United Kingdom (UK)
London failing to stem reinsurance decline, says LMG
The London market is losing ground as a global centre for reinsurance and faces significant challenges in emerging markets and diversity, according to the London Market Group
13 insurance firms make it onto the London Stock Exchange 1000 Inspirational Companies List
Nexus underwriting has made the London Stock Exchange 1,000 Inspirational Companies List alongside 12 other insurance companies.
Reinsurance pricing won't turn this year, says Fitch
Reinsurance pricing is unlikely to change its course over the next year, with soft market conditions expected to continue and further pricing declines anticipated, according to Fitch Ratings.
ERS appoints ex-AA head of counter fraud
ERS has hired ex-AA head of counter fraud, Steve Gaywood, as the new head of counter fraud for the syndicate.
Legal Update: New technology risk in construction
Construction professionals using unproven technologies may inadvertently affect their professional indemnity cover if they fail to disclose all relevant information to their broker and to keep their insurer in the loop, warns Hannah Cane, partner and…
QBE merges underwriting divisions to form 'Brexit friendly' business
QBE is to combine its underwriting divisions to form a single "Brexit friendly" business.
Axa tops Brokerbility bi-annual survey
Brokerbility has completed its bi-annual member survey, with Axa retaining the top spot for the eighth year running.
NHS attack highlights industry's 'wrong direction' on cyber
A ransomware attack on the NHS has highlighted the “wrong direction” the insurance industry has taken on cyber, experts have warned.
MIB appoints Anna Fleming as COO
The Motor Insurers' Bureau has appointed Anna Fleming to the role of chief operating officer, following her role as acting chief claims officer at Zurich.
Updated: Markerstudy flagged as credit risk on Biba Litmus Test
Markerstudy has been flagged up as a credit risk on a ‘litmus test’ of unrated insurers by the British Insurance Brokers’ Association.
Post People 15 - 19 May
The latest people moves in the insurance industry.
Slater and Gordon to make £600m claim against Watchstone
Slater and Gordon intends to make a £600m claim against Watchstone Group by the end of the month.
Blog: Underwriters need to know their knowns and unknowns
Underwriting behaviours can be embodied by three famous Donalds: Duck, Trump and Rumsfeld, observes Nick Dinsdale, portfolio manager at Covéa, adding that quantifying the known and unknown facts will help make informed decisions.
Week in Post: Bonsai trees, jelly beans and the thousand-yard stare
The majority of the Post team started the week as ‘virgins’ of the British Insurance Brokers’ Association annual conference. This morning, I see most of them have the same look in their bloodshot eyes. War veterans call it the thousand-yard stare.
Allianz in talks over acquisition of LV GI unit: Sky News
Allianz Group is reportedly in early talks for the purchase of LV’s general insurance division.
Biba 2017: The best promo items from the conference
Design guru and sheriff of the written word David Whittam was brought tribute from Biba 2017 in the form of assorted freebies. Here he sorts the wheat from the chaff.
ABI calls for dual rate for personal injury payments in Ogden rethink
The Association of British Insurers has suggested changes to the way the personal injury discount rate is set, calling for a dual-rate system for calculating lump sum payments in personal injury claims.
#BibaFever: B-B-Q: What brokers and insurers want from the next government
Delegates at the British Insurance Brokers’ Association conference have asked the next government for some stability.
LMA calls for discount rate change
The Lloyd’s Market Association has called for major changes to the way the personal injury discount rate is set.
Allianz UK reserves and profit take discount rate hit in Q1
Changes to the Ogden discount rate had a £58.3m impact on Allianz’s existing reserves and resulted in a £10m slump in profits during the first three months to March.
C-Suite: Towergate's Paul Dilley on surviving or thriving
Anyone who’s followed the fortunes of Towergate will know that it has had something of a mountain to climb in the last couple of years – but Paul Dilley believes the full year results show it's made significant progress and now has the summit firmly in…
Blog: Automated claims aren't outlandish
Digital advances will allow insurers to automate smaller claims, predicts Graham Gibson, chief claims officer at Allianz, warning that technological agility and customer focus will be key to survival.
Cameron: Cyber crime solution needs insurance industry input
The insurance industry and the UK government need to work together on cyber crime and travel risks, former Prime Minister David Cameron said in his keynote address to the British Insurance Brokers’ Association conference.
Axa to use Dragon’s Den labs to grow schemes book to £250m
Axa plans to grow its schemes business to £250m in premium as a result of a Dragon’s Den-style innovation lab.