insight launches Claims Club Asia
Post's sister title Insurance Insight has launched the Claims Club Asia to support claims professionals across Asia.
China cautious over financial super-regulator
Chinese officials have yet to decide whether to create a new regulator overseeing the insurance, banking and securities sectors.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
PZU linked with Poland's EMC
Polish insurer PZU has been touted as a possible suitor for Polish hospital group EMC Instytut Medyczny.
FSA to ask for disclosure of claims data
The Financial Services Authority has published a discussion paper into transparency and effective disclosure as tools to improve accountability and build consumers’ trust.
FTT ruling triggers 20% tax implications for brokers
Networks that enable broker members to gain access to better terms with larger insurers must charge full UK VAT at 20%, the First-tier Tribunal ruled yesterday.
FSA to review insurers’ use of private investigators
The Financial Services Authority has confirmed it has started a review into the use of private investigators by insurance firms.
Axa sees PMI membership rise in 2012
Axa grew its private medical insurance membership base by 11% in 2012.