Insurance Australia Group (IAG)
Equity affinity signs up Provident
IAG's UK affinity business Equity Insurance Partnerships has signed up Halifax-based Provident Insurance to its motor panel.
IAG reports loss of $7m for H1 2012, as CEO hails improvement
Insurance Australia Group has reported that its UK arm made an underwriting loss of Au$7m for the six months to 31 December 2011.
Market moves: All change in the boardroom
Underwriters were the most active recruiters this week, with Ace leading the way with two major appointments. Meanwhile, Brit, Lloyd’s Channel Syndicate and Whittington Capital Management also added to their ranks. While the broking space was relatively…
Brit hires investment chief from IAG
Brit has recruited John Stratton from Insurance Australia Group to fill the newly created role of chief investment officer.
Names protest group calls for Lloyd's meeting over Equity censure
A Names protest group that was burdened with losses from Equity Syndicate’s 2007 account is seeking a meeting with the Lloyd’s Enforcement Board to discuss the findings of its investigation.
IAG revises half year perils outlook after Xmas day weather claims
Insurance Australia Group has confirmed that its Australia Direct and CGU businesses had received to date approximately 24 000 claims following the hailstorms and related severe weather which occurred in Victoria around Christmas Day.
Hastings stands by Utley as he prepares to face disciplinary board
Hastings Direct has vowed to stand by chairman Neil Utley, pictured, as he prepares to face the Lloyd’s disciplinary board later this month, as part of an investigation into Equity Red Star.
Lloyd’s censures Equity over reserves
The Enforcement Board of Lloyd’s has censured motor insurer Equity and demanded it pay £95 000 costs over its under-reserving of claims, but has spared the syndicate an expected £1m fine.
Interview - Edward Fitzmaurice: Broking promises
With Hastings Direct on the cusp of becoming a top five broker and securing its one millionth customer, 2012 could be a landmark year for chief executive Edward Fitzmaurice
IAG UK repositions its affinity division
IAG UK has repositioned its specialist affinity division, Equity Direct Broking, following the launch of a new trading name.
IAG boss warns Europe's debts could impact global insurance market
Europe's debt crisis could impact the global insurance industry, reducing competition in markets where insurers have exposure to troubled European sovereigns, says IAG chief.
Chinese motor market tipped to open up to international players
The Chinese motor market could offer great opportunities for international insurers if local legislation is relaxed next year.
AM Best warns of Thai floods hitting BI
AM Best has warned that Thailand’s ongoing flood disaster will trigger significant commercial and business interruption losses to manufacturing and supply chains in global markets.
IAG on track to meet FY12 guidance
Insurance Australia Group managing director and CEO, Mike Wilkins, advised shareholders at the company's annual general meeting that it was on track to deliver its results guidance for the 2012 financial year.
Hastings founder passes away
Hastings founder David Gundlach has died at the age of 56.
Climate change: A changing environment
With insurers rushing to provide environmental cover, how are they performing themselves in the climate change stakes?
Hodges makes first mark on Towergate with Barr and Rea moves
Towergate’s new group chief executive Mark Hodges has made his first mark on the business he took over at the start of September.
New Zealand insurers continue to reject business
The number of insurers rejecting new business amid ongoing seismic activity in Christchurch is escalating rapidly, according to an expert from Fitch Ratings in Australia.
New Zealand faces mass withdrawal as earthquake claims stack up
Insurers and reinsurers could stop providing earthquake cover in New Zealand altogether, forcing its government to handle claims.
IAG remains disappointed by UK performance
“Disappointing” was the word repeatedly used by Australian giant IAG about its struggling UK business, dominated by Equity Red Star at Lloyd’s that has been ravaged by bodily injury claims.
IAG audit expert joins Grant Thornton
Grant Thornton has taken on IAG UK’s head of internal audit Sarah Talbott to lead its insurance internal audit services.
Lloyd's pursues own probe into Equity syndicate losses
Lloyd's is investigating Equity syndicate's reserve deterioration, Post has learnt, and a Names protest group says the outcome should prove influential to its own campaign over Equity's losses.
Towergate hires new group risk officer
Towergate Insurance has confirmed the appointment of Lisa Siggery as group risk officer, subject to FSA approval.
Hastings eyes Aviva and Allianz in 2012 IPO push
Hastings Direct's panel of insurers has more than doubled in size since a management buyout 18 months ago, with more firms due to sign up this year, as it eyes one million policies.