Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 18th of November 2018
August 16, 2012

Zurich reports interim profits

by Richard Kilner

Story link: Zurich reports interim profits

Zurich Insurance Group has reported a business operating profit of $2.5bn during the first six months of 2012. This is a healthy increase on the $2.1bn the firm made during the corresponding period last year. Biannual net income attributable to shareholders also improved, year-on-year, from $2bn to $2.2bn. Quarterly business operating profit was $1.1bn, a […]



Scottish Widows Investments appoints director of equities

by Gill Montia

Story link: Scottish Widows Investments appoints director of equities

Scottish Widows Investment Partnership (SWIP) has appointed William Low as director of equities. The move follows the repositioning of the firm’s equities strategy and in his new role Mr Low has overall responsibility for the global equity, specialist equity, dealing and governance teams. He joined SWIP from BlackRock in April 2011, since when he has […]



August 15, 2012

LV= launches personalised careers website

by Gill Montia

Story link: LV= launches personalised careers website

LV= has developed a new careers website based on a user’s location. The content of the site is determined by the LV= office closest to a job seeker’s location and includes film footage and specific articles, in addition to providing a unique list of available jobs. The technology works by identifying the user’s whereabouts via […]



AXA renews GAB Robins contract

by Gill Montia

Story link: AXA renews GAB Robins contract

AXA has confirmed the renewal of its commercial property loss adjusting contract with GAB Robins. The deal, which covers claims up to £250,000 in value, will run for three years. The insurer has also revealed that it has a number of strategic claims projects underway aimed at enhancing delivery for its commercial property brokers and […]



August 14, 2012

Munich Re acquires UK wind farms

by Gill Montia

Story link: Munich Re acquires UK wind farms

Munich Re has acquired three UK wind farms via its wealth management arm, MEAG. The portfolio, which has a total capacity of 102 megawatts, comprises TIR Mostyn in North Wales (21 MW capacity), Scout Moor near Manchester (65 MW) and Bagmoor in Lincolnshire (16 MW). Scout Moor, which is one of the largest onshore wind […]



Markel reports strong H1 and Q2 results

by Richard Kilner

Story link: Markel reports strong H1 and Q2 results

Markel Corporation has reported its financial results for the second quarter of 2012, including diluted net income per share of $8.42. This is well over double the $3.11 diluted net income per share the firm achieved in the corresponding period last year, and is also significantly higher than the $5.92 diluted net income per share […]



Standard Life’s H1 profits on the rise

by Richard Kilner

Story link: Standard Life’s H1 profits on the rise

Standard Life has reported its financial results for the first six months of 2012, during which the firm made pre-tax operating profits of £302m. This is a 15% rise compared to the corresponding period last year when the firm made £262m. IFRS profits after tax (attributable to equity holders) for the first six months of […]



Aviva pilots pay-how-you-drive insurance

by Gill Montia

Story link: Aviva pilots pay-how-you-drive insurance

Aviva is proposing to use smartphone technology to create individual driver profiles that will be used to calculate tailored “pay-how-you-drive” premiums. Aviva RateMyDrive, which is about to enter its next trial stage, monitors motorists for 200 miles, including acceleration, braking and cornering. The data is then turned into an individual score which helps determine the […]



August 13, 2012

Hiscox appoints head of analytics

by Gill Montia

Story link: Hiscox appoints head of analytics

Dr Michael Palmer has been appointed as head of analytics and research for Hiscox’s Bermuda operation. He will report to Damien Smith, the insurer’s Bermuda underwriting director, and will take responsibility for the analytics team in Bermuda, helping to develop the company’s understanding of all aspects of catastrophe risk. Having originally joined Hiscox’s London office […]



Allianz appoints innovation manager

by Gill Montia

Story link: Allianz appoints innovation manager

Allianz Insurance has promoted Robin Stagg to the post of innovation manager. In his new role, he will work as part of the group’s strategic innovation unit, developing and implement the insurer’s innovation strategy while at the same time ensuring that latest research is taken on board. Mr Stagg joined Allianz’s claims management graduate programme […]



LV= announces tennis sponsorship

by Gill Montia

Story link: LV= announces tennis sponsorship

LV= has announced that it is now an associate sponsor of Statoil Masters Tennis, the prestigious legends event which takes place at the Royal Albert Hall in December. The event brings together many of the greatest tennis players of all time to compete in a special setting – John McEnroe, Goran Ivanisevic, Pat Cash and […]



Swiss Re results hit by sale loss

by Richard Kilner

Story link: Swiss Re results hit by sale loss

Swiss Re has reported that in the second quarter of 2012 it made a net profit of US$83m (this result is affected by a loss of $1bn on the sale of the Admin Re® US business). The result compares poorly to the corresponding period last year when the firm made a net income of $960m, […]



Aviva: lack of protection impacts UK business

by Gill Montia

Story link: Aviva: lack of protection impacts UK business

UK businesses are being hindered by a lack of effective sickness absence management, according to a new report from Aviva. The study highlights just what it means to have an absent employee, with 40% of employers questioned saying someone else has to pick up their work; 27% admitting that productivity falls, 22% believing that absences […]



August 12, 2012

Friends enhances critical illness offering

by Gill Montia

Story link: Friends enhances critical illness offering

Friends Life has enhanced coverage on a number of its critical illness policies by adding new conditions, enhanced ABI+ definitions and removing restrictions on pay-outs linked to terminal illnesses. New conditions covered are: Sudden Cardiac Arrest, Pituitary Tumour, Cerebral Arteriovenous Malformation and Cerebral Aneurysm. Childs Hydrocephalus has also been added for children. In addition, Sudden […]



AEGON makes senior appointments

by Gill Montia

Story link: AEGON makes senior appointments

AEGON has appointed C Michiel van Katwijk as chief financial officer for the Americas, and Darryl Button as executive vice president and head of its corporate financial center. Mr Button, who joined the insurer in 1999 and is currently chief financial officer of AEGON Americas, will relocate to The Hague where he will lead the […]



August 10, 2012

MMC achieves improved Q2 and H1 profits

by Richard Kilner

Story link: MMC achieves improved Q2 and H1 profits

Marsh & McLennan Companies, Inc. (MMC) has reported its financial results for the second quarter of 2012. In the three months ended 30 June 2012 the firm made net income of $329m, up from the $282m of the corresponding period last year but slightly down on the $347m MMC made in Q1 2012. Quarterly consolidated […]



Congregational & General appoints chairman

by Gill Montia

Story link: Congregational & General appoints chairman

Congregational & General has announced the appointment of Harry Driver as company chairman, following David Collett’s retirement from the role. Mr Driver, who has more than 40 years’ experience in the insurance industry, has been a non executive director of the firm, which specialises in home and places of worship insurance, for over five years. […]



August 9, 2012

XL reports solid Q2 results

by Richard Kilner

Story link: XL reports solid Q2 results

XL Group plc has reported its financial results for the second quarter of the year, including net profits of $221.2m, equating to $0.71 per share. Year-on-year, the firm’s net income has remained essentially unchanged, with only a marginal difference from the net income of $226m ($0.69 per share) the firm achieved in Q2 2011. Compared […]



August 8, 2012

LV= launches apprenticeship programme

by Gill Montia

Story link: LV= launches apprenticeship programme

LV= has launched a financial services apprenticeship programme for customer service teams working within its life insurance and retirement solutions business. The programme is governed by the National Skills Academy for Financial Services (NSAFS) and will be delivered at LV=’s Bournemouth, Exeter and Hitchin offices. It is tailored to the requirements of each office, marking […]



Role changes at AXA UK

by Gill Montia

Story link: Role changes at AXA UK

As previously announced, AXA UK is combining its commercial lines and personal intermediary operations into a single organisation, under the leadership of Amanda Blanc. The integration should be completed by October and to facilitate the process a number of roles have been changed internally as follows: Karen Hogg has been appointed as managing director of […]