Insurance news - NewsLocker

Guidewire relaunches broker portal

04-11-2015 20:11

Software provider says portal designed “for the way brokers like to do business”.

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Guidewire adapts broker portal

04-11-2015 20:11

Software provider says portal designed “for the way brokers like to do business”.

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Mapfre grows reinsurance premium at Q3

04-11-2015 19:26

Spanish carrier Mapfre today (4 November) reported a 6.5 percent
increase in nine-month gross written premium (GWP) at its P&C
reinsurance arm, at EUR2.47bn ($3.01bn).
Mapfre Re's non-life division reported an underwriting
result of EUR61.5mn in the nine months to 30 September, a 19.9
percent increase on the previous year.
The unit's combined ratio stood at 95.6 percent, compared to
95.7 percent in the year-ago period.
Including Mapfre Re's life business, the division reported a
6.9 percent

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Matthew Reed to leave Axa

04-11-2015 18:42

Reed joined as MD of intermediary and direct in 2011, but moved to global role in June 2014.

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Specialist Lines - watch videos on-demand now

04-11-2015 17:30

Don't miss a thing as the team covers Insurance Age's first ever virtual summit.

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Specialist Lines - watch live now

04-11-2015 17:30

Don't miss a thing as the team covers Insurance Age's first ever virtual summit.

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Live blog: Specialist Lines - a virtual event

04-11-2015 17:30

Don't miss a thing as the team covers Insurance Age's first ever virtual summit.

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IFB consults on expanding membership to third party providers

04-11-2015 17:19

IFB fraud data sharing could extend beyond insurers to supply chain

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Post magazine - 5 November 2015

04-11-2015 17:13

Cecile Brisson Postonline The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS app edition on the App Store or read the Post digital edition online.

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The Zurich Insurance Masters: Best of the broker golfers come to the fore

04-11-2015 17:06

The golfing glitterati of the insurance world gathered at the idyllic setting of The Grove in Hertfordshire last month for the final of The Zurich Insurance Masters.

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IFB launches affiliate membership consultation

04-11-2015 16:50

James Verrinder Postonline The Insurance Fraud Bureau has taken a step towards extending its services to defendant lawyers, private investigators and other industry suppliers, by launching a consultation on affiliate membership.

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AIG shares slump 4.4% amid 'ugly' results

04-11-2015 16:05

Shares down, profits slump, job cuts and battle with unhappy billionaire investor on the menu for AIG

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Market moves: New for old

04-11-2015 14:59

It has been another busy period for brokers and insurers, with many swapping their old jobs for new ones.

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AIG planning to axe 400 senior executives

04-11-2015 14:46

James Verrinder Postonline AIG is planning to cut up to 400 senior staff in the US after posting a $231m (£149m) loss for the third quarter of 2015.

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Scor continues double-digit top-line growth

04-11-2015 14:43

Scor's global P&C division today (4 November) reported that
gross written premium (GWP) grew by 18.4 percent to EUR4.36bn in
the first nine months of 2015.
At constant exchange rates, the GWP growth figure would have
been 5.9 percent.
In the third quarter alone, GWP grew by 17 percent to EUR1.50bn,
with the P&C unit posting a combined ratio of 90.6 percent -
2.2 percentage points lower than the same period a year ago.
The reinsurer's non-life segment also reported...

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Hannover Re boosts P&C profit despite Tianjin loss

04-11-2015 14:43

Hannover Re's P&C division lifted its third quarter
operating profits by 8.2 percent year-on-year to EUR352.6mn, as the
carrier reported a net EUR95.9mn of losses from the Tianjin port
explosion.
But a downturn in life and health profits led to a 1.5 percent
dip in the group's operating profits for the period, which
totalled EUR400.9mn.
Strong growth in net earned premium income helped Hannover Re
report improved underwriting results, as the reinsurer continued to
lift its gross written prem

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The State of the Insurer Nation: Week Three: Public Perception

04-11-2015 14:15

Mairi MacDonald Postonline In the third of afive-part series covering the results of the State of the Nation survey, Mairi MacDonald reports how our CEOs and managing directors view the public’s poor perception of the insurance industry and how simplified wordings and more information on the good the industry does could help.

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Product round-up: Cyber and sabotage take centre stage

04-11-2015 14:09

The ever-growing threat of cybercrime not only excited the attention of the ONS recently, it also prompted the launch of NIG Cyber Cover

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Review: Taking on terrorism

04-11-2015 14:02

Terrorism & Sabotage Insurance. This product has been reviewed by brokers and rated from one to five stars, based on the policy’s key benefits. * = Poor ** = Average *** = Good **** = Very good ***** = Excellent

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ABI 2015: Driverless cars to change insurance landscape

04-11-2015 13:51

RSA's Steve Lewis says it is impossible to understand the ramifications of where technology is heading.

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AIG plots 400 senior job cuts

04-11-2015 12:32

AIG to clear out a fifth of its senior staff

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Ageas results "solid", says Andy Watson

04-11-2015 12:24

CEO says claims inflation in motor will be a challenge going forward.

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Ageas’s Watson: CMA probe failings driving up motor claims costs

04-11-2015 12:20

Company will sacrifice home insurance volume to stay profitable, chief executive says

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Ageas Insurance net profit rises to £46.2m

04-11-2015 12:16

Provider's profit for the first nine months of 2014 was £43.9m.

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News Editor's Comment: Improving diversity

04-11-2015 12:14

Callum BrodiePostonline The issue of diversity in insurance got another airing last week, when it was cited in the launch of a discussion paper concerning succession planning.

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Watson commends 'stable' profits despite nine-month drop

04-11-2015 11:42

James Verrinder Postonline Ageas UK CEO Andy Watson told Post he is unconcerned by the firm's nine-month results published today (4 November), which included a 25% profit drop.

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Self-Driving Vehicles: Key to success

04-11-2015 11:15

Domenico Savarese Postonline It is only a matter of time before fully automated vehicles start appearing on our streets. How can insurers help manage the transition with liability products?

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L&G GI premiums slide 11% in nine months

04-11-2015 11:10

Katie Marriner Postonline Legal & General has reported an 11% drop in general insurance gross premiums for the nine months ended 30 September 2015 to £251m (9M 2014: £282m).

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Ageas UK sees profits fall to £46.9m

04-11-2015 10:32

James Verrinder Postonline Ageas UK has reported a decrease in profits for the first nine months of 2015 - down to £46.9m from £63.2m in the same period last year.

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Apollo ‘no longer interested’ in buying Xchanging

04-11-2015 10:23

Withdrawal could pave the way for Capita takeover

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AIG chief: Icahn’s breakup plan makes no sense

04-11-2015 10:12

Peter Hancock sees ‘tremendous benefit’ in combining life and non-life insurance

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Capita wins Xchanging race as Apollo withdraws

04-11-2015 09:55

Private equity house Apollo has pulled out of the race with
trade buyer Capita to buy insurance outsourcer and software group
Xchanging plc.In a London stock exchange announcement this morning Xchanging
said that Apollo had said that it was no longer interested in
potentially making an offer for the firm, which it had earlier
indicated at the 170 pence per share level.The withdrawal of Apollo means that unless a new bidder emerges,
larger London-quoted quoted outsourcing specialist Capita...

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London and Singapore underwriting associations team up

04-11-2015 09:43

IUA and SRA partnership will help companies with presence in both hubs

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Competition pushes L&G GI premiums down 11%

04-11-2015 09:30

Insurer expanding its digital strategy with mobile-friendly platform

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Apollo pulls out of Xchanging race

04-11-2015 09:28

James Verrinder Postonline Apollo Global Management has decided against making a further offer for outsourcing firm Xchanging, leaving the path clear for Capita to finalise a deal.

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Ageas UK reports nine-month profit of £47m despite GWP drop

04-11-2015 09:06

COR improves by one point to 98.3%

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Briefing: Why cyber is a fantastic sales opportunity for SME brokers

04-11-2015 07:00

A report by KPMG reveals the huge cyber threat to SMEs. Brokers must take centre stage in helping their clients wake up to the threat

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Tianjin loss contributes to lower Alleghany profits

04-11-2015 03:24

Alleghany reported a dip in third quarter operating profits as
underwriting performance deteriorated in its (re)insurance
operations, including the impact of a $31.5mn Tianjin loss at
TransRe.
The New York-based company said operating profits fell by 25
percent to $111.8mn while underwriting profits were down 33 percent
to $94.2mn on a consolidated basis.
Top line was also down, with net written premiums dropping 10.1
percent to $1.01bn, impacted by softening market conditions and the
strong dol

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Q3 investment challenges send Third Point Re to net loss

04-11-2015 03:24

Third Point Re fell to a $195.7mn Q3 net loss that was almost
entirely driven by investment losses in what it described as
"difficult market conditions".
But the hedge fund reinsurer booked a significant uptick in
gross written premiums of 62.6 percent to $205.6mn as it added a
$91.6mn adverse development cover (ADC) to its underwriting
portfolio.
The quarterly net investment loss of $192.3mn was widely
expected because of the monthly investment updates the Bermudian
posts.
The company's investm

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Citizens depopulation drives HCI growth

04-11-2015 03:24

Floridian home insurer HCI Group grew its top line by 16.7 percent
in the third quarter driven by assumptions of around 36,000
policies from state-backed carrier Citizens.
The assumption of the 6,000 homeowner's multi-peril policies
and 30,000 wind-only risks pushed the carrier's gross written
premium to $103.8mn, up from $88.9mn for the same period last
year.
Nevertheless, income available to common shareholders reduced to
$7.4mn for the quarter, almost half of the $14.1mn the carrier
reported

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A&E charge sends American Financial profits lower

04-11-2015 03:24

A $52mn after-tax reserve charge for American Financial
Group's (AFG) asbestos and environmental (A&E) liabilities
contributed to a near halving of the company's Q3 net
profits.
The group reported net earnings of $63mn for the third quarter,
down from $116mn for the same period last year.
AFG said it had taken the charge after completing a
comprehensive external study of its A&E exposures relating to
the run-off operations of its P&C group and exposures from
former railroad and manuf

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Markel appoints former Cooper Gay director in China

04-11-2015 03:24

Andrew Tjaardstra Postonline Markel has appointed Helena Zhang as business development manager for its underwriting division at Lloyd's China.

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Where will tech change leave the broker?

04-11-2015 02:22

Listening to the technological advances being made in the US, Sian Barton wonders where the broker is going to fit in.

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Power hour: A better customer journey

04-11-2015 01:58

As more SME business is traded electronically, how can brokers and insurers make what could be a complex purchase into a simple and easy to understand process for customers?

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In-depth: Country life

04-11-2015 01:53

Running a farm with a B&B or owning a horse seems idyllic. But rural life is not without its challenges and adequate insurance is a requirement - so what can brokers do to win clients in these niche markets?

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Industry calls for action on underinsurance

04-11-2015 01:39

Brokers urged to help in fight against underinsurance and take the lead in educating clients

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FCA moves the goalposts over add-ons

04-11-2015 01:37

Brokers express surprise and concern over regulator’s unexpectedly wide definition of add-ons

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Survey reveals lack of concern over fraud

04-11-2015 01:33

Majority of brokers say application fraud is not a priority for their business, according to SSP survey

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Brokers could benefit from rising tide of cyber crime

04-11-2015 01:29

Recent high profile hacks and data breaches remind businesses of the need for cyber insurance

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Broking success: National ambition

04-11-2015 01:28

Managing director Russell Lane set up Bristol-based professional indemnity broker Brunel Professional Risks 10 years ago. He explains the firm’s nationwide reach and his plans to open more offices.

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