With the pace of growth in UK financial services continuing to slow in the three months to September, the latest survey from the Confederation of British Industry (CBI) and PricewaterhouseCoopers (PwC) has the following to say about the insurance industry: Life insurance volumes increased for the seventh consecutive quarter, although the level of business was [...]
Amer Ahmed is taking over as chief executive officer of Allianz Re effective 1st January 2012, succeeding Clemens von Weichs. The forty-four year old became a member of the reinsurer’s executive committee in 2007 when as chief risk officer, he was responsible for overall risk management including actuarial, the natural catastrophe team, and the firm’s [...]
Despite significant insurance losses in the first half of the year, insurers have remained “competitive but cautious”, according to Marsh. In its third-quarter 2011 market update, the broker notes that while rates remained relatively stable, reductions were common in many lines. However, losses earlier in the year meant that even property programmes not affected by [...]
The Office of Fair Trading (OFT) is proposing amendments to commitments offered by a number of motor insurers, following its investigations aimed at addressing competition concerns and subsequent agreements with insurers, set out in January. By subscribing to an analysis tool, seven insurance companies are able to access their own pricing information provided to brokers, [...]
