News
Towergate hit with Moody's downgrade
Moody's has cited "significant" levels of debt and limited earnings as the reasons behind its downgrade of Towergate, following publication of the consolidator's results.
Sichuan quake leaves 100 000 homeless
A 6.6 Mw earthquake in the Sichuan province of China has left nearly 100 000 Chinese homeless, and may have dealt severe damaged insured industrial facilities in the region, according to Eqecat.
Management consultant in Singapore hires three insurance veterans
Solutions Providers, a management consultant for financial services, has appointed three senior insurance professionals to its management team.
QBE's credit rating downgraded
Ratings agency Moody's has downgraded QBE's credit rating from a A3 to Baa1 with a "negative" outlook.
2013 general insurance premiums to grow strongly in Malaysia
The General Insurance Association of Malaysia expects general insurance gross written premiums to rise between 6% and 9% in 2013.
70% of drivers think speed cameras are money-making machines
More than 19m UK drivers (70%) think speed cameras exist to make money rather than prevent accidents, according to a study by Go Compare.
NFU Mutual appoints ex-Axa boss as sales and agency director
Rural insurer NFU Mutual has named Nick Turner as the successor to the sales and agency director role vacated by Ian Leech.
Insurers not spared Cyprus haircut
Cypriot insurance companies will be affected by a bail-in on deposits, contrary to previous reports.
German watchdog makes light of Solvency II delays
The postponement of Solvency II is not a major problem, according to Felix Hufeld, the head of German regulator BaFin’s Insurance Supervision Directorate.
Beazley bolsters marine liability and cargo operation with double hire
Beazley has to strengthen its marine liability and cargo capabilities with two new hires.
Europe View from the Top: Frederik Wulff
The protective nature of the German insurance market has historically meant that local property and casualty insurers have been willing to provide generalised cover across a range of industries, ensuring profitability when claims increase, or demand…
Aquiline completes Equity acquisition
New York-based private equity firm Aquiline has completed its deal to purchase Equity Insurance Group.
Hodges upbeat about network future
Towergate chief executive Mark Hodges said he is confident that the firm’s network division can create an “incredible service offering for brokers” despite a 24% drop in its operating earnings in 2012 to £10m (2011: £13.1m).
UK is 'Europe's whiplash capital' states ABI select committee submission
The Association of British Insurers has published its submission to the Transport Select Committee’s recently closed whiplash inquiry, in which the association labelled the UK as “the whiplash capital of Europe”.
Clear Insurance acquires Steveni Kessler
Clear has acquired the noth-London based commercial specialist general insurance business Stevni Kessler.
Irish insurers expect significant growth in 2013
More than half of (re)insurance companies in Ireland experienced growth in 2012, according to a members' survey by the Dublin International Insurance and Management Association.
Insurance Europe welcomes EC paper on disaster insurance
Insurance Europe has welcomed the European Commission’s investigation into the availability of catastrophe insurance.
Mass: Britain’s ‘have a go’ culture must end
The Motor Accident Solicitors Society has called for an end to the ‘have a go’ culture endemic across Britain, which has contributed to an increase in fraudulent motor accident claims.
Coverbox takes up new Stamford offices
Telematics insurer Coverbox has relocated its management, marketing and admin teams to new bases in its home town of Stamford, Lincolnshire.
Ex-Chelsea trainee boosts sporting connection at Thomas Carroll
Thomas Carroll Group has snapped up former Chelsea Football Club trainee Geza Hajgato to take on the role of account executive within the firm’s commercial insurance division.
Hiscox names property head as new London unit CUO
Hiscox has restructured its London operations, separating the insurance and reinsurance lines in a bid to foster growth.
Hill Dickinson cements fraud partnership with police
Hill Dickinson has signed an information agreement with the Metropolitan Police, building upon their existing six-year counter-fraud partnership.
L&G drops GAB Robins from claims pilot
Legal and General will proceed with two loss adjusters on its claims pilot programme after dropping GAB Robins.
Aviva linked with 'astonishing' Co-op bid
Aviva could be in line to make a bid for The Co-operative Insurance’s non-life business, according to a report in the Sunday Times.