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IAG maintains silence on UK business sale
Insurance Australia Group has stressed that writing off its remaining goodwill and intangible assets in the UK business is not necessarily a sign that it will sell that division.
IAG sheds $300m assets ahead of potential UK business sale
Insurance Australia Group has written off AUD$297m (£196.6m) remaining goodwill and intangible assets associated with the UK business just months before it decides whether to sell its loss-making divisions.
Chinese insurers to benefit from broader investment scope
The relaxation of investment rules for Chinese insurers should allow them to match the duration of their assets and liabilities more accurately and benefit from improved earnings stability, Fitch believes.
Capacity providers to enable Synergy product expansion
Synergy Insurance Services is expanding its product range having secured new capacity providers in the form of Ironshore Europe and Equity Red Star.
IAG to spend £66m on Asian market
International Australia Group has set aside £66m to acquire businesses in Asia in a bid to boost its gross written premium contribution to 10% by 2016.
Roundtable: How can fraud be halted at the underwriting stage?
There has long been a focus on fighting fraud at the claims stage, but could more be done to discourage would-be fraudsters at an earlier juncture?
Brightside boss Holman eyes up employee benefits offering
Newly appointed Brightside boss Martyn Holman, pictured, has announced plans to start reviewing the business in the next two weeks and potentially enter new lines including employee benefits.
Equity offers new mini-fleet product
Equity Red Star has launched a solution for family run businesses and small enterprises operating fleets with two to 10 cars and/or commercial vehicles.
Equity renews motor insurance deal with HSBC's First Direct
Equity Insurance Partnerships has extended its affinity insurance partnership with First Direct, the banking brand which is a member of HSBC Group.
Ex-Jubilee motor boss joins HDI-Gerling
Industrial insurance firm HDI-Gerling is expanding its UK offering to include motor fleet in the UK after appointing John Shepherd to head up the new line of business.
Post magazine - 24 May 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Hampden Underwriting posts a loss but vows to raise cash
Hampden Underwriting has posted a net loss of £387 000 (2010: £132 000) in its full year results citing last year’s catastrophes as the cause but the chairman has pledged to raise capital.
IAG boss Wilkins admits it may dump loss making UK business
IAG managing director and chief executive Mike Wilkins has said that now is an appropriate time to assess the options for the UK business, given the improvement in its performance and the current UK economic conditions.
Aviva set to reap rewards of AJG swoop for IDL
Arthur J Gallagher International has today snapped up niche over-50s personal lines specialist Insure 4 Retirement from previous owner Equity. The deal boosts the premium per year being put through subsidiary OIM Underwriting by well over £100m in a…
Engelhardt tops Sunday Times insurance Rich List
Admiral's Henry Engelhardt, pictured, was the insurance industry’s top player in this year’s Sunday Times Rich List, with a total worth of £528m, down £120m from last year. He came in at 156th place, down from 120.
Cunningham Lindsey signs three-year claims handling deal with Equity
Cunningham Lindsey has teamed up with Equity Red Star's home insurance division to provide the insurer with claims handling services.
Lloyd’s witnesses new wave of MGAs due to Solvency II and M&A activity
In recent months the industry has witnessed a renewed surge in the number of Lloyd's insurers teaming up with managing general agents to access new lines of business.
Equity starts performance-related pay
Equity Insurance's head of compensation and benefits, Ricky D'Ash, has revealed plans to introduce a grading system and performance-related pay for all 1,200 staff.
Brokers 'very positive' on in-vehicle management technology rollout
Equity Red Star CEO Ian Foy has hailed the rollout of in-vehicle management technology Equitrack, claiming that brokers have responded favourably to the belief that the launch will drive down costs and claims.
R&Q takes Syndicate 1208 from Equity
Randall and Quilter has reinsured-to-close the former 2007 year of account of Syndicate 1208 into the 2012 year of account of Syndicate 3330.
IAG reports loss of $7m for H1 2012, as CEO hails improvement
Insurance Australia Group has reported that its UK arm made an underwriting loss of Au$7m for the six months to 31 December 2011.
Names protest group calls for Lloyd's meeting over Equity censure
A Names protest group that was burdened with losses from Equity Syndicate’s 2007 account is seeking a meeting with the Lloyd’s Enforcement Board to discuss the findings of its investigation.
Post Intelligence Benchmarking - Commercial insurers: Winners and losers
The annual Insurance 360 Business Insurers Insight Report service rankings show some steady, some on ladders - and some on snakes.
Hastings stands by Utley as he prepares to face disciplinary board
Hastings Direct has vowed to stand by chairman Neil Utley, pictured, as he prepares to face the Lloyd’s disciplinary board later this month, as part of an investigation into Equity Red Star.