Insurer
Ageas reports £82.9m profit as income exceeds £2bn
Ageas UK has increased profit by 11% to £82.9m in 2012 compared to the 2011 figure of £74.7m and a combined ratio of 99.8% (2011: 99.9%)
RSA increases premium by 5% and cuts dividend
RSA Group has reported operating profit of £684m (2011: £727m) for 2012 including an entirely flat underwriting result of £375m.
Northdoor launches cloud platform for Asian start-ups
UK-based IT consultancy Northdoor has launched a cloud-based system for insurance start-ups in Asia.
China readies for first online insurer
The Chinese Insurance Regulatory Commission is set to approve the first internet only insurer which will be owned by nine shareholders including internet firm Alibaba and insurer Ping An.
Utley settles on Lloyd’s Equity charges
Former Equity chief executive Neil Utley has been barred from applying for Lloyd's director positions for two years under terms agreed in a settlement on charges of detrimental conduct.
China allows insurers to sell mutual funds
Chinese insurers will be allowed to sell mutual funds to the public as regulators look to increase the role of institutional investors in its capital markets.
Equity adds Dacia to partnerships roster
Equity’s affinity arm has struck a three year deal to offer insurance to purchases of all new Dacia cars.
Autoglass calls for windscreen standards after fears insurers are cutting corners
Insurers may be awarding windscreen replacement jobs to technicians who lack the proper skills or use inferior materials in order to cut costs, according to Autoglass.
Russian meteor explosion 30x more powerful than Hiroshima bomb
The explosion of a meteor above the Urals in Russia generated a force 30 times greater than the Hiroshima nuclear bomb, according to the European Space Agency.
Hood Group aims to shake up affinity market with new launch
The Hood Group has launched an insurance platform, Protect My World, offering white label home insurance as a part of the group’s affinity solution.
Ambridge: Use of transactional cover set to surge
The number of transactional insurance policies could increase by as much as 25% during 2013, underwriter Ambridge has claimed.
Axa recruits Bupa HR boss
Bupa's former human resources director has joined Axa Insurance to take on the same role within its direct & partnerships business.
Co-op criticises subrogated model
Co-operative Insurance Services has criticised the subrogated claims model used by RSA, despite having a bilateral agreement with the insurer in place since last July (www.postonline.co.uk/2188179).
Citroen becomes first car manufacturer to fit 'black box' technology as standard
Citroen has become the first car manufacturer to fit telematics technology as standard in a bid to make new car ownership “more affordable” for young drivers.
Covéa looks to extend commercial lines growth following schemes hire
Covéa Insurance has appointed former Hiscox regional manager Bill Guiney as schemes account manager.
Hiscox launches private client offering
Hiscox has launched a new private client agency, which will operate as a wholly-owned tied agency offering the insurer’s products.
More than 'token gesture' required for mis-selling insurers, claims Biba
The British Insurance Brokers’ Association has responded to the latest Financial Services Authority’s funding consultation by calling for insurers to be re-introduced to cross subsidies in more than a token way in the Financial Services Compensation…
Midas launches non-standard personal motor products
Midas Underwriting has lifted the curtain on two new non-standard personal motor products aimed as performance cars and classic sports cars.
Axa Assistance and the Co-operative strike motor breakdown deal
Axa Assistance and the Co-operative Insurance have signed a new deal extending their motor breakdown and accident assistance scheme, on their 25th trading anniversary.
Claims Awards 2013: Do not miss out, start your entry today
There is just under two weeks to go until the deadline for the 2013 Claims Awards (Friday 1 March), so do not waste any time if you want to be considered for these prestigious accolades.
Clements grows European footprint with Italsure acquisition
Insurance service provider Clements Worldwide has acquired UK-based expat insurer Italsure.
Crash for cash killers to serve 32-year jail-term as "stark warning"
The legal team appointed by the insurer of a female motorist who became the UK’s first crash for cash fatality is hopeful that the lengthy custodial sentence handed down to those responsible will serve as a “stark warning”.
AIG acquires remaining stake in Israeli JV
American International Group has reached an agreement with Aurec Gold Investments to acquire the remaining 49.99% interest in AIG Israel Insurance Company.