Insurance news

• Brokers and insurers welcome Insurance Bill’s passage into law

  12-02-2015 18:19
  Biba praises re-introduction of clause 11 into final version of new act
  
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• Europe: Q&A with Guenter Droese, chairman of European Captive Insurance and Reinsurance Owners` Association

  12-02-2015 18:07
  
  Walter Minnik Postonline
  
  
  Post speaks to Guenter Droese about the captive market and the potential impact of Solvency II
  
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• Zurich UK CEO optimistic about personal lines

  12-02-2015 15:56 via insuranceage.co.uk
  
  Dave Smith says rise in GWP due to growth in personal lines.
  
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• Brightside Group hires Tony Coram as COO

  12-02-2015 15:23
  
  Coram joins the broker after spending 25 years at RSA.
  
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• Andy Watson: Some competitors are cutting motor rates

  12-02-2015 14:53
  Ageas UK chief executive not confident that pricing will improve despite optimism elsewhere
  
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• Industry should not ‘bank’ on weather benefits says Zurich’s Smith

  12-02-2015 14:35
  
  Francesca Nyman Postonline
  
  
  Several years of benign weather are likely to increase pressure on home and buildings pricing according to UK GI CEO Dave Smith who has warned peers not ‘bank’ on the benefit of below average catastrophe activity.
  
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• Next two quarters will tell if signs of improvement in motor are 'false dawn' says Ageas UK CEO

  12-02-2015 14:03
  
  James Verrinder Postonline
  
  
  Ageas UK CEO Andy Watson has predicted this year could see an improvement in the motor market as fuel prices mean drivers take to the road more frequently but says the next two quarters will tell.
  
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• Ifed boss DCI Rogers promises equal treatment in fight against fraud

  12-02-2015 14:02
  
  Callum Brodie Postonline
  
  
  Detective Chief Inspector Angie Rogers has vowed to work with members of the insurance industry on preventative measures to tackle escalating fraud having taken over the reins of the Insurance Fraud Enforcement Department.
  
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• Brokers welcome changes to 100-year old legislation as Insurance Bill gains Royal Assent

  12-02-2015 14:01
  
  Stephanie Denton Postonline
  
  
  The British Insurance Brokers’ Association has welcomed the Insurance Act, which has today received Royal Assent.
  
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• Axa considers premium transparency for direct commercial customers

  12-02-2015 13:00
  Stephanie Denton Postonline
  
  
  Axa is considering informing its direct commercial customers of their previously charged premiums as it reveals it will start to do so for some of its personal lines customers this month.
  
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• Growth returning for Ageas’ retail businesses, claims Watson

  12-02-2015 12:43
  Insurer says it is one year into three-year simplification and growth plan.
  
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• Growth returning for Ageas’ retail businesses, says Watson

  12-02-2015 12:43 via insuranceage.co.uk
  
  Insurer says it is one year into three-year simplification and growth plan.
  
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• Acturis launches account management team

  12-02-2015 12:08
  
  Software provider appoints two new account managers.
  
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• Brightside’s retail broking and affinities heads leave in shake-up

  12-02-2015 12:00
  AnaCap-owned broker hires RSA veteran Tony Coram as chief operating officer
  
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• Blog: How many men does it take to fix a kitchen? Part 2

  12-02-2015 12:00
  
  Stephanie Denton Postonline
  
  
  The latest installment in Post editor Stephanie Denton's leaky kitchen saga is here - and things are not looking good...
  
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• Hill Dickinson fraud team hails dismissal of £150K bogus Europcar claim

  12-02-2015 11:53
  
  Francesca Nyman Postonline
  
  
  Hill Dickinson counter-fraud group and car hire service Europcar have successfully exposed a crash for cash scam involving claims management company director, Mark Richardson of ‘Richardsons’.
  
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• Intelligence sharing agreement between IFB and police to target criminal gangs is renewed

  12-02-2015 11:40
  
  Stephanie Denton Postonline
  
  
  An agreement between the Insurance Fraud Bureau and the Association of Chief Police Officers to share intelligence on organised criminal gangs between the insurance industry and the police has been reviewed and renewed due to its ongoing success.
  
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• Zurich UK profit up 19.5% to £171m in 2014

  12-02-2015 11:26
  
  GWP rose by 2.2% to £1.71bn last year.
  
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• Plum swoops for DLG underwriter

  12-02-2015 11:14
  
  Francesca Nyman Postonline
  
  
  Household MGA Plum Underwriting has appointed Nicky Whatman as a senior underwriter to its London high net worth team.
  
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• Profits up at Ageas in 2014

  12-02-2015 10:54 via insuranceage.co.uk
  
  Insurer’s COR slips to 99.8%.
  
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• Zurich UK’s Dave Smith hails return to growth in 2014

  12-02-2015 10:48
  General insurance business grows 2.2% after years of personal lines cutbacks
  
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• Markel's 2014 operating revenues surpass £3.2bn

  12-02-2015 10:01
  
  Katie Marriner Postonline
  
  
  Markel achieved an improved combined operating ratio of 95% for the year ended 31 December 2014 from 97% the year prior.
  
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• Markel reports 14% profit increase

  12-02-2015 10:00
  
  Insurer's COR at 95% and reports encouraging growth in UK retail operations.
  
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• Zurich UK’s combined ratio drops to 95.5% in 2014

  12-02-2015 09:46
  UK general insurance operating profit increases 26%, group results show
  
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• Helios acquires Lloyd's vehicle Nameco

  12-02-2015 09:42
  
  Katie Marriner Postonline
  
  
  Helios Underwriting has acquired Lloyd's limited liability member Nameco for £800,000 in cash.
  
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• Zurich CEO "not satisfied" with group 2014 results

  12-02-2015 09:25
  
  Andrew Tjaardstra Postonline
  
  
  Zurich's pre-tax profit fell 1% last year to $4.64bn (£3.04bn) compared to $4.68bn in 2013.
  
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• Lancashire reports 33.5% jump in 2014 GWP

  12-02-2015 09:23
  
  Katie Marriner Postonline
  
  
  Lancashire Holdings has reported a 33.5% boost in gross written premiums for the year ended 31 December 2014 to $907.6m (£595m) from $679.7m in 2013.
  
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• Flood Re appoints Capita as managing agent

  12-02-2015 09:23
  Outsourcer wins five-year contract from flood insurance scheme
  
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• Ageas UK profit rises 11% thanks to life business sale

  12-02-2015 09:07
  Sale gains and legal settlement proceeds mask lower profit in insurance and retail divisions
  
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• Capita named as Flood Re managing agent

  12-02-2015 08:46
  
  Katie Marriner Postonline
  
  
  Capita has been appointed Flood Re's managing agent for a five-year term.
  
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• Ageas UK CEO Watson says 2014 results show insurer in ‘good shape'

  12-02-2015 08:36
  
  Katie Marriner Postonline
  
  
  Ageas UK saw a leap in net profit for the year ended 31 December 2014 to £94.7m from £85.2m in 2013.
  
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• Zurich's Asia-Pacific chairman Riddell to retire

  12-02-2015 08:36
  
  Andrew Tjaardstra Postonline
  
  
  Geoff Riddell, Zurich's Asia-Pacific chairman, will retire from the insurer after he manages a transition period for his successor.
  
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• Zurich's UK profits climbed 26% in 2014

  12-02-2015 08:15
  
  Andrew Tjaardstra Postonline
  
  
  Zurich's UK pre-tax general insurance profits climbed 26% to £185m last year from £147m (based on today's dollar exchange rate) in 2013.
  
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• Zurich's UK profits climbed 19.5% in 2014

  12-02-2015 08:15
  
  Andrew Tjaardstra Postonline
  
  
  Zurich's UK pre-tax general insurance profits climbed 19.5% to £171m last year from £143m in 2013.
  
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• ‘Admin’ fees must be more than just a box-ticking exercise

  12-02-2015 07:58
  
  I changed my mind about an insurance quote but was told I had to pay £60 to cancelI received an email from an insurance broker claiming it could find me good home and contents insurance. I phoned in my credit card details and signed various forms that were emailed. Three days later – and three days before the policy was due to start – I found a cheaper deal, so I called to cancel. I was told that I could do so only if I paid £60 in broker’s cancellation fees. It seems these fees are
  
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• NCI reveals plan behind new non-standard motor scheme

  12-02-2015 07:30
  Scheme to be rolled out in March forms part of group plans to reduce dependency on standard motor
  
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• Hedge fund Tosca sells 2.2 million Quindell shares

  12-02-2015 07:30
  Investor makes £1.56m from sale as stake drops back below 5%
  
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• Elite teams up with broker to launch insolvency ATE product

  12-02-2015 07:30
  Legal expenses policy only available until 1 April Laspo deadline
  
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• Biba and Thatcham team up to create telematics data guidelines

  12-02-2015 07:28
  Guidelines are expected to increase growth of telematics policies in the UK
  
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• Ace enhances premises pollution cover for Australia and New Zealand

  12-02-2015 04:38
  
  Andrew Tjaardstra Postonline
  
  
  Insurer Ace has enhanced its premises pollution liability policy for Australia and New Zealand.
  
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