Insurer
DLG hits all four 2014 targets despite reduced motor profits
A £50.6m year-on-year reduction in operating profit from ongoing operations within Direct Line Group’s motor business was the main driver behind a marginal dip in the insurer’s group-wide operating profit for 2014.
TSC report expected to call for greater focus on telematics
The drive to improve road safety is in danger of running off course as a result of the government’s failure to introduce a strategic plan to exploit emerging technologies, a parliamentary report will warn this week.
MA Group launches high value property repairs service
Cipher UK, a new national property repairs service for insurers has been launched today (2 March) by the MA Group, specialising in complex and high value repairs up to £500,000.
IUA calls for innovative emerging risks cover
The board of the International Underwriting Association has discussed the challenges of providing cover for emerging risks at a recent meeting with risk managers association Airmic.
Hiscox UK and Europe delivers record profits in 2014
Hiscox chairman Robert Childs has heralded his firm’s “discipline” in underwriting and within its investment portfolio after posting a marginal reduction in group pre-tax profit for 2014 of £231.1m (FY 2013: £244.5m).
RSA disposals impacted by staff pension liabilities
RSA is reportedly turned-off the prospect of a break-up of the company due to large amounts of sale proceeds having to be allocated to staff retirement schemes.
Axa picks Applied to distribute online SME products
Axa Commercial Lines and Personal Intermediary has partnered with software provider Applied Systems to distribute its online SME products.
Laurent Josi starts as CEO Axa Asia
Jean-Louis Laurent Josi has started his role as CEO of Axa Asia in Hong Kong this week.
Webinar - The data difference: How analytics can help insurers maximise customer value
In a market as competitive as general insurance, it is imperative that companies have as accurate a view of their policyholders or prospective customers as possible.
Amlin profits hit by reduced reserve releases and investment return
A combination of condensed reserve releases and a dip in investment return last year has been blamed for a £67m fall in profit before tax at Amlin.
Randall & Quilter and Hiscox disagree on Synergy terms
The deal between Randall & Quilter and Hiscox over R&Q's managing general agent Synergy Insurance has fallen through after not agreeing "mutually acceptable terms".
Former AIG and MetLife CEO Benmosche passes away
Robert Benmosche, former CEO and president of AIG, has passed away at the age of 70 after suffering from lung cancer.
5 things we didn't know this time last week
It's been a busy week in the news with Towergate and Gallagher swapping staff and insurers puffing out their chests to reveal their results so you might be forgiven for missing other news that has happened this week.
Ambant to extend MGA offering following Heritage investment
Guernsey-based Heritage Group has acquired a 33% stake in managing general agent launch specialist Ambant Underwriting Services.
Prosight authorised to launch managing agency at Lloyd's
Prosight Specialty Insurance has received final authorisation from Lloyd’s, the Prudential Regulation Authority and the Financial Conduct Authority for its own Lloyd’s managing agent to manage Prosight’s Syndicate 1110 at Lloyd’s.
Laspo 'unwinding' will impact motor rates, claims Dye
The long-term success of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 could be in doubt, with signs showing an “unwinding” of the reforms designed to tackle motor claims inflation, according to Allianz UK CEO Jon Dye.
Lloyds Bank GI profits hit by early 2014 storm claims
The impact of storm claims in the first quarter of 2014 and the continued run-off of legacy books resulted in Lloyds Banking Group posting a £41m drop in underlying profit for its general insurance business last year.
NFU Mutual names Vizion as approved repair network manager
Rural insurer NFU Mutual has selected Vizion as its approved repairer network manager for the next three years.
Blog: Noise-induced hearing loss
Ian Hollingworth of ECIC looks at the reasons behind the recent explosion in deafness claims and asks how the industry should best respond.
Profits down at Allianz UK despite 12% increase in 2014 GWP
Allianz UK CEO Jon Dye has heralded his firm's 2014 results as being "well ahead of our expectation", despite seeing operating profit before tax fall and the retail business suffer an underwriting loss.
MGA Century opens Chelmsford office
Managing general agent Century Underwriting has opened a Chelmsford office alongside the transfer of its policy administration in house.
Cold-calling and claims regulation on taskforce agenda
Cold-calling and the regulation of the claims sector are two further areas to come under the microscope of the government fraud taskforce.
FM Global reports 79.4% COR for 2014
FM Global reported a combined ratio of 79.4% in 2014 alongside a 2% increase in net premiums to $3.6bn (£2.3bn).
Quindell review 'taking longer than originally anticipated'
Quindell has told investors that an independent review into its main accounting policies, certain strategic decisions and cash generation policies for 2015 is taking longer than originally thought.