Property
French fiscal policy "likely to be unfavourable" for insurers
The French government could raid insurance coffers over the next twelve months as it looks to reduce the public deficit, Moody's has warned.
DLG improves combined ratio to 99.2%
Direct Line Group has reported a 9.3% rise in operating profit for ongoing operations to £461.2m (2011: £421.9m) including an underwriting profit of £28.2m compared to a loss in 2011 of £72.3m and a combined operating ratio of 99.2% (2011: 101.8%).
Lorega selected by Gallagher Heath to fast-track property claims
Gallagher Heath has agreed to white-label Lorega’s range of loss recovery insurance products after unveiling the launch of Gallagher Heath Assist.
Rate hikes the only answer to CL market’s poor results
The dismal state of the UK commercial lines market can only be remedied by insurers inputting rate rises in 2013 and resisting their natural urge to compete on price, the heads of major firms have said.
Expertise in Action: Pricing: A Perfect Storm
The continuing economic downturn and prevalence of large losses make this a difficult period for the insurance industry – but the sector is demonstrating its resilience.
SSL Claims inks CIOB partnership deal
Northampton-based loss adjuster SSL Claims has become the first loss adjuster to become a member of the Chartered Institute of Building.
UIB recruits to bolster international property plans
United Insurance Brokers has swooped to recruit Thompson Heath & Bond’s Grant English as a London market broker.
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.
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.
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.
Industry urged to tackle root cause of fraud
The insurance industry needs to work harder at protecting consumers by addressing the root cause of fraud, according to Globaloptions international boss Bobby Gracey.
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.
Online exclusive: The development predicament
What impact will proposed legal changes to property development have on the insurance industry? Mark Heighton explains.
RSA's Brown: Commercial lines needs double-digit rate strength
RSA's chief executive of UK & Western Europe Adrian Brown has claimed the UK commercial market is "broadly underpriced by 10% to 15%".
Household fraudster profile revealed
The typical household fraudster is likely to be a first claimant, claiming under £500 for accidental damage to a technological device and aged between 31 and 50, according to a report.
Tesco Underwriting COR fails to drop below 100%
Tesco Underwriting’s combined operating ratio has remained above 100% despite seeing net profit rise in line with where it should be, according to Ageas chief executive Andy Watson.
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.