Aviva recorded a 5% rise in worldwide sales, to £35.9 billion, over the first nine months of 2010, compared with a year earlier. Long-term savings sales were up 6% (£28.6 billion) and general insurance and health net written premiums rose 4% (£7.3 billion). Looking to the future, group chief executive, Andrew Moss, expects the insurer [...]
easyJet is claiming an industry first with this week’s launch of an in-flight travel insurance service. The airline has made the move in response to research suggesting that one in five UK holidaymakers set off on their vacations uninsured, which in easyJet’s case equates to around 20 to 30 people per flight. Passengers in-flight can [...]
Marsh has announced the appointment of Mike Rogers as the firm’s new head of Marsh ProBroker, the UK community of independent brokers. Rogers, who is to be based in London, was formerly head of Business Development at Towergate’s Broker Network. Ian Reid joins the firm from Towergate London Markets, and has been appointed to the [...]
The Chartered Insurance Institute (CII) and the Financial Services Skills Council (FSSC) have joined forces in a move that will see the CII’s life and pensions’ faculty assist the Council. The FSSC has changed its corporate structure over the past few months and is now more focused on working collaboratively. As a result, CII board [...]
Ambac Financial Group has announced that it is pursuing a restructuring of its outstanding debt through a prepackaged bankruptcy proceeding. The US bond assurer has skipped an interest payment due on part of its $1.6 billion debt and having failed to raise additional capital, intends to file for bankruptcy under Chapter 11 of the US [...]
Endurance Specialty Holdings Ltd. has reported its third quarter results, including a net income of $139.1m, equating to $2.51 per diluted common share. This is a decline of just under 10% from Q3 2009 when the firm made net income of $153.8m ($2.51 per diluted common share), but is well over double the $58.6m ($0.97 [...]
Groupama Insurances has announced the appointment of Deborah Hall to the post of Research and Insight manager, responsible for leading its research efforts in Portsmouth. Hall will be tasked with the collection, analysis and dissemination of data, and using her knowledge to help develop the firm’s propositions and services. She brings extensive experience of research [...]
New research from the Department of Work and Pensions (DWP) suggests that almost one-third of employees in workplace pension schemes don’t know how much their employer is contributing to their pension pot. The latest Attitudes to Pensions survey, carried out for the DWP, also reveals that in the private sector, 59% of employees do not [...]
Zurich Financial Services has announced that its subsidiary, Zurich Insurance Company Ltd, has completed the acquisition of 80% of PT Mayapada Life from the Mayapada Group, which will continue to hold 20% of the company. Headquartered in Jakarta, PT Mayapada Life recorded gross written premium of $1.7 million in 2009, having operated mainly through tied [...]
Independent legal expenses proivider MSL Legal Expenses Limited (MSL) has formed a three year partnership with Keychoice Network. Members of Keychoice Network will be able to offer a portfolio of motor, domestic and commercial legal expenses products including Keychoice Accident Management Plus, which offers full motor accident management cover. In addition, they will be able [...]
Global insurance broker and risk adviser Marsh has advised firms in the area affected by the Fire Brigade Union (FBU) strike to take additional precautions. Strike action is planned for today, and from the 5th to the 7th of November, and although emergency cover will be present it will be far less than would normally [...]
Lloyd’s of London has announced that it is making life easier for its coverholders with new technology. The market has around 2,600 coverholders globally, who bring in around 30% of premium, and a programme is underway to enhance and promote the coverholder channel for the future. Last week saw the launch of a standard “bordereau” [...]
Chubb has established a Healthcare Information Technology Program in the US, aimed at addressing the industry’s liability needs in the light of healthcare reform. Currently, over 1,000 companies supply information technology products and services to the healthcare and medical research industries in the US and Canada, and the sector is poised for additional growth. The [...]
