Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 21st of July 2018
September 30, 2012

Decline in car know-how leaves maintenance undone

by Gill Montia

Story link: Decline in car know-how leaves maintenance undone

Only a minority of drivers are able to perform the most basic tasks needed to maintain their cars, according to research by Britannia Rescue, and it would also seem that motorists no longer own the basic tools needed to rectify a simple break down. Nearly two-thirds of drivers questioned didn’t own a car battery charger […]



September 28, 2012

Helphire reports preliminary annual results

by Richard Kilner

Story link: Helphire reports preliminary annual results

Helphire has reported its preliminary financial results for the year ended 30 June 2012. The firm reported a statutory operating loss of £0.7m, and adjusted operating profit of £1.4m, less than half the £3.4m that it achieved in the preceding year. Helphire also incurred a loss before taxation of £6.3m, with net debt reduced by […]



September 27, 2012

ABI: insurers paying out £200m a day

by Richard Kilner

Story link: ABI: insurers paying out £200m a day

The Association of British Insurers (ABI) has revealed that UK insurers are paying out almost £200m a day. The figures include daily payouts of £19m for motor insurance policies, and £9m relating to home insurance coverage. Damage to business premises has a daily cost of £4m, with travel and medical insurance costing £1m and £7m […]



CNA appoints claims leader for UK/Europe

by Richard Kilner

Story link: CNA appoints claims leader for UK/Europe

CNA Insurance Company Limited (CNA Europe) has announced the appointment of Monique S.P. van der Linden as head of Claims/Vice President for Europe. Chief Executive Officer John Hennessy said that he was thrilled to have Van Der Linden join the team, adding that her leadership skills would help the Claim teams provide superior service to […]



September 26, 2012

Lloyd’s reports strong biannual profits

by Richard Kilner

Story link: Lloyd’s reports strong biannual profits

Lloyd’s has reported that during the first six months of 2012 it made a profit of £1.53bn. This is the highest interim profit that Lloyd’s has achieved for five years, and is a swift return to the black after it incurred a £697m interim loss during the first half of 2011. Total net claims fell […]



September 25, 2012

Marsh volunteers aid lowland restoration

by Richard Kilner

Story link: Marsh volunteers aid lowland restoration

Thirty-two members of Marsh’s Financial and Professional Practice in Norwich have assisted the National Trust’s heathland restoration project at Felbrigg Hall in Norfolk. Two teams spent a day each in August and September at Felbrigg Hall, cutting and clearing scrub to help restore lowland habitat. Senior Vice President in Marsh’s Financial and Professional Practice in […]



AXA appoints Simple Products Trading Manager

by Richard Kilner

Story link: AXA appoints Simple Products Trading Manager

AXA Commercial Lines and Personal Intermediary has announced the appointment of Louisa-Jayne Stirzaker as Simple Products Trading Manager. Stirzaker, who is to be based at the National Trading Centre in Bolton, which is dedicated to smaller independent brokers. The newly created role will see her collaborating with AXA’s brokers to ensure that existing and new […]



September 24, 2012

Arthur J. Gallagher acquires Acumus

by Richard Kilner

Story link: Arthur J. Gallagher acquires Acumus

Arthur J. Gallagher International has announced that it has acquired specialist insurance advisor Acumus. Acumus caters to the needs of the housing association sector through the provision of risk consulting and insurance services. The firm offers a broad range of risk services, such as detailed assessments of key risk areas to firm-wide ‘health checks’. The […]



September 21, 2012

Willis opens new Malta office

by Richard Kilner

Story link: Willis opens new Malta office

Willis Group Holdings plc has announced the establishment of a new office in Malta to serve the needs of its regional captive and commercial insurance clients. The office, which was opened earlier this week, prompted Managing Director of Willis Management (Malta) Limited Nigel Goodlad to state that the firm was in an even better position […]



Ageas UK to acquire Groupama Insurance Company

by Richard Kilner

Story link: Ageas UK to acquire Groupama Insurance Company

Ageas has confirmed that it has signed an agreement to acquire Groupama Insurance Company Limited (GICL) for £116m (equating to around €145m). The deal will see Ageas become the United Kingdom’s fifth largest Non-Life insurer, fourth largest Private Motor insurer and fourth largest Personal lines insurer. The acquisition is seen as being a good strategic […]



MMC CEO and president to retire

by Richard Kilner

Story link: MMC CEO and president to retire

Marsh & McLennan Companies, Inc. (MMC) has announced that President and Chief Executive Officer Brian Duperreault is to step down at the end of the year. Group President and Chief Operating Officer Daniel S. Glaser has been named as Duperreault’s successor, with effect from 1 January 2013. Chairman of the Board of Directors Lord Lang […]



XL expands French operations

by Gill Montia

Story link: XL expands French operations

XL Group has opened a new office in Lyon with a team that will serve middle-market companies with annual turnover of €30 million to €300 million. The insurer has appointed Auberi Etienne and Clotilde Bartok to respond to the needs of companies and broking houses across France’s south-east region. Mr Etienne, who has been appointed […]



LV= outlines protection gender plans

by Gill Montia

Story link: LV= outlines protection gender plans

LV= will switch its protection business to gender neutral rates on 1st December and is offering advisers a “G Day Guarantee” ahead of the gender directive, which comes into force on 21st December 2012. The mutual reckons switching rates ahead of time offers certainty for advisers by allowing applications in the pipeline by 1st December […]



September 20, 2012

AXA: doctors call for whiplash control measures

by Richard Kilner

Story link: AXA: doctors call for whiplash control measures

Car insurer AXA has conducted research which reveals almost nine out of 10 UK doctors want the Government to introduce new measures to control claims of whiplash. The research found that 7% of doctors were actually offered money to refer patients with whiplash injuries. The vast majority (88%) of those surveyed want the Government to […]



Ironshore appoints International president

by Richard Kilner

Story link: Ironshore appoints International president

Ironshore Inc. has announced the appointment of David R. Frediani as the new president of Ironshore International. In collaboration with Ironshore regional executives and international underwriters Frediani will be tasked with expanding the firm’s presence in specialty business lines, and increasing the firm’s presence in Latin America and elsewhere. Frediani will also assume responsibility for […]



Zurich calls for changes to advice liability rules

by Gill Montia

Story link: Zurich calls for changes to advice liability rules

Zurich has joined forces with the Association of Independent Financial Advisers (AIFA) to launch a new report setting out recommendations to create a fairer level of liability for advice. The insurer and AIFA are calling on the Government and regulators to amend the rules regarding complaints on financial advice, arguing that open-ended liability is hindering […]



September 19, 2012

Hastings Direct to create 200 jobs

by Gill Montia

Story link: Hastings Direct to create 200 jobs

Insurance broker, Hastings Direct, says it will be creating 200 new posts in the next 12 months. Initially, staff will be hired for customer-facing roles and the company says it is seeking people who love delivering great service whilst at the same time getting a buzz from achieving challenging goals. Part-time, full-time and temporary staff […]



Bupa warns of social care black hole

by Richard Kilner

Story link: Bupa warns of social care black hole

The absence of a sustainable funding structure for social care has added £26m to the financial black hole over the course of the last 12 months. The stark assessment comes from Bupa’s recent Bridging the Gap report, which puts the total funding shortfall at £892m. The population is ageing and thus increasing social care demands, […]



ACE acquires 80% of Asuransi Jaya Proteksi

by Richard Kilner

Story link: ACE acquires 80% of Asuransi Jaya Proteksi

ACE Limited has announced that the firm has acquired 80% of PT Asuransi Jaya Proteksi in Indonesia. Asuransi Jaya Proteksi, which is based in Jakarta, is one of Indonesia’s leading general and personal lines insurers, and offers property, motor, accident, health and commercial insurance. ACE Asia Pacific Regional President Damien Sullivan said that the firm […]



Financial ombudsman sends warning shot to insurers

by Gill Montia

Story link: Financial ombudsman sends warning shot to insurers

Financial Services Ombudsman (FOS), Natalie Ceeney, has warned insurers that things are “going wrong” in the sector. Speaking at a conference hosted by the Association of British Insurers, Ms Ceeney explained: “Over the last three years, leaving PPI and bank charges to one side, the ombudsman service has seen a gradual reduction in complaints across […]