News
Aviva: We are not anti-network
Aviva is confident it will not lose out on any relationships with individual brokers after it breaks ties with Willis Networks, according to the insurer's director of broker distribution, Phil Bayles.
Allianz forecasts stable operating profit in 2013
Allianz chief executive Michael Diekmann said today the firm expects operating profit in the region of €9.2bn in 2013.
Brokers herald White appointment as making 'perfect sense'
Broking bosses have thrown their support behind newly appointed British Insurance Brokers’ Association chief executive Steve White, with many describing the selection as making “perfect sense”.
Equity pair hit with Lloyd’s sanctions
Equity Red Star’s former active underwriter and finance director have been hit with Lloyd’s costs and barred from holding Lloyd’s director positions.
White replaces Galbraith as Biba CEO
Outgoing Biba chief executive Eric Galbraith is to be replaced by the industry body’s head of compliance and training Steve White.
IFB and Acpo to share fraud intelligence
The Insurance Fraud Bureau and the Association of Chief Police Officers have signed an agreement to share intelligence on organised criminal gangs and combat insurance fraud.
Hong Kong GI underwriting profit fell 36% in 2012
Last year the general insurance market in Hong Kong recorded a 13% growth in premiums over 2011, but a 36% fall in underwriting profitability.
50% growth in M&A transactional insurance in Asia, says Marsh
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
Transport Select Committee seeks further whiplash feedback
The Transport Select Committee has responded to debate triggered by the Ministry of Justice’s whiplash consultation paper by calling for evidence on reducing the number and cost of whiplash claims.
QBE pulls plug on builder's indemnity cover in South Australia
QBE will stop offering builder's indemnity insurance in South Australia from 1 July as insolvencies rise.
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.