Insurance Post Staff

AIG strongly considering life insurance spin-off

AIG, the US insurer, is talking to staff about plans to spin off some of its life units if is not able to sell them, Reinsurance has learned.

26 Feb 2009

AIG considering break-up - FT

AIG, the stricken US insurer, is considering a break-up in an effort to keep it insured, the Financial Times has reported .

26 Feb 2009

Reinsurance

Reinsurers wresting back initiative in 2009, says Cooper Gay

Reinsurers have begun 2009 determined to wrest back the initiative from a period of softening rates and savagely declining investment returns, according to (re)insurance broker Cooper Gay.

26 Feb 2009

Lloyd’s/London

Lloyd’s opens Polish office

Lloyd's has opened its representative office in Poland, after securing a licence to write business last year.

26 Feb 2009

Personal

Axa Corporate Solutions reports 8.2% growth in turnover in 2008

Axa Corporate Solutions recorded a 8.2% growth in turnover in 2008, reaching €1.954bn (£1.748bn), while underlying earnings were up by 16.8% at €113m (£101m).

26 Feb 2009

Commercial

Moneysupermarket grows insurance revenue by 38%

Moneysupermarket's insurance revenue increased by 38% to £77.7m in 2008 compared to £56.4m the previous year.

26 Feb 2009

Axiom in acquisition talks with Charles Taylor

Charles Taylor Consulting is in talks to buy Axiom, the (re)insurance consultancy, the company said in a statement.

26 Feb 2009

Regulation

Chinese insurers report record premium growth in January

(BESTWIRE) - The China Insurance Regulatory Commission reported that, by the end of January, the country's insurance sector recorded year-on-year total original premium income of 114.76bn yuan ($16.77bn), up 8.62% from 105.65bn yuan in January 2007.

26 Feb 2009

Regulation

Hartford chief operating officer to retire

Tom Marra has said he will retire from the chief operating officer's position at US insurer The Hartford in July.

26 Feb 2009

Commercial

QBE net profit falls 3.5%

QBE Insurance Group has reported that its pre-tax profits have fallen 3.5% to $1.86bn for 2008 compared to the previous year.

26 Feb 2009

Colombian construction insurance set to grow

Jardine Lloyd Thompson said it expects a 'large increase' in construction insurance requirements in Colombia.

26 Feb 2009

Personal

MMA Insurance launches new motor trade product

Broker insurer MMA Insurance has launched a new product designed to offer smaller motor traders cover for their premises and liabilities.

26 Feb 2009

Personal

MMA launches Internal Risks proposition

Broker insurer MMA Insurance has launched a new Motor Trade Internal Risks product. It has been developed following feedback from MMA's broker base and is designed to offer smaller motor traders cover for their premises and liabilities.

26 Feb 2009

Personal

LIU Europe creates new UK crisis management team

Liberty International Underwriters Europe, a division of Liberty Mutual Group, has created a UK-based crisis management team.

26 Feb 2009

RSA to cut 1,200 jobs

RSA has said that it is to to cut 1,200 jobs as its pre-tax profits rose 13%.

26 Feb 2009

Claims

Maiden Holdings reports Q4 net income of $20m

Maiden Holdings, the Bermudian (re)insurer, said that net income for the fourth quarter of 2008 was $20m.

26 Feb 2009

Claims

RBS Insurance profits rise to £780m

Royal Bank of Scotland has reported a 13% rise in profits within its insurance arm at the same time as reporting a record loss of £24.1bn for the overall group.