Daily Insurance Industry News
 
 
Daily Insurance Industry News
Monday 24th of September 2018
February 22, 2012

Marsh sums up geo-political risk for global energy firms

by Gill Montia

Story link: Marsh sums up geo-political risk for global energy firms

Despite the recent period of geo-political turmoil, many economies are presenting increased growth opportunities for global energy firms, claims Marsh. On its latest Political Risk Map, Brazil, Bolivia, Chile, Colombia, Indonesia, Mexico, Peru, Russia, Thailand, Turkey and Uruguay are highlighted as economies with potential, given certain improvements in their legal and regulatory regimes. Higher-risk countries […]



MPs call for “Presumption of Death” Act

by Gill Montia

Story link: MPs call for “Presumption of Death” Act

The House of Commons Justice Committee is calling for new legislation to help families when someone goes missing. MPs want a “presumption of death act”, modelled on existing legislation in Scotland and Northern Ireland, to clarify the legal position of spouses and others who might otherwise suffer serious financial consequences over an unexplained disappearance. Having […]



February 21, 2012

CNA appoints chief underwriting officer

by Richard Kilner

Story link: CNA appoints chief underwriting officer

CNA Insurance Company Limited has announced the appointment of John Taylor as the firm’s new chief underwriting officer, with immediate effect. In his newly created position Taylor will be directly responsible to CNA Europe Chief Executive Officer John Hennessy. Taylor will be tasked with supervision of CNA Europe’s underwriting across Marine, Casualty, Property and Financial […]



Aviva puts new spin on family protection sales

by Gill Montia

Story link: Aviva puts new spin on family protection sales

Aviva has revamped its support to advisers to help them overcome barriers in selling family protection. The insurer wants advisers to emotionally engage with consumers by focusing on the positive aspects of family life and opening up conversations around “What makes your family special?”. By switching the emphasis from protection products to family life, they […]



ATMs, smartphones and TVs could unlock pension top-up potential

by Gill Montia

Story link: ATMs, smartphones and TVs could unlock pension top-up potential

The UK’s pensions providers need to find new ways for people to top up and manage their pension payments, according to research from Friends Life. A study for Friends by the Future Foundation indicates that millions of Britons are keen to pay into their pensions using an ATM, making deposits in cheques, cash and by […]



AXA promotes stress-busting in car sticky patches

by Gill Montia

Story link: AXA promotes stress-busting in car sticky patches

With one in ten motorists regularly stressed behind the wheel, AXA has been looking into soothing techniques. According to the insurer’s research, having a cuppa topped the motorist’s stress-busting list but is hardly an option when stuck in a traffic jam, being tailgated or feeling rushed. More feasible is something that doesn’t distract but can […]



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 […]



February 19, 2012

AEGON secures €12 billion capital market longevity solution

by Gill Montia

Story link: AEGON secures €12 billion capital market longevity solution

Deutsche Bank says it has completed a €12 billion longevity swap with AEGON in a transaction that is the first of its kind because it is targeted directly to the capital markets. The deal therefore represent a step forward in helping pension funds and insurance companies provide solutions for an ageing population. By distributing the […]



L&G enhances critical illness cover

by Gill Montia

Story link: L&G enhances critical illness cover

Legal & General’s group critical illness cover now includes cover for aplastic anaemia, bacterial meningitis, cardiomyopathy, encephalitis and liver failure. In addition, the insurer has adjusted the survival period for most illnesses from 30 to 14 days and is increasing the value of support available to claimants. Their maximum benefit can now be up to […]



February 17, 2012

Miller announces brace of appointments

by Richard Kilner

Story link: Miller announces brace of appointments

Miller has announced that it is bolstering its political risk, trade credit and political violence capabilities with the appointments of James Cunningham and Ewan Wauchope. Cunningham joins the firm from Marsh, and brings two decades of experience in the insurance industry, as well as expertise in the creation and placement of structured trade credit and […]



Navigators profits fall in Q4 and 2011

by Richard Kilner

Story link: Navigators profits fall in Q4 and 2011

The Navigators Group, Inc. has reported its financial results for the quarter and year ended 31 December 2011. Quarterly net income was $10.1m, equating to $0.70 per diluted share, down from $17.3m ($1.07 per diluted share) in the corresponding period last year and $13.9m ($0.92 per diluted share) in Q3 2011. Operating earnings for the […]



AEGON uplifts UK CEO

by Gill Montia

Story link: AEGON uplifts UK CEO

AEGON has appointed its UK chief executive officer, Adrian Grace, to its management board. Most recently, Mr Grace has been responsible for leading the transformation taking place at AEGON UK, as it repositions its business. A centrepiece of the restructure was achieving a reduction in operating costs of 25% by end 2011, and refocusing the […]



Investors more focused on income

by Gill Montia

Story link: Investors more focused on income

Investment professionals are seeing an increased focus on income among clients across most asset classes, according to new research from Aviva. In a recent survey, Aviva Investors’ multi-manager team asked fund managers based in the UK, US, Europe, Asia and Latin America for their views on the macro-economic environment, return expectations and client behaviour in […]



February 16, 2012

UK is whiplash capital of Europe

by Richard Kilner

Story link: UK is whiplash capital of Europe

Price comparison website Tiger.co.uk has welcomed the increased focus upon whiplash as a driving factor in rising motor insurance premiums. Transport Secretary Justine Greening has recently declared the UK the whiplash capital of Europe, as the nation sees more than 1,500 claims a day. Over the last 10 years the figures for deaths and seriously […]



RSA reveals £9.8bn cost of yob culture

by Richard Kilner

Story link: RSA reveals £9.8bn cost of yob culture

Commercial insurer RSA has published new research that reveals that yob culture cost British businesses £9.8bn in 2011. Even more worryingly, the projected cost of yob culture for UK firms in 2012 is a third again higher than the 2011 figure. The average cost of yobbish behaviour, which afflicted one in five British businesses last […]



L&G’s With Profits bonus up 11.6%

by Gill Montia

Story link: L&G’s With Profits bonus up 11.6%

Legal & General’s With Profits fund returned 1.7% (before tax) in 2011 and the group has confirmed that it can maintain annual bonus rates at last year’s levels for conventional endowment mortgage customers, and for the majority of its bond and unitised pensions customers. Total bonuses of £459 million have been added to With Profits […]



Guy Carpenter completes Japan earthquake catastrophe bond

by Gill Montia

Story link: Guy Carpenter completes Japan earthquake catastrophe bond

Guy Carpenter’s securities unit has placed the first Japan earthquake-only earthquake catastrophe bond since the Tohoku event almost a year ago. The transaction involves a notional principal of $300 million, through a newly-created catastrophe bond shelf programme, Kibou Ltd. The bond will ultimately benefit ZENKYOREN (Japan’s national mutual insurance federation of agricultural cooperatives), which was […]



Margaret Cole to quit FSA

by Gill Montia

Story link: Margaret Cole to quit FSA

Margaret Cole is quitting her job at the Financial Services Authority (FSA) later this year. Ms Cole joined the FSA in 2005 as director of enforcement and currently holds the post of interim managing director, Conduct Business Unit. Commenting on her departure, she says: “I joined the FSA to help in the fight against wrongdoing […]



February 15, 2012

Aspen appoints interim CFO

by Richard Kilner

Story link: Aspen appoints interim CFO

Aspen Insurance Holdings Limited has announced that it is beginning a search for a new chief financial officer to replace Richard Houghton, who is to leave the firm on 29 February. Chief Risk Officer Julian Cusack will assume the position of acting chief financial officer until a permanent successor is appointed. Cusack formerly held the […]



Willis’ profits fall in 2011

by Richard Kilner

Story link: Willis’ profits fall in 2011

Global insurance broker Willis Group Holdings plc has reported its results for 2011 and Q4 of that year, including quarterly net income of $39m, equating to $0.22 per diluted share. This compares to $98m, $0.57 per diluted share, in the corresponding period last year, and $60m, $0.34 per diluted share, in Q3 2011. Total quarterly […]