Articles by Francesca Nyman
Vienna Insurance increases dividend after €559m record profit
Vienna Insurance Group's increased its profit by 10.1% to €559m, making 2011 the most profitable year in the group's history.
European Parliament wants EU-wide sanctions for cyber crime
Cyber attacks on IT systems will face criminal-law sanctions, according to a report by the Civil Liberties, Justice and Home Affairs Committee of the European Parliament released today.
Mapfre buys bank's stake in Mapfre America for €244m
Spnaish savings bank Banco Financiero y de Ahorros has agreed to sell its 10.36% stake in Mapfre America to the insurer's parent company for €244m.
Lloyd's Russia office plan put on hold
Plans by Lloyd's to open a representative office in Russia have been shelved owing to lack of funds, according to a senior Lloyd's advisor.
CCR removed from negative review after eurozone developments
State-owned Caisse Centrale de Reassurance has had its A++ financial strength rating and AA+ issuer credit rating removed from review by AM Best.
Insurers lose $116bn but play key role in disaster recovery
Despite insurers incurring the second largest losses ever at $116bn in 2011 the industry weathered 2011 well, according to the latest Swiss Re Sigma study.
Catastrophe-struck Lloyd's slumps to €619m loss
Following the second costliest year for catastrophes on record for the insurance industry, Lloyd's today announced a loss of £516m (€619m) for 2011.
Philippines Insurance Commissioner promotes benefits of microinsurance
The Philippines Insurance Commissioner has urged members of the public to buy microinsurance to prepare for the future.
Allianz buys wind farms as part of renewables investment
German insurer Allianz has bought two recently completed wind farms in France from Nordex SE.
Deductibles distrust blamed for Thailand's high motor premiums
A reluctance to apply deductibles may be keeping Thai motor premiums unnecessarily high, according to the country's General Insurance Association.
China considers domestic shipping system to protect oil imports
China may create an integrated shipping system for imported oil via cooperative agreements among state-owned shipping lines, refineries and insurance bodies, with the goal of ensuring energy security.
Malaysia sees improvements in corporate governance
Malaysia's quest to improve corporate governance in banks and insurance companies is seeing results, according to Malaysian news publication The Star.
Shipping sector faces new risks 100 years on from Titanic disaster
To mark the centenary of the Titanic sinking, Allianz Global Corporate and Specialty has recorded what it views as the biggest risks to the shipping industry today.
Declined risk pool aims to reduce losses for India's motor sector
The Insurance Regulatory and Development Authority's decision to implement a declined risk pool system for third-party motor insurance is likely to reduce the losses for Indian insurers, according to industry insiders.
Eurozone crisis and Solvency II undermine Italian insurers' profitability
Italian insurers' growth and profitability is likely to remain subdued until the end of 2013, according to the latest report by Fitch.
Sompo Japan and Nipponkoa merge to create global P&C firm
Japanese non-life insurers Sompo Japan Insurance and Nipponkoa Insurance are to merge into a single company in the first half of the 2014 financial year.
EU foreign policy head confirms exemptions to Iran oil sanctions
Further details have emerged concerning the European Union's decision on Friday to allow some insurance for Iranian oil shipments heading for destinations outside the EU.
UK P&I club to establish UK Europe as sole direct insurance provider
The UK Protection and Indemnity Club has announced that it is reorganising its structure to establish UK Europe as the sole provider of direct insurance to UK Club members.
Dissatisfaction could affect credit insurers' ability to recover in future
European credit insurers would be less able to rebound in a future crisis than they were in 2008/2009, according to Moody's latest insurance industry outlook.
Tawa shrugs off $21.6m loss in a year of "transforming"
Run-off specialist Tawa reported a loss after tax of $21.6m for the full year 2011, after a profit of $1.8m in 2010.
EU may allow limited coverage for Iranian oil shipments
Intense lobbying by South Korea and Japan has led the EU to relax its ban on insuring Iranian oil shipments, according to Reuters.
IRDA scrutinises bank stakes in Indian insurers
Equity tie-ups between Indian insurers and their bancassurance partners are coming under scrutiny from India’s insurance regulator.
Talanx 'thoroughly satisfied' after posting €1.2bn profit
German insurance giant Talanx was "thoroughly satisfied" after increasing operating profit 21% to €1.2bn for 2011, despite a turbulent year for the eurozone and high incidences of natural catastrophes.
ISE 2012: Portugal to follow Greece but sovereign defaults won’t ‘cripple’ insurers
Kurt Karl, managing director, chief economist and head of economic research and consulting at Swiss Re, has predicted that Portugal will be the next nation to default but that it will not cripple the insurance industry.