Property
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.
Home insurance premiums sliding from stability says ABI
The latest figures from the Association of British Insurers’ premium tracker show that premiums for home insurance have begun to decline after previously showing signs of stability.
JLT's Cooper joins Lockton for Australia property role
Lockton has appointed Stephen Cooper as head of its real estate and construction team.
Sentimental items most valued by burglary victims
Six out of ten burglary victims don't ever feel secure in their homes again, according to research by UIA Insurance.
Ping An buys Marsh's UK head office building
Chinese insurer Ping An has bought office and shopping complex Tower Place in the City of London for £327m.
Mobius Underwriting hires underwriter from Allianz
Adam Thackeray has joined Lloyd's coverholder Mobius Underwriting Australasia.
Biba plotting commercial solution for properties excluded by Flood Re
Organisations representing properties excluded from Flood Re remain committed to fighting for the scheme to widen its scope, despite plans by the British Insurance Brokers' Association to provide a commercial solution for excluded parties.
Century targets 20% GWP growth and product expansion in 2015
Commercial motor managing general agent Century Underwriting is eyeing a further 20% gross written premium growth in 2015 after chalking up £15m of GWP during the previous 12 months.
AA index records static home and motor premiums
The average quote for a combined home buildings and contents policy has remained static over the past three months while an average quoted motor premium rose £1, according to the AA's British Insurance Premium Index.