Insurance news

• Protean Risk given Lloyd's broker status

  11-02-2016 18:51
  Protean Risk has been appointed as an official Lloyd's
  broker, the company announced.
  The specialist insurance broker was founded in 2007 and focuses
  on the investment, financial services and technology sectors.
  It also has dedicated M&A and transactions solutions and
  specialist private client practices.
  Protean Risk CEO Nathan Newell said the announcement marked a
  milestone in the broker's development.
  He commented: "We are very excited about the new
  opportunities that our direct access to
  
  Read more

• Navigators shares slide after earnings miss

  11-02-2016 18:51
  Navigators Group shares traded down by as much as 11 percent in New
  York this morning (11 February) after the US specialty insurer
  disappointed investors with a fourth quarter earnings miss.
  The share price was briefly trading below book value of $75.96
  but had rebounded to $77.08 at the time of writing (17:16 GMT) -
  down 8.8 percent on its previous closing price.
  Yesterday, the insurer reported Q4 operating earnings per share
  of $1.10 - below the Wall Street consensus...
  
  Read more

• Bluefin takes ex CEO Mike Bruce and GRP to court

  11-02-2016 18:38
  
  Broker confirms two existing members of Bluefin staff have been suspended from the company.
  
  Read more

• Bluefin takes legal action against ex-chief exec and Peter Cullum firm

  11-02-2016 16:31
  
  Two Bluefin staff have been suspended
  
  Read more

• Advertisement

• Bluefin takes legal action against ex-CEO and Peter Cullum firm

  11-02-2016 16:31
  
  Two Bluefin staff have been suspended
  
  Read more

• Marsh brings in ex-GCHQ chief as cyber consultant

  11-02-2016 15:58
  Marsh has secured the services of Sir Iain Lobban, the recently
  retired head of UK intelligence agency GCHQ, as a senior advisor on
  cyber risk, the company said today.
  He will join Marsh's global cyber centre of excellence and
  will report directly to UK and Ireland CEO Mark Weil.
  Sir Iain was director of GCHQ from 2008 to 2014 and prior to
  this served as the organisation's director general of
  operations from 2004.
  Mark Weil said that the appointment showed...
  
  Read more

• Winter storm learnings key for Flood Re's future

  11-02-2016 15:09
  
  Peta Fuller Postonline Learning from the December 2015 floods and longer term data trends will be key to making Flood Re a success, according to its CEO Brendan McCafferty.
  
  Read more

• Sharma does not expect further UK job losses

  11-02-2016 14:53 via insuranceage.co.uk
  
  Zurich UK to focus on 440 job cuts already announced but UKGI CEO admits he does not have a “crystal ball”.
  
  Read more

• Advertisement

• Zurich’s Sharma: economy could drive further UK GI job cuts

  11-02-2016 14:11
  
  Division on track to complete 440 planned cuts by end of March
  
  Read more

• Zurich closely monitoring Brexit developments

  11-02-2016 13:49
  
  Katie Marriner Postonline Zurich is keeping a close eye on how the referendum over UK membership of the European Union progresses, according to UK general insurance CEO Vibhu Sharma, who highlighted the company's position as one that is already headquartered outside the EU.
  
  Read more

• Zurich shares fall 5% on Q4 results

  11-02-2016 12:55
  Zurich shares fell 5 percent in early trading this morning (11
  February) after continued struggles in its general insurance
  business caused the insurer to fall to a net loss of $424mn in the
  fourth quarter.
  The net loss is a dramatic fall from the profit of $860mn
  recorded in the fourth quarter of 2014.However, the insurance giant confounded expectations that it
  would cut its dividend, choosing instead to erode its excess
  capital by paying out well beyond full-year net...
  
  Read more

• Suncorp general insurance profit down a third

  11-02-2016 12:55
  Australian insurer Suncorp today (11 February) reported a
  general insurance net profit of A$297mn ($210mn) for the half year
  to 31 December, down 29.1 percent on the same period the previous
  year.
  The general insurance result was impacted by lower investment
  income, which came to $133mn - compared to A$348mn a year earlier -
  representing an annualised return of 2.2 percent.
  The insurer also experienced higher than expected losses from
  natural catastrophes, which came in at A$362mn, A$28mn above
  
  Read more

• Results round up: 2015 full year company results

  11-02-2016 12:15
  
  Post Online Postonline Zurich and Markel latest firms to file.Find all the unedited 2015 full year results in one place.
  
  Read more

• Zurich UK reports £62m loss

  11-02-2016 12:01
  
  Insurer says loss is due to storm and flood losses.
  
  Read more

• Suncorp's CEO cites climate change as half year insurance profits fall 29%

  11-02-2016 11:54
  
  Andrew Tjaardstra Postonline Michael Cameron, CEO of Queensland based financial services group Suncorp, said a record run of natural disasters were hampering the company's performance.
  
  Read more

• Zurich operating profit down 37%

  11-02-2016 11:30
  
  New boss Greco to start early as up to 8,000 roles threatened.
  
  Read more

• Zurich UKGI COR hits 109.5% amid £62m operating profit loss

  11-02-2016 11:26
  
  Katie Marriner Postonline Zurich's UK general insurance business has reported a £62m business operating profit loss in its 2015 full-year results due to a high volume of large losses and claims related to the end of year UK storms and floods.
  
  Read more

• Biba announces new PI facility for members

  11-02-2016 11:19
  
  The facility is underwritten and managed by Manchester Underwriting Management in association with MGB Insurance Brokers.
  
  Read more

• Protean Risk appointed Lloyd's registered broker

  11-02-2016 11:13
  
  Financial services insurer says new status will widen range of products
  
  Read more

• Zurich UK GI makes £62m loss after floods and large claims

  11-02-2016 11:12
  
  COR jumps 17.9 points to 109.5% as GWP drops 4.4%
  
  Read more

• Markel COR improves to 89% for 2015

  11-02-2016 10:27
  
  Profit for the year increases to $582.8m.
  
  Read more

• Judge to decide on injunction today in Gallagher v Portsoken

  11-02-2016 10:27
  
  The third day of the hearing to take place at the Royal Courts of Justice.
  
  Read more

• Mario Greco to take Zurich helm two months early

  11-02-2016 09:17
  
  New chief executive will start new job on 7 March
  
  Read more

• Brit to launch definitive timescale on claims response

  11-02-2016 09:11
  
  The global insurer promises to ‘pay or explain’ the claim within 30 days of FNOL
  
  Read more

• Zurich to cut thousands more jobs as profit drops 53%

  11-02-2016 09:00
  
  Insurer will axe 8,000 roles by 2018, including cuts already announced
  
  Read more

• Lawyers unable to agree terms in Gallagher court order against MGA

  11-02-2016 08:54
  
  Defendants’ lawyers argue that amendments to order still has fundamental problems
  
  Read more

• US regulator to remove legal barrier for driverless cars

  11-02-2016 08:40
  
  Google wins support from regulator for vehicles that require no human intervention
  
  Read more

• Greco to begin Zurich CEO role earlier than planned

  11-02-2016 08:40
  
  Andrew Tjaardstra Postonline Generali's outgoing CEO Mario Greco will start his upcoming Zurich global CEO role months earlier than originally planned.
  
  Read more

• What if the computer says no because you are a disabled consumer?

  11-02-2016 08:11
  
  Half a million people believe they have been denied insurance because of a disability. Businesses could prosper if they tried to understand unique needsIn Stoke-on-Trent in around 1995, a retail manager looked my students up and down and said: “Sorry duck, but could you leave please? It isn’t appropriate.”This incident has stayed with me throughout my career. As a newly-qualified further education teacher, I had taken my students to a well-known clothing store as part of a cons
  
  Read more

• Zurich's CEO announces more job losses after "disappointing" 2015

  11-02-2016 07:55
  
  Andrew Tjaardstra Postonline Zurich's interim CEO Tom de Swaan has announced plans to eliminate 8000 roles by the end of 2018 after announcing a 37% profit fall last year.
  
  Read more

• Kirshner hails "tremendous" underwriting result at Markel

  11-02-2016 06:50
  
  Andrew Tjaardstra Postonline Alan Kirshner, executive chairman at Markel, said 2015 was a "tremendous year" for the (re)insurer's underwriting operations.
  
  Read more

• Navigators underwriting profits slip in Q4

  11-02-2016 03:26
  US specialty insurer Navigators saw underwriting profits drop by 11
  percent in the final quarter of last year as its top line
  contracted by 2.9 percent.
  The carrier reported operating earnings of $16.4mn for the
  period, down from $18.4mn in 2014.
  Gross written premium was $323.5mn in the most recent quarter,
  slightly down from $333.3 for the same period the previous
  year.
  The carrier's combined ratio deteriorated to 97.2 percent in
  Q4, up from the 93.8 percent it reported for...
  
  Read more

• Markel confirms second A&E loss portfolio transfer

  11-02-2016 03:26
  Markel Corp confirmed a second retroactive reinsurance transaction
  in October 2015 to transfer asbestos and environmental (A&E)
  exposures as it reported a surge in operating profits for the
  fourth quarter.
  The US-based insurer said it completed two transactions in March
  and October last year to cede a significant portion of its A&E
  exposures to a third party.
  The Insurance Insider revealed earlier this month that Markel
  had completed a second deal with Fairfax Financial's run-off
  unit Ri
  
  Read more

Follow @Insurance_UKnws on Twitter!