Insurer
Shipowners commit to UK Club
The United Kingdom Mutual Steam Ship Assurance Association, better known as the UK P&I Club, has attracted over 3m gross tons of new tonnage, following the closure of renewal season on 20 February 2013.
Tokio Marine Europe recruits underwriters from QBE, RSA
Tokio Marine’s European operation has swooped to recruit two underwriters to bolster its UK team.
Brightside reaps benefits from One Insurance Solution rebrand
Brightside is already seeing benefits within its broking business since consolidating several of insurance products under the new One Insurance Solution brand less a fortnight ago.
Torrance praises Allianz "discipline" in commercial lines
Allianz has attributed its success in commercial lines to a “disciplined approach” in risk assessment and pricing.
Hiscox: UK downgrade could benefit shareholders
Hiscox chief executive Bronek Masojada has refused to panic over the loss of Moody’s AAA rating for the UK, saying the move may benefit shareholders.
Zurich warns firms to tackle rising levels of workplace stress
Stress levels, low morale and staff absence look set to continue to negatively impact the workplace unless the economic environment improves, Zurich has warned.
Allianz UK profit slides 4.3% to £161.5m
Allianz reported a 4.3% fall in operating profit to £161.5m in 2012 (2011: £168.7m). The insurer's combined ratio also deteriorated to 96.3% from 95.7% in 2011.
Hiscox profit soars to £217m
Hiscox has reported a pre-tax profit of £217.1m for the full-year 2012, dwarfing the 2011 result of £17.3m, and improving its group combined ratio by 14 percentage points to 85.5%. Gross written premium increased to £1.57bn (2011: £1.45bn).
Bluefin hires ex-Jelf pair for regional roles
Bluefin Insurance has announced a pair of regional appointments, Jim Pitchforth has been named development director in Birmingham, while Wendy Bushby has been hired as a commercial broker in Ludlow.
Ascot swings back to profit for 2012
AIG-backed Lloyd’s syndicate Ascot Underwriting has announced pre-tax profits of £93.3m.
Liberty Mutual subsidiaries to join RSA at the Walkie-Talkie
Liberty Syndicates and Liberty Mutual Insurance Europe have become the latest insurance operations to agree to let office space inside a soon-to-be completed London landmark known as the ‘Walkie-Talkie’.
Insurance Insight Q+A: Neil Raymond, Pacific Prime
Insurance Insight asks Neil Raymond (pictured), chief executive of Pacific Prime, about his predominantly PMI and motor broker, which trades as Kwiksure in Hong Kong, and how he wants to see insurers improve their service offering.
Cost of class action settlements in Australia doubles in five years
A rise in shareholder class actions are increasing premiums for directors' and officers' insurance in Australia, according to law firm King & Wood Mallesons.
Autorickshaw unions in India complain about insurance hike
The Insurance Regulatory and Development Authority in India wants to increase third party premiums for autorickshaw drivers annoying autorickshaw unions.
Bought by Many to unveil flood insurance solution
Insurance intermediary Bought by Many told Post it will be launching a solution for home insurance in flood risk areas in the next few weeks.
Aggregator influence grows as disposable income shrinks
The importance of aggregators as a distribution channel for European insurers is increasing as strapped consumers search for better deals, according to research by CP Consulting.
AIG income falls to $3.4bn in 2012
AIG's net income fell to $3.4bn (£2.23bn), or $2.04 per diluted share, in 2012 compared with $20.6bn, or $11.01 per diluted share, the year earlier.
RSA eyes wind farm opportunities after government gives greenlight
RSA has welcomed the government’s decision to approve the expansion of the Kentish Flats wind farm off the Kent coast.
One Answer Network snaps up Broker Drive
One Answer Network has acquired Broker Drive, in a deal which will see the network increase its membership base to well over 200.
Late notice means Marsh may miss Efra committee flood meeting
Marsh has confirmed it may have to pull out of a government select committee meeting on flood defence funding, leaving the Association of British Insurers and Aon Benfield as the insurance industry’s only representatives.
Sandy hit AIG reports $4bn Q4 loss
American International Group reported a net loss of $3.4bn for the full year 2012, following a net loss of $4bn for the fourth quarter.
Axa picks up Ecclesiastical’s mobile catering scheme
Slade Edwards Insurance Brokers has transferred its mobile catering insurance scheme to Axa commercial lines and personal intermediary.
Tempo pairs with W R Berkley on Commercial D&O
Tempo Underwriting has initiated plans to underwrite commercial directors’ and officers’ liability cover through a binding authority deal with W R Berkley.
Social media cover launched by Arc Legal amid growing online defamation concerns
Arc Legal has become the latest firm to respond to the challenges posed by online defamation via social networking sites such as Twitter, by launching a social media defamation cover.