News
Top five European news stories
The top five stories from www.insuranceinsight.com over the past seven days.
Ace promotes underwriter Knox to managerial role in Scotland
Ace has promoted senior casualty underwriter Gordon Knox to the position of casualty manager for Scotland.
Law firm and solicitor numbers drop in industry first
The number of law firms and private practitioners in England and Wales have both decreased for the first time ever, according to the latest Law Society’s Annual Statistical Report.
Talanx targets 10% increase in net income annually
German insurer Talanx is eying annual net income growth of 10% for the next three to five years, it's chairman Herbert Haas has said.
BMS boss Beardmore resigns as firm focuses on 'phase two'
BMS Group chief executive Carl Beardmore has resigned with immediate effect.
People missing and buildings still ablaze following Texas explosion
An unknown number of people are dead and dozens of homes and buildings have been destroyed following an explosion at a fertiliser plant near Waco in the US state of Texas.
Duo joins PHP board of directors
The Private Health Partnership has appointed two new board members.
ING to float US stake for $1.5bn
Dutch banking giant ING has filed a preliminary prospectus with the US Securities and Exchange Commission for the initial public offering of its US insurance and investment business.
Charles Taylor appoints director
Run-off specialist Richard Hayes has joined Charles Taylor Insurance Services as strategic business planning and development director and is charged with driving the firm's plans for growth in the insurance services market.
Quindell enters North America through acquisition
Quindell Portfolio has entered the North American insurance market through its acquisition of software as a service-based provider Iter8 in a deal worth £20.8m.
Ping An releases online bird flu cover
500 bird flu insurance policies have been sold since 12 April by Chinese insurer Ping An, as poultry industry losses hit 10bn yuan.
Global insurance rates climbed in first quarter, according to Marsh
Global insurance rates climbed 0.3% in the first quarter of 2013 bolstered by the US market, continuing an 18 month trend, according to Marsh’s latest global insurance market quarterly briefing.
Mystery over source of bird flu in China
Dr Zeng Guang, the chief of epidemiology at the Chinese Centre for Disease Control and Prevention has revealed that 40% of the 82 confirmed H7N9 bird flu victims have not had recent contact with poultry.
CIRC raises insurer share cap for domestic investors
The China Insurance Regulatory Commission has raised the limit for domestic investors in insurers to 51%.
Mutuals hit harder by some cat losses, says Willis Re director
While many of the claims issues arising from catastrophe losses are common to the insurance industry, some are more acutely felt by mutual insurers, Willis Re’s technical claims director has warned.
Boston bombs insured losses unlikely to breach $1m
Insured losses from a pair of explosions near the finish line of the Boston Marathon are unlikely to be significant, according to modeler Risk Management Solutions.
Towers Watson calls for executive pay to reflect ERM
A third of global risk executives are unhappy with links between risk management and their executive pay policies but have no plans to change their approach, according to a study by Towers Watson.
Swinton opens Chelmsford branch
Swinton Group has opened a new commercial branch in Chelmsford, Essex.
Ascot Underwriting opens New York office
Ascot Underwriting has opened an office in New York, which will be led by chief underwriting officer Paul Amrose.
Bluefin bolsters Bristol team
Bluefin has added to its business development team in Bristol with the recruitment of Lockton’s senior vice president for the South West.
Lloyd’s members agency Alpha unveils new chairman following buyout
Lloyd’s members agency Alpha Insurance Analysts has appointed John Scott as non-executive chairman, subject to approval of both the Financial Conduct Authority and Lloyd’s.
Cathedral listed for sale by PE backer
Lloyd's managing agent Cathedral Capital has been put up for sale by its majority owner Alchemy, a private equity group.
Tawa completes KX sale
Run-off specialist Tawa has completed the sale of 100% of its shares in KX Reinsurance Company to Catalina Holdings (Bermuda) following regulatory approval.
Minimal losses expected from Iran earthquake
Significant losses are not expected following the powerful M7.8 earthquake that struck Iran on 16 April, according to catastrophe modelling firms.