Insurer
Drumm-owned business to pick up pieces following Eric withdrawal
Coast Underwriting is preparing to put an A-rated reinsurance programme in place to offset the fallout following the decision by the unrated European Risk Insurance Company to stop accepting new business, renewals or requests for coverage increases.
Keycare promotes three to associate director roles
The UK’s largest provider of insurance for lost and stolen keys has promoted three of its 35-strong team to the roles of associate director.
Amlin teams with Oxford Uni on modelling project
Amlin will today release the initial findings of a research project with Oxford University on fears of systemic dangers generated by the increasing prevalence of risk modelling.
Markel 2013 profits climb after Alterra acquisition
Markel has seen its 2013 profits improve by almost $30m after integrating Bermudian insurer and reinsurer Alterra.
European CFOs optimistic on profitability growth
European insurance chief financial officers are optimistic about increasing profitability, with a Moody’s survey finding nearly half of CFOs predicting their operating profit would grow between five and 10% in the next year.
QBE recruits from Allianz, AIG and Hiscox in tech drive
QBE has swooped for four new technology, media and telecommunications specialists, recruiting from Allianz, AIG and Hiscox.
UK floods tipped to cost industry close to £500m
PWC has estimated weather-related damage in December 2013 and January this year could cost the insurance industry up to £500m.
Allianz launches new healthcare plan for seafarers
Allianz Worldwide Care has unveiled a new healthcare product designed to provide care to seafarers in compliance with the Maritime Labour Convention.
Ace Global Markets increases environmental insurance capacity
Ace Global Markets is increasing its capacity for clients seeking environmental liability insurance coverage to $50m (£30m).
Education, education, education
Fraud is a major and growing issue. We've all heard the figures bandied around about how much this crime costs our industry, but the responsibility for tackling fraud does not lie at any one door.
Contractors urged to up security as theft claim value increases
Building trades insurer ECIC is urging contractors to increase security to protect their equipment after the claims value of tool theft increased by £2226 in the past year.
Positive market response leads LWI to pursue global growth
Energy loss adjuster Lloyd Warwick International is planning on opening new offices and recruiting “stars of the future” in a bid to support international growth.
UK pet insurance market expected to remain stable
The outlook for UK pet insurers remains positive over the next five years following a 35% increase in the market between 2008 to 2012, according to an insurance software provider.
Now Health launches Singapore operation
Health insurer Now Health International has opened a Singapore office partnering with Tenet Sompo as its underwriter in the region.
CFC annual pre-tax profits climb 27%
The UK’s largest specialist lines managing general agent has witnessed both its revenues and profits climb in figures issued this morning.
Aviva faces £323m bill for technical errors
Aviva is facing a compensation bill of up to £323m following technical errors that have resulted in underpayments over a number of years, according to reports.
Pre-tax profits at Catlin climb 27% in 2013
Catlin's pre-tax profits reached $432m in 2013 - up 27% from $339m the previous year.
Soft market in Asia to hit record, says Marsh
Commercial insurance rates in Asia are expected to reach historic lows this year, according to Marsh's 2014 Asia Insurance Market Report.
C-Suite: The Asia talent war
2013 was a year of ups and downs for both the industry and recruitment volumes. After a very slow start, the second half was significantly more active with some large scale organisation changes and movements, particularly at a very senior level, which…
Total Philippines insurance premiums grew 47% in 2013
The outlook is strong for insurers in the Philippines according to ratings agency Fitch, although the life sector is stronger than general insurance.
Axa’s Evans lauded for commitment to public interest at CII awards
Axa group chief executive Paul Evans was recognised with an achievement award for his work in championing the public interest at last night’s inaugural Chartered Insurance Institute Public Interest Awards.
Octo buyer to utilise telematics nous to penetrate Russian market
Renova Group is hoping to penetrate the Russian insurance market by tapping into telematics technology following its acquisition of Octo Telematics in a deal that is reported to be worth €408 million (£249m).
RSA mid-markets boss Wilkinson exits
RSA mid-market regions director Dan Wilkinson has left the insurer after just over a year in the job.
ABI kick-starts Flood Re CEO recruitment process with job ad
The Association of British Insurers has started its search for the chief executive of Flood Re and will be advertising the position in this week's Sunday Times.