Property
RSA's UK profit falls 37% as commercial losses take toll
RSA blamed adverse weather in the first half of 2012 and a weak marine and commercial liability performance on UK underwriting profit tumbling to £39m (2011: £62m) while the combined ratio was 98.2% (2011: 97.3%).
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.
Halifax warns of £32bn technology insurance black hole
More than one in 10 people do not have sufficient insurance for their technology devices, creating a £32bn insurance black hole, according to the Halifax.
Meteor damages 3000 Russian homes and businesses
Broken glass from the impact of a meteor has damaged more 3000 homes and businesses in Russia.
View from the top: Fighting our corner
The industry must draw more attention to its positive achievements in light of bad press, says Andy Watson, chief executive, Ageas UK.
House rebuilding costs rise by less than 1%
The increase in house rebuilding costs has fallen below 1% in the 4th quarter compared to the same period in 2011.
Assurant director joins competitor as MD
The Source has appointed Assurant Intermediary's former sales & marketing director Kevin Paterson as its new managing director.
French consumers least likely to go online for insurance purchases
Online comparison sites are the fastest growing distribution channel for motor and household insurance in Europe, according to Finaccord.
RSA releases home offering in China
In response to the growing popularity of home insurance in China, RSA’s private client insurance plan is now available through Globalsurance.
Catlin strategy results in growing non-UK GWP contribution in 2012
Catlin recorded a 12.6% improvement in its combined operating ratio for 2012, in a year in which 49% of the firm’s total annual gross written premium of $4.97bn (£3.16bn) was produced by non-London/UK hubs.
Improved commercial property returns in 2013 forecast by L&G
Legal & General Property director of research Rob Martin this morning forecast improved UK commercial property returns in 2013, with a continued polarisation between the best and worst opportunities.
Efra chair pushes alternative flood-risk proposal as SoP pressure mounts
The possibility of using a proportion of insurance premium tax to subsidise a pool of last resort for flood-prone homeowners has been championed by the chair of the Environment, Food and Rural Affairs Committee.
Torbjörn Magnusson elected VP of Insurance Europe
Torbjörn Magnusson, president and chief executive of If P&C Insurance, Sweden, has been elected vice-president of Insurance Europe.
Stackhouse Poland completes LFC acquisition
Stackhouse Poland has increased its gross written premium "closer to the £100m barrier" with the acquisition of the business of LFC Insurance Brokers.
AA predicts 2013 rise in home cover pricing
The AA has said that there has been little movement in home insurance pricing, but added that flooding and further extreme weather will likely see prices rise.
P&C insurers better placed than life firms to weather economic storm
Property and casualty insurers are better positioned to withstand a slow growth environment compared to life insurers, which will be more impacted by the weak global economy given they are mainly "discretionary" purchases and the low interest rates,…
L&G offers group discounts on premium
Legal & General has claimed to be the first major insurer in the UK to offer group discounts on home insurance.
Weak economy to hurt commercial lines more than personal, says Moody's
The outlook for property & casualty insurers is stable in 2013, despite macroeconomic conditions, Moody's said today.
L&G targets HNW customers with new home insurance product
Legal & General has followed up on its vow to expand the range of personal lines products it offers, by launching a bespoke product designed for customers in the mid and high net worth market.
View from the top: Pool solution a proven concept
For those of us living or working in the UK, one regular weather event is inevitable: lots of rain. So, most readers won’t take much convincing of the fact that, in 2012, Britain suffered its second-wettest year since records began in 1910.
View from the top: This eternal quest is fruitless
Commoditisation has become something of a holy grail in the insurance market over the past decade. The shift from competition based on product and service feature differentiation, as well as perceived value, to one of undifferentiated price comparison…
The importance of disaster restoration
Insurers in Asia are increasingly turning their attention to property restoration following natural disasters, spurred on by the possibility of huge cost savings, writes Nicky Burridge.
DAS targets fire and flood victims with Loss Assist product
Legal expenses insurer DAS is launching the latest version of its Loss Assist product to provide assistance for households that have suffered damage to property or contents.
Ace hires Achmea's P&C manager
Ace Group has hired Benoît Chasseguet as marine manager for Continental Europe, including the Central and Eastern European region.