Insurer
Allied World launches Lloyd's MGA
Allied World Assurance Company has received approval from Lloyd's, the Prudential Regulation Authority and the Financial Conduct Authority to launch its own Lloyd's managing agenct.
Flight MH370 loss could impact war risk rates
If Malaysia Airlines' Flight MH370 is classified as a war loss, it would be one of the largest since the 2001 attacks on the World Trade Centre and would likely lead to rate to rate increases in war policies, according to S&P.
FCA to investigate commercial claims among string of new reviews
The Financial Conduct Authority is to look into the commercial claims market in one of a string of thematic reviews for the general insurance sector announced in its annual business plan today.
Climate change report forecasts increased flooding by 2080
The UK is expected to be among the countries worst hit by flooding by the 2080s, according to the fifth report by the Intergovernmental Panel on Climate Change.
Quindell outlines plans for full listing following year of soaring profits
Quindell recorded a 202% increase in profit before tax totalling £107m last year (2012: £35.4m) as the outsourcing provider plans to launch a full listing by the beginning of June.
QBE has 5.7% GI market share in Hong Kong
QBE ranks second out of over 100 insurers in Hong Kong for placed net premiums in general insurance.
Interview: David Fried, CEO, Asia-Pacific, QBE
Editor, Asia at Post Andrew Tjaardstra interviews David Fried, CEO, Asia-Pacific QBE at the Australian insurer’s new regional office in Quarry Bay, Hong Kong.
Zurich hails successful appeal against £95k car hire bill
Zurich has welcomed a court of appeal ruling that the insurer should not have to pay £95 000 in car hire and storage charges because the claimant should have bought a replacement car at an earlier stage.
QBE signs deal with Shariah-compliant underwriter
QBE is the second insurer to provide capacity to Shariah-compliant MGA Cobalt underwriting.
Ageas expands Darwin Clayton partnership
Ageas has boosted a partnership with independent broker Darwin Clayton, by inking a “multi-million” cleaning and facilities management insurance scheme.
Masojada urges Lords to support Flood Re amendment
Hiscox chief executive officer Bronek Masojada has written to all members of the House of Lords urging them to support an amendment to the Flood Re scheme.
Nelson confirms Lloyd’s insurers have started paying MH370 claims
Lloyd’s chair John Nelson has confirmed market insurers have begun paying out claims relating to the loss of Malaysia Airlines flight MH370.
Brit IPO raises £240m for shareholders
Lloyd’s insurer Brit has priced its shares at 240p each as part of its IPO which has raised around £240m for shareholders.
Only 2% of insurers ready to implement Pillar 3
A PWC poll has found 68% of insurers are less than halfway through the Pillar 3 reporting process for Solvency II.
Generali expands Asia-Pacific business with Mitsui tie up
Italian insurer Generali has completed a deal to expand its operations in Asia and Oceania in partnership with Mitsui Sumitomo
Ecclesiastical promotes Campbell to CFO
Specialist insurer Ecclesiastical has promoted its finance director to a new role as chief financial officers, subject to regulatory approval.
Video - Octo Telematics: Telematics: A niche for young drivers?
Telematics began its journey in the specialist niche of young drivers. But is predicted to move into the mainstream in the future.
M&A more attractive than start-ups in Asia, says Towers Watson
According to consultancy Towers Watson regulatory restrictions make insurer acquisitions more attractive than start-ups in Asia.
Lack of flight data from MH370 could impact claims payouts
The disappearance of Malaysia Airlines flight MH370 should deliver a wake up call to insurers on the importance of external data collection, a specialist aviation barrister has said.
Calls for debate on scrapping of low value PI payouts branded 'cynical'
Law firm Simpson Millar has described suggestions emanating from the Association of British Insurers that cash payouts for low value personal injury claims should be scrapped as “very worrying”.
Post magazine – 27 March 2014
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.
Seventeen arrested in credit hire crackdown
Seventeen people suspected of credit hire fraud were arrested in raids across England on Wednesday morning.
Specialist MGA appoints Charles Taylor as service provider
Charles Taylor Insurance Services has been appointed to provide services to managing general agency Hunter George & Partners.