Rory O’Connor, former executive director and chief financial officer of RSA Ireland Insurance, has been fined €70,000 and disqualified for eight years and four months by the Central Bank of Ireland.
Reserving has been reiterated as a key area of focus for the Prudential Regulation Authority, as the regulator suggested it could use its “formal powers” if insurance firms fail to meet standards.
Aviva’s UK general insurance business delivered an operating profit of £172m for the first half of 2019, though the result excludes the £45m expense of strengthening reserves following last month’s discount rate decision.
Jonathan Swift reflects on the turnaround at ERS and why Aquiline might have decided to wait to sell the motor insuer
With Brexit, increased scrutiny over reserves, climate change and emerging risks on the ‘watch’ list for 2019 The Prudential Regulation Authority certainly has a lot on its plate. Its executive director for insurance, David Rule spoke to Stephanie Denton…
Regulation might have helped to speed up the evolution of risk modelling but technology advances, especially cloud computing, are now taking this development to the next level. Edward Murray explores the benefits this is bringing and how insurance…
Despite the large amounts of money associated with booking and kitting out for winter sports holidays, there will still be skiers and snowboarders heading overseas this winter with inappropriate cover. What are insurers doing to prevent policyholders…
Alpha Insurance has placed itself into solvent liquidation as a “direct consequence” of the failure of CBL Insurance.
Insurers consider the impact of the proposed U-turn on the Ogden rate
Market conditions for European insurers are extremely challenging, with companies facing a wide range of difficulties. Some have had to restructure their books of business because of poor results in the past, although their ability to turn around…
AIG expects to record a $100m (£77.9m) hit to its Q1 2017 pre-tax profits as a result of the cut to the Ogden discount rate.
More insurers have posted swingeing losses as a result of the discount rate cut.
Insurers have been urged to prepare a late payment strategy now, after an insurance barrister warned the late payment clause, due to be introduced with the Enterprise Bill, will add additional pressures in suspected fraud cases.
A ruling by the Supreme Court looks set to add to insurers' difficulties in calculating what constitutes the appropriate lump sum to set aside for serious personal injury cases.
Direct Line Group CEO Paul Geddes says the insurer should "claim some credit" for its reserve releasing in the first half of 2015, which demonstrated a shift from its usually conservative reserving stance.
The drop in Gable Holdings' share price following the release of its 2014 annual results statement does not concern CEO William Dewsall who is targeting at least £100m gross written premiums for 2015.
Next year has been billed as the beginning of a trend in rising motor premiums by advisory firm EY, yet a predicted average 2% rise in 2015 will be below the rate of claims inflation.
The Prudential Regulation Authority has written to insurers in a bid to ensure firms are focused on sustainability after identifying an increase in reserve releasing in recent years.
UK insurers hoping to see improvements in the periodical payment order regime should carefully monitor a review of PPOs taking place in the Republic of Ireland, according to BLM partner Joe Wakeford.
It is fitting that in the week where David Moyes credentials as Manchester United manager are being sorely questioned following a run of home league defeats, Simon Lee has resigned as group chief executive of RSA.
Swiss Re has seen its property and casualty operating income almost halved in 2011 to US$1.28bn (US$2.47bn).
There is no clear evidence of under-reserving at RSA, according to analyst Jefferies despite the fact in Scandinavian this remains inherently volatile.
Axa has denied its need to top-up motor claims reserves for the last five years is because of its acquisition of Swiftcover, blaming instead high claims costs.
Hiscox has estimated net claims arising from the April and May tornadoes in the US to be approximately £35m based on insured market losses of $15bn-$25bn.