Articles by Francesca Nyman
Canopius promotes Manning to group COO
Specialist reinsurer Canopius has promoted Steve Manning to group chief operating officer with responsibility for all operational matters.
Reinsurer capital remains strong despite near record catastrophe losses
Global reinsurer capital fell 3% during 2011 to $455bn (€345.5bn), according to an Aon Benfield Analytics study examining the impact of catastrophe losses on reinsurers' capital and earnings positions.
Non-life premiums may fall amid China's economic slowdown
China's economic slowdown may lead to reduced premium income for the region's non-life insurance market, according to a senior industry figure.
Red 24 to brief CNA clients on kidnap risk
US commercial insurer CNA has appointed crisis response firm Red 24 to provide advice and response for kidnap, ransom and extortion.
Indonesia quake could cause premium hikes
Aftershocks from yesterday's 8.6 magnitude earthquake in Indonesia may lead to cover restrictions and premium and deductible increases, according to industry sources.
Mitsui Sumitomo to acquire 26% stake in New York Life
Japan's largest casualty insurer plans to acquire a 26% stake in Max New York Life Insurance Co to expand its business in the Indian insurance market.
Insured losses from Sumatra earthquake 'not significant'
Yesterday's 8.6 magnitude earthquake in Indonesia is not expected to cause significant insured losses, according to catastrophe modelling firm AIR Worldwide.
General Arabia Insurance assigned 'B+' financial strength rating
Jordan-based General Arabia Insurance Company has been assigned a 'B+' financial strength rating and 'BBB-' issuer credit rating by AM Best.
Property rates to keep rising in the short term
Despite the absence of a major natural catastrophe in the first quarter, rates rose for catastrophe and non-catastrophe exposed risks in most geographies, according to a Marsh report.
Nexus sees young Bahrainis as key to insurance growth
Independent broker Nexus is trying to recruit young Bahrainis, to encourage greater insurance participation in the region.
AIA Group rejects Singapore move to fee-based model
Proposals to end commission-based remuneration for insurers in Singapore have been criticised by one of Asia's largest insurance firms.
CIRC to tighten capital adequacy supervision
China's Insurance Regulatory Commission is to bolster its supervision of the insurance industry over the next few years to ensure that insurers are able to pay claims.
State-backed cover for Iran shipments likely, says Chinese shipping group
Government-backed insurance coverage for oil shipments from Iran is highly likely, according to China's largest sea-cargo carrier.
India's foreign direct investment u-turn hits IPO plans
The Indian government's move to defer the easing of foreign direct investment in insurance will scupper the plans of large companies considering initial public offerings and may push consolidation, according reports in the Indian press.
S&P affirms Dhaman's 'AA' credit rating
Standard & Poor's has affirmed its 'AA' counterparty credit rating for the Kuwait-based Arab Investment and Export Credit Guarantee Corp.
Hyperion to sell majority stake in CFC
Broker Hyperion Insurance Group and CFC Underwriting have agreed to sell Hyperion's majority stake in CFC Underwriting to a consortium of private investors and the management team.
500 million microinsurance schemes worldwide, says report
The number of microinsurance schemes has reached an estimated 500 million worldwide, according to the Microinsurance Innovation Facility and the Munich Re Foundation.
Japanese insurers' revenues rise after surge in quake policies
Japan's five major insurance companies experienced year-on-year increases in premium revenue during the 2011 fiscal year, according to Japanese publication The Daily Yomiuri.
State-provided cover needed to insure China's crude supplies
Tankers carrying Iranian oil will not be fully covered by Hong Kong marine insurers after EU sanctions take effect from July, an industry official told Reuters.
China's P&I club halts cover over Iran sanctions
A major Chinese ship insurer will halt indemnity cover for tankers carrying Iranian oil from July, dealing a blow that narrows the insurance options for Tehran's main export already constricted by payment barriers caused by Western sanctions.
Colemont relocates to THB building in London
Lloyd's insurance broker Colemont is relocating to THB Group's building in Leadenhall Street, opposite Lloyd's, on 23 April.
Japanese delegation visits Cunningham Lindsey for lesson in fraud detection
Cunningham Lindsey's Investigation Services recently hosted a visit from Japanese insurance industry representatives at the company's National Investigation Centre in Manchester.
Alvert appointed CEO for Mapfre Assistance
Pablo Alvert has been appointed CEO and regional director for Mapfre Assistance, the UK arm of Mapfre Asistencia.
Reinsurance rates in Asia Pacific rise at 1 April renewals
The major renewal date for the Asia Pacific region saw reinsurance rates increase as the market continued to work through the impact of the events of 2011, according to a briefing by Guy Carpenter.