News
BIS 2011: Industry warned over reliance on internet for information
“It is a danger to rely on publicly available information” the insurance industry has been warned by Ashwin Mistry, chairman of Brokerbility.
Zurich closes MAAB acquisition
Zurich Financial Services Group has completed the acquisition of 100% of the share capital of Malaysian composite insurer Malaysian Assurance Alliance Berhad.
Swiss Re chief becomes head of Climate Wise
Swiss Re director John Coomber is to become the new chairman of Climate Wise on 1 October.
Irish VHI loses ECJ case
The European Court of Justice has found that Ireland infringed European law by exempting VHI from insurance rules.
GAB Robins graduates first to pass CILA qualification
Three GAB graduate trainees have become the first to pass the new CILA certificate qualification.
Portuguese Tranquilidade's maintains 'BBB-' rating
Portuguese insurer, Companhia de Seguros Tranquilidade SA's maintains 'BBB-' insurer financial strength rating on rating watch negative.
Climate Wise chairman named
John Coomber, member of the board of directors of global reinsurer Swiss Re, will become the new chairman of Climate on 1 October.
BIS 2011: Insurers challenged to improve e-commerce
The starting point of a good website is no longer enough, insurers have been warned.
Bupa lands UK Sport deal
Bupa has been named as the official health insurance partner of UK sport.
Insolvencies drop among big firms
Credit data provider Experian says the rate of insolvencies dropped to 0.08% in August, its lowest point since February, but up on last August’s 0.07%.
European Council adopts road safety directive
The European Council has adopted a directive on cross-border exchange of information on road traffic offences, on the basis of a text agreed with the European Parliament.
Irish regulator banned Quinn family
Irish MP Caoimhghín Ó Caoláin has alleged that Financial Regulator Matthew Englefield tied the hands of the Quinn Insurance administrators by banning any bids from the Quinn family.
Keoghs and ABI target Lib Dem conference for claims culture talk
Law firm Keoghs and the Association of British Insurers have held an event about the UK’s compensation culture at the Liberal Democrat conference.
Irish regulator banned Quinn family
Irish MP Caoimhghín Ó Caoláin has alleged that Financial Regulator Matthew Englefield tied the hands of the Quinn Insurance administrators by banning any bids from the Quinn family.
BIS 2011: Technology to ‘rejuvenate’ insurance
Delegates at the British Insurance Summit were told in no uncertain terms that technology and social media are here to stay and urged to be a part of it.
XL Insurance strengthens international property lines
XL Insurance has appointed Philip Sexton International P&C onshore energy and general property manager for the UK, Ireland and Nordic regions, in a bid to strengthen its international property lines.
BIS 2011: Numerate grads the future of underwriting
The future of underwriting rests in the hands of graduates with strong numeracy skills and business understanding who are willing to embrace specialist areas of the industry.
HSBC bidders line up not to comment
QBE, Zurich and Allianz have refused to comment on speculation in a Reuters report that they are among bidders for HSBC’s insurance business.
AM Best withdraws ratings of Connaught
AM Best Europe has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-” of Connaught Insurance Company Limited (Connaught) (Guernsey), the captive insurance company of Thomas Greg & Sons Limited, a security printing…
BIS 2011: Regulation and balance sheet concerns blamed for below book trading
A combination of balance sheet concerns and the impact of Solvency II was identified as the main reason why insurers are trading below the book by delegates at the British Insurance Summit yesterday.
Amlin brings ambassador on board
Amlin has appointed former diplomat Sir Alan Collins, as an independent non-executive director, to take effect on 14 November 2011.
Aon names first ever European power chief
Aon Risk Solutions has appointed Denis Waerseggers to the newly created position of European power leader.
Ecclesiastical stops NZ quake cover
Ecclesiastical is to cease writing earthquake cover in New Zealand following the devastating series of earthquakes in Christchurch which contributed to the insurer’s biggest ever losses.
Sagicor quits casualty treaty reinsurance
Sagicor at Lloyd’s has pulled out of providing casualty treaty reinsurance following its earlier withdrawal from property treaty reinsurance in April 2011.