News
Axa index records consumer concerns over cost of motor cover
Axa personal lines boss Nick Turner believes last month's motor claims summit hosted by the Prime Minister has sparked "public consciousness" regarding the cost of cover and the perceived compensation culture.
Hong Kong insurance premiums grow 9% to $225.8bn
Hong Kong's insurance industry grew 9% in 2011, with total gross premiums reaching $225.8bn, according to the region's Office of the Commissioner of Insurance.
Iranian oil: sovereign cover requested by Indian shipowners
One of India's largest shipping companies, SCI, has requested sovereign guarantee from the government to domestic shipliners for transport of crude oil from Iran.
Hong Kong GI business grows 10%
Hong Kong's Office of the Commissioner of Insurance has revealed that total gross premiums of the Hong Kong general insurance industry in 2011 grew 10.7% to $34.7bn with net premiums up 8.5% to $23.8bn compared with 2010.
Allianz names Mallaby for special claims
Allianz has appointed Sarah Mallaby, pictured, to its Claims division as casualty and motor manager.
QBE finds firms expect two-year recovery
A pre-budget survey by commercial lines insurer QBE has found that 77% of UK businesses expect it to be two years or more before the UK sees a full economic recovery – with half (49%) not expecting a turnaround for three years or more.
Quindell's 2011 £4.1m profit beats market
Quindell Portfolio has announced results for the 15 months ended 31 December 2011 that it claims are "significantly ahead of market expectations".
Guernsey and Malta sign double tax agreement
Guernsey has signed a comprehensive Double Taxation Agreement with Malta, the third tax agreement for the captive favourite, after deals with the UK and Jersey.
Risk management poll
Is risk management more about measuring than understanding risk?
Cunningham Lindsey staff told investors seeking buyer for loss adjuster
Global claims management group Cunningham Lindsey has told staff that its investors are looking to find a new owner for the business, Postonline understands.
CEO of UK regulator to step down in June
Hector Sants, chief executive of the UK Financial Services Authority, has announced his intention to leave the organisation at the end of June 2012.
Far East 'cold spots' and nat-cats lead Canopius to report first loss
A string of natural catastrophe losses in 2011 drove Canopius Group to the first loss in the company's eight-year history.
Solvency II lobbying has "clearly paid off"
PwC has commented on the proposed last minute deal struck by Parliament to not drop the matching premium ahead of Wednesday's Solvency II Economics and Monetary Affairs Committee vote.
Lawyers respond to Sants' exit from the FSA
Mathew Rutter, regulatory partner at DAC Beachcroft, said that Hector Sants' departure from the Financial Services Authority at the end of June could not come "at a worse time" for regulated firms.
European insurers win ground in Solvency II debate
European Union insurers could be spared the full impact of solvency rules owing to a last-minute agreement on Thursday between senior lawmakers.
Sants set to quit FSA in June
The chief executive of the Financial Services Authority, Hector Sants, has announced his intention to leave the organisation at the end of June.
Groupama UK CEO eases sale concerns with "terrific" results
Groupama UK chief executive Francois-Xavier Boisseau has declared himself "delighted" with his firm's performance after recording a pre-tax profit increase of 84% to £43.5m last year across combined operations.
Asian states lobby EU in hope of Iran oil sanctions U-turn
European Union foreign ministers are expected to consider how the bloc's Iranian oil embargo will affect insurers at a meeting in Brussels next week, under mounting pressure from Asian states to change their stance.
Mitsui Sumitomo expands construction team with Burgess hire
Lloyd's insurer Mitsui Sumitomo said it has strengthened its commitment to the UK construction market by appointing Adrian Burgess as underwriter.
Mitsui Sumitomo strengthens construction arm with Burgess appointment
Mitsui Sumitomo at Lloyd's has strengthened its commitment to the UK construction market by appointing Adrian Burgess as underwriter.
Swiss Re seeks approval for dividend increase to €2.48
The Swiss Re board of directors has proposed the approval of a dividend for 2011 of CHF3.00 (€2.48) per share and the election of Robert Henrikson to the board.
Cobra to cut costs in holding company
Retail and wholesale insurance broking group Cobra is to continue to focus on core revenue areas while carrying out a cost reduction programme in relation to its holding company and overhead costs in order to reflect the smaller size of its operating…
Insurers still wary despite Solvency II deal ahead of vote next week
The European Parliament's two biggest parties have tentatively agreed to include measures related to Solvency II legislation that could save the industry billions and avoid a long delay to the rules' implementation, according to reports.
Groupama CEO reaffirms employees and policyholders despite £1.5bn net losses
Groupama chief executive Thierry Martel has blamed "adverse market conditions" on huge capital losses, attributing the group's net result of a loss of almost €1.8bn (£1.5bn) to the Greek debt crisis.