News
Philippines non-life market expected to consolidate in wake of new capital requirements
The local Philippine's insurance representative body has noted that some local non-life insurers may have challenges meeting the government's new paid up capital requirements.
XL may have $185m Thai flood claims
Insurer XL has said its preliminary net loss estimates from the Thailand floods could be as much as $185m.
Industry responds to cost of motor insurance follow up report
The industry has delivered mixed responses to the Transport Committee's follow up to the cost of motor insurance report.
Further committee recommended in cost of motor insurance follow up report
MPs have called on the government to establish a cross-departmental ministerial committee on reducing the cost of motor insurance and publish a plan to address each aspect of the problem.
EC gender directive guidelines a ‘disappointment’
The European Commission’s guidelines for applying the soon-to-be-implemented gender directive have added clarity but have been labelled a “disappointment”.
Breast implant scare could leave insurers facing multi-million-pound-bill
A £400m bill could land at the door of clinics and their insurers in the fallout of the banning of Poly Implant Prothese breast implants.
Allianz launches ‘landmark’ scholarship scheme
Up to 50 brokers across the country are expected to sign up for a “landmark” Allianz Commercial scholarship scheme aimed at boosting standards of professionalism within the industry.
Growth in green energy prompts Rural to enter market
Specialist agricultural insurer Rural, part of UKGI, is the latest business to launch a suite of green insurance products to meet the growing demand for cover from farmers investing in renewable energy schemes.
Mitie wins out in four-year repair tender with LV
Mitie has secured a four-year contract to manage and deliver building repair services valued at £20m with LV.
Insurers welcome compensation reform as legal firms blast government policy
Major UK insurers have responded to David Cameron’s vow to “kill off” the UK compensation culture by welcoming a reduction of health and safety red tape, while demanding safeguards to maintain safe workplaces.
News analysis: Ombudsman moves to end ‘one size fits all’ fees for mass complaints
FOS consultation proposes supplementary fees to tackle record PPI complaints workload.
Market moves: New faces in the broker space
This week saw a flurry of moves in the broking sector, with both Lorica and Alan & Thomas brining in several new faces.
Bartlett & Company becomes Lloyd's broker
Bartlett & Company has today announced its new position as a registered Lloyd’s broker.
RBSI appoints former British Gas rebranding guru
Rick Vlemmiks is set to join RBS Insurance as chief marketing officer, UK & International.
Aspen Risk Management gains chartered insurers status
Aspen Risk Management has been awarded corporate chartered insurers status by the Chartered Insurance Institute.
Omega goes quiet on sale talks
Lloyd’s insurer Omega is refusing to comment on speculation that sale plans are on the backburner.
Names protest group calls for Lloyd's meeting over Equity censure
A Names protest group that was burdened with losses from Equity Syndicate’s 2007 account is seeking a meeting with the Lloyd’s Enforcement Board to discuss the findings of its investigation.
Mixed 2012 renewals for global reinsurance market
The 1 January 2012 renewals saw a shift in industry behaviour as both insurers and reinsurers implemented more sophisticated, customised approaches to risk assessment and mitigation, according to Guy Carpenter.
Cyber threat poses huge global risks
Fiscal problems, global connectivity and demographic shifts pose the biggest risks in the next few years, according to the World Economic forum’s 2012 Global Risks report.
Colosso exits Gallaghers amid growth-driven exec restructure
Arthur J Gallagher International has confirmed that Adrian Colosso, chief executive of UK Retail and former CEO of Heath Lambert prior to its acquisition, will not return to the business following his sabbatical, as it unveiled a new-look executive team…
Gallaghers confirms Canopius underwriting move
The CEO of AJ Gallagher International has confirmed a team from Canopius’ UK underwriting division is set to join the broker, hailing it a “massive step” for OIM Underwriting.
XL merges property and asset protection divisions
XL Group has combined its property underwriting and XL Global Asset Protection Services to form one unified team of risk engineers worldwide.
XL announces in-house underwriting and engineering merger
XL Group has combined its property underwriting team and global asset protection services engineers to form a unified international team of almost 200 risk engineers.
Guy Carpenter renewals report identifies shift in industry behaviour
The position by reinsurers to undertake a major review of pricing and underwriting heading into renewal season has led to “significant market fragmentation and increased volatility”, according to Guy Carpenter’s 2012 global reinsurance outlook.