Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 20th of January 2018
March 24, 2012

Which? finds fault with aggregators

by Gill Montia

Story link: Which? finds fault with aggregators

Which? is claiming that the price you see isn’t always the price you pay, when it comes to buying insurance through aggregator sites. Having tested out 11 of the most popular sites, Which? found many of them using pre-selected answers and assumptions in their online forms and the consumer group warns that this can lead […]



March 23, 2012

Canopius reports £61m loss in 2011

by Richard Kilner

Story link: Canopius reports £61m loss in 2011

Canopius Group Limited has reported its financial results for the year ended 31 December 2011. Gross wrriten premiums rose by 9% from £564m to £616m, with a combined ratio of 111%, up from 92% last year. The firm incurred a loss to shareholders of £61m, a stark decline from the £43m post-tax profit of 2010. […]



RSA appoints UK and Western Europe HR director

by Richard Kilner

Story link: RSA appoints UK and Western Europe HR director

Global insurer RSA has announced the appointment of Karen Myers as the firm’s new Human Resources director for the UK and Western Europe. In her new role Myers will assume responsibility for HR functions within the region, and will report directly to Chief Executive UK and Western Europe Adrian Brown. Myers, who also becomes a […]



MMC appoints new International chairman

by Richard Kilner

Story link: MMC appoints new International chairman

Marsh & McLennan Companies, Inc. (MMC) has announced that Guy Carpenter President and Chief Executive Officer Alexander Moczarski is to take on the additional position of Marsh & McLennan Companies International chairman. In his new role Moczarski will be tasked with oversight of the firm’s international strategy and its country corporate officers. Before joining Guy […]



Aon advice as PPF levy deadline looms

by Gill Montia

Story link: Aon advice as PPF levy deadline looms

With the 30th March deadline approaching for submitting information to determine Pension Protection Fund (PPF) levies for 2012/13, Aon Hewitt is offering schemes advice on minimising the bill. Senior consultant, Milan Makhecha, has five key recommendations as follows: Amend or update your scheme return – this contains the key information that will be used to […]



March 22, 2012

Insurers broadly welcome Budget measures

by Richard Kilner

Story link: Insurers broadly welcome Budget measures

Alun Sweeney, UK & Ireland Director of leading trade credit insurer Atradius, welcomed the measures designed to support business that were announced in yesterday’s Budget. Sweeney particularly praised the cut in corporation tax and the additional investment in energy, pharmaceuticals and technology. He also welcomed the two major changes to income tax: the rise in […]



Britons endlessly searching for stuff

by Gill Montia

Story link: Britons endlessly searching for stuff

New research from esure home insurance claims that the average Briton misplaces almost 200,000 items over a lifetime. If so, Brits must be used to searching for about nine items per day, with mobile phones, house keys, car keys, and important paperwork and documents the most commonly misplaced items. Hairbrushes, gloves, clothing, umbrellas, books, train […]



Hardy Underwriting sells out to CNA

by Gill Montia

Story link: Hardy Underwriting sells out to CNA

Lloyd’s specialist insurer and reinsurer, Hardy Underwriting, has accepted a cash offer from CNA Financial Corporation, which is the seventh-largest US commercial insurer and the thirteenth-largest US property & casualty insurer. The £143 million sale will see Hardy Shareholders receive 280 pence in cash for each common share and the deal is expected to complete […]



March 21, 2012

Ecclesiastical reports 2011 pre-tax loss

by Richard Kilner

Story link: Ecclesiastical reports 2011 pre-tax loss

Ecclesiastical has reported its financial results for 2011, including a pre-tax loss of £7.7m. This compares to a pre-tax profit of £50.4m in 2010, and follows the H1 2011 pre-tax profit of £15.6m. Turnover for the year came to £498.8m, slightly short of the record £506.6m the firm achieved in the previous year. General insurance […]



Kiln appoints aviation underwriter

by Gill Montia

Story link: Kiln appoints aviation underwriter

Specialist insurance and reinsurance underwriting group, Kiln, has appointed Paul MacMillan as active underwriter of its aviation division. Mr MacMillan, who joined Kiln as deputy underwriter in 2007, has over 30 years’ experience in the aviation insurance industry. Richard Lewis, director of underwriting at Kiln, comments: “His in-depth knowledge of the sector and specialist expertise […]



March 20, 2012

Jelf’s Wayne Pontin new AMII Chairman

by Brian Turner

Story link: Jelf’s Wayne Pontin new AMII Chairman

At the Annual General Meeting today of The Association of Medical Insurance Intermediaries (AMII), Wayne Pontin was appointed chairman. Pontin was a member of the AMII executive committee from 2007 to 2010 and is currently Sales Director (West) of Jelf Employee Benefits. He succeeds Andrew Tripp, who has been AMII’s chairman for the last two […]



March 19, 2012

Allianz appoints casualty and motor manager

by Richard Kilner

Story link: Allianz appoints casualty and motor manager

Allianz Insurance has announced the appointment of Sarah Mallaby as casualty and motor manager within the Claims division. She succeeds Martin Saunders, who took over from retiring divisional claims manager (Technical) Roy Hebburn. Mallaby is to be tasked with the direction of motor and casualty claims handling and responsibility for major loss claims handling, litigation […]



Tysers appoints Haynes as non-executive director

by Richard Kilner

Story link: Tysers appoints Haynes as non-executive director

Leading independent international Lloyd’s broker Tysers has announced the appointment of Peter Haynes as a non-executive director. Haynes brings extensive experience to his new position with the firm as well as a respected reputation within the London insurance market. He presently works for Libero Ventures and earlier in his career spent an eight year stint […]



Aviva pays 99% of protection claims

by Gill Montia

Story link: Aviva pays 99% of protection claims

Aviva paid 99% of all protection claims (life insurance and critical illness cover) in 2011, having settled 99.7% of life and 94.1% of critical illness claims. Overall 0.4% of protection claims were declined due to non-disclosure, breaking down as life: 0.3% and critical illness: 1%. According to the insurer, 2011 payments totalled £439 million across […]



Mental and behavioural disorder claimants up 29%

by Gill Montia

Story link: Mental and behavioural disorder claimants up 29%

New analysis by Legal & General shows that the number of people claiming Employment and Support Allowance (ESA) because of mental and behavioural disorders has increased over 29% since 2010. ESA is paid to people who cannot work because of ill-health or disability and in May 2011, 265,530 people were claiming the allowance because of […]



Directors must wake up to cyber threats

by Gill Montia

Story link: Directors must wake up to cyber threats

Company directors must wake up to cyber threats or risk litigation from all sides, Willis has warned. Speaking at a recent cyber liability conference in London, the broker’s FINEX global unit director, Francis Kean, urged boards to grasp how exposed their company is to the digital threat environment, following recent Securities and Exchange Commission (SEC) […]



March 18, 2012

Aon shareholders approve London move

by Gill Montia

Story link: Aon shareholders approve London move

Aon has secured shareholder approval for the relocation of its Chicago headquarters to London. Ninety-eight percent of votes cast were in favour of the move, representing over 82% of the total outstanding voting stock of Aon Corporation. In January, Aon outlined plans to establish a corporate headquarters in London so as to have greater access […]



March 16, 2012

Groupama UK reports record profits

by Richard Kilner

Story link: Groupama UK reports record profits

Groupama has reported that in 2011 its combined UK operations saw profit, before tax and amortization, soar by 84% to £43.5m, up from £23.7m last year. Groupama Insurances profits more than doubled from £11.9m last year to £32.3m, with an especially impressive Personal Lines Division performance. Groupama’s UK Broking operations saw profits marginally decline from […]



LV= recognised for employee engagement

by Gill Montia

Story link: LV= recognised for employee engagement

LV= has won the Employee Engagement Strategy of the Year award at the UK Customer Satisfaction Awards, held by the Institute of Customer Service. The accolade was received by the insurer’s life and pensions’ customer service team, for its 2011 employee engagement strategy. Judges were impressed with a number of LV=’s initiatives, including the creation […]



March 15, 2012

Munich Re makes good start to 2012

by Richard Kilner

Story link: Munich Re makes good start to 2012

Munich Re has stated that it has made a promising start to 2012, and anticipates an annual profit of approximately €2.5bn. Chief Executive Officer Nikolaus von Bomhard expressed an optimistic note about the year ahead. Last year the firm recorded a profit of €712m and, in common with many others, suffered a difficult time due […]