Property
Equity owner reports UK loss
Insurance Australia Group (IAG) has reported a loss of AU$7m (£4.77m) for the first half of the financial year 2012 for its UK division.
Allianz sees profits rise in UK
Allianz has reported an 11.4% rise in operating profits for its UK arm to €206m (£174.3m) in 2011, up from €185m in 2010.
RSA delivers good 2011 result but commercial continues to drag
RSA UK delivered £310m profit before tax on premiums of over £3bn in 2011 while turning in a combined operating ratio (COR) of 98.2%.
Corporate Underinsurance: Improving understanding of business interruption cover
Last year's riots brought the problem of a lack of business interruption cover to the fore. What are the solutions to underinsurance in this area?
RSA commercial chief threatens to exit unprofitable markets
RSA’s commercial chief has confirmed that he will pull out from product lines that are not working for the insurer as he continues his revamp of RSA’s commercial book.
CNA creates chief underwriting role
CNA Insurance has appointed John Taylor to the newly-created role of chief underwriting officer.
Hiscox promotes Gott to lead on art and private clients
Hiscox has announced the promotion of Justin Gott to the position of head of art and private client, Hiscox UK and Ireland.
Ageas’ chief bearish on commercial hardening
Barry Smith, chief executive of Ageas UK, has described himself as “very pleased” with the step change from loss to profit at the insurer but admitted he was not confident of seeing any commercial market hardening in 2012.
Ageas produces growth and profit across the board
Ageas has reported a huge boost in both gross written premiums (GWP) and profit for 2011 as the insurer’s Tesco deal begins to pay dividends.
Oliva management go it alone as Cooper Gay pulls capacity
Cooper Gay has pulled capacity from managing agency Oliva to focus its MGA strategy on international business.
Axa Commercial lines opens revamped trading centre
Axa Commercial Lines has relaunched its Bolton branch as a national trading centre.
Fitch rates FM Global AA for sixth year in a row
FM Global has retained its ‘AA’ rating in financial strength, and been given a ‘Stable’ outlook, for the sixth year running by Fitch Ratings.
Broker Network signs up equestrian specialist
Shearwater Insurance has become a member of Towergate-owned Broker Network.
Axa: Household claim fraud averages £607
Research by Axa has revealed that the number of people exaggerating a home insurance claim has jumped by 17% since last year, with an estimated 200,000 consumers adding an average of £607 to their claim.
Aspen attributes significant 2011 losses to natural catastrophe
Aspen Insurance Holdings has reported a net loss of $105.8m (£66.9m) producing a combined ratio of 115.6% for the full year 2011.
RSA man to lead Tokio construction practice
Tokio Marine Europe has launched a new construction practice in the UK.
Acturis and LV link produces new e-trading tool for brokers
LV Broker has embarked on a partnership with Acturis to develop LV Easytrade, a new e-trading tool for brokers.
Profits halved at Ace
Ace has reported that net income dropped by 49% to $1.59bn (£1bn) in 2011 from $3.1bn the previous year.
XL planning for construction growth with new appointment
XL Group has appointed Ian Lushington as construction underwriting manager for the UK, Ireland and Nordic region.
Arc Legal in SME deal with Swinton
Arc Legal Assistance has signed up to provide Swinton Commercial with a legal expenses policy geared towards protecting SMEs.
NIG rolls out new property cover
NIG has launched Essential Property Owners’ (EPO) cover, an SME-focused version of its Premium Property Owners’ (PPO) product.
Former Arista man heads up new Aspen venture
Aspen Risk Management has appointed former Arista regional manager, Paul Dooley to head up its new Manchester office.
Evolution agrees five year capacity deal with Allianz
Evolution Underwriting has announced the extension of its capacity arrangements with Allianz for a further five years covering property, casualty, excess of loss and motor lines.
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.