All articles by Katie Scott – Page 8
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NewsRates ‘will need to increase’ to accommodate high inflation – Allianz Holdings
Amid predicted inflation increases and an impending recession, insurer boss has fears around underinsurance and incorrect indexation in the commercial market
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NewsPIB Group records 78% increase in adjusted ebitda for 2021
The intermediary consolidation business also grew its revenue by 52% over the course of last year
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NewsAllianz Holdings’ operating profit falls 42% in H1 2022 due to motor uptick, inflation and storms
The insurer’s COR has also worsened, despite the business growing its total revenue by 5% in the first six months of the year and commercial lines GWP improving by 10%
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NewsNuVenture International launches product recall MGA
New MGA hopes to fill gap in niche market that ‘many of the major carriers don’t have the time and knowledge to commit to’
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NewsAxa prepares for ‘potential claims’ from Ukraine and Russia war through exposed lines
Some of the insurer’s crisis management policies, for example, have been ‘triggered because of the war in Ukraine’, says group chief financial officer
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NewsAxa XL records 6% dip in H1 2022 revenue after cutting natural catastrophe reinsurance exposure
Insurer chief executive notes that the subsidiary still has the ability ‘to generate earnings totally in line with our objectives’
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NewsAxa’s UK and Ireland P&C revenue grows by 3% in H1 2022
The insurer’s group deputy chief executive additionally outlines two ‘headwinds’ impacting Axa’s group-wide P&C COR of 93.7%
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NewsAxa launches €1bn share buyback following ‘very good performance’ in H1 2022
The new scheme will operate alongside the share buyback programme set to follow Axa Germany’s sale of its closed life and pensions portfolio
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IT InterviewAventum flaunts independent status to attract talent amid consolidation landscape
Wholesale broker and parent firm attribute ‘phenomenal growth’ to attracting the right talent and building ‘a really good culture’ based on steering clear of consolidation
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NewsJM Glendinning Professional Risks promotes internally for new managing director
The candidate came up trumps after a ‘rigorous recruitment process’
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NewsThe Clear Group grows ebitda by 76% in 2021
Group chief executive says latest financial results provide ‘an excellent base from which we can continue to deliver on our growth strategy’
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NewsRate rises of 300% have ‘not been uncommon’ in London’s cyber market
Despite ‘no material change in exposure’, insurers in the London market are wary of cyber risks and are upping premiums by 100% on average, as well as reducing capacity, says broker’s head of cyber
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IT InterviewAventum Group embraces trading London market-based risks via digital platforms
Although face-to-face conversations are crucial in the London market, SME and some simpler risks can be traded through digital platforms ‘to make it easier for agents to access’
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NewsRates for builders’ risk construction cover increased by 5% year-on-year in London market
Higher sub-limits and extension limits for these policies in London give the market ‘a competitive differentiation’, says broker’s head of international construction
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AnalysisBriefing: FCA must focus next on customers’ expectation gap following dual pricing ban
Consumer group managing director calls expectation gap the ‘number one problem in insurance’, over and above ‘sideshow’ price walking that the FCA has been focused on
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NewsGRP marks 100th acquisition with purchase of Ipswich-based firm’s GI book
Intermediary firm celebrates its ‘empowered consolidation model’ with its latest broker buy
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NewsDOA Underwriting strikes capacity deal for travel policies with Axa Partners UK and Ireland
The insurer says the agreement forms ‘a key part in our travel strategy’
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NewsPIB Group buys Spanish commercial lines broker
The deal marks the broker’s fourth purchase in Spain, reflecting its ‘ultimate goal of becoming one of the most important insurance brokers in the market’
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AnalysisBriefing: Brokers must help Rolex and Patek Philippe owners watch for HNW underinsurance
Some luxury watches have more than tripled in price – even for second-hand watches – meaning that brokers have to be on the ball if they are to help prevent underinsurance for HNW customers
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NewsPoor management of climate risks could lead to D&O and E&O claims – Kennedys
Environmental and climate risks can impact ‘all types of insurance policies’ because they are ‘a constant, growing concern’, says law firm partner
