Property
Ping An Group sees 9.4% growth in net profit
Ping An Insurance Company of China has maintained growth above the industry average amid complex economic and market environment for the first half of 2012.
Co-op goes for growth in household sector
Co-operative Insurance director of general insurance David Neave said the firm has written a higher volume of home insurance policies compared to motor policies this year so far in a bid to “redress the balance” within its personal lines portfolio.
Laptops and televisions top the bill for most fraudulently claimed items
Bogus claims for lost, stolen or damaged iPhones have risen by 100 fold over the past two years, according to VFM Services.
Brokers told to up game in face of HNW competition
Intermediaries operating in the high net worth arena have been warned they must concentrate on improving their bespoke offering to clients if they are to win out over growing competition in the high-end home insurance market.
Liberty Mutual receives CIRC approval to open Shandong branch
Liberty Mutual Insurance Group has been granted approval to establish a branch in Shandong province by the China Insurance Regulatory Commission.
XL makes dual reinsurance promotion
XL’s reinsurance operations has appointed Mark Berry and Paul Simons to senior vice president and managing director, international property & specialty and senior vice president, head of US property treaty, respectively.
Groupama to underwrite 10 000 free home insurance policies
Groupama is underwriting 10 000 home insurance policies for residents of a south east England housing association.
Saga bolsters home insurance product to cover students
Specialist insurer Saga has unveiled a new add-on product whereby policyholder parents can extend their home insurance to cover their children’s assets, saving almost £100.
Argent hands ex-Willis manager Scott business development role
Argent, a division of the Parabis Group, has recruited former global vacant property specialists VPS boss Chris Scott to the role of business development director.
Zurich boss hails 'strong' H1 results despite £19m flood loss
Zurich UK has admitted to losses of £19m as a result of the floods in the UK and Ireland during the first half of the year.
Indian commercial rates expected to rise 15% following nat cats
Indian businesses are likely to see premiums rise by 15% as insurers include flood risk in policies having suffered large losses after recent natural catastrophes, it has been reported.
BLG expands building insurance offering
Specialist broker Building and Land Guarantees has launched two further warranties for the construction industry under its Shield range.
Thai officials confident of securing reinsurance for £1bn flood fund to meet demand
The Thai Office of the Insurance Commission is to seek extra reinsurance from international players to meet demand for the state-owned natural catastrophe fund.
Haikui causes $230m of insured damage in China
Damage from Typhoon Haikui, which hit China last week, has been assessed at ¥1.046bn ($230m).
Cash settlements: Morally wrong?
The morality of cash payments to tradesmen came to the fore again last month, but what does it mean for the insurance industry? MA Assist's Paul Hayman talks to Post.
United India posts 21% rise in net profits
United India Insurance Co has posted 21% growth in net profit at Rs192 crore for the quarter ended 30 June 2012 (2011: Rs 159 crore).
XL group posts $397.8m interim profit
XL Group recorded profit of $397.8m for the first six months of 2012, after a $1.6m loss in the first half of 2011.
Swiss Re's Q2 results hit by sale of Admin Re at a loss
Swiss Re has reported net profit of $83m for the second quarter of 2012 as the result of the sale of the Admin Re US business at a loss of $1bn.
Swiss Re posts 91% drop in net income for Q2
Swiss Re's net income attributable to common shareholders fell by $877m to $83m (2011: $960m) in the second quarter of 2012 owing to a $1bn loss from the sale of the US business Admin Re.
Sluggish economy stifles rebuilding costs
The annual rise in the UK's index of house rebuilding costs is continuing to decline.
XL underwriting returns to profit
XL's property and casualty business has reported a rise in gross written premium in the first six months of the year to $4.08bn compared with $3.86bn in the same period in 2011.
L&G premium growth offset by weather losses
Legal & General's general insurance business has been hit hard by summer flooding and the freezing weather last winter, as profit in the first half of the year more than halved to £8m compared with the same period in 2011 (H1 2011: £17m).
Allianz suffers £23m weather claims loss but retail and commercial GWP grow
Allianz UK has posted bad weather claims costs of £23m for the first six months of 2012.
Online providers: Losing their lustre?
Why are some online providers proving to be a turn-off for potential consumers? Rebecca Jennings, principal consultant at Global Reviews, explains.