Daily Insurance Industry News
 
 
Daily Insurance Industry News
Thursday 21st of June 2018
October 31, 2012

Lloyd’s appoints deputy chairman

by Gill Montia

Story link: Lloyd’s appoints deputy chairman

Lloyd’s has appointed Andy Haste as senior independent deputy chairman on the Council of Lloyd’s, succeeding Dr Andreas Prindl CBE, who is retiring. Mr Haste, whose three-year term starts on 1st November, has more than 30 years of international financial services experience. Notably, he was group chief executive officer of RSA Insurance between 2003 and […]



NEST consults on proposed scheme changes

by Gill Montia

Story link: NEST consults on proposed scheme changes

NEST (The National Employment Savings Trust) is consulting on proposed changes to its scheme rules, in the light of latest pension legislation. The consultation covers various technical items pertaining to NEST’s rules including: An amendment to the definition of “minimum contributions”. Removing the requirement for a self-enrolling member to sign terms and conditions. Amending the […]



October 30, 2012

Six arrested in Gwent “crash for cash” investigation

by Gill Montia

Story link: Six arrested in Gwent “crash for cash” investigation

Gwent Police have arrested six people as part of its on-going investigation into a suspected “crash for cash” fraud ring. Operation Dino has been following up on suspicious claims referred by insurers and the Insurance Fraud Bureau (IFB) and so far 40 people have been arrested, all of whom remain on Police bail. The investigation […]



L&G appoints head of treasury & investments

by Gill Montia

Story link: L&G appoints head of treasury & investments

Legal & General (L&G) has appointed Paul Stanworth as head of group treasury and investments, reporting to group chief executive officer, Nigel Wilson. Heading a newly created team, Mr Stanworth will be responsible for the overall asset strategy and financing of L&G’s balance sheet which comprises: £40.1 billion of assets across all shareholder interests; £16.4 […]



CNA reports rising Q3 and 9M profits

by Richard Kilner

Story link: CNA reports rising Q3 and 9M profits

CNA Financial Corporation has reported its financial results for the third quarter of 2012, including net income of $221m, equating to $0.82 per share. This is an improvement of about a third from the $166m, or $0.62 per share, the firm made during the preceding quarter. It is also about three times the net income […]



Bluefin bolsters Commercial division

by Richard Kilner

Story link: Bluefin bolsters Commercial division

Bluefin Insurance Services has announced the appointment of Simon Hoare as the firm’s new executive director. Hoare, who is to be based in the East Midlands, will collaborate closely with Marshall Sugden, MD of Business Development within Bluefin’s Commercial division. He will be tasked with exploiting the many opportunities of the East Midlands, as well […]



Aon launches online bulk annuity assessment

by Gill Montia

Story link: Aon launches online bulk annuity assessment

Aon Hewitt has launched an online Settlement Readiness Assessment, open to all UK defined benefit pension schemes. The test is designed to provide an overview of a scheme’s readiness to move to a bulk annuity, with the results analysed to show how close a scheme could be to taking up a de-risking solution. The firm’s […]



Guy Carpenter launches ProfitPoint+

by Gill Montia

Story link: Guy Carpenter launches ProfitPoint+

Guy Carpenter has launched ProfitPoint+, an integrated portfolio management solution designed to help insurance companies improve profitability, enhance underwriting performance and drive growth. The solution claims to deliver powerful portfolio planning and point-of-sale capabilities so insurers can set, calibrate and monitor risk management strategy, while enabling line underwriters and agents to make more informed decisions […]



October 29, 2012

SSP appoints chief technology officer

by Richard Kilner

Story link: SSP appoints chief technology officer

Global provider of general insurance technology solutions SSP has announced the appointment of Kevin Gaut as chief technology officer within the Insurer Division. Gaut brings 23 years of experience in insurance IT to the firm, and returns to SSP after working for Legal and General as head of Architecture – Savings and Investments. Gaut will […]



Marsh appoints Cyber Risk Practice leader

by Richard Kilner

Story link: Marsh appoints Cyber Risk Practice leader

Marsh has announced the appointment of Stephen Wares as the firm’s new Cyber Risk Practice leader within the Europe, Middle East and Africa (EMEA) Risk Practices group. Wares is tasked with the development of the firm’s cyber risk and insurance proposition and will collaborate closely with experts from across Marsh to provide cyber risk solutions […]



Validus reports strong Q3 and 9M results

by Richard Kilner

Story link: Validus reports strong Q3 and 9M results

Validus Holdings, Ltd. has reported its financial results for the third quarter of 2012, including net income of $207.3m, equating to net income of $2.11 per diluted common share. This is almost fourfold the $56.5m net income ($0.54 per diluted common share) the firm achieved in the corresponding period last year, and is also a […]



Aon Benfield launches flood cat model for Thailand

by Gill Montia

Story link: Aon Benfield launches flood cat model for Thailand

Aon Benfield has launched a flood model for Thailand following the country’s unprecedented flood insurance losses of 2011. According to the reinsurance intermediary, last year’s losses, which are thought to be in excess of $15 billion, were due to a rapidly changing land-use pattern, record rainfall in the northern region and seasonal high tides in […]



RSA and LV= sign motor claims agreement

by Gill Montia

Story link: RSA and LV= sign motor claims agreement

RSA and LV= have signed a bilateral agreement aimed at speeding up and streamlining motor claims processes and cutting unnecessary costs. Commenting on the deal, LV= technical claims director Martin Milliner says: “This is a great step forward to ensure fairness all round.” RSA says it remains open to talks with other insurers on the […]



Performance of global stock markets at five year high

by Gill Montia

Story link: Performance of global stock markets at five year high

The number of stock markets worldwide to have provided a positive annual return to investors has reached its highest level since 2007, according to new research by Lloyds TSB International. In September 2012, 82% of the 39 countries tracked by the bank saw an annual rise in equity prices, compared with 8% a year earlier […]



October 26, 2012

Collapse of eurozone ‘extremely unlikely’

by Richard Kilner

Story link: Collapse of eurozone ‘extremely unlikely’

Although persistent anxiety continues to surround the present and future state of the eurozone, the single currency is unlikely to collapse altogether, according to Stuart Simpson, treasurer of Lloyd’s. Simpson said that, unless Germany left the currency, it would continue to exist but might lose some members, such as Greece, Italy or Spain. Sam Dobbyn, […]



Chubb reports record Q3 results

by Richard Kilner

Story link: Chubb reports record Q3 results

The Chubb Corporation has reported that in the third quarter of 2012 it made a net income of $533m, a significant increase on the $298m it made during the corresponding period last year. Net income per share saw a similarly substantial improvement, rising year-on-year from $1.04 to $1.98. Quarterly operating income more than doubled from […]



Aviva: “squeezed middle ages” even more pressured

by Gill Montia

Story link: Aviva: “squeezed middle ages” even more pressured

Britain’s “squeezed middle ages” need an additional 32% of their income to feel financially secure, Aviva reports. Those aged between 35 and 44 are looking for an extra £612 a month (up from £596 in Spring 2012) and almost a third of this group are most worried about affording main household bills, such as heating, […]



October 25, 2012

Marsh voted best UK insurer for graduates

by Richard Kilner

Story link: Marsh voted best UK insurer for graduates

Graduates have voted Marsh the best UK insurer to work for in The Top Accounting and Insurance Companies For Graduates To Work For report, created by graduate job review site TheJobCrowd. More than 300 companies and thousands of graduates throughout the country were surveyed, with particular attention paid to certain areas such as work/life balance, […]



Beazley bolsters Singapore office

by Richard Kilner

Story link: Beazley bolsters Singapore office

Beazley has announced that it is expanding its reinsurance team into Singapore with the appointment of Ben Liang. Liang is to be based in the firm’s Singapore office, where he will write Asia Pacific reinsurance business with a particular focus on south east Asia. Prior to joining Beazley he worked for Allianz Re where he […]



Aspen reports improved Q3 results

by Richard Kilner

Story link: Aspen reports improved Q3 results

Aspen Insurance Holdings Limited has reported its financial results for the third quarter of 2012, including net income of $115.1m, up from $21.2m in Q3 2011, and diluted earnings per share of $1.45. This is a substantial improvement on the corresponding period last year when the firm made diluted earnings per share of $0.21. Year-on-year, […]