Insurer
Ray Cox lands Brit CEO role ahead of Burrows retirement
Mr Cox will replace Peter Burrows as chief executive officer of its UK strategic business unit. The appointment is effective from 1 September 2010.
RSA responds to press speculation about Aviva
RSA has confirmed that it put forward a proposal to Aviva to acquire its UK, Canadian and Irish general insurance businesses excluding RAC and Health for £5 billion in cash.
Allianz's half year results show GWP rise but profits drop
As part of Allianz’s half year results CEO Andrew Torrance has promised further double digit rate increases in private motor and said there was a “prospect of underwriting profit” in this area in 2011.
Aviva confirms rejection of RSA's £5bn GI offer
Aviva has confirmed it received a conditional proposal from RSA to acquire its general insurance (GI) businesses in the UK, Ireland and Canada excluding RAC and health for a sum of £5bn funded entirely from a rights issue by RSA.
Aviation cover on offer from Allianz
Allianz Commercial is offering an aviation products liability solution for commercial customers underwritten by the specialist aviation team at fellow Allianz SE Group member, Allianz Global Corporate & Specialty.
Aviva shares climb following reports of audacious RSA approach
According to Sky News, RSA has put in an offer to Aviva for its entire general insurance arm
Personal Finance Society appoints ‘champions’ to promote chartered status
The Personal Finance Society has appointed 21 financial planners as ‘chartered champions’ across the UK.
Lucas Fettes launches motor trade scheme for classic car market
Lucas Fettes has launched a new bespoke classic car scheme for the motor trade underwritten by Brit Insurance.
Brit nominates former Zurich chief for top financial role
Brit Insurance is set to appoint a new group chief financial officer to replace the departing Matthew Scales.
PB Week: Bringing a scheme to life
In my role I see lots of scheme propositions from brokers. Some are well established and others are in their early stages. So what makes a scheme a success?
Mervyn King warns UK economy facing “choppy” recovery
The Bank of England has cut its growth forecasts for the UK economy to around 3% for the next two years, down from its previous prediction of around 3.5%.
Beachcroft calls FSA’s PPI policy statement ‘very bad news’
Law firm Beachcroft has criticised the FSA’s policy statement on payment protection insurance.
Ace joins PowerPlace panel
Ace has joined PowerPlace’s panel of insurers and will be making its directors & officers’ product available from 24 August.
Obituary of Allan Bridgewater
Allan Bridgewater, former chairman of the Association of British Insurers, president of the Chartered Insurance Institute and leader of Norwich Union died on 5 August aged 81.
Report: motor insurance at a "crossroads"
Insurers need to change their marketing message in the personal motor market, research in the sector has revealed.
Axa launches SME product on Acturis
Axa has released a commercial combined e-trade product to brokers on the Acturis platform on an open market basis.
Zurich raids Axa for property head
Zurich UK has announced the appointment of Peter Clark as head of property and strategy exposure management, commercial lines, effective 1 October 2010.
AIG's insurance operation Chartis maintains operating income while group makes loss
American International Group’s (AIG) general insurance operation Chartis, has reported operating income before net realised capital gains of $955m for Q2 2010 (Q2 2009: $1bn).
Dual targets SMEs via e-trading
Dual Corporate Risks has launched an e-business strategy targeting small to medium enterprise business (SME).
Groupama's broking business revenue remains flat
Combined revenues of Groupama Insurance's UK broking businesses have remained relatively flat at £33.3m during H1 2010 (H1 2009: £34.1m).
Allianz P&C profits increase
Operating profit in Allianz property and casualty (P&C) operations has grown by 28.2% to €1.14bn during Q2 2010, compared to the same period last year.
RBSI reports operating loss for Q2 2010
Royal Bank of Scotland Insurance (RBSI) made an operating loss of £203m during Q2 2010, compared to a £142m profit for the same period last year.
McMillan claims fall in Aviva's GI results is due to reserves
Speaking to Insurance Age, UK general insurance CEO David McMillan said the dip in Aviva’s UK general insurance and health underwriting results and operating profit was impacted by the insurer’s decision to release less reserves.
Novae reports rise in profits
Novae Group has reported an increase in profit before tax and foreign exchange movement on non-monetary items to £13.6m during H1 2010 (H1 2009: loss of £2.1m).