Articles by Emmanuel Kenning
Profits tumble at Aspen
Aspen Insurance Holdings has revealed a 76% fall in third quarter profits to $22.2m (£13.8m) compared to the same period of 2010 when it made $92.8m.
Allianz rolls out fleet changes
Allianz has unveiled new motor fleet products in a move to separate small fleet cover from that for mid to large businesses.
Axa reveals 1% growth in UK P&C business
Axa’s results for the first nine months of 2011 have shown a small increase in UK property and casualty (P&C) revenue to €2.82bn (£2.47bn) from €2.79bn in the comparable period of 2010.
Ace posts Q3 loss
Ace has reported a net loss for the third quarter of 2011 of $31m (£19.4m) compared with a profit of $675m in the same period of 2010.
Escape of water costs home insurers £730m a year
Legal & General (L&G) has calculated that insurance claims for escape of water damage in UK homes cost the insurance industry £730m in 2010, nearly double the £370m cost of burglary claims over the same period.
ABI welcomes vote on banning referral fees
The banning of referral fees will be debated in the House of Commons next week and provided the vote is successful, will be added to Legal Aid, Sentencing and Punishment of Offenders Bill, Justice Secretary Kenneth Clarke has announced.
Ex-Axa UK CEO to chair Chaucer Syndicates
Former Axa UK chief executive officer Mark Wood has been confirmed as chairman of Chaucer Syndicates.
Axa tops Brokerbility’s satisfaction survey
The bi-annual survey of Brokerbility’s 34 member firms rating their seven key insurer partners’ performance when dealing with claims, underwriting and accounts has rated Axa Commercial top for overall satisfaction.
New ARP rules for solicitors’ PI forcing law firms to shut down
Brunel Professional Risks has declared that the 2011 solicitors’ professional indemnity (PI) insurance renewal season was notable for the low number of law firms entering the Assigned Risks Pool (ARP).
Kiln stakes claim for mobile phone insurance first
Kiln has claimed it has delivered an industry first with the launch of an insurance product to protect mobile phone users against losses arising from ID theft and unauthorised payments.
Groupama chief sacked
Groupama SA has confirmed the departure of chief executive officer Jean Azéma after 11 years as head of the mutual insurer.
Ellis Clowes looks to Axa PPP for new commercial director
Ellis Clowes & Company has appointed Karen Woodley as commercial director of the group and board director of Ellis Clowes (Commercial).
Income down at Willis UK
Willis Group has announced a 4% growth in commission and fees for the third quarter of 2011 to $755m (£472.6m) compared to $723m in the same period of 2010.
Willis promotes from within to replace McManus
Willis has appointed Daniel Wilkinson as chief executive officer for Willis United Kingdom & Ireland (WUKI).
Groupama targets PA cross selling
Groupama has released a personal accident (PA) broker toolkit in a move it said was designed to help the 61% of brokers who claimed they had difficulty selling the cover.
Mitsui Sumitomo completes regional office network
Mitsui Sumitomo at Lloyd’s has confirmed the completion of its regional office network with the opening of branches in Belfast and Glasgow.
LV appoints new leader in Exeter
LV broker has appointed Kevin Wildman to the new role of branch manager for its Exeter office.
King quits RFIB
RFIB has confirmed that chief executive officer and minority shareholder Marshall King will be leaving the company and that current group chief financial officer Jonathan Turnbull will take up the position of CEO with immediate effect.
Lord Turner calls for debate on higher FCA costs
Lord Turner, chairman of the Financial Services Authority, has called on parliament to give the Financial Conduct Authority (FCA) “the powers and teeth to act early to intervene and prevent customer detriment from occurring”.
Zurich appoints new chief underwriting officer
Zurich has appointed Nick Major as chief underwriting officer (CUO) for its global corporate in the UK (GCUK) business area, effective immediately.
Towergate losses accelerate to £21.3m
A Towergate report to bondholders for the second quarter of 2011 has revealed the broking giant lost £21.3m in the first half of 2011, up from £13.7m in the same period of 2010.
Insurance sector paying bills later
Companies in the insurance sector paid their bills an average of 19.78 days late in the third quarter of 2011, an increase of nearly 1.5 days on the previous three months, according to research from Experian.
North West top for bodily injury claims
Research from the Institute and Faculty of Actuaries has shown the North West of England to be the leading hot spot for private car insurance claims involving bodily injury.
Fears over reserving raised at AM Best conference
Delegates at the AM Best 2011 Insurance Market Briefing were warned that concern was growing about the adequacy of reserves in the UK non-life company market.