August 7, 2015
RSA Insurance Group plc, the subject of a potential takeover bid by Zurich Insurance Group AG, reported a jump in first-half profit that beat analyst estimates and restored the interim dividend. Operating profit rose 84 percent to 259 million pounds …
July 10, 2015
UK regulators have asked property and casualty insurers to stress test their capital reserves against catastrophes, including a synchronized terrorist attack in London, New York and one other major city. The Prudential Regulation Authority (PRA) published the exercises last week …
July 10, 2015
The Bank of England will issue its verdict in December on the models insurance companies use to quantify risk and determine capital requirements as the industry prepares for the new European Union rules known as Solvency II. “I consider it …
July 8, 2015
UK Chancellor of the Exchequer George Osborne angered Britain’s insurance industry by unexpectedly increasing a tax on policy holders that is expected to raise an extra 1.8 billion pounds ($2.8 billion). The insurance premium tax will be increased to 9.5 …
July 8, 2015
The UK Financial Reporting Council is investigating former employees of RSA Insurance Group plc’s Irish unit regarding accounting irregularities in 2012. “The FRC has decided to investigate the conduct of certain individual members,” the accounting and auditing authority said in …
May 22, 2015
The UK’s Financial Conduct Authority criticized the insurance industry for “poor practices” and “significant” failures in handling claims for small and medium-sized enterprises (SMEs). The regulator said a review of the experiences of business customers showed more dissatisfaction with insurers …
May 7, 2015
RSA Insurance Group plc, the U.K.’s second-largest non-life insurer by market value, said revenue for the first quarter edged higher as it disposed of assets. Net written premiums for its core operations rose 1 percent on a constant currency basis …
May 7, 2015
Aviva plc said the turnaround of the U.K. insurer is “ahead of schedule,” as the value of its new business rose 14 percent in the first quarter. The company, which completed its $8.6 billion takeover of Friends Life Group Ltd. …
May 6, 2015
RSA Insurance Group plc may face a backlash from investors this week as Pensions & Investment Research Consultants Ltd. said Chief Executive Officer Stephen Hester’s compensation was “excessive.” The shareholders’ group recommended investors abstain from voting for Hester’s pay at …
April 23, 2015
Borussia Dortmund is using an unusual insurance policy to recover most of the income it is losing for failing to qualify for European soccer’s elite Champions League for the first time in five years, according to two people with knowledge …