News
Thai floods: Insured losses to be "managable", says Fitch
Insured losses from the Thailand floods will be “manageable” at $4.5bn and not trigger widespread solvency problems, or undue financial strain for the country’s non-life insurance players, according to Fitch Ratings
Aspen suffers nine month losses of $193m
Aspen Insurance Holdings reported underwriting losses of $193.8m in the first nine months of this year compared to a profit of $74.6m last year.
Insurers warned over FSA bank account consultation
Law firm Beachcroft has warned that Financial Services Authority consultation on the way packaged bank accounts are offered could provide a “significant hurdle” for insurers offering add-ons.
Ecclesiastical names MD for Ireland
Ecclesiastical has appointed David Lane as the new managing director for its Ireland business.
Ecclesiastical appoints Foley's replacement as Ireland MD
Specialist charity and heritage insurer Ecclesiastical has appointed David Lane as the new managing director for its Ireland business.
LV announces senior underwriting appointment
LV Broker has appointed Tom Maughan as a senior underwriter for its Bournemouth branch, which looks after brokers in Dorset, Hampshire, West Sussex, the Isle of Wight and the Channel Islands.
BLG to close Singapore office
Insurance law firm Barlow Lyde & Gilbert will close its office in Singapore following its merger with Clyde & Co.
Axis launches in Argentina
International loss adjuster Axis has opened a liability claims hub in Argentina.
BLG to close Singapore office
Insurance law firm Barlow Lyde & Gilbert will close its office in Singapore following its merger with Clyde & Co.
Thailand flood losses manageable for insurers
While the current flooding in Thailand is unusually severe and economically costly, the insured losses are likely to be at a manageable level and will not trigger widespread solvency problems, or undue financial strain, for the country's non-life…
Munich Re receives A+ (superior) rating
Munich Re has had its financial strength rating affirmed of A+ (Superior) and issuer credit ratings of “aa-” along with its subsidiaries.
Extending the ELD could have damaging consequences
A proposal today by the EC for a new law to regulate safety standards for offshore oil and gas operations could have unintended consequences for the environmental liability market, according to the CEA.
Purple Partnership snaps up 60th member
The Purple Partnership has today celebrated the news that it is likely to be announcing results “ahead of expectations” by signing up its 60th member.
L&G: escape of water claims cost £730m
The L&G (Legal & General) ‘stop the drop’ campaign has underlined the fact that house insurance claims from an escape of water damage in UK homes cost the insurance industry £730m - almost double the £370m cost of burglary claims over the same period.
Trend in shrinking homes halts after more than a century
The trend for new homes to be built to a diminishing floor area halted last year, compared with those built since the turn of the twentieth century.
Rina to reach Mexico in 36 hours
Hurricane Rina is expected to hit popular tourist destination Mexico in the next 36 hours.
London market open for electronic trading with e-accounts
The London market’s ambition to alleviate administrative costs for brokers has moved a step closer with its electronic trading system e-accounts now operational.
Lee to succeed Haste at RSA from 1 November
Further to the announcement made on 4 August 2011 regarding Andy Haste’s intention to step down, RSA has confirmed that Simon Lee will succeed Haste with effect from 1 November 2011.
Axa reports revenue up across Europe for Q3
Axa has reported increases its third quarter property & casualty revenues for all regions in Europe.
Ace’s earnings hit by investment losses
Ace has reported reduced profits for the first nine months of 2011 and a loss for Q3, which it blamed on $760m in net realised investment losses.
Dublin suffers flooding after torrential rain
Torrential rainfall has caused widespread damage on both sides of the Irish Sea, with Dublin suffering the worst of the impact.
Fitch affirms ratings of Generali's German subsidiaries
Fitch Ratings has affirmed the ratings of Generali Deutschland Group's German non-core subsidiaries Envivas Krankenversicherung AG and Advocard Rechtsschutzversicherung AG.
Aqua replaces Sterling for Biba HNW
The British Insurance Brokers’ Association is to dump high net worth insurer Sterling after 15 years as its preferred supplier and appoint a recently launched broker-only HNW underwriter.
Mapfre sees 13.9% increase in GWP up to Q3 in 2011
Spanish reinsurer Mapfre’s gross written premiums for the first three quarters of 2011 were $14.7bn, a 13.9% increase year on year.