Legal & General (L&G) has launched a personal panic alarm application for the iPhone. The move has been prompted by research from the University of Leicester which suggests that criminals are increasingly favouring personal muggings over burglaries. The trend is though to be connected to lower-priced home electricals, such as DVD players, which currently have [...]
New research from LV= suggests motorists behave erratically when confronted with speed cameras, typically slamming on the brakes or looking at the speedometer as soon as a camera comes into view. Eighty-one per cent of respondents to the insurer’s survey admitted to instantly looking at their speedometers, instead of the road, on detecting a speed [...]
Research carried out by moneysupermarket.com has identified the top 20 hotspots for home insurance claims for theft. While London households are the most likely to make a theft-related claim, with postcodes in the Capital taking half of the top 20 places, a Manchester postcode holds the top spot for the highest number of theft claims. [...]
GAB Robins is launching a new service that promises to boost claims handling capacities for insurers experiencing busy periods. The loss adjuster has developed Insurer Assist, which has been designed with casualty, commercial and domestic property and motor business in mind. The claims management package can be tailored to particular accounts or blocks of claims [...]
Swiss Re has released its financial performance results for the second quarter of 2010, including net income of US$812m. This is more than a billion dollars better than the US$342m net loss incurred during the corresponding period in 2009, with earnings per share improving from a loss of US$1.01 to a net profit of US$2.37. [...]
American International Group, Inc. (AIG) has reported that in the second quarter of 2010 it incurred a net loss of $2.7bn, equating to $3.96 per diluted common share. This is a substantially worse result than the $1.8bn net profit ($2.30 per diluted common share) made in the same quarter last year. It is also a [...]
Virgin Money is reminding homeowners that not all home insurance policies cover digital music and film collections. According to the media and finance group, CD sales decreased by close to 10% during the first half of 2010. During the same period the online download market grew by 34%, meaning that music and movie fans are [...]
Hasting Insurance Services Limited is offering a new no frills comprehensive car insurance policy to help save money for motorists hit by rising petrol prices and forecast insurance cost increases of 20%. The policy is aimed at those looking to cut costs, and offers essential core features such as a courtesy car and EU driving, [...]
Aviva has reported strong first-half results, with IFRS operating profit up 21% on a year earlier, to £1.27 billion. Long-term savings new business sales rose by 4%, to £20.2 billion, and the group increased its internal rate of return to 12%, having reduced costs by 4%. The UK and Europe accounted for over 80% of [...]
Zurich Financial Services Group has announced the appointment of Christian Orator to the position of chief administrative officer. Orator will assume a seat on the Group Executive Committee when he takes up his new post, his appointment being effective from 1 September of this year. He will succeed Richard P. Kearns, who is set for [...]
PartnerRe Ltd has reported its financial results for Q2 and H1, including net income of $190.9m, equating to $2.31 per share on a fully diluted basis, for the second quarter of the year. This is less than half the net income of the corresponding period in 2009, when net income of $474.3m ($8.10 per share) [...]
RSA recorded a 9% rise in net written premiums in the first half of 2010, to £3.8 billion, although pre-tax profit increased only slightly on the previous six month period, to £302 million. In the UK premiums were up by 9% to £1.5 billion: personal premiums rose 10% to £0.6 billion, with motor increasing 14% [...]
Global specialty insurer Torus has announced the appointment of David Whyman as senior vice president and UK head of Casualty. Whyman, who is to be based in London, will report directly to Chief Underwriting Officer and President of Global Casualty David Perez. In his new post he will be tasked with formulating new offerings for [...]
London-based broker, JLT Aerospace, has been appointed by ARABSAT to work alongside Marsh in developing a bespoke insurance package for a multi-satellite launch programme. ARABSAT was set up in 1976 by member states of the Arab League and has since become a leading satellite service provider to the Arab world, currently ranking among the top [...]
Munich Re has reported that in the second quarter of the year it made a consolidated profit of €709m, €12m more than it earnt in the same period last year and substantially more than the €485m made in Q1 2010. In the first half of the year Munich Re saw investment income increase by 42.8% [...]
AXA UK has made a positive start to the year, with underlying earnings increasing 34% in the first half of 2010, compared with a year earlier, to £151 million. However, in the UK and Ireland, General Insurance and Healthcare underlying earnings decreased by 18%, to £63 million, although this was mainly due to a favourable [...]
The AA has joined forces with Collingwood Insurance Services to offer a policy for learner drivers that won’t affect the car owner’s insurance. Learner Driver Insurance is available online and costs from £96.50 for an initial 28-day period of fully-comprehensive cover. AA Insurance and Driving School, director, Simon Douglas, says: “Many parents are put off [...]
Liberty Syndicates Management is entering the UK and Irish motor insurance markets. The firm has hired Julian Cashen as Class Underwriter and Justin Suttle as Deputy Class Underwriter. The two, who have over 40 years of market experience between them, will take up their positions later this year, together with a small team of motor [...]
Marsh & McLennan Companies, Inc. (MMC) has reported its financial results for the second quarter of 2010. In Q2 consolidated revenue increased by 6% to $2.6bn compared to the same period last year. Net income for the quarter was $236m, equating to $0.43 per share, a substantial improvement on the net loss of $193m ($0.37 [...]
International speciality property/casualty insurer and reinsurer Catlin Group Limited has announced the appointment of Peter Schmidt as chief executive officer of Reinsurance in Europe. At the same time he will take on the role of Catlin Re Switzerland CEO. Schmidt joined the firm at the start of the month, and is directly responsible to Group [...]
