Commercial
AIG reveals $972m payment to US Treasury after MetLife deal
AIG has announced that it had paid the United States Department of the Treasury $972m to reduce the liquidation preference on one of the special purpose vehicles created as part of the government's assistance to AIG.
Fitch affirms ‘A’ IFSR of ACI
Fitch has affirmed the ‘A’ insurer financial strength rating of Amlin Corporate Insurance, reflecting the strategic importance of the commercial lines writer to the Amlin group.
LIU Europe opens Hamburg branch
Liberty International Underwriters has opened a new branch in Hamburg, Germany as it seeks to become a competitive, niche player in the region.
In conversation with RSA: distinguishing from rivals in SME commercial
The SME commercial market remains one of the most highly competitive in the UK insurance space.
Aon reports 38% jump in profits for third quarter
Aon net revenue increased 38% to $198m (£122.8m) for the quarter ended 31 September 2011, compared to $144m for the previous year.
Thai floods: Insured losses to be "managable", says Fitch
Insured losses from the Thailand floods will be “manageable” at $4.5bn and not trigger widespread solvency problems, or undue financial strain for the country’s non-life insurance players, according to Fitch Ratings
LV announces senior underwriting appointment
LV Broker has appointed Tom Maughan as a senior underwriter for its Bournemouth branch, which looks after brokers in Dorset, Hampshire, West Sussex, the Isle of Wight and the Channel Islands.
Career development news: HSBC staff complete CII diplomas
More than 130 HSBC staff have successfully completed the Chartered Insurance Institute’s diploma in financial planning and diploma in regulated financial planning.
Broking supplement - Price promises: Love it or hate it
While the price promise bandwagon is seen by some as a valuable marketing tool, to others it is merely ‘dumbing down’ the industry
McManus Towergate move rubbished as Wilkinson wins Willis UK CEO role
Market speculation suggests that outgoing Willis UK & Ireland chief executive Brendan McManus will target a role at another major broker, after well-placed sources rubbished rumours linking him with a move to Towergate.
Market moves: All change at Zurich and Willis
Following a slow period, large insurers made a number of key appointments this week, including major moves at Zurich, Allianz and RSA.
Interview - David McMillan: Bullish about the business
Chief executive of Aviva UKGI, David McMillan is convinced the insurer has turned a corner and is on the path to greater profitability and growth
Thai floods: Waters set to overwhelm Bangkok
Loss adjusters are preparing for the complete flooding of Bangkok as waters reach the centre of the city.
Post magazine – 27 October 2011
This week the Post team reports on feelings of a “whiff of Katrina” among loss adjusters about the Thailand floods that have already inundated two industrial estates in Bangkok - affecting multinational firms including Apple and Ford Motors.
Thai flood losses set to escalate - Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories including feelings of a “whiff of Katrina” among loss adjusters about the Thailand floods that have already inundated two industrial estates in Bangkok - affecting…
Labour front bencher admits concerns over Jack Straw's referral fee ban plan
The Labour Party is not wholly behind its minister Jack Straw’s proposal to ban referral fees it has emerged.
Chubb Europe makes UK & Ireland appointment
Chubb Insurance Company of Europe has appointed Jon Nottingham, sales and marketing manager UK & Ireland.
ALC Health launches underwriting partnership with Axa
Medical insurance provider ALC Health has announced that it will be transferring its underwriting capacity to Axa PPP International from 1 December 2012.
LV snaps up ex-Chartis boss
LV has appointed former Chartis boss Kevin Wildman as branch manager for its Exeter office.
McManus departs Willis
Brendan McManus, the CEO of Willis Limited, who until recently had served as CEO of Willis United Kingdom & Ireland is to leave the broker.
Brit adopts "one broker, one quote" approach
Brit Insurance is to enter into exclusive relationships with its partner brokers to avoid “mimicking competitors” on price.
Ex-Swiftcover boss promoted to RSA e-business head
Global insurer RSA has appointed former Switfcover boss Ian Hood as group e-business director.
Editor's comment: Yet another call for action
How often do we hear that rallying cry for the insurance industry to up its lobbying credentials and persuade government to deliver change that will safeguard both citizens and businesses alike? All too often.
News analysis: Call for mandatory sprinkler systems reignited by Dunelm Mill fire
On 6 October 2011, local fire fighters lamented the absence of sprinklers in a Dunelm Mill store that suffered a major blaze on the Orchard Retail Park in Willenhall, Coventry.