Daily Insurance Industry News
 
 
Daily Insurance Industry News
Thursday 15th of November 2018
July 26, 2011

Willis Australasia names CEO and chairman

by Richard Kilner

Story link: Willis Australasia names CEO and chairman

Global insurance broker Willis Group Holdings plc has announced the appointment of Scott Pickering to the role of chairman of Willis Australasia. Pickering, who will retain his position as president of Willis’ Asia Pacific, Middle East and Africa operations, joined the firm last year, leaving behind his role as regional chief executive officer of Asia […]



Brit profits plummet to £6.8m

by Gill Montia

Story link: Brit profits plummet to £6.8m

Brit Insurance saw first-half 2011 pre-tax profit plummet to £6.8 million, from £77.5 million a year earlier, having faced an unprecedented number of catastrophe events in the first six months of the year. The re/insurer recorded a 2.1% rise in gross written premium, to £845.3 million, and its combined ratio stood at 104.8% (30 June […]



AXA trading on PowerPlace

by Gill Montia

Story link: AXA trading on PowerPlace

AXA Commercial Lines has launched its tradesmen and professional liability products on PowerPlace, the online commercial insurance marketplace. Policies are available to the self-employed and small businesses of up to eight persons with a turnover of £500,000 or less. Public liability and temporary staff cover (for up to 50 man days in any period of […]



July 25, 2011

BGL Announces Changes at the Top

by Brian Turner

Story link: BGL Announces Changes at the Top

BGL Group has today announced the appointments of Kal Atwal and Martin Overton to the main Board as part of a restructure that establishes four operating groups. The changes come as the company gears up for the next phase of its growth. Kal Atwal, who joined BGL in 2001, is promoted to Group Director, Brand-led […]



ING sells Insurance Latam for €2.7bn

by Richard Kilner

Story link: ING sells Insurance Latam for €2.7bn

ING is to sell its Latin American pensions, life insurance and investment management operations to Grupo de Inversiones Suramericana (GRUPOSURA). The total sum involved is around €2.68bn and marks a first milestone in ING’s plan to divest its insurance and investment management operations. ING is to receive €2,615m in cash, with the remaining €65m being […]



ABI warns against announcing holiday plans

by Richard Kilner

Story link: ABI warns against announcing holiday plans

The 35 million Britons who utilise social media sites are being urged not to disclose their holiday plans by the Association of British Insurers (ABI). Estimates suggest up to a third of people who use such websites disclose their plans online, providing free and useful information to eagle-eyed thieves. Last year the peak of the […]



LIU Europe appoints French EIL underwriter

by Richard Kilner

Story link: LIU Europe appoints French EIL underwriter

Liberty International Underwriters in Europe (LIU Europe) has announced the appointment of Audrey Mondin as Environmental Impairment Liability (EIL) underwriter. Mondin, who is to be based in the firm’s Paris office, will help the firm to capitalise upon rising demand in the EIL market in France. Mondin will report directly to Head of Casualty/General Liability […]



Surprise resignation of CFS chief executive

by Gill Montia

Story link: Surprise resignation of CFS chief executive

Last week’s announcement by Co-operative Financial Services (CFS) that it is in talks with Royal London regarding the possible sale of its life insurance business has been followed by the surprise resignation of its chief executive, Neville Richardson, who says he is moving on to seek new challenges. Mr Richardson joined CFS is August 2009 […]



July 24, 2011

LV= scoops contact centre award

by Gill Montia

Story link: LV= scoops contact centre award

LV= has won the “UK Customer Experience” award in the Professional Planning Forum’s new large contact centre category. The Forum promotes best practice and professionalism in contact centre planning and the mutual insurer’s centres in Bournemouth, Croydon and Bristol were judged against five performance areas: customer strategy, business results, staff engagement, originality and innovation, and […]



July 23, 2011

Ageas and Cardinus strike risk management deal

by Gill Montia

Story link: Ageas and Cardinus strike risk management deal

Ageas has partnered with risk management specialists, Cardinus, to provide a package of online risk management solutions for its commercial policyholders and brokers. As part of the deal, all commercial policyholders who take up or renew an Ageas policy are eligible for a £100 voucher that can be redeemed against Cardinus’ risk assessment or e-learning […]



Aon appoints Singapore-based head broker

by Gill Montia

Story link: Aon appoints Singapore-based head broker

Aon Risk Solutions has appointed Nicki Tilney as head broker of construction, power and infrastructure at its global broking centre in Singapore. The centre is one of Aon’s hubs around the world for insurance placement and allows clients access to insurance markets outside their immediate geography. Ms Tilney, who has over 20 years of experience […]



Lloyd’s and Aon team with bedbug offering

by Gill Montia

Story link: Lloyd’s and Aon team with bedbug offering

Lloyd’s underwriters have teamed up with insurance broker Aon and Global Excess Partners, an innovator in new insurance products, to develop a comprehensive bedbug insurance solution for travellers and the hospitality industry. According to Lloyd’s, bedbug infestations are on the rise, causing hotel owners, landlords and businesses major problems. High levels of infestation have been […]



Brits seen as a danger on European roads

by Gill Montia

Story link: Brits seen as a danger on European roads

European motorists think Brits abroad are a danger on their roads, according to AXA. In its annual holiday driving survey, the insurer estimates that around seven million Britons are likely to be driving abroad this summer but the research indicates that only one in five Europeans think Brits drive carefully outside the UK. The biggest […]



July 22, 2011

Chubb Q2 profits hit by catastrophes

by Richard Kilner

Story link: Chubb Q2 profits hit by catastrophes

The Chubb Corporation has reported that in the second quarter of the year it made net income of $419m. This is a decline of $99m from the corresponding period last year and $90m from the immediately preceding quarter. Net income per share fell from $1.59 last year to $1.42 in Q2 2011. Operating income fell, […]



Beachcroft and Davies Arnold Cooper agree merger

by Gill Montia

Story link: Beachcroft and Davies Arnold Cooper agree merger

Beachcroft LLP and Davies Arnold Cooper LLP have agreed a merger. The insurance litigation specialists are finalising details of the deal and will launch as DAC Beachcroft LLP on 1st November 2011. The combined firm will have a network of offices in the UK and an international capability covering Europe, Latin America, North America and […]



Beazley posts $24.2m interim loss

by Gill Montia

Story link: Beazley posts $24.2m interim loss

Specialist insurer, Beazley, recorded a pre-tax loss of $24.2 million in the six months to the end of June, compared with a profit of $115.5 million in the same period of 2010. The firm saw gross written premiums fall by 1.7% in the first half, to $924.8 million, but with no rate change on renewal […]



Commercial space sector boost expected

by Gill Montia

Story link: Commercial space sector boost expected

The end of the US space shuttle programme could boost the commercial space sector, providing extra business for insurers, according to Simon Clapham, space underwriter at Liberty Syndicates. Few space shuttle payloads have been insured since the Challenger disaster in 1986, after which commercial cargo was no longer transported on the shuttle. However, Lloyd’s underwriters […]



July 21, 2011

Guy Carpenter allies with EagleEye

by Richard Kilner

Story link: Guy Carpenter allies with EagleEye

Global risk and reinsurance specialist Guy Carpenter & Company has announced that it has formed an alliance with EagleEye Analytics, Inc., a provider of predictive analytics solutions to the property and casualty insurance industry. Guy Carpenter customers will benefit from the deal as the two firms collaborate closely to enable them to more effectively segment, […]



Insurers ready for commercial space race

by Richard Kilner

Story link: Insurers ready for commercial space race

After 135 missions, the NASA space shuttle programme has come to the end of its life, but commercial firms are already champing at the bit to enter the space race. Underwriters at Lloyd’s are also looking at providing such firms with the unusual insurance they will need for appropriate coverage in space. In the interim […]



Helphire and Hastings renew terms

by Gill Montia

Story link: Helphire and Hastings renew terms

Accident assistance group, Helphire, has announced the renewal of terms with Hastings, to provide the insurer’s motor insurance customers with replacement vehicle services in the event of non-fault accidents. The parties have had a similar arrangement over the past two years and Helphire group managing director, Martin Ward, comments: “Hastings is an innovative company with […]