Insurer
Ageas's Barry Smith wins BIA achievement award as 20th anniversary winners revealed
Post Magazine celebrated the 20th anniversary of the British Insurance Awards last night in a ceremony at the Royal Albert Hall, attended by 2000 members of the insurance industry.
Hiscox predicts £1bn capacity for Syndicate 33
Hiscox is expecting £1bn capacity for Syndicate 33 in 2015, according to its initial business forecast.
Watchdog welcomes ABI's proposals on renewals
The Financial Conduct Authority has called for businesses to improve the way they offer motor and home insurance policy renewals while it considers proposals from the Association of British Insurers to boost clarity in that area.
Guy Carpenter appoints de Haas to lead Benelux region
Guy Carpenter has appointed Roelant de Haas as Benelux region chief executive, effective 1 September.
ABI seeking better clarity for customers on renewals
The Association of British Insurers is asking the Financial Conduct Authority to regulate on a minimum standard of information for companies to give customers when renewing their motor or home insurance policy.
Elite points to profits of £7m and £115m GWP in past year
Elite Insurance has unofficially calculated profits before interest and tax of £7m and gross written premium upwards of £115m for the 12 months to 31 March 2014.
Co-founder Carslake leaves Towergate-owned Arista
Arista founder Lyn Carslake has left his role as deputy chief executive at the managing general agent.
Modi government revives long-awaited FDI hike
India’s new government has revived plans to increase the foreign direct investment ceiling to 49% from 26% but has proposed a number of safeguards, according to local media reports.
Admiral to post tumbling H1 turnover
Admiral will post slipping turnover figures for H1 next month, in spite of increased numbers of customers both in the UK and group wide.
Ecclesiastical hires Saunders for regional role
Ecclesiastical has hired Adrian Saunders as corporate business and regional director for London.
Post magazine – 10 July 2014
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Helios grows underwriting capacity with Dumasco buy
Helios Underwriting has acquired Lloyd's limited liability member Dumasco for £2.5m.
Average UK motor premiums down £17 according to price index
Continuing pressure on car insurance prices for younger drivers has pushed the average cost of a comprehensive motor policy in the UK down by £17 to £579 during the second quarter of 2014, according to the car insurance price index from Confused.com and…
Only 6% of insurance execs believe Solvency II costs are ‘reasonable’
A survey conducted by Grant Thornton has revealed that only 6% of insurance industry executives described the costs associated with Solvency II are "reasonable".
Editor's comment: Misguided? That’s putting it lightly
Underinsurance is a huge issue for the whole of the insurance sector and an ongoing battle for brokers, while putting the customer at the heart of every decision is becoming a mantra for the Financial Conduct Authority.
Insurers and government consider risk cover for growing asset-sharing sector
Concerns raised over claims management companies approaching the industry
Insurers maintain opposition to young driver curfews despite public backing
Sources suggest long-delayed green paper on young driver safety could be revived
Banning pre‑med whiplash settlements is not cost-effective, insurers tell TSC
Insurers refute Mass claim that pre-med settlements invite fraud
Ghost broker who targeted Yorkshire's Asian community jailed
A ghost broker who sold invalid car insurance policies to more than 100 Yorkshire-based motorists was today jailed for fraud.
Beijing insurance research organisation launched
Two Chinese insurance industry bodies have set up the Beijing Insurance Research Institute to support the reform of China's insurance sector.
FSCS GI provision payments increase by £10m
The Financial Services Compensation Scheme paid out £90m in the general insurance provision class during 2013/14 - a £10m increase on the previous year, according to its annual report.
Premiums to account for 5% of China’s GDP by 2020
The growth of the Chinese insurance industry is set to continue apace, with the China Insurance Regulatory Commission forecasting that premiums will account for 5% of gross domestic product by 2020.
AmTrust offers premium savings to solicitors using risk reduction software
Solicitors who use risk mitigation software will be rewarded with discounts on their professional indemnity premiums under a new initiative by legal risk software house Lexsure and insurer AmTrust Europe.
C-Suite - Insurer: The hidden cost of broker rates
With broker commission hitting unreasonable heights, the squeeze is on insurers and consumers alike