Flooding
Allianz UK reports 102.6% COR alongside £93m storm loss
Allianz UK has reported a 2015 combined ratio of 102.6% (2014: 97.6%) with the December 2015 storms costing the business £93m.
Ageas will replace UK General capacity deal
Ageas will look to replace the agreement it had with UK General after it was announced Great Lakes Reinsurance (UK) will takeover as the managing general agent's major capacity provider.
Storms to cost Ageas £46.1m as FY profit slides
Ageas estimates it will pay £46.1m worth of claims following the December 2015 storms and floods, taking its 2015 combined ratio to 102% (2014: 99.8%).
SME flood scheme to prove 'challenging' to implement despite government talks
Efforts to establish an affordable flood insurance solution for small businesses are ongoing at industry and government level, despite concerns that creating a Flood Re type scheme for SMEs will be “fundamentally challenging”.
C-Suite - Broker: Time to show our pride
We are the industry that puts things right – it’s about time we shouted this out
C-Suite - Insurer: Supporting flooded businesses
Is a commercial version of the domestic Flood Re needed to provide a long-term solution for SMEs?
Storm and flood claims to cost Lloyds Banking Group £60m
Lloyds Banking Group expects to fork out around £60m on claims for household damage caused by the floods and storms that wracked the UK over December and the New Year.
Winter storm learnings key for Flood Re's future
Learning from the December 2015 floods and longer term data trends will be key to making Flood Re a success, according to its CEO Brendan McCafferty.
Zurich UKGI COR hits 109.5% amid £62m operating profit loss
Zurich's UK general insurance business has reported a £62m business operating profit loss in its 2015 full-year results due to a high volume of large losses, and claims related to the end of year UK storms and floods.
Storms cost Aspen £17.8m in Q4
Aspen Insurance Holdings paid out $25.7m (£17.8m) related to UK floods in the quarter ended 31 December 2015 as it reported a combined ratio of 99.6% for the period.
Flood losses caused by storms Eva and Frank hit £526m
Insured property market losses resulting from flooding caused by storms Eva and Frank in December and from further low pressure systems last month totalled £526m, according to the catastrophe insurance data firm Perils.
Munich Re releases €1.4bn of reserves as it records €3.1bn profit despite Ergo struggles
Munich Re this morning reported a consolidated profit of €3.1bn (£2.5bn) (2014: €3.2bn) for 2015 on gross written premiums of €50.4bn (2014: €48.8bn).
Blog: Flood claimants must prepare for the long haul
There may be less media interest in the floods but loss adjusters must manage expectations as the hard work has only just begun
Blog: Davies Group - insurance industry could still do better on floods
Don't be fooled by the positive press, there is still scope to do a lot more to help claimants, particularly when there is a surge...
Naming of storms to potentially impact apportionment of claims
The Met Office’s new policy of naming storms that make landfall in the UK could have a significant impact on the apportionment of claims between direct insurers and their reinsurers in the excess of loss market.
C-Suite - MGA: Calling all advocates
The industry needs happy policyholders to help turn its reputation around.
Quiz of the week - 22 January 2016
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Editor's Comment: Writing a new chapter
A new year and a new start; time to ring in the new; the new year is like a blank book and you have the pen to fill the pages – you probably heard all of these and more as Big Ben chimed in the New Year and you planned your resolutions.
The road to repair: how the industry has responded to flooding in Cumbria
The government is making grants available for flood resilient repairs.
C-Suite - Insurer: A climate of hope
Following the floods, the COP21 agreement offers a glimmer of optimism over climate change
Quiz of the week – 15 January
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Storm Desmond cost insurers £759m, says Perils
Perils, which provides consolidated catastrophe insurance data, has estimated the insured cost of Storm Desmond for properties affected by flooding and wind at £759m.
Flood Re completes exec team with hires from Pro Sight and Pen
Flood Re has completed its executive team with the appointment Harriet Boughton as its general counsel and Karen Clautour as head of operations.
Blog: Shoulder to shoulder through the floods
People in Cumbria have been hit hard by floods and the CILA president Benedict Burke saw first hand how residents are feeling.