News
Swiss Re rating upgraded due to "limited" exposure to eurozone debt
AM Best has upgraded the financial strength rating (FSR) to A+ (Superior) from A (Excellent) and issuer credit ratings (ICR) to “aa-” from “a+” of Swiss Re and its subsidiaries.
Total UK GI premiums rose 5% in 2010
UK general insurance premiums increased by 5% in 2010 to £46.4bn, according to the Insurance 2011 report by TheCityUK.
Catlin hires new admin officer
Insurer Catlin has announced that Swiss Re’s Adrian Spieler will join in February as group chief administrative officer.
Axa warns of Christmas motor fraud
Axa has claimed December prompts huge jumps in fire and theft motor claims as one in ten consider defrauding their insurer to ease the financial pressures of Christmas.
Beazley confirms interest in Hardy
Beazley has confirmed it is interested in buying fellow Lloyd’s insurer Hardy, put up for sale after large Thai flood claims.
21 December: Frosty reception
After a long hard day at work Mr Policyholder couldn’t wait to get back to spend the evening with his family at the home they shared in a fairly remote part of the country.
Equity Red Star names Dodd for fleet
Equity Red Star has appointed Andrew Dodd as its new motor fleet class underwriter, charged with growing key accounts.
Eiopa says insurers failed stress test
The European Insurance and Occupational Pensions Authority has warned that its low yield stress test showed that the insurance industry would be hurt if yields remain low for a prolonged period of time.
Mapfre placed on Rating Watch Negative
Mapfre’s ‘A’ Issuer Default Rating and its core operating subsidiaries’ ‘A+’ Insurer Financial Strength (IFS) rating have been placed on rating Watch Negative (RWN) by Fitch Ratings.
Tokio Marine Europe focuses on regional operations
Tokio Marine Europe Insurance has expanded its UK underwriting team with two new recruits.
Jubilee exit for former CEO Loucaides
Jubilee Group Holdings chief executive Johnny Rowell has this morning announced that Andreas Loucaides will be leaving the business with immediate effect.
Swiss Re reports on 'promising' future for emerging markets
Swiss Re’s latest sigma report claims insurance in emerging markets has experienced strong growth over the past decade and the outlook for the next decade remains promising.
Bowring Marsh opens Middle East hub
Bowring Marsh, the specialist placement division of Marsh, has opened an office in Dubai to serve the growing demand for international insurance placement in the Middle East.
Tokio Marine bolsters UK operation with double appointment
Tokio Marine Europe is preparing to grow its UK regional operation following the appointment of Leigh Meekings and Rob Skilbeck to the firm’s underwriting team.
Law commissions proposals will lead to premium rise, says ABI
The Association of British Insurers fears the law commission proposals on insurance contract law will lead to an increase in premiums.
Total insurer IPT bill close to £30bn
Insurers handed over £2.4bn in insurance premium tax in the year 2010/11, a rise of more than 6% on the previous year (£2.253bn), government figures reveal.
MEP wants cheap premiums for women
Conservative member of the European Parliament Marina Yannakoudakis has vowed to change EU rules to allow insurers to offer women lower insurance premiums.
Crash-for-cash contempt ruling victory
Insurers will be able to pursue crash-for-cash fraudsters through the courts more easily thanks to a legal precedent set yesterday, according to Esure solicitors Horwich Farrelly.
Philippines storm: Port cities hit by Washi devastation
A tropical storm in the Philippines has killed hundreds and caused flood damage to government infrastructure and commercial properties.
Swiss Re reports on emerging markets
Swiss Re’s latest sigma report claims insurance in emerging markets has experienced strong growth over the past decade and the outlook for the next decade remains promising.
Post Blog: Is brand the new price?
It's recently been found that brand recognition trumps price when consumers purchase via price comparison sites. What does this mean for the future of aggregators and how can insurers and brokers best build their brand among customers?
Axa sells Denplan to focus on PMI
Axa has sold dental payment plan business Denplan to the Simply Health Group for £115m on a debt free cash free basis.
Zurich puts low cost motor cover online
Zurich has launched a branded online motor insurance product to be sold direct and through price comparison website Confused.
Law commissions open consultation on late claim payments
The Law Commission of England and Wales, and the Scottish Law Commission have called for improved remedies for late payment of valid insurance claims, suggesting insurers pay legitimate claims in a reasonable amount of time.