News
Towergate predicts further growth for 2009 after renegotiating banking facilities
Towergate Partnership has predicted a 13% rise in 2008 income to £315m after renegotiating the terms of its long-term banking facilities.
RBS sells Spanish Direct Line
Spanish bank Bankinter will pay Royal Bank of Scotland €426m (£375m) in cash for the half of the Spanish unit of Direct Line Insurance it does not already own.
Admiral selects software provider
Software provider Sword Ciboodle has secured a deal with Admiral Group to provide its customer relationship management platform.
Swinton to create 250 new roles by end of 2009
Insurance giant Swinton is set to create more than 250 new jobs in its Norwich-based call centre by the end of 2009.
IFAA begins consultation process for insurance claims adjustment
The International Federation of Adjusting Associations (IFAA) begins a consultation process next month with the ambition of creating a universally recognised best practice protocol for the adjustment of insurance claims and will be inviting…
Lloyd's Brazil office given stamp of approval
Lloyd's has opened an office in Brazil after receiving approval from the Superintendence of Private Insurance to become the first admitted reinsurer in the country.
KPMG welcomes ‘clarity of approach’ to Solvency II
Professional services firm KPMG has welcomed the revised Solvency II agreement and has urged the insurance industry to make it a top priority.
Zurich subsidiary acquires AIG auto unit
AIG has sold its US Personal Auto Group to a subsidiary of Zurich, Farmers Group.
threesixty take stake in IFA consolidator Bright
threesixty, a fee-based IFA support services provider has confirmed that it has taken a minority stake for an undisclosed sum in IFA consolidator, Bright Financial Services, which specialises in the acquisition of small to medium sized IFAs.
AIG confirms sale of 21st Century to Zurich
AIG has confirmed the sale of 21st Century, its US auto insurance unit, to Zurich for $1.9bn.
Fraud rises 30%, according to ABI
Insurers are detecting record levels of fraudulent insurance claims – 2000 every week, worth £14m – according to figures released today by the Association of British Insurers.
Life and personal accident reinsurance rates fall nearly 4% - Guy Carpenter
Life and personal accident reinsurance rates continued to resist upward pressure at the April 1, 2009 renewal, consistent with the downward trend witnessed at the Jan 1 2009 renewals, according to a briefing published today by reinsurance broker Guy…
Lloyd's - the reinsurance market speaks
Post's sister title Reinsurance wants to know what you think of Lloyd's as part of its ongoing monthly online survey of readers - Rethink. What are your views on Lloyd's new underwriting performance director; the possibilities of success of the new Lloyd…
What do you think?
All of us at Reinsurance would love your input on a number of issues affecting to the Reinsurance market.
Moody's dampens mood on US commercial lines insurance sector
Moody's Investors Service has revised its outlook for the US commercial lines insurance sector to negative, from stable.
Small businesses resolute despite recession
As recessionary pressures continue to bite and are clearly impacting on the survival of the nation's small and medium sized firms, a number of business owners and mangers are embracing a blitz-type attitude and are resolute in spite of the ongoing…
Beazley links up with CEDR to promote dispute resolution
Beazley has joined forces with the Centre for Effective Dispute Resolution as part of an initiative to develop the use of conflict management in the insurance market.
EMB warns insurers to step up battle against fraud
EMB has responded to the Association of British Insurers' latest fraud figures that reveal a steep increase in the value and number of claims with a further warning to insurers to improve their act when it comes to tackling recession-induced fraud.
RFIB Holdings plans relocation to aid growth
Lloyd's insurance and reinsurance broker RFIB Holdings is moving to a new office in Gracechurch Street, London later this year.
Takaful market grows nearly 20% - report
The number of operators in the Takaful market has grown from 138 to more than 165, an increase of 19.6%, a report has shown.
Global takaful market could grow to nearly $8bn by 2012 - report
Global Takaful (re)insurance contributions have risen to $3.4bn in 2007 as compared to $2.5bn in 2006 and could jump to nearly $8bn by the end of 2012, a report from Ernst & Young has shown.
The Revival Group achieves international management status
The Revival Group, the fire and flood restoration specialists, have acquired ISO 9001 status.
Zurich on verge of buying AIG's US auto business for $2bn
Zurich is on the verge of buying AIG's US auto business 21st Century for around $2bn, sources told Reinsurance.
Talbot Underwriting records 11.4% increase in GWP
Talbot Underwriting Syndicate 1183, owned by Bermudian (re)insurer Validus Holdings, has recorded an 11.4% increase in gross written premiums to £383m (2007; £343.9m), but a drop in its syndicate profit to £41.6m from £75m in 2007.