Daily Insurance Industry News
 
 
Daily Insurance Industry News
Thursday 21st of June 2018
December 18, 2012

Groupama Insurance credit rating upgraded

by Gill Montia

Story link: Groupama Insurance credit rating upgraded

Following the completion of Ageas UK’s acquisition of Groupama Insurance Company in November, Standard & Poor’s has raised Groupama Insurance’s financial strength rating to BBB with a “stable outlook”. The ratings agency took a number of factors into consideration in making its decision including the company’s good competitive position, established and diversified broker base, strong […]



December 9, 2012

Vauxhaull and Ageas strike telematics deal

by Gill Montia

Story link: Vauxhaull and Ageas strike telematics deal

Vauxhall Motors has embraced telematics car insurance in a deal with Ageas and young driver insurer, ingenie, that offers cover for 17 to 25 years olds when they purchase a car from a Vauxhall dealership. The venture will see Ageas provide the underwriting and administration capability through a joint Vauxhall and ingenie website, extending the […]



November 29, 2012

Ageas achieves fifth consecutive Gold Standard

by Richard Kilner

Story link: Ageas achieves fifth consecutive Gold Standard

Ageas has won the Incisive Media Gold Standard for Insurance for the fifth consecutive year. In 2008 Ageas became the first firm to reach the Gold Standard and has achieved it every year since. The judging panel recognised that the insurer had a clear understanding of customer needs regarding insurance and were impressed by the […]



November 14, 2012

Ageas completes Groupama acquisition

by Richard Kilner

Story link: Ageas completes Groupama acquisition

Ageas has announced that the acquisition of Groupama Insurance Company Limited has now been completed. Following the deal Ageas becomes the fifth-largest UK Non-Life insurer, fourth largest Private Motor insurer and fourth largest Personal lines insurer. Groupama Insurances is to operate a separate wholly-owned subsidiary of Ageas UK which will work alongside Ageas Insurance Limited. […]



November 7, 2012

Ageas UK achieves record profits

by Richard Kilner

Story link: Ageas UK achieves record profits

Ageas UK has reported its financial results for the first nine months of 2012, during which it made pre-tax profits of £106.7m. This is 36.4% more than the £78.3m of the corresponding period last year, and is a new record for the firm. It also follows biannual pre-tax profits of £64.1m, an 81% rise from […]



October 16, 2012

Ageas backs calls for minimum road safety standards

by Richard Kilner

Story link: Ageas backs calls for minimum road safety standards

Ageas has announced it is supporting the Road Safety Foundation’s call for the Government to have minimum road safety standards at the heart of any reform following the finance and ownership review of the major road network. The Road Safety Foundation’s annual GB EuroRAP report found that there would be significant economic rewards from low-cost […]



October 1, 2012

Ageas underwriters achieve Chartered status

by Gill Montia

Story link: Ageas underwriters achieve Chartered status

Ageas’ underwriting division has been awarded Chartered status by the Chartered Insurance Institute (CII). The insurer has met a number of criteria as set out by the CII and, in particular, the award recognises the group’s development programmes and training and competence scheme, which form part of its Underwriting Academy. The Academy, launched three years […]



September 21, 2012

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 […]



September 8, 2012

Ageas and Groupama discuss sale of UK non-life business

by Gill Montia

Story link: Ageas and Groupama discuss sale of UK non-life business

Ageas UK and Groupama SA have announced that they are in exclusive discussions regarding the sale of Groupama’s UK non-life insurance business, in a transaction that would exclude Groupama’s UK broking operations. Exclusivity has been agreed for a period of approximately four weeks and both parties will refrain from further comment until discussions have been […]



September 3, 2012

Ageas ups anti fraud measures

by Gill Montia

Story link: Ageas ups anti fraud measures

Ageas has signed up to the Syndicated Intelligence for Risk Avoidance (SIRA) anti-fraud database from Synectics Solutions. With application fraud on the rise – adding approximately £50 to customer premiums, according to Ageas – the insurer is deploying SIRA at the underwriting stage, checking information from new business proposal against known fraud data held by […]



August 8, 2012

Ageas UK reports 81% rise in profits

by Richard Kilner

Story link: Ageas UK reports 81% rise in profits

Ageas UK has reported its interim financial results for the first six months of 2012, including pre-tax profits of £64.1m. This is an 81% year-on-year rise from the £35.4m the firm made during H1 2011, and shows strong profits in Q2 following £22m pre-tax profits in Q1. Total biannual income rose 5.6% to £1,042.9m, and […]



May 28, 2012

Ageas appoints head of Household

by Richard Kilner

Story link: Ageas appoints head of Household

Ageas has announced the appointment of Craig Allen to the post of head of Household Underwriting. The former head of Household Underwriting, Stephen Linklater, becomes Ageas’ head of Motor Underwriting. In his new position Allen gains responsibility for improving the performance and profitability of the home account by managing pricing, underwriting and business development activity. […]



May 15, 2012

Ageas increases income and profit

by Gill Montia

Story link: Ageas increases income and profit

Ageas achieved an 11.1% year-on-year rise in total income in the first quarter of 2012, with gross written premiums (GWP) increasing to £513.3 million. Non-Life GWP rose by 10.8%, to £445.5 million, and protection GWP increased 71.2%, to £15 million. For the first three months of the year, profit before tax stood at £22 million […]



March 29, 2012

Ageas Protect bolsters sales leadership team

by Richard Kilner

Story link: Ageas Protect bolsters sales leadership team

Ageas Protect has bolstered its sales leadership team with the appointment of Vicky Churcher to the post of head of Sales Delivery and that of Lee Gill to the post of head of Sales Strategy. In their new positions the pair will report directly to Managing Director Darren Spriggs. The two appointments support the firm’s […]



March 6, 2012

Ageas Protect confirms two senior appointments

by Richard Kilner

Story link: Ageas Protect confirms two senior appointments

Ageas Protect has confirmed the appointment of Darren Spriggs as the firm’s new managing director and Jane Dale as finance director. Spriggs was appointed acting managing director at the start of the year, and has now been confirmed in the role on a permanent basis. He brings more than two decades of experience to the […]



February 27, 2012

The Rose Bowl to become The Ageas Bowl

by Richard Kilner

Story link: The Rose Bowl to become The Ageas Bowl

Ageas has announced a new partnership between itself and the home of Hampshire cricket, The Rose Bowl. As part of the six year deal The Rose Bowl will be rebranded as The Ageas Bowl. The venue has hosted acts including REM and Billy Joel, and last year made history as site of the first Test […]



February 20, 2012

Ageas UK enjoys strong 2011 results

by Richard Kilner

Story link: Ageas UK enjoys strong 2011 results

Ageas UK has reported its financial result for the year ended 31 December 2011, including pre-tax profits of £105m. This compares with a pre-tax loss of £24.8m the firm incurred during the previous year, a loss the firm attributed to one-off events and bad weather. Non-life gross written premiums surged by 70.1% to £1,721.3m, with […]



January 26, 2012

Ageas Protect makes senior appointments

by Gill Montia

Story link: Ageas Protect makes senior appointments

Ageas Protect has announced two key appointments to its senior management team with Scott Reid joining as head of pricing & reinsurance and Richard Halley taking up the post of partnership development manager. Mr Reid brings with him actuarial and reinsurance experience gathered from various jobs with Aon Benfield, Scor, Gen Re, and Scottish Widows. […]



January 9, 2012

Ageas appoints RIAS and Castle Cover MD

by Richard Kilner

Story link: Ageas appoints RIAS and Castle Cover MD

Ageas has announced the appointment of Peter Corfield as the managing director of Ageas Retail’s companies RIAS and Castle Cover. Corfield brings to his new position a strong track record managing insurance companies, and has experience in the UK, Europe and the Middle East working for firms such as Zurich and the RBS Group. Managing […]



November 9, 2011

Ageas UK reports excellent Q3 results

by Richard Kilner

Story link: Ageas UK reports excellent Q3 results

Ageas UK has reported its financial results for the third quarter of 2011, including pre-tax profits of £78.3m. This is more than quadruple the £16.6m the firm made in the corresponding period last year, and follows a similarly improved biannual result. Total income rose by 88.6% to £1,358.2m, with gross written premiums up 88.5% to […]