Europe
Biba confirms active role in IDD consultation
The British Insurance Brokers’ Association said it will play an active role in the consultation over the UK implementation of the insurance distribution directive.
Solvency II safeguards mean no need for EU rule change
The safeguards provided by Solvency II mean that a new EU framework on recovery and resolution for insurers is not required, according to Insurance Europe.
Crawford & Company reports improved financial results for 2016
Crawford & Company has reported improved financial results in 2016 with a net income attributable to shareholders of $36m (£28.9m), up from a net loss of $45.5m in 2015.
Hiscox shortlists two locations for post-Brexit base
Lloyd’s of London underwriter Hiscox said it has shortlisted two European Union countries and was in talks with regulators to set up a new insurance base to continue servicing clients after Britain leaves the EU.
QBE appoints McMillan as COO
Sydney-headquartered QBE has appointed former CEO of Aviva Europe and chairman of global health insurance David McMillan as group chief operations officer.
QBE announces A$1bn share buyback after 2016 profit increase
Australian global giant QBE has seen its share price climb after posting its 2016 group performance today.
Skuld Copenhagen sees leadership change
Krester Krøger Kjær has taken over as head of Skuld Copenhagen, replacing Helle Lehmann.
Blog: Usage-based insurance, an untapped opportunity
The growing usage-based insurance market is an opportunity for insurers, but there are some barriers yet to overcome.
Swiss Re CUO to step down
Swiss Re’s Matthias Weber is to step down as group chief underwriting officer.
Swiss Re Q4 profit drops 45% due to nat cat claims
Reinsurance giant Swiss Re has reported a 45% drop in fourth quarter net profit, citing costly natural catastrophe claims for the fall in profit.
RSA's profit climbs 25% in 2016 as annual cost savings hit £290m
RSA's UK operating profits increased 76% in 2016 to £259m - the best result in a decade.
Aviation Claims: Winging it
Despite a number of air accidents over the past few years, safety when flying has improved dramatically. However, overcapacity and a lack of profitability could be affecting the market
'Heat is on' to be Europe-friendly ILS hub
Global insurance centres are under competitive pressure to be a Europe-friendly base for insurance linked securities, said PWC's Marta Abramska
Former RSA Ireland CFO fined and banned for misconduct
The former chief financial officer and two former actuaries of RSA Insurance Ireland have admitted misconduct and agreed to fines following a Financial Reporting Council investigation.
Interview: Jim Bichard, PWC
When the referendum result came in on 24 June last year, there was a moment of disbelief in the market. Many business leaders were forced to re-examine what exposures they faced and what steps they needed to take next.
Quarter of insurance CEOs expect to make redundancies over the next 12 months, says PWC
A quarter of insurance CEOs expect their companies to make redundancies in the next 12 months, according to an extensive survey.
Willis Towers Watson eyes French aviation broker
Broker Willis Towers Watson has entered into exclusive negotiations with OAAGC, the French aviation brokerage, to acquire its team and book of business.
Chubb appoints Matthews as Europe COO
Chubb has appointed Adrian Matthews as chief operating officer for Continental Europe.
Week in Post: Moves and booze
For the first time ever, I had to purchase home insurance this week and despite working with the insurance industry, I had no idea how to go about it. So I ended up on an aggregator site.
Allianz's global P&C profit falls 4.2% in 2016; P&C COR improves to 94.3%
German global insurer Allianz finished the year with a strong fourth quarter to meet its profit expectations for 2016 despite weaker investment returns in its P&C business.
Building Block signs distribution deal with Icelandic broker Tryggja Ehf
Malta-based protected cell company Building Block has signed a distribution deal with Icelandic broker Tryggja Ehf for a Tenant Default product.
The Polish insurance market and its prospects
Price wars in the motor sector have contributed to poor results for Polish insurers, but the market could be shaken up by upcoming distribution rules and potentially growing demand for property, liability and cyber policies.
Half of insurers to acquire digital assets, says Willis Towers Watson
Global advisory firm Willis Towers Watson is expecting almost half (49%) of global insurers to acquire digital technologies in the next three years.
Lloyd's employees given business hours alcohol ban
Around 1000 employees worldwide at Lloyd's of London will no longer be able to consume alcohol during business hours from Monday to Friday.