Insurance news

• AOB crisis drives Citizens rates up 6.8 percent

  22-06-2016 22:55
  The board of Florida's state-backed insurer Citizens has
  approved statewide rate increases of 6.8 percent for personal lines
  policyholders in 2017 as it pointed to rising non-weather water
  losses and assignment of benefit (AOB) abuse.
  The carrier had previously warned that the growing AOB crisis
  could send rates higher in the short-term and leave homeowners
  facing rate hikes for years to come if the situation was not
  addressed.
  And in a statement today (22 June), Citizens' board members
  recommen
  
  Read more

• Q&A with Insurance Fraud Awards young investigator winner Adam Grady

  22-06-2016 22:33
  
  The deadline for the 2016 Insurance Fraud Awards is fast approaching, so if you want to be in contention for these prestigious accolades you will need to start thinking about that entry today.
  
  Read more

• Market trailing other industries on modernisation: Reid

  22-06-2016 21:31
  London Market Group (LMG) CEO Ben Reid has said the insurance
  industry is "playing catch-up" on other sectors which
  have embraced modernisation more openly.
  Speaking to an audience of senior executives at The
  Insurance Insider CFO Forum in London today (22 June)
  he said the London insurance market was significantly behind other
  global business centres which have implemented reforms.
  Reid further emphasised the need for LMG initiatives such as
  Placing Platform Ltd. (PPL), delegated authorities an
  
  Read more

• Macquarie: Brexit would have limited US P&C impact

  22-06-2016 18:44
  A decision by the UK public to leave the European Union would have
  a limited impact on US P&C (re)insurance stocks, according to
  Macquarie Capital.
  Equity analyst Amit Kumar highlighted XL Group, American
  International Group, Validus and Aspen as the US-listed companies
  with the largest capacity at Lloyd's and therefore among the
  most exposed to the result of the EU referendum taking place
  tomorrow (23 June).
  Kumar said he believed a UK exit would not create any meaningful
  disruption for...
  
  Read more

• Advertisement

• Liberty Insurance to cut 70 jobs

  22-06-2016 18:37
  
  Liberty Insurance, the Irish subsidiary of Liberty Mutual Insurance Group, will cut 70 jobs following market instability, claims increase and excess capacity for commercial liability insurance.
  
  Read more

• Liberty Insurance cuts 70 jobs

  22-06-2016 18:37
  
  Liberty Insurance, the Irish subsidiary of Liberty Mutual Insurance Group, will cut 70 jobs following market instability, claims increase and excess capacity for commercial liability insurance.
  
  Read more

• CII opens doors for 2016/2017 new generation group

  22-06-2016 17:16
  
  The New Generation Groups programme - which has so far trained 200 professionals over five years - is now open for nominations the coming year and 2017, theChartered Insurance Institute.
  
  Read more

• CII launches training academy for new generation

  22-06-2016 17:16
  
  A year-long training programme for a new generation of leaders in claims, underwriting and broking has been launched by the Chartered Insurance Institute.
  
  Read more

• Advertisement

• Man sentenced after fraudulent £300,000 insurance claim

  22-06-2016 16:48
  
  A South Wales man was sentenced after attempting to use fake invoices as part of a £300,000 insurance claim.
  
  Read more

• Man sentenced after fraudulant £300,000 insurance claim

  22-06-2016 16:48
  
  A South Wales man was sentenced after attempting to use fake invoices as part of a £300,000 insurance claim.
  
  Read more

• Fraudster sentenced after fake invoice claims worth £300,000

  22-06-2016 16:48
  
  A South Wales man was sentenced after attempting to use fake invoices as part of a £300,000 insurance claim.
  
  Read more

• Barclays positive on RSA prospects

  22-06-2016 16:46
  
  Analysts at Barclays have indicated that RSA is on track to meet its growth targets following a meeting with senior management.
  
  Read more

• Consolidation looms for European non-life market warns Eiopa

  22-06-2016 16:45
  
  Further consolidation and M&A activity is looming for the European general insurance sector if low interest rates continue, the European Insurance and Occupational Pensions Authority (Eiopa) has warned.
  
  Read more

• Crawford appoints Agadi as CEO

  22-06-2016 14:21
  Global loss adjuster Crawford & Company has named Harsha
  Agadi as president and CEO.
  The executive has served as interim president and CEO since
  August 2015, when previous incumbent Jeffrey Bowman stepped down
  after nearly eight years in the top role.
  "During Harsha's interim leadership period, he made
  some tough but necessary changes that helped move Crawford toward
  profitable growth," said Charles Ogburn, non-executive
  chairman of the company.
  "He thinks strategically and has the results-o
  
  Read more

• Axa Investment Managers hires Price

  22-06-2016 14:21
  Axa Investment Managers (Axa IM) has announced the appointment
  of Chris Price as head of insurance solutions in the UK.
  Based in London, Price will be responsible for providing
  investment recommendations and developing customised solutions for
  UK insurance companies. He will report to Mathilde Sauvé, head
  of institutional solutions at Axa IM.
  Price joins from Deutsche Asset Management, where he was
  director of insurance asset management and head of industry
  solutions in the UK.
  Prior to t
  
  Read more

• Crawford confirms Agadi as president and chief executive

  22-06-2016 13:20
  
   
   
  
  Read more

• Axa UK's biggest opportunity is in broker business, says Amanda Blanc

  22-06-2016 13:00
  
  UK & Ireland CEO plans to expand SME offering and move more into mid-market business to grow revenues.
  
  Read more

• CII calls for applicants to New Generation Groups

  22-06-2016 12:44
  
  Deadline to enter year-long 2016/2017 programme is 5 August.
  
  Read more

• Antares launches casualty treaty offering

  22-06-2016 12:43
  Qatar Insurance Company-backed Lloyd's carrier Antares has
  launched a casualty treaty division, headed by former Everest Re
  senior casualty underwriter Neil Jarman.
  In a statement released today (22 June), the company said Jarman
  had been named casualty treaty manager with immediate effect. He
  will report to non-marine underwriting manager Kieran Oliver.
  Prior to his role at Bermudian carrier Everest Re, Jarman served
  in a variety of underwriting roles at Novae.
  Antares active underwriter Joe Ba
  
  Read more

• Axa UK can meet global COR targets says CEO Amanda Blanc

  22-06-2016 12:29
  Axa's UK CEO Amanda Blanc believes that the business is on target to meet the ambitious improved targets for group-wide combined operating ratio (COR) set out as part of its new four year strategic plan yesterday (21 June).
  
  Read more

• XL Catlin recruits Asia Pacific casualty underwriter

  22-06-2016 11:38
  XL Catlin has hired Louisa Lu as a senior casualty underwriter
  for insurance in the Asia Pacific region, the carrier announced
  yesterday (21 June).
  She has relocated to Singapore from Hong Kong to take up the
  role.
  Lu joins the carrier from American International Group (AIG),
  where she was most recently responsible for regional products
  liability and multinational programmes in Hong Kong.
  Prior to this she spent two years as a product liability
  underwriter in Singapore for Markel International.
  
  Read more

• Aon UK names Nicholson non-executive director

  22-06-2016 11:38
  Aon UK has appointed John Nicholson as a non-executive director,
  it announced today (22 June).
  Nicholson's 44-year career includes an 18-year stint at
  Marsh, where he held various roles including CEO of the UK
  corporate business, UK COO, EMEA executive committee member for
  risk and governance, and chair of the risk committee.
  Most recently, from 2007 to 2015, Nicholson was board director
  for risk and governance at Marsh Limited.
  Simon Jeffreys, chairman of Aon UK, commented: "John's
  broad indust
  
  Read more

• Das launches private prosecution against Paul Asplin

  22-06-2016 10:39
  
  Asplin called to criminal court on fraud charges as he denies charge.
  
  Read more

• Broking success: Quality advice

  22-06-2016 10:30
  
  Luker Rowe managing director Chris Luker details the broker’s family origins and explains its commitment to dealing with clients face to face
  
  Read more

• Aon UK appoints long-serving Marsh exec to board

  22-06-2016 10:02
  
  Aon UK Limited has appointed former Marsh executive John Nicholson as a non-executive director.
  
  Read more

• Supplement - Then and Now: The threats to and opportunities for brokers

  22-06-2016 10:00
  
  Bespoke detailed research to be published with the July edition of Insurance Age.
  
  Read more

• Allianz to start warning brokers about client underinsurance

  22-06-2016 09:10
  
  Allianz UK is planning to start warning brokers when it thinks small business clients are potentially underinsured from next month, SME and corporate partnerships director David Martin.
  
  Read more

• Swinton closes Leek branch

  22-06-2016 09:00
  
  Broking group Swinton closed its Leek branch on 18 June.
  
  Read more

• Towergate hires Microsoft to help with IT overhaul

  22-06-2016 08:56
  
  Towergate has hired Mircosoft as a provider of cloud-based computing as it continues to overhaul its IT systems.
  
  Read more

• Blog: The art of data sharing

  22-06-2016 08:30
  
  Fakes and fraud are a costly aspect of art claims. To counter this, specialist specie underwriters and personal line insurers should learn the lessons from other sectors and embark on collective action.
  
  Read more

• Video: Andrew McMellin of XL Catlin

  22-06-2016 08:00
  
  XL Catlin UK and Ireland CEO Andrew McMellin talks about how successful the integration of XL and Catlin has been.
  
  Read more

• Euro 2016: Italy v Ireland chemicals/pharmaceuticals match-up - Final score 4:4

  22-06-2016 08:00
  
  Italy is meeting Ireland in the group stage of Euro 2016. But how do both countries compare in terms of chemicals and pharmaceuticals industry performances and trading risks?
  
  Read more

• Asia Interview: Amelie Breitburd, CFO, Axa Asia

  22-06-2016 04:40
  
  Andrew Tjaardstra met with Amelie Breitburd, chief financial officer of Axa Asia at the insurer's Asia headquarters inQuarry Bay on Hong Kong Island.
  
  Read more

• Lu swaps AIG in Hong Kong for XL Catlin in Singapore

  22-06-2016 04:10
  
  Louisa Lu has joined XL Catlin in Singapore as senior underwriter - casualty for Asia-Pacific.
  
  Read more

• Fed Nat shares drop 5% after CFO departs

  22-06-2016 01:23
  Shares in Federated National closed down almost 5 percent today (21
  June) after the Florida homeowners carrier announced its CFO had
  resigned with immediate effect.
  The firm revealed last night that CFO Peter Prygelski had left
  to pursue other opportunities and that Erick Fernandez, previously
  vice president of corporate accounting and reporting, had taken the
  position on an interim basis.
  Commenting on the departure, Keefe, Bruyette & Woods analyst
  Arash Soleimani described Prygelski as a "
  
  Read more

Follow @Insurance_UKnws on Twitter!