Insurance news

• Tokio Marine Kiln and PICC to offer IP infringement cover

  29-10-2015 20:57
  Tokio Marine Kiln and Lloyd's have signed a memorandum of
  understanding with the P&C arm of PICC to provide intellectual
  property (IP) infringement liability insurance in China, it was
  announced today (29 October).
  Through the agreement, PICC's domestic clients will have
  access to enhanced IP infringement protection when operating
  overseas.
  Tokio Marine Kiln will provide underwriting expertise and
  product structuring support to the Chinese firm via Lloyd's
  China as part of a non-exclusive li
  
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• CNA Hardy adds to offshore energy team

  29-10-2015 20:57
  John Swann, senior underwriter at Zurich's offshore energy
  team, has resigned to take up an underwriting role at CNA Hardy,
  The Insurance Insider has learned.
  Swann will work with senior underwriter Clive Magnus at CNA
  Hardy to help build the company's offshore energy account.
  Magnus himself only joined the company in early October, having
  left his position as energy underwriter at XL Catlin, as previously
  revealed by this publication. Magnus was the second most senior
  upstream energy underwrite
  
  Read more

• Jelf shareholders approve £258m Marsh takeover

  29-10-2015 17:25
  
  Deal overwhelmingly approved
  
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• Swiss Re lifts P&C profits despite $250mn Tianjin loss

  29-10-2015 12:56
  Swiss Re estimated it will take a pre-tax loss of $250mn from
  the Tianjin port explosions, the reinsurance giant announced today
  (29 October).
  But the carrier's P&C division still reported an 18
  percent increase in net income from $842mn to $1.0bn for the third
  quarter of 2015, reflecting the absence of large natural
  catastrophe losses as well as the impact of reserve releases and
  strong investment results.
  The carrier's life and health segment also performed well,
  although profits were down
  
  Read more

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• Benchimol: Axis Re 'does not need an acquisition'

  29-10-2015 12:56
  Axis Capital CEO Albert Benchimol has insisted the company's
  reinsurance division does not need to make an acquisition to stay
  relevant in today's market.
  Speaking on a Q3 results conference call yesterday (28 October),
  the CEO said Axis Re already has the minimum scale needed to ensure
  the company attracts its fair share of business.
  "I actually believe we're ideally scaled in the
  reinsurance business," Benchimol said. While officially Axis
  Re is 14th largest reinsurer in the market, it actuall
  
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• Wilson: HomeServe win shows Aviva GI is on the ‘front foot’

  29-10-2015 12:24
  
  Chief executive says performance has ‘put to bed’ concerns about Friends Life deal
  
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• CII's 2016 New Generation Group launches

  29-10-2015 11:50
  
  James Verrinder Postonline The Chartered Insurance Institute's New Generation Group, class of 2016, met for the first time at a launch event held in London on 23 October.
  
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• MPs anger over FSCS fee collection reform failure

  29-10-2015 10:56
  
  MPs demand answers on how the Financial Services Compensation Scheme can change how it collects fees.
  
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• Aviva sees UK GI revenue drop in third quarter

  29-10-2015 10:36
  
  Provider’s UK & Ireland COR improves to 92.8% for the year to date.
  
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• Wilson hails UK organic growth dismissing likelihood of ‘jumbo' deals

  29-10-2015 10:35
  
  Katie Marriner Postonline Aviva group CEO Mark Wilson said the insurer will consider "build-out" acquisitions that complement its distribution model but is not considering any "jumbo" deals.
  
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• Blog: Lay executors of wills unaware of liability risks

  29-10-2015 10:30
  
  Guy Everington Postonline Increasingly people are being asked to take on the role of executor following the death of a friend or relative. In the past, it was common practice to name a solicitor or bank in a will as the main executor. But a Censuswide survey shows 75% of people are now placing their trust in family or friends.
  
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• IIG warns on asbestos legislation changes

  29-10-2015 10:20
  
  MGA predicts impact on brokers seeking contractors cover.
  
  Read more

• Broker Apprentice 2015: Emma Garrity

  29-10-2015 10:00
  
  Meet the fifth new apprentice ahead of next week's filming for the 2015 series.
  
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• Kent Police Commissioner 'may have driven without insurance'

  29-10-2015 09:51
  
  Ann Barnes may have committed an offence, says IPCC report
  
  Read more

• Aviva signs five-year partnership with Homeserve

  29-10-2015 09:28
  
  Katie Marriner Postonline Aviva has signed a five-year deal to underwrite home assistance products for Homeserve's two million UK customers.
  
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• Activist investor Icahn calls for AIG breakup

  29-10-2015 09:17
  
  AIG is ‘too big to succeed’ according to proxy battle veteran
  
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• Aviva UK & Ireland Q3 COR improves to 92.8%

  29-10-2015 08:35
  
  Katie Marriner Postonline Aviva UK & Ireland has reported an improved combined operating ratio for the first nine months of 2015 - 92.8% from 94.2% in the same period last year.
  
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• Aviva takes £300m HomeServe deal from AXA

  29-10-2015 08:30
  
  Five-year deal with home assistance firm said to be worth £300m a year GWP
  
  Read more

• Aviva joins forces with Homeserve

  29-10-2015 08:30
  
  Five-year deal with home assistance firm said to be worth £300m a year GWP
  
  Read more

• Exclusive: Hacked TalkTalk revealed to have cyber insurance

  29-10-2015 08:00
  
  Telecoms firm at centre of cyber attack is covered by insurance 
  
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• Thatcham joins motor anti cyber-crime body

  29-10-2015 07:30
  
  Aim is to develop common robust standards for combating connected car crime
  
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• Aviva UK & Ireland improves nine-month underwriting result

  29-10-2015 07:30
  
  UK net written premiums almost flat at £2.75bn after slight decline in Q3
  
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• Shareholder Icahn calls for AIG split

  29-10-2015 04:18
  
  Andrew Tjaardstra Postonline Activist shareholder US billionaire Carl Icahn has claimed AIG is "too big to succeed" and needs to be broken up.
  
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• United top line surges but underwriting deteriorates

  29-10-2015 02:15
  Florida-based United Insurance Holdings reported strong third
  quarter top line growth but a deteriorating combined ratio as cat
  losses hit the current period and developed adversely from earlier
  in the year.
  Gross written premiums climbed 48.5 percent to $156.0mn as the
  insurer highlighted record new business volume in each month and
  over $500mn in premium in force at the end of Q3.
  United president and CEO John Forney said organic growth and
  geographic diversification had been the dominating th
  
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• The Hanover sees 5.4% commercial rate increases

  29-10-2015 02:15
  The Hanover Insurance Group comfortably beat on Q3 earnings and
  pointed to continued steady price rises on its commercial and
  personal lines portfolio.
  In the insurer's domestic business, 5.4 percent increases in
  core commercial lines and 5 percent in personal lines painted a
  more favourable picture than some of the larger US bellwethers
  reported in recent weeks.
  But investor attention in the US insurer's earnings call
  tomorrow is also likely to focus on operational matters as the
  company addres
  
  Read more

• Arch beats despite falling Q3 profits

  29-10-2015 02:15
  Arch Capital Group reported operating income of $125.8mn for the
  third quarter, down marginally from $142.1mn during the same period
  last year.
  The result, which represented earnings of $1.01 per share,
  marked a beat on Wall Street's expectation of $0.94.
  "The beat compared to our estimate was due to
  lower-than-expected catastrophe losses, which was partially offset
  by lower-than-expected reserve releases and a higher tax
  rate," said Janney analyst, Ryan Byrnes.
  Net profits fell by more, from $2
  
  Read more

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