News
Post pick of the week
Anthony Gould, editor in chief of Incisive Media's insurance division outlines the major news in the general insurance sector reported in tomorrow’s issue of Post including; A row has erupted between private doctors and insurers over allegations of…
UK Insurers could save £1.4bn from plaques decision
Deloitte has estimated that today’s House of Lords ruling on the asbestos-related condition, pleural plaques, may reduce future claims to insurance companies by up to £1.4 billion, in relation to their UK asbestos liabilities.
Eversheds in swoop from Lovells' Munich office
Heisse Kursawe Eversheds has hired Fabian Volz from Lovells’ Insurance and Product Liability team. Mr Volz has 10 years of experience in dealing with international matters in product liability, product safety, insurance and reinsurance and will join…
$260m Japan quake risk shifts to capital markets
A $260m catastrophe bond offering protection against a major earthquake in Tokyo has been placed by Munich Re on behalf of the East Japan Railway Company.
Zurich hails plaques judgement
Zurich Insurance has applauded the House of Lords' judgement in the pleural plaques test cases, declaring this decision upholds the philosophy of compensating only injured parties.
Minister responds diplomatically to insurer withdrawal threat
Debate in the House of Lords on flood defences has seen the insurance industry criticised for apparently threatening to withdraw cover for at risk areas. In questions to the Labour minister Lord Rooker, Lord Davies of Coity asked if it was "a bit much"…
Analysts support Munich Re's US acquisition
Financial analysts Keefe Bruyette and Woods (KBW) have reacted favourably to Munich Re’s plans to buy US primary insurance company Midland.
Russian insurance market to double
The value of the Russian insurance market is set to double to US$ 41 billion over the five-year period 2006-2010, according to a new Lloyd's Market intelligence report.
House of Lords: No compensation for victims of pleural plaques
The House of Lords has ended compensation for the asbestos related condition pleural plaques.
Russian insurance market set to double by 2010 says Lloyd's report
The value of the Russian insurance market is set to double to $41bn over the five-year period 2006-2010, according to a Lloyd's Market intelligence report.
Munich Re in $1.3bn US specialty buy
Munich Re has announced that it has concluded an agreement to buy US primary insurance company Midland for $65 per share, worth $1.3bn (€0.9bn) in all and which represents a 12% premium to their last closing bid price of $58 a share.
Ace strengthens presence in Lloyd's
Ace Bermuda International has announced the opening of a new box at Lloyd's to further complement the company's business development strategy.
Provident launches on Acturis broker platform
Provident Insurance - recently acquired by GMAC – has revealed that its products are now on the Acturis broker platform.
MMC securities repositions under Guy Carp brand
Global broking and advisory group Marsh & McLennan Companies (MMC) has announced that it has changed the name of its MMC Securities investment banking subsidiary to GC Securities and has expanded its capabilities in Europe.
EA in sales restructure
Europ Assistance has re-organised the structure of its sales and account management functions.
Axa corporate boss calls for rating stability
A leading personality in the international insurance industry has said that if the current soft market cycle taking hold is to flatten out, then premium rates must be stabilised if insurers are to achieve stable and adequate pricing. And that means…
List of top electronic claims file performers omits entire G6
Lloyd’s of London has published a list of brokers that are using the London Market’s electronic claims files (ECF) for 100% of inscope claims, effectively naming and shaming other companies by omission.
Groupama signs up for Key Choice commercial intiative
Groupama has joined Key Choice's commercial initiative -the business network for users of Software Solutions Partenres (SSP)systems. It has been created to deliver a wider range of commercial lines products to its 750 members and drive growth in the…
Electronic processing lags behind MRG's target
The Market Reform Group found that 45% of the total market volume of in-scope claims are being processed electronically, falling short of MRG's target of 60% for the end of Q3.
GAB Robins continues accounting drive
GAB Robins has announed the appointment of Carolyn Steeper as a senior adjuster and forensic accountant in its major and complex loss division.
PWS expands into Colombia
London-headquartered specialist international broker PWS, has announced that it has opened a new office in Bogotá, Colombia and has appointed Ian Webb as its president.
Transamerica continues EU expansion with Madrid office
Life reinsurer Transamerica Re has announced a continuation of its expansion into the European life reinsurance market with the opening of a representative office in Madrid
UIB appoints North African region representative
United Insurance Brokers appointed Ali Belamri as a new representative for the North African Region.
DWF hails staged accident victory
Six men suspected of conspiring to cause accidents at roundabouts in Leeds have had their claims for compensation thrown out of court. They have also been ordered to pay the legal costs of their cases following a successful defence by law firm DWF on…