Insurer
Video: Allianz Commercial general manager Simon McGinn (Part Two)
In the second of two videos Allianz Commercial general manager, Simon McGinn discusses how his business plans to connect with brokers to help it achieve its objectives, and what concerns he has over renewed levels of consolidation among intermediaries.
Markel underwriting results hit by 'unfavourable' asbestos and environmental developments
Markel has reported H1 performance hit by $27.2m (£16.2m) of adverse development on asbestos and environmental exposures
Catlin's profits climb 118% in first half
Catlin recorded profit before tax of $318m in the first half of 2014.
Zurich UK off-sets £35m Q1 flood losses as attritional loss ratio improves
Zurich UK general insurance interim chief executive Dave Smith has heralded an improved attritional loss ratio as an instrument of off-setting £60m of flood losses and long-tail liability costs incurred in the first half of the year.
CNA Europe names Hardy boss Brosnan as CEO
Hardy chief executive Dave Brosnan has been promoted to a new role as CEO of CNA Europe, replacing John Hennessy.
RSA plays down redundancy speculation
RSA commercial managing director John Hancock downplayed suggestions of large scale job cuts at the insurer, despite news that it plans to cut 19% of its UK expense base.
Aviva eying turnaround on UK NWP
Aviva is seeking to reverse the shrinkage of its UK general insurance book after reporting tumbling net written premiums for the second successive quarter.
Video: Allianz Commercial general manager Simon McGinn (Part One)
In the first of two videos Allianz Commercial general manager, Simon McGinn discusses his businesses five year plan to be the largest insurer in its chosen market.
SRA's minimum terms change in doubt after LSB delays approval decision
The Solicitors Regulation Authority’s plan to cut the mandatory professional indemnity limit for solicitors in time for the October renewal season looks in doubt after the Legal Services Board extended the time-frame for making a decision on the change.
RSA cutting 19% of UK expense base
RSA plans to cut almost a fifth of its UK costs as it seeks to reach a target of £180m in savings globally, roughly 10% of its total costs.
Aviva posts UK COR of 94.3% for H1
Aviva's UK general insurance business recorded a 94.3% combined operating ratio in the first six months of 2014- its lowest in seven years- despite being hit by floods in the early part of the year.
Zurich unscathed by winter floods as UK H1 profits rise 9%
Zurich has trimmed three percentage points off its UK combined operating ratio over the past 12 months to 95% (H1 2013: 98%), while increasing business operating profit by 9% to £88m in the first half of 2014.
RSA returns to profit in H1 amid falling premiums
RSA chief executive Stephen Hester claimed the firm's strategic action plan was “ahead of schedule” as the group saw a return to profit for the first half of 2014.
Bank of England insurance director Adams heads to Pru
The Bank of England’s executive director of insurance supervision has been recruited by Prudential, where he will serve as group regulatory director.
Zurich's GI profit falls 59% in Asia-Pacific
Zurich's general insurance pre-tax profit in the Asia-Pacific region fell 59% in the first half of 2014 as it lost business in Australia and Hong Kong.
Zurich's global profit climbs 15% in first half
Zurich's profits are up 15% in the first half of 2014 compared to the same time last year.
Interview: Dylan Bryant, general representative, Lloyd's Hong Kong
Andrew Tjaardstra talks to Dylan Bryant, who has been tasked with heading up the Lloyd's representative office in Hong Kong.
FCA issues social media warning as it launches promotions consultation
The Financial Conduct Authority has launched a consultation intended to clarify its approach to the supervision of financial promotions in social media.
Demand for risk managers grows amid shifting regulatory environment
The looming implementation of Solvency II has contributed to a boom in demand for risk management specialists, according to recruitment consultancy Merje.
No further divestment plans for Ageas, Watson states
Ageas UK chief executive Andy Watson says there are no further planned divestments for the business following today's announcement of the sale of Ageas Protect.
FCA calls for claims ratios in final add-ons report face renewed criticism
The Financial Conduct Authority’s proposal to impose a requirement for insurance companies that engage in the sale of add-on products to publish claims ratios as a measure of value is expected to face continued criticism.
Bupa revenues up 7% in H1 despite 'low demand' for UK PMI
Bupa posted a 7% increase in revenues to £4.8bn in the first half of 2014 (16% at constant exchange rates), as it continued to integrate major acquisitions made in the previous year.
Post magazine – 7/14 August 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.
L&G GI profits slump in H1 as attention turns to bolt-on acquisitions
Legal & General has attributed weather claims totalling £12m in the first quarter of 2014 for a slump in the general insurance division’s operating profit to £28m in the first half of the year (H1 2013: £39m).