News
Indian insurance giant appoints new chairman
Dinesh Kumar Mehrotra has taken over as chairman of India's largest insurer, Life Insurance Corporation of India.
GM China boss predicts upturn in motor sales after slump
General Motors has claimed that the Chinese motor industry is poised to rebound from its worst four-month slump in 14 years.
Hyperion IPO to reach 'critical mass'
Hyperion's acquisition of Windsor will boost the international broker's chances of a successful IPO, analysts have said.
Indonesian insurers told to prepare for life as non-profit organisations
State-owned Indonesian insurance companies PT Askes and PT Jamsostek have been asked by the House of Representatives to make preparations for their transformation into non-profit public institutions.
Munich Re pulls Indian reinsurance support over premium concerns
Munich Re has almost pulled out of India entirely, it has been reported.
Hyperion completes Windsor takeover deal
International insurance intermediary group Hyperion has confirmed it will acquire Lloyd's broker Windsor from the management and employees and their institutional backer Hutton Collins.
Tenth of Brits clueless about home insurance cover, says L&G
Almost one in 10 people in the UK do not know what is covered by their home contents and building insurance policies.
Carmichaels rebranded as Argent
Specialist property adjuster Carmichaels has been rebranded as Argent Property Adjusters as part of parent company Parabis Group's integration of its loss adjusting businesses.
DLG latest firm to support OFT's credit hire referral
The Direct Line Group has become the latest insurer to back the Office of Fair Trading's decision to provisionally refer the study into vehicle repair services to the Competition Commission.
Korea Life and KB Financial shortlisted for ING acquisition
Korea Life Insurance and KB Financial Group have been shortlisted in the bidding for ING Groep NV's life insurance operations in Asia, according to Dow Jones newswires.
Labour backs calls for competition probe into UK motor
Maria Eagle MP, Labour's shadow transport secretary, has thrown her weight behind earlier calls for a fully fledged investigation into the "spiralling" cost of UK private motor insurance.
Ace launches mobile phone air-time fraud cover
Ace Group subsidiary Ace Insurance has introduced a mobile phone air-time guard for Asia Pacific, which it claims is the first of its kind.
Gable reports 37% profit growth amid unstable market conditions
Gable has reported a 37% rise in pre-tax profit to £3.7m in the year ending 31 December 2011.
India's insurance sector faces manpower shortage
India's insurance sector is facing a potential dearth of qualified professionals owing to the rapid growth of insurance penetration in the country, according to industry insiders.
Apil applauds investigation into motor insurers' "grubby practices"
The Association of Personal Injury Lawyers has claimed that motor insurers have "finally been caught with their hands in the cookie jar" following the Office of Fair Trading decision to refer the sector to the Competition Commission.
Fitch expects 'severe adverse effects' for any country exiting the euro
A special report published by Fitch today addresses the possible impact on credit ratings of countries redenominating after a Eurozone breakup.
Strong growth prospects for Nordic life market
Growth prospects for the Nordic life insurance markets remain strong, but insurers will have to assess the viability of selling contracts with investment guarantees due to high capital charges under Solvency II, according to Fitch.
QBE appoints country manager for new Belgium operation
QBE has named Erik de Smedt as country manager for Belgium, following a decision to open an underwriting office in Brussels.
ABI and Accident Exchange boss clash over 'scapegoating' of credit hirers
The director of general insurance at the Association of British Insurers and the chief executive of credit hirer Accident Exchange have exchanged heated emails after the ABI welcomed the Office of Fair Trading's decision to provisionally refer the motor…
ISA 2012: Insurers urged to sharpen up claims management processes
Rising claims recorded in Asia due to the Thailand floods and Japan earthquakes mean that optimising claims management is critical for insurers seeking to improve customer satisfaction.
Transport Select Committee backs credit hire Competition Commission investigation
The Transport Select Committee has welcomed the Office of Fair Trading's provisional decision to refer an investigation into credit hire and third-party repair to the Competition Commission.
LV Broker launches ABC Home on Open GI
The new deal follows the success of the ABC car insurance product on the platform and is part of LV Broker's continuing strategy to strengthen its electronically traded product range.
Industry must work together to tackle motor insurance costs, says Mass chairwoman
The Motor Accident Solicitors Society has called the Office of Fair Trading report into the third-party vehicle repairs issue the "tip of the iceberg" with a Competition Commission investigation almost inevitable.
FM Global makes senior appointments in Asia and Europe
FM Global has made a number of senior changes to its management team in Asia and Europe.