Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 21st of October 2017
October 29, 2012

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 […]



October 19, 2012

RSA scoops employee engagement award

by Gill Montia

Story link: RSA scoops employee engagement award

RSA has scooped the award for employee engagement at this year’s Chartered Institute of Personnel and Development (CIPD) People Management Awards, after demonstrating an “impressive array” of tactics. According to CIPD, five years’ ago RSA was experiencing low morale, generating disappointing financial returns and struggling to recruit the right talent. However, by recognising the capability […]



September 6, 2012

RSA appoints non-executive director

by Gill Montia

Story link: RSA appoints non-executive director

RSA has appointed Hugh Mitchell to its board as a non-executive director, as of 26th September 2012. Mr Mitchell is currently chief human resources and corporate officer at Royal Dutch Shell, where he has had a long and successful career. According to RSA chairman, John Napier, he will bring “valuable experience and insights to the […]



August 16, 2012

RSA appoints investor relations director

by Gill Montia

Story link: RSA appoints investor relations director

RSA has appointed Matt Hotson as investor relations director. Mr Hotson will join the group in early September from Cable & Wireless Worldwide, where he is responsible for corporate finance and investor relations. He was previously director of investor relations and strategy at Legal & General. Welcoming the appointment, RSA group chief financial officer, Richard […]



July 24, 2012

RSA partners John Lewis Insurance

by Gill Montia

Story link: RSA partners John Lewis Insurance

RSA has been appointed to provide pet, wedding & event and home insurance for John Lewis Insurance, following a competitive tendering process. The insurer will begin underwriting wedding & event and pet products from today and home insurance from January 2013. RSA personal lines managing director, Mark Christer, comments: “John Lewis Partnership is deservedly one […]



July 19, 2012

RSA hit by £50m UK weather claims

by Gill Montia

Story link: RSA hit by £50m UK weather claims

Following the wettest June on record in the UK, RSA estimates that the net loss across its UK household, motor and commercial property portfolios from last month’s adverse weather is around £40 million. In addition, the impact on the insurer’s balance sheet of the continued rainfall to date in July will be around £10 million. […]



May 3, 2012

RSA reports 5% rise in GWP

by Gill Montia

Story link: RSA reports 5% rise in GWP

RSA achieved a 5% year-on-year rise in gross written premiums in the first quarter of 2012, to £2.2 billion. Growth was driven by a 4% rate and a 1% volume increase and was led by emerging markets, with Latin America turning in an “excellent” performance. In addition, performances seen in personal lines in Canada and […]



May 12, 2011

RSA reports 8% Q1 rise in NWP

by Gill Montia

Story link: RSA reports 8% Q1 rise in NWP

In the first quarter of 2011, RSA achieved an 8% year-on-year increase in net written premiums, to £2.1 billion. Growth was driven by 4% rate and 5% from deals and acquisitions, offset by a 1% reduction in volumes. The group says it saw strong performances in Canada and Ireland (supported by prior year acquisitions) and […]



April 28, 2011

RSA acquires Oak Underwriting

by Gill Montia

Story link: RSA acquires Oak Underwriting

RSA has acquired Oak Underwriting, described as an established and fast-growing underwriting agency specialising in high net worth insurance. Based in the Cotswolds, Oak is solely dedicated to the high net worth market, writing business on behalf of Brit and Chaucer. The firm had gross assets of around £7 million as at 30th June 2010 […]



April 27, 2011

Aviva tops European green companies’ list

by Gill Montia

Story link: Aviva tops European green companies’ list

Aviva has emerged as the “greenest” of Europe’s 300 largest companies, according to the Environmental Investment Organisation (EIO). The UK-based independent research body places Dutch firm, Aegon, in second place and RSA at number seven. Having just launched the Europe 300, the body says it will be rolling out further regional rankings in the coming […]



November 4, 2010

RSA reports 10% rise in NWP

by Gill Montia

Story link: RSA reports 10% rise in NWP

In an Interim Management Statement, RSA has reported net written premiums (NWP) of £5.53 billion for the nine months to 30th September 2010, an increase of 10% compared with the same period of 2009. International NWP increased 8%, (with emerging markets business leaping 19%) to £2.65 billion, and the UK saw a rise of 10%, […]



October 5, 2010

RSA acquires Canada’s GCAN

by Gill Montia

Story link: RSA acquires Canada’s GCAN

RSA has acquired Canadian firm, GCAN Insurance. The mid-market, large risks & specialty commercial insurer offers a range of products, including Property, Liability and Motor. It has a strong track record of profitability, with a combined operating ratio of 81% and gross written premiums of £57 million in 2009. The transaction, which is subject to […]



September 28, 2010

RSA launches Mini Fleet policy

by Gill Montia

Story link: RSA launches Mini Fleet policy

RSA has launched a product created specifically for owners and operators of small business fleets. The new Mini Fleet policy can provide cover for fleets of between two and 15 vehicles (which need to be predominantly for business use) including cars, vans, small trucks, trailers and forklifts. Brokers can access the offering via several e-trading […]



August 16, 2010

Aviva confirms rejection of £5bn RSA bid

by Gill Montia

Story link: Aviva confirms rejection of £5bn RSA bid

Aviva has confirmed that in late July, the company received a conditional proposal from RSA to acquire its general insurance (GI) businesses in the UK, Ireland and Canada (excluding RAC and Health), for £5 billion, to be funded entirely from a rights issue by RSA. Having recently completed a strategic review, the insurer concluded that […]



August 5, 2010

RSA reports 9% rise in NWP

by Gill Montia

Story link: RSA reports 9% rise in NWP

RSA recorded a 9% rise in net written premiums in the first half of 2010, to £3.8 billion, although pre-tax profit increased only slightly on the previous six month period, to £302 million. In the UK premiums were up by 9% to £1.5 billion: personal premiums rose 10% to £0.6 billion, with motor increasing 14% […]



July 29, 2010

RSA expands in Ireland with 123 Money acquisition

by Gill Montia

Story link: RSA expands in Ireland with 123 Money acquisition

RSA is acquiring 123 Money Limited, a fastest-growing direct distributor of personal lines insurance products in Ireland. Founded in 2002 and trading as 123.ie, the Dublin-based firm offers motor, home and pet insurance. It employs almost 200 staff, has around 170,000 policyholders and generated premium income of about €60 million in the year to the […]



July 14, 2010

RSA expands Renewable Energy team

by Gill Montia

Story link: RSA expands Renewable Energy team

RSA has expanded its Renewable team with the appointment of Soledad Vitale as a Renewable Energy underwriter. The group now has three such underwriters, providing clients with a dedicated resource for advice and cover. Previously working for Marsh’s Argentinian operations, Ms Vitale moved to the UK to take up a post as underwriter for Construction, […]



September 15, 2009

Rumours of £600m acquisition by RSA

by David Masters

Story link: Rumours of £600m acquisition by RSA

UK-based insurer RSA is mulling over acquisitions worth up to £600 million, industry analysts claimed Monday. Analysts at research firm Keefe, Bruyette & Woods (KBW) said RSA is considering “recently emerged opportunities that could be larger than ‘bolt-on’ acquisitions”. Potential investments include “UK marine and specialist commercial lines, Latin American and Canada,” KBW said. RSA […]



September 1, 2009

RSA protects business travellers with new alliance

by Gill Montia

Story link: RSA protects business travellers with new alliance

RSA has formed an alliance with First Assist and Drum Cussac, both of which specialise in medical and security assistance. The agreement will bolster RSA’s personal accident and business travel offering by reducing exposure to medical and security risks. The group’s personal accident manager, Toni LePine, comments: “In the current climate of heightened security risks […]



August 12, 2009

RSA warns builders to protect halted sites

by David Masters

Story link: RSA warns builders to protect halted sites

Construction projects put on hold because of the recession should be adequately protected, insurance firm RSA said this week. RSA said construction firms must take better care of temporarily suspended construction sites or face an increased risk of damage. Sites that fail to follow advice given by their insurance firm will not be insured if […]