News
Guernsey and China sign regulation MoU
Guernsey has signed a memorandum of understanding with the China Insurance Regulatory Commission, signalling an increased level of cooperation between the regulatory bodies of both markets.
Global insurance M&A fell 13% in 2016, says Clyde & Co.
Last year the number of completed mergers and acquisitions of general / life insurers and reinsurers across the world fell 13% from 2015 according to global law firm Clyde & Co.
Insurance Council of Australia appoints Suncorp's Day as president
Following the sudden departure of QBE's former group COO Colin Fagen earlier this year, the Insurance Council of Australia has named his replacement as president.
Blockchain-based insurtech company could settle claims in seconds
Blockchain based insurtech company Iclaims has come up with an app-based solution that could settle single item claims in seconds.
RSA appoints Gearey as CRS MD
RSA has appointed James Gearey has managing director for Commercial Risk Solutions.
Brexit could drive mergers and acquisitions in 2017
Brexit could result in a wash of distressed insurance businesses, driving a rise in mergers and acquisitions, a report has warned.
Greenlight Reinsurance Ireland appoints ex-Liberty chief as CEO
Property and casualty reinsurer Greenlight has appointed ex-Liberty boss Patrick O’Brien as CEO of the company.
Ogden change could raise reinsurance rates by 400%
Higher layer reinsurance rates could increase by up to 400% as a result of the change to the Ogden discount rate, experts say.
XL Catlin granted Monaco licence
XL Catlin has received regulatory approval to write business in Monaco.
Ecclesiastical UK underwriting profit tops £25m
Ecclesiastical has reported underwriting profits £25m from its UK and Ireland business in 2016, up from £11.6m in the prior year.
Two reinsurance brokers enter Indonesia
The Financial Services Authority of Indonesia has granted operating licenses to two more reinsurance brokers.
Suncorp buys a further 11.3 million shares in New Zealand's Tower
Brisbane-headquartered financial services group Suncorp has increased its stake in New Zealand general insurer Tower.
Tesla could enter insurance market with in-house policies
Tesla is planning to enter the insurance market with its own policies if industry products don’t reflect the needs of drivers.
Lloyd’s and Arium develop long-tail liability model
Lloyd’s has teamed up with modelling company Arium to enable insurers to better model long-tail liability exposure.
Insurers ‘missed chance’ to influence insurance rules over drones
Insurers are sleepwalking into legislation over drones that they have had no role in shaping, it has been warned.
Invicta acquires Priory Brokers' GI portfolio
Invicta Insurance Services will acquire the entire general insurance portfolio of Priory Insurance Brokers in April for an undisclosed amount.
CII hires former Zurich policy chief
Matthew Connell has been appointed as director of policy and engagement at the Chartered Insurance Institute.
Startup Bootcamp Insurtech partners with Zurich
Zurich has entered into a partnership with Startup Bootcamp and will be engaging with its portfolio of start-ups.
'White Van Man' hit with 14% van insurance hike
The rising cost of van insurance is adding to the financial pressure on the "White Van Man", according to Consumer Intelligence.
Youi's growth stalls in first half
Australian challenger insurer Youi saw a 30% rise in profits but premium growth stalled in the first half of the year.
Car accidents rise in Singapore as total claims fall
The General Insurance Association of Singapore is investigating why car accidents climbed last year while the total payout in motor claims fell.
Interview: Guy Goldstein, Next Insurance
As Next Insurance launches today a chatbot allowing personal trainers to quote and buy insurance via Facebook Messenger, its founder and CEO Guy Goldstein tells Jonathan Swift how the American insurtech start-up plans on revolutionising the SME…
Prudential has ‘barely scratched the surface’ in Asia: Wells
Asian insurance markets continue to offer significant opportunity for international financial services group Prudential, the company’s CEO has said.
30 claims handler jobs at risk at Direct Line
Direct Line Group has placed 30 claims handler jobs under review.