Insurance Australia Group (IAG)
IAG to retain Equity Red Star
Insurance Australia Group chairman Brian Schwartz has vowed not to sell its embattled UK business Equity Red Star.
Former Aon UK boss Harmer takes up role at IAG
Insurance Australia Group today announced the resignation of current CEO of CGU, Mr Duncan West for family reasons and the appointment of Peter Harmer as his successor.
Snowball eyes return to UK
Former Aviva board director Patrick Snowball has revealed his firm intention to return to the UK insurance market when his contract with Australian financial services firm Suncorp finishes in 2013.
Interview - Patrick Snowball: Turning the light on at Suncorp
When Patrick Snowball headed to Brisbane to take the reins at Suncorp, many in the UK industry were surprised. Jonathan Swift finds out why he took this particular job offer and his plans for his tenure.
IAG: 2011 to remain “challenging” in UK
Insurance Australia Group has predicted it will encounter further struggles in the UK market in 2011, as the insurer’s UK division aims to recover from a disappointing 2010.
Provident sale nears conclusion
Tom Callahan, the new president of GMAC Insurance, has insisted the insurer has "no plans" to divest of its remaining UK insurance asset, Car Care Plan.
Cunningham Lindsey New Zealand CEO: clear up could take “years”
Speaking to Post from Christchurch, New Zealand, Martyn Norrie, chief executive of loss adjuster Cunningham Lindsey’s New Zealand operation, said the operation to restore the city to normality could take “years”, considering government planning and…
NZ earthquake losses to near £3bn
Reinsurers are set to be primarily impacted by the 4 September earthquake near Christchurch, New Zealand.
RMS: 30% of New Zealand losses commercial
Based on its analysis of the area exposed to the New Zealand earthquake, Risk Management Solutions has predicted that approximately 60-70% of the insured loss will be residential, and 30-40 percent will be commercial and industrial.
Fitch: reinsurance rates set to rise for Australian firms
Fitch Ratings has commented today on the Australian non-life majors' adequacy of catastrophe reinsurance protection, following the Christchurch earthquake.
Reinsurance will absorb quake losses, says IAG
Insurance Australia Group has said it is "too early" to determine the extent of damage in Christchurch following the earthquake at the weekend.
IAG defends ERS in face of report
Australian insurer IAG has defended its UK business Equity Red Star, insisting it will return to long- term profitability.
IAG UK reports full year loss of $355m
Insurance Australia Group today announced its UK business had recorded a loss of $355m for the year ended 30 June 2010 (FY09 $113m), a margin of minus 65.5% (FY09 15.2%).
Neil Utley confirmed among Provident runners and riders
A source close to a consortium of insurance investors — including outgoing IAG UK chief executive Neil Utley — has confirmed it is among the frontrunners to buy motor insurer Provident.
Lloyd's insurer Equity co-operating with FSA over investigation
Equity Red Star is reported to be under investigation by the Financial Services Authority over concerns about the impact of bodily injury claims on its balance sheet.
Guidewire lands IAG claims contract
Insurance technology firm Guidewire has been selected by Insurance Australia Group as the provider of its claims handling software.
Penny Black's insurance week
Penny congratulates Neil Utley on his wedding in the grounds of his Cambridgeshire home at the weekend.
Sabre to join Provident on Tesco panel
Sabre is poised to join Provident Insurance on Tesco Bank's specialist motor panel, Post has learnt.
Outgoing IAG UK boss Neil Utley backs £74m buyout
KBC Group and KBC Peel Hunt have reached agreement over a buy-out of KBC Peel Hunt for a total consideration of £74m.
Post in print - 29 July 2010
Post reporter Amy Ellis outlines the main news from this week's issue of Post.
Utley looking forward to "entrepreneurial" life after IAG
Outgoing IAG UK chief executive Neil Utley has poured scorn on any prospect of him returning to buy the Equity Red Star business for a second time.
CEO Utley out at IAG UK
Insurance Australia Group has announced today that Ian Foy, currently CEO of IAG’s New Zealand business, will return to the United Kingdom to become CEO of IAG’s UK business, succeeding Neil Utley.
British Insurance Awards 2010: Remarkable rise
Keeley Goding’s meteoric rise to lead Hiscox’s technical claims team is underpinned by a maturity beyond her years that has seen the quality of work by the department go from strength-to-strength, writes Leigh Jackson.
IAG UK to lose 5% of broker partners in recovery plan
IAG UK's largest business Equity Red Star is set to shed around 175 of its broker partners and withdraw from the majority of its aggregated business, as it plans its recovery from a "significant deterioration" in its claims experience.