Insurer
Ecclesiastical to push COR below 98%
Group chief executive Michael Tripp said he was focused on reducing volatility and getting Ecclesiastical's combined operating ratio (COR) below 98%.
Significant scale change pleases Ageas chief
Barry Smith, chief executive of Ageas UK, has claimed the insurer is on track to break the 100% combined operating ratio (COR) barrier but warned again that he saw no real signs of commercial market hardening.
Aviva online motor brand goes live
Aviva has launched its new online car insurance brand, Quote me happy.
Ecclesiastical reports positive profit swing
Ecclesiastical has continued its yo-yo results trend with a pre-tax profit of £15.6m for the first half of the year(£9.9m loss in H1 2010) but its combined ratio remains above 100%.
Admiral's Engelhardt on Jack Straw and Confused.com
Henry Engelhardt, chief executive officer of Admiral, has welcomed Jack Straw’s intervention on referral fees but with certain crucial caveats.
PMI provider claims data sharing first
Universal Provident has claimed to be the first provider to disclose claims information on private medical insurance (PMI).
Bodily injury claims starting to impact, admits Admiral’s Engelhardt
Chief executive officer at Admiral, Henry Engelhardt, has revealed that bodily injury claims have started to noticeably affect the insurer in the past year.
Admiral sees profit boost beyond analyst expectation
Admiral’s half year results for 2011 have revealed a 27% boost in pre-tax profit ahead of H1 2010 to £160.6m with turnover jumping 53% to £1.1bn.
Ageas increases profit four fold in first half of the year
Ageas has delivered a remarkable turnaround in its profits for the first half of the year but its combined ratio remains stubbornly above 100%.
Oxygen develops niche home insurance scheme
Oxygen Insurance Brokers has launched a home insurance scheme offering tailored insurance cover for psychological professionals in the UK who see clients at home.
Chubb loses HNW duo to Zurich
Zurich has appointed Lennox Bunting and Alan Gorman to its Private Clients’ new London team.
Elite makes London recruitment to develop ATE business
Elite Insurance has announced the appointment of Mike Payne as general manager of its London office with a remit to grow the company’s after the event (ATE) insurance business.
Insurers' tax contribution greater than entire Home Office budget
The insurance industry made a total contribution of £10.4bn to the Exchequer a report from the Association of British Insurers (ABI) and PWC has revealed.
RBS to contend with limited appetite for insurance sell off
It is unlikely that RBS Group will be able to fetch a good price for its insurance arm, according to financial experts.
Analysts predict a profit surge for Admiral
Admiral is expected to report an increase in revenue and pre-tax profits when it posts half year results on Wednesday, according to reports.
Amlin suffers heavy half year loss
Amlin has announced a loss of £192.3m for the first six months of 2011 (£107.6m profit: 2010) as a result of "unprecedented" catastrophe claims.
New combined product for motor trade market
MMA Insurance has expanded its motor trade range of products with the introduction of a combined offering.
Quinn Insurance sale facing October court date
The Irish Independent has reported that policyholders will have the chance to raise any objections to the sale of Quinn Insurance at a court hearing on 4 October.
Profits down in QBE’s European operations
QBE has revealed a significant drop in European insurance profits to £123m for the first half of 2011 compared to £146m for the same period of 2010.
Insurers must simplify product info, says Unum
Income protection provider Unum has called on the insurance industry to simplify its customer product information.
Chubb juggles personal lines underwriting team
Chubb Insurance has announced four new underwriting appointments in its personal lines team.
CGI sells chunk of MGA in bid to grow broker house book to £100m
Congregational & General Insurance (CGI) has sold a majority share of its subsidiary MGA, Integra Insurance Solutions, to the Hannover Re Group.
Travel insurers face a weekly bill of £5.3m
Figures from the Association of British Insurers (ABI) have revealed that the cost of falling ill abroad has hit a new high with travel insurers helping a record number of people needing emergency medical treatment while overseas.
Updated: mixed insurer riot claims notifications risk causing confusion
Insurers have failed to adopt a blanket policy on increasing their claims notification period following the government’s decision to extend the notification deadline to 42 days under the Riot (Damages) Act.