Insurer
Watson cautious on potential rate rise as Ageas suffers £20m flood loss
Ageas UK chief executive Andy Watson has poured cold water on expectations household rates will undergo an imminent rise in light of ongoing flooding, which has so far cost Ageas £20m.
Ex-Gallagher Heath client director Fulthorpe joins UK General
UK General has taken on former Gallagher Heath client director Peter Fulthorpe as commercial division sales manager in the Midlands, Wales and the South West.
Salaries rise 30% for insurance-focused compliance professionals
Compliance, risk and audit professionals working in the insurance sector will earn up to 30% more in 2014 as a result of a shift in regulatory expectations and evolving businesses strategies.
Competition Commission cuts £30m from credit hire cost estimates
The Competition Commission has admitted errors in its figures on the cost of credit hire, lowering its estimated impact on motor premiums.
Besso appoints Cooper Gay & Company's Hovey as CFO
Independent Lloyd’s broker Besso Insurance Group has appointed Samantha Hovey as chief financial officer.
Ageas profits creep up 3% in a year of rates pressure
Ageas delivered a marginal increase in net profits of £85.2m in 2013 (2012: £82.9m) alongside a combined operating ratio of 98.4% (2012: 99.8%) in a year of underwriting discipline amid pressure on rates.
Justice Secretary Grayling under pressure to close referral fee loopholes
Epoq’s Legal Go model singled out by Jack Straw as being against spirit of Laspo.
Motor insurance regulator mooted by Straw slammed as ‘unnecessary’
Former Home Secretary’s parliamentary counterpart Evans ‘dead against’ idea.
Tulloch’s flood defence funding plan fails to generate industry support
Analysts say insurers are unwilling to invest in defences without clear returns.
Insurers urged not to jump the gun in entering cosmetic interventions market
Industry warned over potential pitfalls of operating with inadequate expertise.
2014 a ‘critical year’ for insurers says ABI’s Evans
The insurance industry must continue to make its voice heard on issues such as the Competition Commission’s investigation into the private motor market and debate on whiplash reform, ahead of a “critical year” for insurers.
Motor Claims 2014: Davies calls for UK to utilise cross-border data sharing to stamp out European crime
Axa’s global chief fraud control officer Richard Davies has called for the UK to embrace cross-border data sharing in a bid to clamp down on crime across the continent.
Motor Claims 2014: Thatcham boss claims no driverless vehicles on road within next three years
Fully autonomous vehicles are unlikely to be on UK roads in the next three years, despite moves by government to invest in the emerging technology, according to Thatcham Research chief executive Peter Shaw.
C-Suite: Databases are key to increased profitability in Asia
Peter Orlay explains how contributory databases can play a key role in increasing profitability across the insurance chain in Asia.
Suncorp's profits fall 4.5% as claims rise
Australian insurer and banking group Suncorp saw a dip in its half year profits to A$548m (£296m) from A$574m in the corresponding period the previous year.
Post magazine – 20 February 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.
Editor's comment: Motor: A third way?
Motor has long been a special case in the world of insurance. It is a compulsory purchase that most customers hope to never use.
Insurers to supply experts to PM’s flood grant scheme
Insurers have agreed to supply a team of technical experts to work with the government on a scheme to provide grants to flooded home and business owners at today’s Downing Steet flooding summit.
FM Global names Essentra chief exec to board
FM Global has appointed the chief executive of an international plastics supplier to its board.
Penny Black's Insurance Week - 20 February 2014
Penny was most pleased to learn last week that rumours of the right honourable Jack Straw’s demise had been greatly exaggerated.
Career development: Axa's Evans lauded for commitment to public interest at CII awards
Axa group chief executive Paul Evans, pictured, was recognised with an achievement award for his work in championing the public interest at the inaugural Chartered Insurance Institute Public Interest Awards.
Market Moves - 20 February 2014
Stay abreast with who is moving where within the market with this week's Market Moves column.
Solicitors’ Professional Indemnity: Whipping up a storm
With the Jackson reforms and the ‘Plebgate’ debacle presenting solicitors with a host of new challenges, what impact has this all had on the solicitor’s professional indemnity market?
Kiln buys 49% of Lloyd’s cyber coverholder NAS
Kiln has purchased a 49% stake in NAS Insurance, one of the largest cyber producers in the Lloyd’s market.