Insurer
EU probing Setanta collapse
The European Union is to investigate the collapse of Irish motor insurer Setanta, which moved to immediately dissolve itself last week.
Quindell launches suit on ‘defamatory’ note
Quindell has begun legal proceedings over an allegedly defamatory research note issued by Gotham City Research earlier this week.
Aqua hires Brown to lead commercial product development
Scott Brown has joined the commercial division at Aqua Underwriting as executive director.
Gherkin building falls into receivership
London’s Gherkin building, home to Swiss Re, has fallen into receivership after five years of defaults.
RSA axing UK professional indemnity covers from May
RSA is to take an axe to its UK professional indemnity book, withdrawing from excess of loss cover, as well as products for architects, design and construction, and survey and valuation.
Aviva appoints Lovely as claims director
Aviva has appointed David Lovely as its claims director, reporting to Maurice Tulloch, chief executive for UK and Ireland general insurance.
Europe: Ghost vessels
With the Russian cruise vessel M/V Orlova adrift in the Atlantic, the insurance implications of 'ghost vessels' are front of mind
Aspen spends $3m to spurn Endurance advances
Aspen’s defence against a takeover attempt by Endurance has cost the business $3m (£1.78m), the firm has revealed.
Video: Implementing a digital strategy
Insurers are being encouraged to embrace the new era of digitalisation and big data, but one crucial obstacle is often forgotten: legacy systems, and the impact they can have on the speed of transformation.
Axa recruits five to Newcastle branch in full underwriting launch
Axa has recruited five new underwriting staff for its Newcastle office as it seeks to move the branch to a full underwriting operation.
Saga eyeing £3bn float for next week, states report
Acromas-owned insurer Saga is plotting to enter the UK stock market as soon as next week according to reports.
AIG launches oil and gas product for ASEAN region
AIG is providing an 'OSCAR' insurance policy for oil and gas service contractors in the ASEAN region.
Turkey in general insurance turnaround, says Fitch
The Turkish general insurance market made a profit of $357m (€260m) in 2013 after four years of poor results.
Zurich property boss Leslie joins Tokio Marine Europe as CUO
Tokio Marine Europe has appointed Zurich’s head of property lines for global corporate business Peter Leslie as chief underwriting officer.
Aviva uncovers 19% rise in fraud in 2013
British insurer Aviva detected over £110m worth of insurance fraud in 2013 – a 19% increase compared with 2012.
73% of brokers say regulation hitting customer service
Almost three quarters of intermediaries have warned that the weight of regulation is damaging insurers' customer service, in a survey conducted by EDM Group, Post can reveal.
Covéa posts £15m profit for 2013 but sees GWP shrink 17%
Covéa Insurance posted a technical account profit of £15m for 2013, its first full year results since the merger of the MMA Insurance, Provident Insurance and Gateway Insurance businesses.
Money Supermarket insurance prospects boosted by Google deal
Money Supermarket has said that it expects insurance comparison revenue to improve after resolving a dispute with Google on search listings.
Interconnected cyber risks could cause global crisis
Organisations must improve their response to cyber risks if they are to avoid a global shock similar to the 2008 financial crisis, insurer Zurich has warned.
Endurance slams 'entrenched' Aspen board after 'poison pill' rights plan
Endurance’s chief financial officer Michael McGuire has accused Aspen’s management of being “entrenched” and “not aligned with shareholder interests” after the firm continued to ward off its attempted takeover.
R&Q: active syndicate will hinder 2014 results
Randall and Quilter chief executive Ken Randall has told Post he does not expect to see the firm’s active syndicate boosting figures until 2015.
Liberty Specialty appoints Beechey in Asia financial risk role
Liberty Specialty Markets, in conjunction with Liberty International Underwriters Asia-Pacific, has appointed Andrew Beechey as head of global financial risks, Asia-Pacific.
R&Q pre-tax profits down 17% after ‘weak’ active syndicate results
Randall and Quilter has seen its pre-tax profits slide by almost a fifth, falling from £11.6m to £9.6m after the firm recorded weaker than expected results from active syndicate participations.
Esure & Endsleigh slammed on small print
Two Esure brands and Zurich-owned Endsleigh have been condemned by a consumer campaign group for “incomprehensible” terms and conditions in car insurance policies.