News
Asian Expansion: Local experts explain the market's attraction
Insurance Insight recently extended its coverage to include Asia. As part of the new remit Francesca Nyman spoke to some of the region’s major players about where they have a presence in the market, why Asian is attractive and the opportunities for…
NED Tim Ablett leads Europ Assistance UK MBO
Europ Assistance’s non-executive director and former Groupama managing director Tim Ablett has confirmed he is leading the management buyout of the travel insurer’s UK and Ireland arm.
Brightside board claims 'record year' in progress update
Brightside bosses are preparing to announce figures for a “record year” in which the acquisitions of E-Systems and eDevelopment have helped contribute to a significant increase in reported earnings per share.
US broker acquires London-based Chesterfield
HW Kaufman Financial, parent company of wholesale broker and underwriter Burns & Wilcox is to buy London-based insurance broker and underwriter Chesterfield.
Ex-Direct Line boss to chair A&A group after PE-backed MBO
Darwin Private Equity has entered into an agreement to acquire The A&A Group and Hyperformance Limited in a management buyout.
Fraudulent insurance claims buck trend in overall rise
Reported cases of false insurance claims were down by more than 26% last year, despite general levels of fraud in 2011 rising by almost 9% on the previous year.
Malaysian Reinsurance Berhad has "A-" IFS rating affirmed
AM Best has affirmed the financial strength rating of "A-" (Excellent) and issuer credit rating of “A-” of Malaysian Reinsurance Berhad, the wholly owned subsidiary of MNRB Holdings Berhad.
G Cube adds millions to green energy capacity
Renewable energy underwriter G Cube has boosted its offshore capacity by £64m to meet increasing demand.
FSA boss promises fairer deal for consumers with new regulatory approach
Financial Services Authority managing director Martin Wheatley has outlined an “orthodoxy and regulatory” approach for the future of conduct regulation – geared towards getting a fair deal for consumers.
Fitch: eurozone stress analysis concludes further rating actions unlikely
Fitch Ratings says that it does not expect to take any further rating actions on European insurers as a result of its most recently updated eurozone stress test analysis.
Japanese insurance giant plots merger
NKSJ Holdings, Japan's third-largest general insurer, is planning to merge its two main units, Sompo Japan and Nipponkoa Insurance, according to report.
Chubb’s profits fall as premiums rise
US insurer Chubb has reported rising premiums but falling income in the fourth quarter, echoing a year of reduced operating and net income on 5% higher net income.
Quinn administrators face 20% fee cut
The President of the High Court in Dublin has knocked 20% off the fees sought by the joint administrators of Quinn Insurance, saying the work they are doing now is routine, the Irish Examiner reports.
Europ Assistance UK completes MBO
Europ Assistance’s UK and Ireland arm has been the subject of a management buyout, Post has learned.
Fresh delay for Solvency II
Solvency II may not be implemented until 2015 – two years later than planned, according to a report in the Financial Times Deutschland.
Solvency II faces further delay
Solvency II may not be implemented until 2015 – two years later than planned, according to a report in the Financial Times Deutschland.
BMS opens in New York
Broker BMS has launched a new office in New York.
Eurozone woes dictate global credit outlook
The intensification of the Eurozone crisis in H211 triggered an overall rise in the proportion of negative rating outlooks assigned by the agency, according to Fitch Rating’s latest bi-annual global credit outlook report.
Flooding, fraud and asbestos: ABI outlines 2012 priorities
The Association of British Insurers has outlined the key priorities for 2012 to reduce insurance costs including seeking a free market flood model and dealing effectively with asbestos claims.
Japenese life insurers to provide 100 billion yen loan to Tokyo Electric
Four major Japanese life insurers including major shareholders Nippon Life Insurance Co and Dai-ichi Life Insurance Co are planning to provide a 100 billion yen ($1.30bn) syndicated loan to Tokyo Electric Power Co as early as April, according to Reuters.
VRS Vericlaim snaps up ex-Cunningham Lindsey director Burnett
Loss adjuster VRS Vericlaim has made what is expected to be the first of several 2012 recruitment coups with the appointment of former Cunningham Lindsey regional director Michael Burnett.
XL expands political risk and trade credit team
XL Group is expanding its global political risk and trade credit team with four new appointments based in London.
CCV completes first two deals of 2012
Lyon Insurance Services in Anglesey and Crown Insurance Brokers in Birmingham have been fully acquired and both will join existing CCV businesses.
Tawa, Skuld and Paraline complete Whittington deal
A consortium comprised of Tawa, Skuld, and Paraline Group has completed on the acquisition of Whittington Insurance Market.