News
XL redomiciles to Ireland with new name
XL Group has completed its previously announced redomestication to change the parent holding company’s place of incorporation to Ireland from the Cayman Islands.
IPT rise adds to NHS pressure
The Association of Medical Insurance Intermediaries has slammed the 1% rise in insurance premium tax from 5% to 6% in last week’s Budget claiming it puts the NHS under greater pressure.
Amlin backs new Dual division
Dual Corporate Risks has launched a property & casualty division with initial capacity to be provided by Amlin.
Markel revamps property division
Markel International has reorganised its property division in a bid to enhance the service it offers brokers and ensure better market coverage.
Hurricane Alex makes landfall on Texas-Mexico border
Hurricane Alex drenched the Texas-Mexico border in the early hours on Thursday as the powerful storm slammed into Mexico's Gulf coast, spawning tornadoes and flooding towns, but sparing US oil wells.
House passes financial reform bill
The US House of Representatives approved a landmark overhaul of financial regulations on Wednesday but the Senate put off action until mid-July, delaying a final victory for President Barack Obama.
Jubilee names new motor boss
Jubilee Managing Agency has appointed John Shepherd as head of motor at Jubilee Syndicate 5820.
Canopius completes KGM deal
Canopius Group today confirmed that it has acquired the business of KGM Underwriting Agencies, which manages Syndicate 260, together with approximately 60% of Syndicate 260's capacity.
Reinsurance pricing resists pressure
Major losses from the Chile earthquake and storms in Australia in the first quarter of 2010 have had little impact on pricing in the global reinsurance market.
Catlin joins solicitors' PI market exodus
Bermuda-based insurer Catlin has become the latest player to withdraw from the troubled solicitors' professional indemnity insurance market.
Torus seals deal to "accelerate" European expansion
Torus has today completed the acquisition of Glacier Insurance AG from the Glacier Group.
Ernst & Young names Baldwin new insurance boss
Andy Baldwin has been named managing partner of Ernst & Young’s Europe, Middle East, India and Africa Financial Services business.
Torus seals deal to "accelerate" European expansion
Torus has today completed the acquisition of Glacier Insurance AG from the Glacier Group.
Ernst & Young names Baldwin new insurance boss
Andy Baldwin has been named managing partner of Ernst & Young’s Europe, Middle East, India and Africa Financial Services business.
Torus predicts tablet surge after Ipad first
Torus has predicted the tablet computer will revolutionise the insurance industry, after the firm claimed to be the first insurer to conduct board meetings using Apple's Ipad.
Markel welcomes rating boost
A.M. Best has upgraded the issuer credit rating of Markel International Insurance Company Limited, Markel International’s London-based insurance company.
Post in print - 1 July 2010
Post reporter Amy Ellis provides a 60-second round-up of the major news headlines from tomorrow's issue of Post.
Lloyds Banking Group announces insurance job cuts
The part nationalised bank is set to cut 650 jobs, with the majority of redunancies set be made at its insurance office in Nottingham.
Ex-AIG's Cassano defends no-losses proclamation
The former head of the AIG unit that led to a $182bn bailout pledge from taxpayers stood by a 2007 proclamation that the insurer would not lose even a dollar on a portfolio of securities that included subprime mortgages.
Aviva offers repair guarantee
Aviva Direct's motor policies will come with a lifetime guarantee on the repair quality carried out by an Aviva approved repairer from today.
40% chance of storm passing Gulf spill by end of August: RMS
RMS suggested there is just over a 15% chance that a tropical storm or hurricane will pass within 100 miles of the Macondo oil well before the end of July, rising to more than 40% by the end of August, requiring precautionary evacuation of the…
Alex becomes a hurricane
Alex has intensified to become the first hurricane of the 2010 season, making it the first June hurricane in the Atlantic since 1995. Hurricane forecast to hit Texis/Mexico border on Thursday.
Aon Benfield recommends internal models to boost reinsurance value under Solvency II
Aon Benfield has launched a new report that examines the many different facets of the Solvency II framework ahead of the scheduled 2012 inception of the protocol.
Willis Re promotes Byng
Willis Re has named James Byng Property Resource group leader for its International and Specialty reinsurance business.