Commercial
Ace boss Greenberg sees "firming rates" in Q4 as 2011 profit falls 49% to $1.59bn
Ace Insurance has reported 49% change in its year end profit having reported net income of $1.59bn (2010: $3.11bn) in 2011.
NIG launches property owners product
NIG has introduced a new product for commercial property owners after identifying a gap in the market.
Ironshore enters Asian market with Singapore hub
Bermuda-based property and casualty specialist, Ironshore, is opening an office in Singapore to provide commercial products for the Asian marketplace.
Commercial insurers to benefit from 'negative declarations' judgment
The position of commercial insurers defending claims has been strengthened after the Court of Appeal confirmed the power of arbitrators to make ‘negative declarations’.
Arc Legal teams up with Swinton Commercial
Arc Legal Assistance has secured a deal to provide commercial legal expenses and an extended online employment manual service to Swinton Commercial.
Thirty insurers linked to Costa Concordia disaster
More than 30 insurers are likely to carry the cost of stricken Costa Concordia cruise ship.
Websure completes R&Q Marine Services implementation
Specialist insurance software provider Websure has completed the implementation and launch of R&Q Marine Services which was formed when the yacht and marine trade teams portfolio was transferred from Underwriting Risk Services.
Global tanker fleet hit by EU oil sanctions
New European Union sanctions on Iranian oil will impact around 95% of the global tanker fleet, including those operated by a major Bermuda shipping company, because they are insured under rules governed by European law.
NED Tim Ablett leads Europ Assistance UK MBO
Europ Assistance’s non-executive director and former Groupama managing director Tim Ablett has confirmed he is leading the management buyout of the travel insurer’s UK and Ireland arm.
Flooding, fraud and asbestos: ABI outlines 2012 priorities
The Association of British Insurers has outlined the key priorities for 2012 to reduce insurance costs including seeking a free market flood model and dealing effectively with asbestos claims.
XL expands political risk and trade credit team
XL Group is expanding its global political risk and trade credit team with four new appointments based in London.
Career development: Sterling to open Manchester branch
High net worth insurer Sterling is set to boost its headcount with the opening of a new hub in Manchester.
Credit hire: Two sides to the story
Credit hire organisations and insurers are blaming each other for the cost of credit hire. With the Office of Fair Trading conducting a review, will anyone emerge victorious?
Post magazine – 26 January 2012
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Towergate secures five-year Allianz deal
Allianz will continue to lead Towergate commercial underwriting’s insurer consortium for the next five years, increasing their share from 40% to 70%.
Reinsurance rates in Spain fell at January renewal
Reinsurance rates in Spain fell at the January 1, 2012, renewal, despite the effects of the European financial situation on the primary market.
Thai cat fund could prove too costly for reinsurers
International reinsurers will have to be “seriously convinced” the Thailand government’s catastrophe fund is profitable if they are to insure it.
Legal cover firm creates online broker portal
A motor and family legal cover provider has launched a free online portal which allows brokers to browse policies and documents on 50 types of commercial and personal lines cover.
Cyclists urged to support Allianz-backed bike ride
The Prince’s Trust has announced that its Palace to Palace cycle ride will be coming to the West Midlands for the first time.
Cruise ship disaster: Hannover Re hit with multimillion pound loss
International reinsurer Hannover Re has suffered a marine hull loss of €30m from the Costa Concordia disaster.
McCammon is Liberty Mutual's new COO
Liberty Mutual Insurance Europe has appointed John McCammon, pictured, as its new chief operating officer.
Markel enters German market through joint Anglo venture
Markel International has signed a joint venture agreement with Anglo Underwriting and moved into Germany.
Crawford to handle Oxford St flood claims
Loss adjuster Crawford & Company has confirmed it is handling claims arising from a burst water main on Oxford Street in London.
View from the Top: The Eurozone crisis is an enterprise risk issue
The Eurozone crisis and its potential impact on the insurance industry are an enterprise issue for risk managers and commercial customers - and not solely the domain of finance managers.