Insurer
Net combined ratio for motor insurance to rise to 104% this year
Motor premiums have risen to £13.9bn but the sector remains a loss-maker for many insurers, according to figures from Deloitte.
IBIS 2016: Days of human intervention in low value motor claims could be numbered
The use of technology will dramatically change the way motor claims are handled, delegates were told at the IBIS Global Summit 2016 in Barcelona on Tuesday.
Number of deafness claims falls after ‘unsustainable’ peak
The number of deafness claims tumbled sharply in the latter half of last year, reversing a growing trend that many viewed as unsustainable.
Vienna Insurance Group reports 97.8% COR but profits down
A low interest rate environment put pressure on the financials at Vienna Insurance Group, with profit before tax in Q1 2016 down 22.5% to €101.5m (£77.6m 3M 2015: €130.9m).
Chubb appoints Joe Fernandez to key role for Eurasia and Africa
Joe Fernandez will run financial lines underwriting strategies in Eurasia and Africa as the new financial lines product manager for the region.
Corporations ‘unlikely to support database on cyber attacks’
Establishing a database of cyber attacks on UK corporations for insurers to better assess risks, could be “fraught with practical challenges” experts have warned.
C-Suite Insurer: Lloyds Banking Group's Bill Cooper on securing better returns on investments
The current environment for insurers and brokers remains challenging as they continue to wrestle with the cost of regulatory change, shifting consumer habits and very low interest rates
ABI calls for cyber attack database
Insurers should have access to a national database of recorded cyber attacks in order to better provide cover, according to the Association of British Insurers.
Blog: Ignite cooperation over anti-theft technology
A wave of keyless car theft has reversed the trend of declining claims losses for insurers. To find a solution, the industry should look back to the 1990s
Blog: Why strong IT infrastructure is essential for digital transformation
The digital revolution has arrived in all industries - and insurance is no exception. In today's competitive market, firms need to recognise and understand that as digital technology continues to transform the economy, years of experience in the industry…
Axa quits investing in tobacco
Axa has announced it will stop investing in the tobacco industry where it invests more than €1.7bn (£1.3bn).
Brexit and results in the news; Tasker interviewed
The insurance news and Post exclusives of the past week, in case you missed it.
ABI appoints four industry ‘big-hitters’ to board
Senior figures from AIG, Zurich, Prudential and Scottish Widows have been appointed to the board of the Association of British Insurers.
LMG appoints Susan Jakobek as PPL MD
Susan Jakobek has been hired as managing director of Placing Platform Limited, a firm that manages the roll out of electronic placement in the London Market.
Quiz of the week - 20 May 2016
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Skuld to acquire Scandinavian Marine Agency
Skuld has signed a letter of intent to purchase Scandinavian Marine Agency in a deal that would give the Oslo-based marine insurer renewal rights on the latter’s hull and machinery book.
Brexit ‘could result in 48,000 insurance job losses’
Businesses could relocate “overnight” following a Brexit, putting up to 48,000 insurance jobs at risk, according to a report.
Research editor's comment: Why we're the know-it-alls
Not that long ago I was involved in a discussion about the future of the modern world and was rather astounded to hear myself speak knowledgeably on the various aspects of the topic, compared with the other participants.
Blog: Digital initiatives shouldn't always start with the customer
While attempts to modernise customer-facing technology is laudable, if back-office functions have not been updated it can counterproductive
Claims - Education: Learning lessons
Amid the backflips and shifts in government policy, education remains a competitive market for insurers, with specific challenges as austerity tightens budgets.
Research: State of the Risk Management Nation: Part Two: External influences
In the second part of the research, risk managers tell Michèle Bacchus their thoughts about regulation, brokers, and consolidation.
XL Catlin lead underwriter for crashed Egypt Air flight
Post has learned XL Catlin was the lead underwriter for the Egypt Air flight, now believed to have crashed into the Mediterranean.
Beale, Tulloch appointed to UN and World Bank Group-backed steering committee
Lloyd's CEO Inga Beale and Aviva global chairman Maurice Tulloch have been added to a committee guiding the United Nations and World Bank Group-backed Insurance Development Forum.
Charles Taylor Managing Agency appoints Ajay Gupta as CUO
Charles Taylor Managing Agency has appointed Ajay Gupta as chief underwriting officer and board director from Mitsui Sumitomo Insurance Underwriting.