News
Moody's downgrades outlook on US health insurers
The fundamental credit outlook for the UShealthcare insurance companies, spanning the next 12-18 months, hasshifted to negative from stable, Moody's Investors Service concludes inits recent report on the sector.
Arig turns in Q3 net loss
Arig, the Middle Eastern (re)insurer, announced a net loss of $10.8 m for the first nine months of 2007, down from a net profit of $10.3 in the first nine months of 2008. The group blamed "the global financial turmoil and the steepest fall in recent…
Demand for reinsurance expected to rise more than 20% in 2009/10 - Citi
Demand for reinsurance cover is expected to rise more than 20% in the two years, a senior analyst at Citi has said.
RSA encourages retailers to protect against power cuts
RSA is urging retailers to seek protection against the threat of winter power cuts.
Fitch gloomy on outlook for South Korean guarantee insurer SGIC
South Korean guarantee insurer Guarantee Insurance Company's (SGIC) has had the outlook on its insurer financial strength rating (IFS) revised to 'negative' from 'stable' and had its rating simultaneously affirmed at 'A'.
WR Berkley to buy Norwegian specialty insurer
WR Berkley said it has signed a letter of intent to acquire Oslo, Norway-based NEMI Forsikring ASA, which focuses on specialty lines of insurance.
RSA CEO Brown confirms restructure
Adrian Brown has announced a number of changes to RSA's senior management and a reorganisation of its key divisions.
Confused welcomes FSA comparison site review
Carlton Hood, chief executive officer of Confused, comments on the Financial Services Authority's price comparison site review.
Go Compare says FSA review raises "industry-wide issues"
Go Compare has commented on the conclusion of the Financial Services Authority’s review of insurance comparison websites.
Ryanair Rome near-crash insured by Axa - source
A Ryanair flight which narrowly averted a crash after a flock of birds was caught in the plane's engines was insured by French insurance giant Axa, Reinsurance has learned.
Biba welcomes FSA's comparison site review
The British Insurance Brokers’ Association has welcomed the Financial Services Authority’s call for prompt action to be taken by comparison websites.
Airline rates continuing to climb - Willis
After years in the doldrums, airline insurance rates are continuing to rise, according to research from Willis.
Malaysia's Ambak to buy MAA's nonlife unit
(BestWire) — MAA Holdings Bhd said it has signed a memorandum of understanding with AmG Insurance, a nonlife insurance subsidiary of AmBank Group for the sale of Malaysian Assurance Alliance's nonlife insurance business in Malaysia.
FSA concludes its review of comparison websites
A further Financial Services Authority review of insurance comparison websites has found that many sites have made significant improvements and are consistently providing clear, fair and not misleading information, but some firms need to go further to…
IAG outlines 2009 strategy after loss-making year
(BestWire) — Insurance Australia Group Ltd. said it is "on track" in its business improvement effort, coming off a loss-making fiscal year which saw the group rebuff a takeover attempt from larger rival QBE Insurance Group Ltd.
Greenberg slates AIG board
(BestWire) — Maurice "Hank" Greenberg said the board of directors of American International Group Inc. were sleeping at the wheel even as the company slipped into a financial abyss.
Dodd leaving Acturis
The director of Acturis Mike Dodd has decided to leave the company for personal reasons.
FSA review says comparison websites need to go further to address specific concerns.
A further Financial Services Authority (FSA) review of insurance comparison websites has found that many sites have made significant improvements and are consistently providing clear, fair and not misleading information, but some firms need to go further…
FSA announce acceleration of the full integration of TCF into core supervisory work.
The Financial Services Authority (FSA) has announced that it will accelerate the full integration of Treating Customers Fairly (TCF) into core supervisory work.
Xchanging Conference Report
Reinsurance Magazine talked to Sue Langley from Lloyd's, Dave Matcham CEO of the International Underwriting Association,..
Towergate launches commercial vehicle breakdown cover
Towergate Underwriting’s specialist transportation division has launched a new commercial breakdown policy Truck Assist, which offers subscription based breakdown cover to haulage clients.
Aviva's Moss to co-chair Treasury led insurance working group
The UK government has set up two new industry groups to be co-chaired by the Chancellor, Alistair Darling MP to look at the insurance and investment sectors. The co-chair of the insurance group is Aviva CEO Andrew Moss along with representatives of Legal…
Shortfall in information funding costly private treatment
The insurance industry is failing to provide people with clear information about the financial benefits of private medical insurance (PMI), according to new research revealing more than four out of five people (83%) would borrow money or dip into their…
New PAYD car policies launched
Coverbox, a new pay-as-you-drive insurance product, is being launched to the UK consumer market in January 2009.