News
BIS 2011: EU economy could go into meltdown, warns former Bank of England boss
The former deputy governor of the Bank of England Sir John Gieve has forecasted the European economy will either slowly limp along to recovery and see unemployment rise or go into complete meltdown.
European Aviva boss appointed IRM director
The Institute of Risk Management has today announced the appointment of Aviva European enterprise risk director José Morago to its board of directors.
Brett & Randall unveils new HQ for turnover push
Insurance broker Brett & Randall have opened a new £2.5m head office in Leicester as it looks to double its turnover to £100m.
ECIC expands team with senior hires
The Electrical Contractors’ Insurance Company has appointed John Flaherty as regional business development executive and promoted Sharon Miller to sales manager.
PwC: Economy may scupper ABI diversity plans
PricewaterhouseCoopers has backed an Association of British Insurers report calling for increased boardroom diversity but warned that the economy may “put pressure” on implementation.
ABI calls for boardroom reform
The Association of British Insurers has called for a raft of changes to insurance boardrooms including an increased number of women and new guidance on executive pay.
RBSI appoints director of pricing
RBS Insurance has recruited Rudi Van Delm to its personal lines executive team as director of pricing, subject to FSA approval.
Canopius says Omega deal has backing
Canopius has said that it expects to complete its due diligence following its 83p a share proposed bid for Omega by 30 September 2011.
Water damage creating costly commercial claims
Approximately 50% of claims made on commercial buildings and contents insurance are for damage cause by escape of water, property insurance specialist Cadogan Keelan Westall has found.
AM Best maintains stable outlook for UK non-life industry
AM Best is maintaining a stable outlook for the UK non-life industry, despite diminishing reserve redundancies and the uncertain economic climate.
Fitch adds to Groupama's woes
Fitch Ratings has downgraded Groupama SA's and four of its core insurance subsidiaries' insurer financial sStrength ratings to 'BBB' from 'A-'.
Cigna acquires First Assist for £71m
Global health services company Cigna has agreed to acquire travel and protection insurance firm First Assist Insurance Services from Barclays Private Equity.
Marsh to assist SMEs managing trade credit
Marsh has said it has enhanced its Cover Credit service to assist small to medium enterprises to manage trade credit risk.
Omnibus II points to 2014 Solvency II implementation date
The European Council has now agreed a position on Omnibus II as detailed in the accompanying paper to the redraft issued late last week, according to KPMG.
Allianz "plods" for charity
A team of seven employees from Allianz Legal Protection have completed a 40 mile night walk through the Cotswolds raising over £6 500 for Action Medical Research.
Williams to head D&O for LIU Europe
Liberty International Underwriters in Europe has appointed Guy Williams as head of directors' and officers and financial institutions.
Italian insurance credit fundamentals remain strong
The credit fundamentals of Italian insurers remain strong despite concerns over sovereign risk.
Lorega adds new adjuster
Lorega Solutions has appointed Adrian Starr as a chartered loss adjuster.
Liberty appoints head of D&O
Liberty International Underwriters in Europe has appointed Guy Williams as head of directors and officers and financial institutions (D&O/FI).
Surplus lines industry continues to suffer
The surplus lines industry suffered an unprecedented fourth year of declining premiums in 2010, a new report has found.
Delta Lloyd creates dedicated wind team
Dutch insurer Delta Lloyd is creating a dedicated wind energy team, to take advantage of its experience in the sustainable growth market.
Ai Claims profits up 38%
Motor claims management firm, Ai Claims, has reported a profit after tax of £2.7m in the year to 30 June 2011 - up 38% on the £1.9m it made the previous financial year.
Cobra sells broking operations to Aston Scott
Cobra has sold its insurance broking operations in Caterham and Alton to ASG Risk Management, a subsidiary of Aston Scott Group.
AM Best calls for UK insurer price hikes
UK Insurers need to put up prices and cannot release reserves for much longer because of the weak economy ruining investment returns, AM Best has warned.