Zurich Insurance Group AG said profit fell 79 percent in the third quarter after it booked $275 million in losses from the Tianjin disaster and set aside $367 million more in reserves to cover mainly North American auto and construction …
Direct Line Insurance Group Plc, the UK’s largest car insurer, said pricing for its motor business increased in the last two quarters because of higher claims. Rates for car cover rose 8.4 percent in the three months through September, the …
A tax hike on British motor and home insurance policies effective from Sunday is set to hit consumers and could trigger a fresh round of margin-squeezing price competition among general insurers. The jump in the insurance premium tax (IPT), to …
Spain’s insurance market has continued to show resilience, with companies focusing on profitability as the country’s economy showed further signs of recovery, according to a new report from A.M. Best, entitled – “Sticking to the Basics Ensures Resilience of the …
Willis Group Holdings plc has launched a modeling tool that enables risk managers to forecast third party motor risk across Europe. The Dynamic Casualty Forecast tool uses Willis’ proprietary data so that a client with significant motor exposure of any …
Trieste-based Generali Group announced that it has acquired MyDrive Solutions, a UK company that uses data analytics tools to profile driving behavior. MyDrive Solutions, which was founded in 2010, specializes in identifying innovative and tailor-made products for customers as well …
Bermuda-based specialist insurer Hiscox announced it has reached an agreement with Willis to acquire its specialist UK classic car business, RH Specialist Insurance. This acquisition complements Hiscox’s existing expertise in the motor market, having offered specialist and classic car insurance …
Zhong An Online Property & Casualty Insurance Co., a Chinese online insurer part owned by Alibaba Group Holding Ltd., said it raised 5.8 billion yuan ($934 million) from investors including Morgan Stanley. The Shanghai-based company now has a market value …
Allianz Commercial has joined forces with fleet incident management provider FMG, to provide commercial fleet and motor trade customers with the capability to improve driver safety and fleet efficiency. Allianz Commercial is a division of Allianz Insurance, which is based …
Insurance companies around the world are promising lower rates on car coverage. The catch is they want to install the equivalent of an airplane’s black box to track how and where you drive. Smartphone applications and devices that record trip …
