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China should establish catastrophe insurance - report
China should establish catastrophe insurance as soon as possible, Wei Yingning, vice-chairman of the China Insurance Regulatory Commission is reported to have said Sunday.
IIB calls for greater representation for brokers
The Institute of Insurance Brokers (IIB) is becoming "increasingly uncomfortable with the regulation of insurance mediation being lumped together with that of banks" according to Barbara Bradshaw, its chief executive.
IIB slams FSA on fees and levies
The Institute of Insurance Brokers is becoming "increasingly uncomfortable with the regulation of insurance mediation being lumped together with that of banks" according to Barbara Bradshaw, its chief executive.
Liberty's reinsurance book sees net written premiums rise
The reinsurance book Liberty International Underwriters saw net written premiums jump 37% over the course of the last three months of 2008, the company said.
Dual promotes MD to executive chairman role
Dual Corporate Risks has promoted managing director Russell Kilpatrick to the newly created position of executive chairman. The new role will enable him to focus on exploring strategic growth opportunities both in the UK and internationally.
Broker targets buys as its profit increases to £7.6m
Carole Nash has posted pre-tax profits of £7.6m (£6.3m) on turnover of £25m (£24.9m) for its last financial year ended 31st December 2008. It attributed the growth to the launch of ancillary products, increased operational efficiencies and a major…
Swiss Re chair steps down a year early
Peter Forstmoser, chairman of the board of directors of Swiss Re, has decided to resign from the Board. He is to be succeeded by Walter B. Kielholz, who was up to now vice chairman.
Hiscox buoyed by reinsurance rate hikes
Lloyd's insurer Hiscox has reported a profit before tax of £105.2m in 2008 (2007:£237.2m) on gross premiums written of £1147.4m (2007:£1198.9m). The group combined ratio improved to 76.1% (2007: 84.4%).
Chaucer: it will take time to decide whether a bid will be forthcoming
Chaucer this morning reported an underwriting profit before investment income of £33.0m (2007: £75.5m) for 2008 on gross written premiums up 26.9% to £741.0m (2007: £584.1m). Its net earned premiums were up 23.1% to £547.2m (2007: £444.5m) and it…
Brit favours Netherlands as redomicile location
Brit Insurance this morning confirmed the Netherlands had been identified as the preferred domicile of the group's holding company, subject to requisite clearances and approvals. The news came as it reported a profit before tax £89.2m (2007: £191.2m) on…
Brit Insurance profits halve as it eyes Netherlands move
Brit Insurance's full-year pretax profits halved during the course of 2008 as the company eyed a move of domicile to the Netherlands.
Swiss Re chairman to resign
Swiss Re chairman Peter Forstmoser, said he will resign from the board of the embattled Swiss reinsurer.
Bupa releases summary of critical illness claims
Bupa has said that it paid out an average benefit of £93 000 to consumers claiming on their critical illness (CI) policies.
Biba says FSA fee structure is inequitable
The British Insurance Brokers' Association has responded to the Financial Services Authority consultation paper on its proposed fees and levies for 2090-10 by demanding change.
Ex Willis and Allianz manager joins Ace to ramp up major risks arm
Ace Europe has appointed Shaun Edwards as a client relationship manager for its major risks business, in a move which further enhances Ace's profile and broker relationships within this area.
Towergate unveils plans for new wholesale division
Power Place Insurance Services has appointed Wayne Tonge as its new sales director.
Towergate hires Giles pair to boost Scottish business
Towergate has unveiled a series of appointments to its retail operation in Scotland which it claims reflect the successful growth of the business across the region.
CCV keeps spending
Cullum Capital Ventures has acquired Staffordshire-based Brian Potter & Associates.
Lloyd's insurer gives Chaucer talks update
Novae has given an update on its ongoing discussions with Chaucer today.
Novae rules out Zurich, Dublin or Bermuda move for now
Lloyd's insurer Novae has reported a profit before tax: £40.2m for 2008 despite a estimated $40m loss from Hurricanes Gustav and Ike (net of reinsurance and reinstatement premiums).
XL chairman to stand down
Brian O'Hara, chairman of XL Capital and the Bermudian (re)insurer's former president and chief executive, has said that he is to retire from the board of the company.
Groupama steps up battle against motor fraud
Groupama Insurances has stepped up its counter-fraud activity with an investment in fraud prevention software solution Hunter.
Building collapse contains insured archives worth €400m - Guy Carpenter
Guy Carpenter said that a six-storey building that stored archive material which collapsed in Cologne is housing archived material insured for around €400m, Guy Carpenter has said.
Aviva shares in freefall after monster loss
Aviva shares lost more than a quarter of their value in the first three hours of trading on the London Stock Exchange after the insurer reported a net loss for 2008 of £885m.