News-Insurances

Groupama Insurances is growing talent : Specialist new role created to implement 3 year talent plan

Barbara karouski — Sun, 14 Mar 2010 17:11:59 +0000

Building on its IIP Gold accreditation, Groupama Insurances is implementing a 3 year talent plan and has appointed Jordan O’Connor in the newly created role of Talent and Resourcing Manager to drive this important corporate initiative. Reporting to Groupama’s HR Director, Paul Cann, Jordan will be responsible for talent management, people development and resourcing throughout [...]

A challenging year at Groupama UK

George Stobbart — Sun, 14 Mar 2010 17:05:24 +0000

“As predicted, 2009 was an extremely tough year. Underwriting activities at Groupama Insurances suffered as a result of unprecedented levels of claims inflation and the poor premium rating environment that affected our core private car portfolio. In addition, performance was also impacted significantly by the severe weather events encountered in January and during the final [...]

World Trade Center attacks : 657 million dollars deal for Ground Zero workers

Damian Dozol — Fri, 12 Mar 2010 22:04:09 +0000

More than 10,000 people who worked in the toxic chaos of New York’s Ground Zero after 9/11 could receive compensation totaling 657 million dollars for health problems under a deal reached Thursday. Thousands of plaintiffs, mostly firefighters, police and construction workers, have sued the city for what they say are health problems connected to work in [...]

English insurer encourages children to have vegetable gardens in schools

Damian Dozol — Thu, 11 Mar 2010 13:02:43 +0000

Fifty english schools will each be given their own vegetable garden to grow as a direct result of the hugely successful ‘Dig Down South West’ campaign, it has been announced today. The initiative (digdownsouthwest.co.uk) is aimed at encouraging children to grow their own produce. Schools across the region (full list in notes to editors) successfully [...]

Taiwan aims to rule on AIG unit’s deal by June

Damian Dozol — Thu, 11 Mar 2010 09:37:06 +0000

Taiwan aims to make a decision by the end of June on the controversial sale of the local unit of American International Group (AIG) to a Hong Kong consortium, a top economic official said Thursday. Deputy economic minister Hwang Jung-chiou also told a parliamentary briefing that an initial review showed the bid for Nan Shan Life [...]

Obama aide puts moral case to health insurers

Damian Dozol — Wed, 10 Mar 2010 16:46:55 +0000

Barack Obama’s top health official made a tough moral case to insurance giants Wednesday: put people and patriotism before profits and drop opposition to the president’s overhaul plans. Health and Human Services Secretary Kathleen Sebelius braved an industry conference two days after Obama issued a stinging attack on health insurance firms, accusing them of dumping [...]

Dutch regulator fines Fortis Holding for market manipulation

Damian Dozol — Wed, 10 Mar 2010 16:24:37 +0000

Dutch financial markets watchdog AFM said Wednesday it had fined insurance group Fortis Holding 576,000 euros (780,000 dollars) for market manipulation and withholding share price sensitive information. Four fines of 144,000 euros each were imposed on Fortis Holding last month for actions that followed its takeover of Dutch bank ABN Amro in 2007 in a [...]

Bulgaria ups health tax to fund hospitals

Damian Dozol — Wed, 10 Mar 2010 13:58:08 +0000

Bulgaria’s government voted Wednesday to raise health insurance payments in a move to end doctors’ protests and pump more money into its underfunded hospitals. The right-wing government voted to increase monthly health payments for all citizens by 2.0 percentage points to 10 percent of their income, Finance Minister Simeon Djankov said.”This is a difficult and unpopular [...]

White House, top ally, feud over health goal

Damian Dozol — Wed, 10 Mar 2010 11:00:32 +0000

The White House and one of its top allies in the US Congress feuded Tuesday over a target date for enacting President Barack Obama’s historic but embattled health care reform bill this month. Obama spokesman Robert Gibbs stuck with his prediction that the House will vote on the sweeping legislation by March 18, when the president [...]

Prudential eyes Asia’s coming insurance boom

Damian Dozol — Wed, 10 Mar 2010 10:34:22 +0000

Asia’s insurance industry is set to boom thanks to rising incomes, a growing middle class and ageing populations, explaining the allure behind Prudential’s costly bid for AIA, analysts said. And cultural biases that have made insurance a taboo subject in Asia, because of its association with death, are also fast disappearing, they said.”The prospect for [...]

Chile : Swiss Re estimates that earthquake may cost up to 7 billion dollars to insurers

Damian Dozol — Wed, 10 Mar 2010 09:31:31 +0000

Reinsurance giant Swiss Re on Wednesday estimated that insurers will have to pay up to 7.0 billion dollars (5.16 billion euros) for damages arising from the deadly earthquake in Chile. “This latest earthquake will lead to significant insurance claims for property damage and business interruption which are designed to facilitate a swift economic recovery,” said the [...]

Munich Re says recent disasters won’t blow it off course

Damian Dozol — Wed, 10 Mar 2010 09:18:15 +0000

Germany’s Munich Re, the world’s biggest reinsurer, said on Wednesday it was confident of a strong 2010 despite claims from the Chilean earthquake and recent storms in Europe. “We are again aiming for a consolidated result of over two billion euros (2.7 billion dollars)” in 2010, chief executive Nikolaus von Bomhard said in a statement. The [...]

Interview with Jean Marc Vouillemin, managing director of Entente Partners

sebastien — Mon, 08 Mar 2010 06:57:00 +0000

US insurance giant AIG has agreed to sell its Asian arm, AIA, to British insurer Prudential for around 35 billion dollars

George Stobbart — Mon, 01 Mar 2010 14:45:50 +0000

US insurance giant AIG has agreed to sell its Asian arm, AIA, to British insurer Prudential for around 35 billion dollars (26 billion euros, 23 billion pounds), a source close to the deal said. American International Group (AIG), which received a huge taxpayer bailout to stave off collapse during the financial crisis, had been persuaded to [...]

Interview with Perry Wilson, InsureandGo Founder

sebastien — Mon, 01 Mar 2010 07:41:42 +0000

Unemployment declined as government increases help for unemployed

Barbara karouski — Wed, 24 Feb 2010 17:00:47 +0000

The government today welcomed the drop in the December unemployment and youth unemployment figures but warned that the jobless total was still expected to rise again before the summer. ONS Statistics show a 7,000 drop in the ILO measure of unemployment, a 15,000 drop in the claimant count and a 7,600 drop in the youth claimant [...]

Motor insurance premiums to double for motorists speeders

Barbara karouski — Wed, 24 Feb 2010 15:20:34 +0000

Motorists convicted of speeding could see the cost of their motor insurance premiums almost double according to research by moneysupermarket.com, which also reveals the UK’s worst speeding culprits*. The price comparison site analysed almost three million motor insurance quotes over a year from motorists with driving convictions. It reveals boy racers in East Dunbartonshire, Scotland, are [...]

Fraud costs UK £30 billion with £2 billion lost in insurance fraud

Barbara karouski — Wed, 24 Feb 2010 11:47:25 +0000

The National Fraud Authority (NFA) has released the UK’s first comprehensive fraud estimate which estimates that fraud costs the UK over £30 billion a year or £621 per adult. The public sector accounts for 58 per cent of the total figure, the private sector 31 per cent and fraud against individuals 12 per cent. The public sector [...]

Space insurers expected to generate more than $400 million in profit for 2009

George Stobbart — Mon, 22 Feb 2010 16:38:12 +0000

Space insurers are expected to generate more than USD400 million in profit for 2009 provided there are no claims before the end of the year, according to Aon’s International Space Brokers, the largest specialist risk adviser in this sector. The space insurance market has been very profitable over the last five years and this will inevitably [...]

Interview with Ian Hood, Head of ebusiness of More Th>n

sebastien — Mon, 22 Feb 2010 09:13:06 +0000

US new jobless claims post surprise jump

George Stobbart — Thu, 18 Feb 2010 16:35:51 +0000

New claims for jobless insurance benefits in the United States posted a surprise rise, the Labor Department said Thursday amid concerns unemployment could dampen economic recovery. The seasonally adjusted initial claims in the week ending February 13 rose to 473,000, an increase of 31,000 from the previous week’s revised figure of 442,000, the Labor Department said. The [...]

AXA insurance reports fourfold profit leap

Barbara karouski — Thu, 18 Feb 2010 16:31:43 +0000

French insurance group AXA reported on Thursday a fourfold profit leap least year to 3.6 billion euros, beating analysts’ forecasts, and saying it would focus on raising profitability this year. The main difference from the results for 2008, when most financial groups were hit by the global financial crisis, was a turnaround totalling 2.6 billion euros [...]

Swiss Re edges back to profit-making

Barbara karouski — Thu, 18 Feb 2010 16:27:20 +0000

One of the world’s biggest reinsurers, Swiss Re, on Thursday reported a 506-million-Swiss-franc annual net profit in 2009, edging away from a record loss suffered a year earlier in the financial crisis. The net profit, equivalent to 472 million dollars or 345 million euros, was well within the range of analysts’ expectations. “Today, I am proud to [...]

Munich RE warns about the rising cost of climate change

Sofia Ashmore — Thu, 18 Feb 2010 12:02:58 +0000

Natural disasters linked to climate change could cost the insurance industry billions of dollars in extra settlement payments every year, German insurance giant Munich RE. The company’s statistics show that “globally, the average number of major weather-related catastrophes such as windstorms, floods or droughts is now three times as high as at the beginning of the [...]

How to get the best life insurance deals ?

Barbara karouski — Wed, 17 Feb 2010 18:05:22 +0000

People across the UK have been offered some advice on how to get the best life insurance deals to meet their needs. Kevin Tooze, managing director of Equity Partners, said that it is important people are open and honest with their insurer to ensure they are being given the right level of cover. Furthermore, he claimed lifestyle [...]

There is more to check than price when buying travel insurance policies

George Stobbart — Wed, 17 Feb 2010 17:14:22 +0000

With the news that overseas call centres continue to lead the way in customer frustrations, travellers should consider customer service, as well as price and level of cover, when choosing a travel insurance policy. According to a nationwide poll of 2,000 consumers conducted in November by YouGov on behalf of KC (Kingston Communications), the industry [...]

Dutch bank ING curbs executive bonuses, pay

Barbara karouski — Wed, 17 Feb 2010 15:25:59 +0000

Dutch bank and insurance group ING announced cuts of up to 71 percent in executives’ bonuses and 56 percent in their total pay, after waiving a dividend for last year in a results statement on Wednesday. Amid the continuing global furore over perceived excessive bonuses which some say encourage market undue risk taking, ING said it [...]

Norway’s Storebrand returns to profit

Barbara karouski — Wed, 17 Feb 2010 15:21:57 +0000

Norwegian insurance group Storebrand said Wednesday it would not pay dividends to its shareholders despite returning to profit last year following massive losses in 2008. The company made a net profit of 928 million kroner (116 million euros, 159 million dollars) in 2009 following a loss of 2.23 billion kroner in 2008. “In a year characterised by [...]

MMA announces re-launch of e-trading facility – Brober Online

George Stobbart — Tue, 16 Feb 2010 21:48:49 +0000

Broker insurer MMA Insurance has re-launched its broker e-trading facility Broker Online and its public website: www.mma-insurance.com The updated Broker Online facility retains the highly rated functionality and features but with a fresh design and easier navigation. Commenting on the re-launch Derek Plummer, Commercial Director said: “Broker Online is one of the fastest and most effective ways [...]

Fradulent car crashes staged costs insurance companies £350 million every year

Sofia Ashmore — Tue, 16 Feb 2010 21:15:51 +0000

Fradulent car crashes staged by criminal gangs are costing insurance companies £350 million every year, it has been claimed. “Crash for cash” cons are becoming more common and sophisticated, detectives warn, with the schemes offering high rewards for low risks. A specialist unit has been set up by the Metropolitan Police to tackle the problem, which involves [...]