Insurer
Market moves: A good month for the management
It’s well into the new year but the insurance industry is certainly still ringing the changes. As usual, there were moves between rival companies, with Willis losing a COO to Aon, and Lifestyle Services dipping into Ace for a new CEO.
Reportage: Looking to liability
As the nature of risks facing many businesses and industries changes drastically, brokers could break into areas traditionally dominated by liability specialists, writes Emmanuel Kenning
Protecting clients’ assets
The industry needs to get up-to-speed over new rules governing client assets, explains David Roberts
Are you a visionary or a strategist?
Really successful businesses are led by visionaries or strategists, but the UK insurance industry seems to be lacking both, says Tony Cornell
The tide is turning
Brokers are slowly realising the potential of schemes to boost profits, explains Tony Bloomer
Groupama up for grabs
Speculation continues to surround the sale of French insurance giant’s UK operations
Whittington heads out from London
Lloyd’s-based managing general agent, Whittington Capital Management Syndicate 2525, has appointed Stephen Fitzgerald to develop business in the UK regions that is not currently accessed through the Lloyd’s broker channel.
Laspo bill delayed until April 2013
The Jackson reforms will not be implemented until April 2013, the government has announced.
ABI refuses to renew statement of principles for flood insurance
The Association of British Insurers (ABI) has hit out at the government and said it would not renew the statement of principles for flood insurance as it was supposed to be a short-term measure and grossly distorted the market.
MPs criticise government over flood defences
The Commons Public Accounts Committee has criticised the government over flood defences and urged the Association of British Insurers to renew its statement of principles on flood insurance.
Leroy completes MBO of Europe Assistance Holdings
Patrick Leroy, chief executive of Europe Assistance Holdings, has completed a management buyout of the firm.
Standard & Poor’s outlook for insurers remains negative
Standard & Poor’s (S&P) has reaffirmed the credit ratings of Allianz, Aviva and Axa groups but warned the long term outlook for all three was negative mainly as a result of the Eurozone crisis.
Premiums rise as profits fall at Chubb
Chubb has reported net income in Q4 2011 of $452m (£287.7m) down from $620m in the same period of 2010.
A Festivus for the rest of us
A couple of years ago I bought a bank. You probably did too. Ever since I have been paying out generous bonuses, none more so than the £1m I gave to Stephen Hester yesterday for kindly running the Royal Bank of Scotland so well.
Insurance companies lagging behind in payments
UK firms improved their overall payment performances in the final quarter of 2011, but insurance companies did not follow this trend, figures from Experian have revealed.
New London sales chief for Axa
Axa Commercial Lines has appointed Ryan Birbeck as its new London sales manager.
Thoresen urges FCA to tone down the rhetoric
Otto Thoresen, director general of the Association of British Insurers (ABI), has called on the Financial Conduct Authority (FCA) to engage with balanced rhetoric to head of a confrontational relationship with the industry.
RSA reveals 120 jobs at risk in UK business review
RSA has confirmed to sister title PostOnline that 120 jobs are at risk in a review of its UK business.
Zurich wins Chartered Insurer status
Zurich has been granted Chartered Insurer status by the Chartered Insurance Institute (CII).
Aviva considering tied agent model in Ireland
Aviva has told staff in Ireland that it is considering selling some branches while others may be used in a franchise model, according to reports in the Irish press.
Towergate reveals capacity deals with Brit and Allianz
Towergate Commercial Underwriting (TCU) has announced a five-year capacity deal with Allianz providing 70% and Brit the remaining 30%.
ULR parent reports £3m loss
Motorplus, parent company of Norwich-based ULR, has reported an operating loss of £3.4m for the year ending 31 August 2010.
Quindell adds to insurance business with Ai Claims deal
Quindell Portfolio, a software outsourcing specialist, has acquired 29.9% of Ai Claims Solutions.
QBE maintains rating status despite profit warning
Credit rating agencies Fitch and AM Best have both reaffirmed their ‘excellent’ level ratings on QBE following it announcement on 12 January that group profits would be up to 50% lower than the $1.3bn (£834m) announced in 2010.