News
XL merges property and asset protection divisions
XL Group has combined its property underwriting and XL Global Asset Protection Services to form one unified team of risk engineers worldwide.
XL announces in-house underwriting and engineering merger
XL Group has combined its property underwriting team and global asset protection services engineers to form a unified international team of almost 200 risk engineers.
Guy Carpenter renewals report identifies shift in industry behaviour
The position by reinsurers to undertake a major review of pricing and underwriting heading into renewal season has led to “significant market fragmentation and increased volatility”, according to Guy Carpenter’s 2012 global reinsurance outlook.
Lloyd's coverholder appoints ex-Chartis VP to launch French arm
Equinox Global, an approved Lloyd’s cover holder specialist in trade credit insurance, has appointed Alban De Malherbe to launch a French office.
Cooper Gay expands marine reinsurance team
Lloyd’s broker Cooper Gay & Co has appointed John Sullivan as a director of its reinsurance division.
Lifestyle Services Group names new CEO
Lifestyle Services Group has appointed Chris Harrison as CEO.
Deloitte predicts household premium rises of up to 10% in 2012
Household insurance premiums are likely to rise between five and 10% in 2012, according to Deloitte.
RSA Swedish reserving not an issue according to analyst note
There is no clear evidence of under-reserving at RSA, according to analyst Jefferies despite the fact in Scandinavian this remains inherently volatile.
UK bankruptcy of Quinn Insurance owner annulled
A British court has annulled the bankruptcy of Sean Quinn, Reuters reports.
IAG revises half year perils outlook after Xmas day weather claims
Insurance Australia Group has confirmed that its Australia Direct and CGU businesses had received to date approximately 24 000 claims following the hailstorms and related severe weather which occurred in Victoria around Christmas Day.
UK bankruptcy of Quinn Insurance owner annulled
A British court has annulled the bankruptcy of Sean Quinn, Reuters reports.
Insurers must not lose sight of long term challenges
Speaking as part of the Insurance Institute of London Lecture programme, Mark Hoban, MP, financial secretary to the treasury, said that there is “no place for complacency” in the insurance sector.
Cat losses for 2011 second highest on record
Total insured natural catastrophe losses of $107bn (£69bn) in 2011 were the second highest on record - surpassed only by the 2005 total of $120bn.
Canopius underwriting team joins Gallagher
Former employees of Canopius’ UK underwriting household and personal property team are thought to have joined Arthur J Gallagher, Post has learnt.
Kiln CEO joins Lloyd's Franchise Board
CEO of Lloyd’s insurer Kiln, Charles Franks has been named as a non-executive director of the Lloyd’s Franchise Board.
China's "cash before cover" regulation introduces ambiguity
Regulations designed to enhance cash flow for Chinese insurers will introduce ambiguity into the market and could lead to reduced policy coverage, according to Marsh China.
ATE insurer Elite enters solicitors' PI market in dramatic u-turn
Legal expenses provider and after-the-event insurer Elite Insurance Company will be entering the solicitors’ professional indemnity insurance market this year in a dramatic u-turn to its position last year.
Elite opens offices in France and Italy
Specialist legal and after-the-event insurer Elite is expanding its footprint in Europe by opening two new offices.
Adrian Flux becomes first broker to sign up with tyre safety group
Adrian Flux has become the first insurance broker to sign up with safety campaigning group Tyre Safe.
Canopius boss and underwriting team to quit
Canopius UK household underwriting head Chris McGinn and a “certain members” of his team are to quit the firm.
Chinese insurance sector faces "deeply-rooted problems" according to chief regulator
The head of China's Insurance Regulatory Commission has issued a stark warning to the country's insurance sector, despite robust premium growth in 2011.
Hyperion confirms Windsor takeover talks
Hyperion has confirmed that it is in discussions with Lloyd’s broker Windsor over a potential takeover deal.
Hyperion in takeover talks with Windsor
Hyperion Group is currently in discussions with Windsor Limited regarding a potential offer for the company.
Giles outlines new role for Hessett following Chambers exit
Bosses at Giles have defined the role of newly appointed deputy finance director Alastair Hessett, who has been promoted internally following the exit of former director Mark Chambers.