Insurer
CEO Beale hails 'strong' result despite flat Lloyd's profit of £3.2bn
Lloyd's has posted a pre-tax profit of £3.2bn for 2014 in what CEO Inga Beale has described as a "strong set of results" for the specialist insurance market.
Redress for opt-out add-on buyers mooted
Redress for consumers who bought add-ons unnecessarily through the opt-out process would be a "logical conclusion" of the Financial Conduct Authority consultation into the sales practice, according to PWC.
AA refuses to rule out Gibraltar for "well advanced" new insurer launch plan
The AA is “well advanced” in its plans to launch a new insurance company vehicle to quote on its broker panel for motor insurance, with a launch expected within months.
Property bodies call for delay to final Flood Re regulations
A coalition of property industry bodies have written to Secretary of State Liz Truss calling for the government to delay laying the final regulations of its flood insurance scheme, Flood Re, to ensure that homeowners are not left exposed to rocketing…
Industry warned of potential class suit from rugby concussion claims
A predicted big "storm" of concussion injury claims from rugby union players has the potential to lead to a costly class action lawsuit, legal experts have warned.
Money Supermarket's Nixon backs out of share sale
Money Supermarket founder Simon Nixon has decided against selling a 6.4% stake in the company one day after it was proposed.
Tulloch concerned over climate change
Aviva's CEO Maurice Tulloch has voiced his concerns over climate change at the Association of British Insurers' event on the subject on 24 March.
AA posts 1% increase in revenue as it unveils refinancing plan
The AA posted a 1% increase in revenue to £983.5m for the year ended 31 January 2015, preliminary figures published today revealed.
ERS puts 380 staff on notice as it targets 90% COR
Specialist motor insurer ERS today put 380 staff on notice of redundancy ahead of the closure of its Brentwood office.
Blog: Things we should learn from Post's Hackathon
The insurance industry's reputation for innovation leaves a lot to be desired. When describing the speed with which new technologies are adopted in the industry, references to oil tankers and dinosaurs are much more appropriate than those to jet planes…
Ageas promotes Middle to head up retail division
Ageas Retail’s Partnership director Ant Middle has been appointed as CEO of Ageas Retail.
FCA mulls ban on opt-out selling of add-ons
The Financial Conduct Authority has sounded the death knell for the opt-out method of selling of add-ons, following its market study last year.
Hood Group picks Cega to support travel insurance programme
Affinity insurance provider Hood Group has appointed global assistance partners Cega to deliver emergency assistance and claims services.
Ecclesiastical celebrates best underwriting figure for five years
Ecclesiastical has posted a pre-tax profit of £48.2m for 2014 and an improved combined operating ratio for the year.
Nationale Suisse shares delisted
The Cantonal Court of Appeal in Basel-Stadt has declared the shares in Nationale Suisse that are not held by Helvetia to be invalid.
Post magazine - 26 March 2015
The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS App Edition on the App Store or read the Post Digital Edition online.
Editor's comment: Moving with the times
Cyber is the watchword of this generation and it’s hard to image how our world would function without all the technology we use every day.
Industry should prepare for $1bn container ship loss, says AGCS
After a 80% plus increase in container ship capacity in a decade, Allianz Global Corporate & Specialty is warning of some significant loss events to come.
Closing Gibraltarian underwriter warns of SII pressures
The chairman of Gibraltarian underwriter Service Insurance Company said UK motor market pressures and the looming Solvency II deadline in 2016 led to the firm deciding it was not "economically sensible" to continue operating.
Fraudster jailed for a year after RSA investigation
A fraudulent claimant has been jailed for 12 months after being found guilty of contempt of court.
In-house investigators dodge PI regulation amid deadline delay
In-house claims investigators will not be subject to statutory licensing for private eyes, according to the Association of British Insurers, which has expressed concerns that uncertainty around the introduction of PI regulation is “hindering” insurers.
Allianz confirmed as lead insurer for Germanwings plane crash
Allianz is the lead insurance underwriter for the Germanwings Airbus A320 plane which crashed in France on Tuesday.
Climate change effects will be ‘alarming', insurers told
The insurance industry has been warned about the "alarming" effects of global climate change will have on their business.
Diverse recruitment required if London is to secure global cyber dominance
Greater cross-industry collaboration and a significant recruitment drive are needed if London is to fulfil its ambition to become a global cyber insurance hub, according to London market firms.