Insurance news

• Three-tier market continues in aviation renewals

  10-08-2016 19:30
  Premium rates are continuing to fall in the aviation market on
  average, but airlines affected by major losses or with poor
  attritional records are now facing hikes, according to JLT.
  In the broker's Plane Talking report for July, JLT
  noted that airlines with low limits that posted high fleet or
  traffic growth remained capable of achieving large rate
  reductions.
  At the other end of the scale, increased underwriting scrutiny
  punished those with poor loss records, as underwriters focused on
  improvi
  
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• UK Ageas chief warns of slowing motor market

  10-08-2016 16:21
  
  Andy Watson explains the performance of commercial lines and special risks which reported a 107.7% COR.
  
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• Applied CEO: Purchase in Ireland has benefits for UK brokers too

  10-08-2016 16:17
  
  Reid French hints at further deals to come after the technology firm buys Relay Software.
  
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• Simplifying the tech rabbit hole

  10-08-2016 16:00
  
  Konsileo founder John Warburton explains why he believes tech hasn’t helped brokers for at least 15 years and outlines his hopes for change.
  
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• L&G GI unit in big push for bank partnerships

  10-08-2016 15:08
  
  Banks and building societies ‘strong growth area’ for L&G
  
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• Insurers voice concerns over FCA transparency proposals

  10-08-2016 14:10
  
  The Financial Conduct Authority has today published a policy statement on their consultancy paper which outlines recommendations to increase engagement at renewal in the general insurance markets, but insurers are worried their positions will be undermined.
  
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• US Cyber Command plan prompts call for review of UK system

  10-08-2016 13:11
  
  Professional hacker says Cyber Command development was unexpected
  
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• FCA gives 1 April deadline for renewal transparency

  10-08-2016 12:55
  
  New rules for personal lines make disclosure of last year’s premium compulsory at renewal.
  
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• RFIB branches into M&A insurance

  10-08-2016 12:30
  Independent broking house RFIB has launched an M&A insurance
  business with the appointment of James Wilson as head of the
  division, it announced today.
  Wilson joins from Protean Risk, where he was head of
  transactions solutions. He takes up the role with immediate effect
  and reports to chief operating officer Paul Chilton.
  The RFIB transactions solutions division will provide warranty
  and indemnity (W&I), specific tax liability and specific
  contingent liability insurance.
  CEO Dennis Maho
  
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• Rayner leaves MS Amlin for Pioneer

  10-08-2016 12:30
  Minova Insurance's managing general agency Pioneer Underwriting
  has appointed Graeme Rayner as group underwriting director.
  Rayner joins from MS Amlin, where he served as chief
  underwriting officer of Mitsui Sumitomo Insurance Underwriting
  (MSI) and active underwriter of Lloyd's Syndicate 3210.
  Before joining the company Rayner was managing director of
  QBE's commercial business unit.
  Eamon Brown, who has served as Pioneer's group underwriting
  director since August last year, will revert to his p
  
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• AFG co-CEO sells $7.2mn of shares

  10-08-2016 12:30
  Carl and Craig Lindner, co-CEOs of American Financial Group (AFG),
  have sold $12.6mn worth of stock in the company.
  Carl Lindner sold 100,000 AFG shares at an average price of
  $71.81 each on 8 August, while Craig Lindner sold 75,000 shares at
  an average price of $72.13 per share.
  The news comes after the carrier announced flat second quarter
  operating profits of $113mn last week (3 August).
  At $1.28 a share, the result was just ahead of analysts'
  consensus forecasts...
  
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• RKH’s Stuart Rootham lands new role

  10-08-2016 12:23
  
  Rootham resurfaces June departure from Hyperion
  
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• Transactor announces “major re-write” of software

  10-08-2016 11:54
  
  The software house says the change will offer an “all new user experience” for brokers.
  
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• FCA sets deadline for new renewal transparency rules

  10-08-2016 11:53
  
  New rules include an additional requirement following consultation
  
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• Norfolk insurance broker Hugh J Boswell becomes latest to suffer a cyber-attack

  10-08-2016 11:46
  
  Norfolk insurance broker Hugh J Boswell has become the latest insurance firm to suffer a cyber-attack, Post can reveal.
  
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• Sompo takes $403mn hit from Kumamoto quake

  10-08-2016 11:24
  Sompo Japan Nipponkoa booked 41.2bn yen ($403mn) of losses upfront
  from the Kumamoto earthquake in the three months to 30 June.
  However, the loss number should be netted down to reflect
  catastrophe loss reserves of 37.0bn yen. Japanese insurers lay down
  cat reserves in loss-free periods which they can then release after
  a disaster to mitigate major losses.
  Residential claims from the earthquake will have been picked up
  by the Japanese government's insurance scheme, leaving domestic
  carriers with
  
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• In the August issue of Post magazine

  10-08-2016 11:18
  
  Inga Beale and the British Insurance Awards are in the August issue of Post.
  
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• Ageas UK profits hit by June flash floods

  10-08-2016 10:48
  
  Group’s 2016 half year COR breaks through 100% barrier.
  
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• Ageas profits in UK hit by June flash floods

  10-08-2016 10:48
  
  Group’s 2016 half year COR breaks through 100% barrier.
  
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• RFIB launches Transaction Solutions business

  10-08-2016 10:30
  
  James Wilson has been appointed to head up the business.
  
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• Brighton to host southern Broker Expo

  10-08-2016 10:27
  
  Insurance Act and Brexit focus of proceedings as Broker Expo heads for the seaside resort of the UK.
  
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• Das reveals new MD for UK and Ireland insurance

  10-08-2016 10:26
  
  James Henderson joins legal expenses specialist from British Gas’ parent company Centrica.
  
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• Ageas sees GWP growth despite weather claims hitting profits

  10-08-2016 10:01
  
  Ageas has seen its consolidated UK combined operating ratio rise to 100.1%for the first half of 2016 as a result of flash floods and storms in June.
  
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• Stuart Rootham to join Aston Scott as group MD

  10-08-2016 09:52
  
  Former joint MD of general UK retail at Howden starts new role in October.
  
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• Ageas UK profit and COR hit by weather claims

  10-08-2016 08:58
  
  Motor underwriting performance improves but other lines worsen
  
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• DAS shake up in UK continues with MD hire

  10-08-2016 08:30
  
  DAS takes director from FTSE 100 firm to head up UK and Ireland insurance 
  
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• DAS hires UK and Ireland insurance MD

  10-08-2016 08:30
  
  Former Centrica executive takes new role at legal expenses insurer
  
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• Former AIG boss’s UK insurer edges closer to launch

  10-08-2016 08:15
  
  New company receives financial strength rating
  
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• Ex-AIG boss’s UK insurer edges closer to launch

  10-08-2016 08:15
  
  New company receives financial strength rating
  
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• Blog: Enterprise collapse shows taxi and self-drive rates have been too low

  10-08-2016 08:00
  
  Enterprise's failure shows a correction to rate levels is long overdue. Mark Bacon, underwriting director at ERS, argues now is a time for discipline in pricing.
  
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• Blog: Autonomous vehicles - whose claim is it anyway?

  10-08-2016 08:00
  
  Autonomous vehicles are regularly in the press heralding a new era of transport and social inclusion. While a fully autonomous world is an exciting prospect, most commentators will readily admit that it may be at least 20 years before we can call an autonomous vehicle to collect us following a night out.
  
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• Motorists pay higher premiums in ethnic neighbourhoods, says PI legal firm

  10-08-2016 07:30
  
  Motorists living in areas with a high proportion of ethnic minorities pay higher premiums for motor insurance, according to a report commissioned by a personal injury legal practice - and dismissed by the Association of British Insurers as flawed and derogatory.
  
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• Independent report indicates policy holders pay 'ethnic penalty' for motor premiums

  10-08-2016 07:30
  A damning independent report commissioned by Thompsons Solicitors claims that motorists living in areas with a high proportion of ethnic minorities pay higher for motor premiums.
  
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• Millions of Britons paying ‘ethnic minority penalty’ for car insurance

  10-08-2016 07:01
  
  Drivers in areas with high density of minority ethnic households are each charged up to £450 a year more, says studyMillions of people living in areas with a high density of minority ethnic households are paying an “ethnic penalty” of up to £450 a year each in higher car insurance premiums, according to a report co-written by the former equality commissioner Trevor Phillips.The study said there was a strong statistical link between the proportion of minority ethnic househ
  
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• Millions of Britons pay ‘ethnic penalty’ for car insurance, report claims

  10-08-2016 07:01
  
  Drivers in areas with high density of minority ethnic households are each charged up to £450 a year more, says studyMillions of people living in areas with a high density of minority ethnic households are paying an “ethnic penalty” of up to £450 a year each in higher car insurance premiums, according to a report co-written by the former equality commissioner Trevor Phillips.The study said there was a strong statistical link between the proportion of minority ethnic househ
  
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• Asia Analysis: Hong Kong's watered-down health insurance scheme

  10-08-2016 05:35
  
  The Hong Kong government has announced a watered-down version of its controversial Voluntary Health Insurance Scheme. Nicky Burridge explains.
  
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• Portevin switches roles and Carter to retire at Allianz's global commercial arm

  10-08-2016 04:19
  
  Senior management shake-up at Allianz Global Corporate and Specialty.
  
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