Kwik Fit News

Amy Ellis Postonline Brit Insurance has appointed Mike Davidson as managing director for Sydney following the establishment of its own Australian office replacing its previous third party arrangement. Located in Sydney’s financial district, it will provide local representative services initially for the company’s reinsurance activities....

jonathan swift Postonline In a statemement it added: "This change of identity is a logical next step in our evolution from bancassurer to international insurance company. Our new name confirms our rebirth as a new company, but one that will benefit from past experience and the professional expertise concentrated within our group." In April, subject...

jonathan swift Postonline The group recorded an overall net profit EUR 456m, although its non life business net profit of EUR 74m, was negatively impacted by higher claims in Belgium and the UK. Fortis Insurance this morning recorded an overall net profit EUR 456m, although its non life business net profit of EUR 74m, was negatively impacted by higher...

Daniel Dunkley Postonline Fortis reports non-life profit before tax and interest of £29m, down from £76m in 2008, with CEO Barry Smith attributing reduced profit to “challenging market conditions.” Rising claims inflation in the motor market and third party damage costs were attributed to the reduction in profit on 2008. Combined operating ratio...

The Financial Services Authority (FSA), has announced a delay on its plans to reform the Payment Protection Insurance (PPI) market. The City Watchdog said its consultation will be delayed by six weeks due to a heavy amount of criticism from the financial industry. Under a PPI policy, an agreed sum of money is paid out each month [...]

jonathan swift Postonline Gross premiums written rose by 9.5% to €41.4bn (€37.8bn). But if exchange rates had remained the same, premium volume would have increased by 9.9% compared with the previous year. Munich Re recorded a good operating result of €4721m (€3834m) in 2009, €1400m of this in the fourth quarter. Despite the share...

jonathan swift Postonline Reinsurer claims losses for the European winter storm to be approximately $100m. Swiss Re today announced that, based on current information, it provisionally estimates its loss arising from the earthquake in Chile to be $500m. The total insured losses for the insurance sector for the earthquake in Chile are estimated to be...

jonathan swift Postonline Post, as part of its Investing in the Profession Campaign, is hosting this week a special, live, and interactive, online debate on the insurance industry's latest initiative to boost professionalism - The Aldermanbury Declaration. The webinar is taking place today at 3.30pm REGISTER FOR THE WEBINAR NOW Join in our live online...

Insurers need to “change their approach” to older travellers, moneysupermarket.com claimed this week. A spokesperson for the price comparison site made the comment after research found that British travellers can see travel insurance premiums more than double after their 65th birthday. Multi-trip policies in Europe increase by up to 174%...

AXA has announced that its Malaysian subsidiary, AXA Affin General Insurance Berhad, has received approval from Bank Negara Malaysia (the country’s central bank), to acquire 80% of BH Insurance Berhad. AXA general insurance chief executive officer, Jan van den Berg, describes the move as “important for the long-term growth of AXA in Malaysia”...