Lloyd's of London News – Page 113
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NU seeks commission cuts as profits slump
New chief executive wants cost of distribution at ‘a better level’
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Flooding forces AXA to raise property rates
AXA Insurance chief executive Peter Hubbard said AXA would be increasing property rates following the flooding, with rises of as much as 10%. He said: “Rates have been going backwards while claims inflation has been increasing. This needs to be addressed. AXA will be putting up household and commercial property ...
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Online onlyIs Gore full of hot air?
Former Vice President says there is a public campaign to discredit climate change
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R&SA to cut a further 500 jobs
Royal & Sun Alliance is to shed a further 500 jobs in the UK as it pushes on with a major cost-cutting programme, the insurer has said.R&SA yesterday reported a 2% drop in pre-tax profits to £338m in the first half, hit by the bad weather, but helped by a ...
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Commercial market set to harden in flood wake
Senior industry figures predict rate increases across many lines of commercial business in coming months
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Flooding hits HBOS profits
HBOS reported general insurance profits of £107m for the first half of the year, 34% down on the same period in 2006. The bank said this reflected the cost of the June floods, which cost it £60m, and the January storms, which saw £20m in claims. Motor insurance sales increased ...
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Floods will not impact insurer ratings
The household insurance market is set to make a nearly unprecedented net loss of at least £110m after investment returns are taken into account as a result of the flooding, according to Deloitte. Catherine Barton, a partner at the professional services firm, said 2007 would be the worst year for ...
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Brokers split over insurance industry's handling of flood claims
45% of brokers see positive impact on reputation, according to survey
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Biba slams insurers for increasing property premiums
Planned premium increases in wake of flooding are 'too much too soon'
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Floods won't hurt UK insurer ratings, says Moody’s
Strong financial performance and strengthened balanced sheets ensure that losses are manageable, says rating agency
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Online onlyHousehold premiums to rise in wake of floods
Two of Britain's leading insurers have said the cost of household insurance will rise as a result of catastrophic flooding
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Online onlyAviva: July floods will cost £165m
Insurer admits 'uncertainty' over meeting group target for 2007
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Online onlyZurich puts UK weather losses below £200m
Claims payments related to UK floods not to exceed $400m (£197m)
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Global insurers unite to tackle climate change
International insurance chiefs formulate strategy to pressure governments over climate threat
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Online onlyDealing with a hard property hit
S&P warns that this year's severe weather is likely to put property underwriting results in the red
