Insurer
One Answer Network to launch commercial and personal lines IT platform for brokers
Broker organisation One Answer Network is launching an IT platform in the fourth quarter which will allow members to trade personal and commercial lines products.
Groupama reaches agreement to sell Spanish arm
Groupama is to sell its Spanish operation to Catalana Occidente in a deal worth €404.5m (£326.3m).
ABI backs government plans to reform executive pay
The Association of British Insurers has welcomed the government's "practical and workable" plans to tackle excessive executive pay.
Giles appoints Lewis as healthcare director
Giles is back on the recruitment trail after announcing the appointment of Paul Lewis as director in its recently launched healthcare team.
US Lockton chairman jets into Birmingham for office opening
David Lockton has touched down in Birmingham to officially open the global broker's new offices in the city centre, as part of the firm's expansion in the region.
Insurers less exposed than banks to potential Greek euro exit
Insurance companies are less exposed than banks to contagion risk triggered by a Greek exit from the Eurozone because of an ability to share losses with policyholders and a lower reliance on short-term funding, according to Fitch.
Canopius snaps up Brit underwriting director Dilley
Canopius has announced the appointment of former Brit London underwriting director Paul Dilley, pictured, who joins as head of underwriting for UK retail.
Iranian firms ready to fill oil cover void, says regulator
Iranian insurance companies are ready to offer cover to allow foreign tankers to continue shipping oil after a European Union ban comes into effect next month, the semi-official Fars news agency reported on Tuesday.
Majority of UK motorists put off by 'complicated' claims process
More than half of UK motorists surveyed by InterResolve are dissuaded from making a legitimate claim because of a complicated claims process.
Insurers change approach to calculating capital ahead of Solvency II
As European insurers continue their Solvency II preparations many are changing their approach to calculating capital adequacy requirements, according to Deloitte.
EU insurers to bounce back from possible Greek euro exit
The European insurance sector should be able to absorb shocks arising from a hypothetical Greek exit from the euro, provided the exit was orderly.
European insurers able to withstand orderly Greek exit from euro
Europe's insurance industry should be able to absorb shocks arising from a hypothetical Greek exit from the euro, provided such an exit were orderly, Fitch said in a new report.
Insurer approach to Solvency II is more 'sophisticated', report finds
Insurers have upped the ante in their preparation for Solvency II with 60% increasing the sophistication of their approach.
Barnett Waddingham hires Solvency II boss
Actuary Barnett Waddingham has appointed Cameron Heath to lead the expansion of the firm's Solvency II offering within its insurance consulting practice.
Post Blog: Can affinity marketing really work for insurers and brokers on the aggregators?
It’s hardly surprising why insurers, brokers and affinity groups want their products to appear on the aggregators; when for personal lines, it represents an ever-expanding marketing channel. The rush to the channel has however, recently led to a re…
M&A companies face 90% chance of being sued
There is a 90% chance that a company targeted for acquisition will be sued by its shareholders, yet few businesses document M&A protocols and do not plan to develop them over the next year.
Insurers starting to embrace change but still a way to go, says PwC
PwC's global insurance leader outlined what successful insurers of the future could look like, and discussed the forces re-shaping the insurance sector, when he spoke at the 2012 International Insurance Society Seminar in Rio de Janeiro today.
FSA kept budget spending down, annual report reveals
The Financial Services Authority deliberately underspent on its annual budget as it was “very conscious of the need to control costs, particularly given the difficult environment that firms are operating in”.
Three in four people encouraged to claim compensation
The Association of British Insurers said that a survey has shown that three in four people have received an unsolicited text or phone call from a claims management company offering the chance to claim compensation.
Streamlined Aviva approach to free up regional underwriting opportunities
Aviva will invest in its corporate specialty business capability while freeing up underwriters to concentrate on targeting mid-market opportunities, in line with the firm’s regional strategy.
Lloyd’s chief calls for Eurozone fiscal unity
Lloyd's of London chief executive Richard Ward has stressed the importance of fiscal unity throughout the Eurozone after Greece voted to remain in the euro.
Fitch affirms Rossiya ratings after restoration of motor licence
Fitch Ratings has affirmed OJSC Rossiya Insurance Company's insurer financial strength at 'B-' and national IFS rating at 'BB-' and removed them from rating watch negative.
MEPs urge eCall to be mandatory by 2015
All new cars must be fitted with eCall devices by 2015 to alert the rescue services automatically to road crashes through the public 112 emergency call system, say MEPs in a resolution adopted jointly by the Internal Market and Transport Committees.
Insurance industry almost as innovative as technology and entertainment sectors
Insurance ranks high in business model innovation just behind technology, communications and entertainment, according to a PwC survey.