Insurer
XL Group gets approval to buy back up to $1bn ordinary shares
The board of XL Group has approved a share buyback programme, allowing the company to purchase up to $1bn (£695m) of its ordinary shares.
Generali sees adverse market conditions impact results but COR improves
Market conditions hit Generali’s bottom line via its investments for the first quarter, with net profit down 13.8% (or €588m), but combined operating ratio improved to 92% from the previous quarter.
Marine insurer Skuld reports 95% COR but flat bottom line for 2015
Oslo-based Skuld has seen an improvement in its combined operating ratio to 95% (2014: 99%) but reported a flat bottom line result of $13m for 2015 (2014: $13.5m or £9.3m).
Geo-blocking changes in Europe could have ‘substantial impact’ on insurers
The Actuarial Association of Europe has called on the European Commission to consider the definition of justifiable geo-blocking, especially in the context of insurance.
Quiz of the week – 13 May
Test your knowledge of the week's insurance news, and Biba 2016, with the Post insurance quiz of the week.
Hiscox expects ‘manageable loss’ from Alberta wildfires
Hiscox expects a manageable loss as a result of claims arising from the Alberta wildfires, according to the insurer's interim management statement for the three months ending 31 March 2016.
Covent Bridge completes first UK acquisition
Investigation firm Covent Bridge Group has acquired Surrey-headquartered BDL Investigations, marking its first acquisition in the UK.
Manchester ghostbroker convicted after faking over 150 policies
A ghostbroker who set up more than 150 fraudulent motor policies with Aviva has been caught in Manchester and faces almost two years in jail.
Zurich UK GI 'back in the black’ despite GWP fall
Zurich’s UK General Insurance division reported an 11% fall in gross written premium in the first quarter.
Williams promoted at RSA to group underwriting director
Nathan Williams, chief underwriting officer - Scandinavia at RSA, has been promoted to group underwriting director at the UK-headquartered insurer.
Zurich returns to profit in Q1
Swiss-headquartered Zurich's after tax global profits fell 28% from $1.22bn (£845m) in the first quarter of 2015 to $875m (£607m) in Q1 2016.
Sport: High stakes for large events
Sports fans are about to enjoy two major events: the UEFA Euro in France and the Olympic Games in Brazil. As millions of people prepare to visit the host nations and crowd multiple venues, insurance has a crucial role to play.
Biba 2016: Brokers should look to industry disruptors to stay ahead
Insurers shouldn't be alone in tackling market disruption, it’s time for brokers to get in on the act, according to Axa Assistance.
Biba 2016: LV Broker gets chartered status
LV Broker has been awarded chartered status following formal presentation at Biba 2016 this afternoon (11 May).
Biba 2016: Biba ‘on track’ to develop flood insurance scheme for SMEs
A scheme to provide flood cover for most businesses should be launched by autumn this year, the British Insurance Brokers’ Association CEO Steve White announced today (11 May).
Biba 2016: Motor premiums rise but home rates fall in Q1
Private car premiums rose for the second quarter year, but rates for household insurance fell, according to the latest insurance price index from the British Insurance Brokers’ Association and Acturis.
Allianz's UK Q1 premiums fall as operating profits climb 43%
Allianz UK saw operating profits climb 43% in the first quarter of 2016 to £47.4m from £33.2m in the same quarter last year.
Allianz sees global profits and revenue fall in Q1
Global insurer Allianz's revenues and profits fell by 6.4% and 3.5% respectively in the first quarter of 2016.
Europe: Competition law - all over for Iber?
The Insurance Block Exemption Regulation is set to lapse on 31 March 2017, and the European Commission is not looking for a replacement. What will this mean for cooperation and competition?
Legal: Macro trends to hit casualty market
The London insurance district is plugged into so many global markets that macroeconomic issues on the other side of the world can translate into problems much closer to home.
Pet insurance aggregator to launch in May
A new pet aggregator site has been launched by Markerstudy, after it identified “a gap in the market”.
Average combined buildings and contents home policy remains unchanged in Q1
The cost of the average combined buildings and contents home insurance policy remained unchanged in the first quarter from the same period last year, according to the Association of British Insurer’s latest home insurance premium tracker.
RSA hires chief data officer
RSA has hired a chief data officer in order to develop a “new strategic capability” for the company.
Norway loses top spot to Switzerland in FM Global’s 2016 annual resilience index
Insurer FM Global’s 2016 survey into business supply chain resilience saw Norway drop to second behind Switzerland, making the central European nation most resilient to disruption according to the index.