Articles by Callum Brodie
FCA calls for claims ratios in final add-ons report face renewed criticism
The Financial Conduct Authority’s proposal to impose a requirement for insurance companies that engage in the sale of add-on products to publish claims ratios as a measure of value is expected to face continued criticism.
L&G GI profits slump in H1 as attention turns to bolt-on acquisitions
Legal & General has attributed weather claims totalling £12m in the first quarter of 2014 for a slump in the general insurance division’s operating profit to £28m in the first half of the year (H1 2013: £39m).
Ex-Paymentshield CEO Johnson to lead Stackhouse Poland
Stackhouse Poland has appointed former Paymentshield chief executive Tim Johnson as group CEO.
Rehab code to be reviewed amid personal injury developments
The changing personal injury landscape has triggered the first review of the rehabilitation code in more than seven years.
Assurant Intermediary teams up with LV Broker on home product
LV Broker has launched its ABC home insurance offering on the Assurant Intermediary product platform as part of a partnership arrangement with the firm.
Weather claims eat into Lloyds GI COR as income slips by £54m
Lloyds Banking Group’s general insurance business has attributed increased weather claims in the opening two months of the year to a decline in the unit’s combined operating ratio to 80% in the first half of 2014 (H1 2013: 69%).
Interim Zurich UK GI CEO Dave Smith to retire in April 2015
Zurich’s interim UK general insurance chief executive Dave Smith has agreed to extend his temporary tenure at the business ahead of retiring in April next year.
News Editor's Comment: What next for the aviation sector?
In the space of just over four months, the previously soft aviation market has been sent spinning off course by a succession of tragic incidents that are likely to contribute towards the market’s highest annual losses since the terrorist attacks of 11…
Video: Ashwin Mistry, president of the Chartered Insurance Institute
Just hours after being officially named as president of the Chartered Insurance Institute at yesterday’s annual general meeting, Ashwin Mistry caught up with Post news editor Callum Brodie to outline his ‘one voice’ mission statement for his 12 months in…
LMA claims and underwriting boss Humberstone joins Capita
Capita Insurance Services has appointed the London Market Association’s Doug Humberstone as director of shared services.
Increased competition takes its toll as Lancashire profits plummet
Lancashire Holdings has seen its profit before tax nosedive by almost $40m (£23.5m) in the opening six months of the year on the 2013 half year figure of $137.2m.
MGAA membership hits 93 as original steering group is honoured
Managing General Agent Association chairman Reg Brown has heralded the association’s work in raising regulatory awareness of the booming sector after revealing the MGAA now represents more than £3.3bn of gross written premium.
CII president Mistry hammers out 'one voice' agenda
Chartered Insurance Institute president Ashwin Mistry has issued a rallying cry for other industry organisations and trade bodies to get behind his ‘one voice’ agenda in a bid to exceed increasing consumer expectations.
Priest & Co administrators sell broker's corporate risks division
Independent Lloyd’s broker Priest & Co has been forced to sell its corporate risks division after the company slipped into administration.
Job cuts highlighted as potential answer to digital disruption
Insurance executives are more concerned than bosses from any other industry about the disruptive impact digital technologies will have on their business over the next 12 months, according to research by consultancy Forrester.
Ex-Independent colleagues Rutter and Blakemore launch underwriting start-up
The former head of London market at Independent Insurance Keith Rutter has co-founded a start-up underwriting firm alongside his ex-Independent colleague John Blakemore.
Underwriting hires in Miami aid Brit's regional platform expansion
Brit has bolstered its Miami-based Latin America and Caribbean platform with the addition of Carlos Becerra as vice president for underwriting and Jimena Salgado as an underwriter.
London market presence set to contract as Beazley targets US
Beazley is expecting continued growth in the US alongside a London market reduction after its US operation aided a 61% increase in group-wide profit before tax of $132.9m (£77.8m) in the opening six months of the year.
Treasury to unveil guide to investing in UK infrastructure
Insurance companies will be among financial services firms targeted by chief secretary to the Treasury Danny Alexander’s guide to investing in UK infrastructure.
Banks off the hook as AIG recovers mortgage bond settlements
AIG is no longer expected to pursue further legal action against major banks after recovering more than $2bn (£1.17bn) in settlements over mortgage bonds that left the insurer on the brink of collapse.
Direct Group teams up with Autonet on accidental death product
Independent broker Autonet has appointed Direct Group to take over the provision of its accidental death insurance product following its launch earlier this month.
Quindell receives majority backing from shareholder group
The majority of Quindell Shareholder Action Group members maintain a positive outlook in terms of their investment in the outsourcer despite a recent drop in the firm’s share price.
MH17 hull war losses unlikely to exceed 2001 Tamil Tigers attack
The costs of hull war risks emanating from the downing of Malaysia Airlines flight MH17 are not expected to exceed the $380m (£222m) losses following the 2001 Tamil Tigers attack on Sri Lanka’s Bandaranaike Airport, according to loss adjusting sources.
Biba heralds 'transparent' Insurance Bill
The British Insurance Brokers’ Association has welcomed the introduction of the Insurance Bill as a means of increasing “certainty over the rules” on contracts between insurers and businesses.