Insurer
DAS UK appoints Percy as chief actuary
Legal expenses insurer, DAS UK, has appointed Richard Percy as chief actuary, with effect from 10 February 2014.
Haven joins Insurance Fraud Bureau
Gibraltar-based specialty motor insurer Haven has become the latest insurer to join the Insurance Fraud Bureau.
RSA partners with Caravan Guard on fifth wheel cover
Caravan Guard has responded to an increase in fifth wheel caravan enquiries by extending its portfolio to include the niche cover.
Skuld records 13% premium growth following P&I renewals
Skuld has achieved 13% premium growth following protection and indemnity renewals completed yesterday.
Business transformation bearing fruit as Axa UK GI COR dips below 100%
Axa UK and Ireland’s general insurance business recorded a combined operating ratio of 98.9% in 2013, despite reserve strengthening contributing 0.8 percentage points and a reduction in revenues to £3.7bn (2012: £3.8bn).
AIA's profits rise 16%
Hong Kong-based life and health insurer AIA has posted operating profit after tax up 16% to $2.5bn for 2013.
Generali Spain appoints Villa as CEO
Generali’s Spanish unit has named former Generali Seguros director general comercial Santiago Villa as its new chief executive.
Europe: The run-off legacy
The run-off market looks set to consolidate its position in Europe, a trend borne out by a Clyde & Co survey which found 60% of insurer respondents expect to complete a deal in Europe in the next 12 months.
VAT waiver for flood victims could be a boon for insurers
Insurers could see lower claims costs from the recent flooding if the government decides to apply a reduced rate of VAT to renovation and repairs for affected properties, according to accountancy firm Baker Tilly.
Axa inks £4m Saffron partnership
A new partnership between Axa and Saffron Insurance Brokers is expected to deliver over £4m in gross written premiums for 2014.
ABI responds to Which? insurance campaign
The Association of British Insurers has responded to a Which? reported urging insurers to be more transparent on pricing at renewal by stressing that price is not the only factor to consider.
LMA demands rapid Competition Commission progress
The Lloyd’s Market Association is pushing for speedy reforms from the Competition Commission’s investigation into motor insurance, suggesting the body circumvents legal change.
Axa completes 50% acquisition of Tian Ping
Axa has completed the 50% acquisition of Chinese insurer Tian Ping's shares.
L&G makes personal lines motor debut after partnering with Junction
Legal & General has entered the personal lines motor market with the launch of a direct motor insurance proposition underwritten by a panel of insurers.
Innovation Group report highlights motor market evolution
Insurers must do more to put the customer at the heart of motor insurance following a year of unprecedented reform, according to Innovation Group sales director Ian Bowen.
Euler Hermes extends partnership with HSBC in Malaysia
Euler Hermes has become the exclusive supplier of trade credit insurance products to HSBC Commercial Banking customers in Malaysia.
Which? urges insurers to be transparent on renewal prices
Consumer watchdog Which? has launched a new campaign calling on insurance companies to show last year’s premium alongside renewal quotes.
Allianz and Jelf renew engineering insurance arrangement
Jelf has reached a ‘preferred partner’ deal with Allianz Engineering that will see the insurer provide a new three-year facility for the majority of the broker’s engineering insurance and inspection business.
Watson cautious on potential rate rise as Ageas suffers £20m flood loss
Ageas UK chief executive Andy Watson has poured cold water on expectations household rates will undergo an imminent rise in light of ongoing flooding, which has so far cost Ageas £20m.
Ex-Gallagher Heath client director Fulthorpe joins UK General
UK General has taken on former Gallagher Heath client director Peter Fulthorpe as commercial division sales manager in the Midlands, Wales and the South West.
Salaries rise 30% for insurance-focused compliance professionals
Compliance, risk and audit professionals working in the insurance sector will earn up to 30% more in 2014 as a result of a shift in regulatory expectations and evolving businesses strategies.
Competition Commission cuts £30m from credit hire cost estimates
The Competition Commission has admitted errors in its figures on the cost of credit hire, lowering its estimated impact on motor premiums.
Besso appoints Cooper Gay & Company's Hovey as CFO
Independent Lloyd’s broker Besso Insurance Group has appointed Samantha Hovey as chief financial officer.
Ageas profits creep up 3% in a year of rates pressure
Ageas delivered a marginal increase in net profits of £85.2m in 2013 (2012: £82.9m) alongside a combined operating ratio of 98.4% (2012: 99.8%) in a year of underwriting discipline amid pressure on rates.