News
Axa appoints new product household director
Axa Personal Lines has recruited Gareth Howell who will be based in its Cobham offices.
Investment in the Arctic could reach $100bn in 10 years
This is according to a report released today by Lloyd's in conjunction with Chatham House.
Japanese insurers to limit tanker coverage due to sanctions
Japanese oil buyers will be forced to coordinate schedules after insurers warned they will cover only one tanker transporting Iranian oil at a time after the 1 July sanctions deadline.
Ex Bluefin MD appointed to consultancy role at TIP
The Insurance Partnership has named former Bluefin MD Graham Coates as executive consultant working directly with the board.
Ocaso appoints new Manchester office head
Spanish insurance company Ocaso UK has promoted Paul Costigan to manager of its Manchester office.
Canopius promotes Manning to group COO
Specialist reinsurer Canopius has promoted Steve Manning to group chief operating officer with responsibility for all operational matters.
Reinsurer capital remains strong despite near record catastrophe losses
Global reinsurer capital fell 3% during 2011 to $455bn (€345.5bn), according to an Aon Benfield Analytics study examining the impact of catastrophe losses on reinsurers' capital and earnings positions.
BAFSA report calls for government rethink on high-rise sprinklers
The British Automatic Fire Sprinkler Association has hit back at a government report describing the installation of sprinklers in high-rise flats as "not practical" by producing a 'safer high-rise living' guide to support its call for change.
Non-life premiums may fall amid China's economic slowdown
China's economic slowdown may lead to reduced premium income for the region's non-life insurance market, according to a senior industry figure.
Red 24 to brief CNA clients on kidnap risk
US commercial insurer CNA has appointed crisis response firm Red 24 to provide advice and response for kidnap, ransom and extortion.
Underwood steps down as Colement chairman
The chairman of Lloyd's broker Colemont Insurance will step out of the hotseat on 31 May having spent seven years with the firm.
Indonesia quake could cause premium hikes
Aftershocks from yesterday's 8.6 magnitude earthquake in Indonesia may lead to cover restrictions and premium and deductible increases, according to industry sources.
Mitsui Sumitomo to acquire 26% stake in New York Life
Japan's largest casualty insurer plans to acquire a 26% stake in Max New York Life Insurance Co to expand its business in the Indian insurance market.
Direct Line to support IPO by raising debt
Direct Line bosses are thought to be clearing the way to raise debt in order to achieve a £3.2bn IPO – making it one of the UK's biggest recent stock market listings.
Canopius unveils 'significant' executive committee shake-up
Canopius has today announced a major shake-up of its group executive committee which sees Steve Manning promoted to group chief operating officer.
Insured losses from Sumatra earthquake 'not significant'
Yesterday's 8.6 magnitude earthquake in Indonesia is not expected to cause significant insured losses, according to catastrophe modelling firm AIR Worldwide.
Aviva sale of US life assurance business could raise £1bn
Aviva group chief executive Andrew Moss has allegedly revealed that the firm may consider offers worth around £1bn for its US life assurance business, according to reports in the FT.
Car insurance prices fall for first time in more than three years
The results of the Confused and Towers Watson car insurance price index for the first quarter of 2012 also reveal that the cost of comprehensive cover fell by 3.3% in the last quarter, with third-party, fire and theft premiums seeing a smaller decrease…
Quindell ups Ingenie investment to 19.7%
Quindell has acquired a further 16.4% of Ingenie, the insurance intermediary digital brand for young drivers, in exchange for £2.85m. The investment takes Quindell’s holding in Ingenie to 19.7%.
Insurer hails first ABI metal theft meeting a success
The Association of British Insurers and its members have held the first metal theft working group in a bid to find solutions to the escalating crime.
Free webinar: The property & casualty market in South East Asia
Post and Insurance Insight in conjunction with the Chartered Insurance Institute will present a free webinar on the property and casualty insurance markets in South East Asia today at 16:00 Hong Kong time and 8:00 GMT.
Supreme Court decision could save insurers £100m per year, claim Zurich fraud bosses
Zurich fraud bosses are confident of setting a "ground-breaking" precedent by which fraudulent third-party claimants are left empty handed, as part of a long-running legal battle which could save the industry £100m per year.
Speeding motorists face insurance premium hike
Insurers increasingly likely to charge higher premiums after a motoring conviction according to research by AA Insurance.
Hyperion defends move to sell majority stake in CFC Underwriting
Hyperion chief executive David Howden has denied speculation that the sale of the firm’s majority stake in CFC Underwriting could signal a greater focus on the broking arm of its business.