Property
Commercial Lines Fraud: Commercial stumbling block
With the fight against fraud in personal lines being increasingly successful, fraudsters are beginning to target the financially viable commercial sector
RK Harrison and Hyperion seal merger agreement
The long awaited merger between RK Harrison and Hyperion has been agreed between the two brokers.
MA Group launches high value property repairs service
Cipher UK, a new national property repairs service for insurers has been launched today (2 March) by the MA Group, specialising in complex and high value repairs up to £500,000.
Lloyds Bank GI profits hit by early 2014 storm claims
The impact of storm claims in the first quarter of 2014 and the continued run-off of legacy books resulted in Lloyds Banking Group posting a £41m drop in underlying profit for its general insurance business last year.
FM Global reports 79.4% COR for 2014
FM Global reported a combined ratio of 79.4% in 2014 alongside a 2% increase in net premiums to $3.6bn (£2.3bn).
Evans declares Axa five-year turnaround plan 'job done'
Axa UK and Ireland CEO Paul Evans has described the five year turnaround plan unveiled in 2011 as “job done” a year ahead of schedule.
Ace makes underwriting personnel changes in Australia
Ace has made several changes and promotions in its Australian underwriting team.
Axa tipped to make £300m bid for Pinnacle plot
Axa is poised to buy the site for what was intended to be London’s tallest skyscraper, according to reports.
Innovation report predicts shake up of property market by digital 'revolution'
Property claims handling and risk management in the UK is on the threshold of a technological revolution similar to that being experienced in the motor market, according to a report published today (19 February) by the Innovation Group.
Perils estimates January windstorm damage
Catastrophe insurance data provider Perils has estimated the insured property market loss for damaged caused by the Elon-Felix windstorm to stand at €328m (£242m).
Flood Re to drive household rates rise in 2015, claims L&G boss
The expense of complying with Flood Re will help drive single digit rate movement in the household market this year, according to Legal and General director of general insurance Mark Holweger.
C-Suite - Insurer: Offering true customer service
Companies sometimes forget that they need to fulfill a claimant’s needs rather than their own
Steadfast buys underwriting agencies and broker from QBE
Australian insurance group Steadfast has bought two underwriting agencies and a broker from Australian giant QBE for A$290m (£147m).
Ageas UK CEO Watson says 2014 results show insurer in ‘good shape'
Ageas UK saw a leap in net profit for the year ended 31 December 2014 to £94.7m from £85.2m in 2013.
Insurers must be ready for more business interruptions
The issue of a cyber-attack causing a business interruption is growing, delegates at the Advisen Cyber Risk conference in London were told today (10 February).
Home market failing to price for long-term weather risk
The home market remains significantly more profitable than its motor counterpart but insurers may be failing to price for long-term risk, market analysts fear.
Terrorism: Defusing the terrorism bomb
Despite recent terrorist attacks, the insurance market remains resilient, with losses in property damage and business interruption remaining low. However, what effect will the changes to Pool Re have?
China's Sunshine buys unopened New York hotel
Sunshine Insurance is set to pay $230m (£151m) for luxury New York property the Baccarat Hotel.
Reduced reserve releases impact Beazley profits
Beazley recorded an 18% reduction in profit after tax from $264m (£173.7m) in 2013 to $217.8m for the year ended 31 December 2014.
Allianz Commercial promotes Dixon as casualty boss Dee departs
Allianz Commercial’s head of property insurance Catherine Dixon has had her remit extended to cover property and casualty following the role departure of casualty boss Chris Dee.
Duff and Phelps to acquire American Appraisal
Global valuation and corporate finance advisor Duff & Phelps Corporation has agreed to acquire global full-service valuation and fixed asset management advisor American Appraisal.
Low cat losses sees XL record best COR in over 15 years
XL Group has chalked up its best property and casualty combined operating ratio in more than 15 years after benefiting from one of the lowest catastrophe years in recent times.
Anbang Insurance's New York Waldorf acquisition approved
Chinese insurer Anbang Insurance's $1.95bn (£1.3bn) proposed deal to buy the iconic New York hotel the Waldorf Astoria has been approved.
Australia's National Construction Code available for free
The Insurance Council of Australia has welcomed the availability for free of the National Construction Code.