Insurer
Aviva UK GI records best COR in 8 years despite fall in profits
Aviva was aided by benign weather conditions in delivering its best UK general insurance combined operating ratio for eight years in the opening six months of 2015, however operating profit fell 11% to £223m (H1 2014: £251m).
Hester bigs up RSA's ‘stand-alone' value in face of Zurich deal
RSA's strategy dictates it will have a strong stand-alone value in the coming years, according to group CEO Stephen Hester who has assured shareholders he is serving their interests in the face of a potential takeover bid from Zurich.
RSA reports record UK underwriting profits as Hester praises ‘excellent' progress
RSA has reported record UK underwriting profits of £77m and a combined operating ratio for the region of 94.4% for the first six months of 2015.
Large losses and rising expenses hamper Zurich's first half global results
Zurich blamed a 15% fall in pre-tax global profits to $2.2bn (£1.4bn) in the first half of 2015 on a significantly lower contribution from its GI business.
Snowball warns over government disaster insurance scheme
Outgoing CEO of Suncorp Patrick Snowball has said a potential Australian government backed insurance disaster scheme would not provide the required protection communities deserve.
China regulator to introduce insurer service rating system
The China Insurance Regulatory Commission is planning to rate general and life insurers based on procedures from sales to claims.
Auto Windcreens pens 10 year deal with AA following acquisition
Automotive glass repair and replacement provider Auto Windscreens has acquired the AA’s automotive glazing business AA Auto Windshields.
Post magazine – 6/13 August
The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS or Android App Edition on the App Store or Google Play respectively or read the Post Digital Edition online.
Quindell to be investigated by Serious Fraud Office
The Serious Fraud Office has notified Quindell that it has opened an investigation relating to past business and accounting practices at the outsourcer.
Capital return to shareholders on the Quindell agenda
Quindell non-executive chairman Richard Rose has outlined the firm’s approach towards a capital return that will see shareholders receive at least £1 per share in a cash handout funded by the sale of its professional services division.
CEO appointment imminent at Quindell as financial restatements are revealed
Quindell is on the verge of appointing a new group CEO with a mandate to lead a review of its businesses after financial restatements by the outsourcer turned the 2013 after tax profit of £83m into a £68m loss.
Post Q&A: The use of data and analytics in the London and Lloyd's market
The London market is one that is characterised by significant competition, but low margins.
L&G brings COR down to 82% as disciplined pricing sees GWP fall
Legal & General delivered a 36% increase in operating profit to £38m within its general insurance business at the halfway point of 2015 (H1 2014: £28m).
Most Biba members source PI cover from specialist brokers
The vast majority of brokers seek advice and buy their professional indemnity policies from a fellow intermediary that specialises in PI cover, a British Insurance Brokers’ Association survey has found.
Hiscox completes purchase of classic car specialist
Hiscox has completed its acquisition of specialist UK classic car business, RH Specialist Insurance.
Blog: Travel insurance and the affinity market
Since the 1990s, cross-selling travel insurance has been an important activity for a wide range of brands as - according to the most figures published by Finaccord, there are well over 500 schemes for travel insurance involving external partners. Paul…
Pen PI team gets 'A' rated capacity boost from Qatar Insurance Group
Pen Underwriting, the Arthur J Gallagher-owned managing general agent collective, has signed a long-term capacity deal for its solicitors' professional indemnity division with Qatar Insurance Company Europe.
Ageas UK's Watson signals commercial appetite after improved profitability
Ageas UK is to focus on writing schemes business, digital trading and motor in its commercial book after an action plan has led to sustained profitability in the division, CEO Andy Watson has said.
Ageas UK grows profits as Watson hails upward motor pricing trend
Ageas UK has reported an increased net profit for the six months ended 30 June 2015 to £29.5m (H1 2014: £25.3m) and an improved combined operating ratio of 98.3% (H1 2014: 100.7%).
Novae's renewal rates fell 3.3% on average in first half
Specialist (re)insurer Novae saw average renewal rates reduce 3.3% in the first half of the year.
News Editor's Comment: Out of the loop
Most business-minded people like to think of themselves as being ‘in the loop’ when it comes to decisions directly impacting their commercial affairs, which is why the recent disconnect between insurance firms and government is likely to feel like…
Berkshire Hathaway offers marine in Australia and New Zealand
Berkshire Hathaway Specialty has begun marine underwriting in Australia and New Zealand.
Asia C-Suite: Improving China's claims
A senior Chinese broker believes that clients needing to accept compromises over claims is diminishing confidence in Chinese insurers.
Compulsory insurance for drones mooted as insurers are urged to review wordings
Insurers must review policy wordings that could be interpreted to cover drone use, legal experts have advised, amid calls for the industry to lobby regulators around safety laws and the potential for compulsory insurance relating to the emerging…