News
Asia-Pacific significantly underinsured for catastrophes, says Asia Development Bank
The Asian Development Bank has warned in a report that underinsurance for natural catastrophes in the region is enough to wipe out economic gains from GDP.
Quindell shares plummet 39% on 'defamatory' research note
Quindell has condemned an analyst note by Gotham City Research as “highly defamatory” and “deliberately misrepresentative” after its share priced nosedived following the note’s publication.
Interconnected cyber risks could cause global crisis
Organisations must improve their response to cyber risks if they are to avoid a global shock similar to the 2008 financial crisis, insurer Zurich has warned.
Ascot founder Reith joins Amwins board
Ascot Underwriting’s founder Martin Reith is to join the Amwins board as an independent director.
Catastrophes 'manageable' as global reinsurers post solid profits
Global reinsurers posted solid underwriting gains in 2013, as catastrophe-related losses were manageable and loss reserve development remained favorable, according to Fitch.
Endurance slams 'entrenched' Aspen board after 'poison pill' rights plan
Endurance’s chief financial officer Michael McGuire has accused Aspen’s management of being “entrenched” and “not aligned with shareholder interests” after the firm continued to ward off its attempted takeover.
R&Q: active syndicate will hinder 2014 results
Randall and Quilter chief executive Ken Randall has told Post he does not expect to see the firm’s active syndicate boosting figures until 2015.
Lockton signs up to Biba PI panel for a further three years
The British Insurance Brokers' Association has renewed its professional indemnity accredited broker contract with Lockton for a further three years.
Liberty Specialty appoints Beechey in Asia financial risk role
Liberty Specialty Markets, in conjunction with Liberty International Underwriters Asia-Pacific, has appointed Andrew Beechey as head of global financial risks, Asia-Pacific.
R&Q pre-tax profits down 17% after ‘weak’ active syndicate results
Randall and Quilter has seen its pre-tax profits slide by almost a fifth, falling from £11.6m to £9.6m after the firm recorded weaker than expected results from active syndicate participations.
National Accident Helpline tipped for £100m IPO
National Accident Helpline has announced plans for an initial public offering, with reports valuing the company at £100m.
Esure & Endsleigh slammed on small print
Two Esure brands and Zurich-owned Endsleigh have been condemned by a consumer campaign group for “incomprehensible” terms and conditions in car insurance policies.
2013 motor results 'best since 2006'
Motor insurance results for last year represent the sector’s best underwriting performance since 2006 according to a study by EY.
China consults on cross-province internet life insurance
The China Insurance Regulatory Commission is consulting on allowing insurers to sell 'simple' life insurance products outside their provinces on the internet.
Zurich wants Shanghai branch and China acquisitions
Zurich is seeking a Shanghai branch and merger and acquisition opportunities in China.
Markel's Tidey moves from Stockholm to Singapore
Specialty insurer Markel has appointed Luke Tidey as an assistant marine underwriter in its Singapore office.
Equity emerges from rebrand as ERS
Equity Insurance Group has rebranded as ERS - the latest move in the continuing overhaul of the business since its acquisition by Aquiline last year.
McLarens names Brown president in restructure
Commercial adjuster McLarens has named Americas regional director Gary Brown president and chief operating officer, freeing up chief executive Vern Chalfant to focus on strategy and acquisitions.
Video: Encouraging telematics take-up in the broker market
Whilst the issue of telematics is written large in the business plans of many insurers, the same cannot be said for brokers.
UK General sells compliance outfit UKGI to Thistle Initiatives
UK General has reached an agreement to sell its compliance consultancy business UK General Insurance to financial services firm Thistle Initiatives.
Teixeira joins Alvarez & Marsal as MD for risk advisory services
Willis’ former practice leader for integrated risk management services, Tom Teixeira, has joined Alvarez & Marsal as managing director for its risk advisory services practice.
CMC launches global insurance consultancy
CMC Insurance, a global consultancy aiming to rival the big four in the insurance and reinsurance space, has been launched by the team behind banking consultancy CMC Europe.
Co-op insurance profits up ten-fold despite 'disastrous' year
The Co-operative has seen insurance profits leap upwards in 2013, with the mutual attributing the boosted results to improved claims experience and strong performance of its home portfolio.
Ferma prepares to launch benchmarking survey
The Federation of European Risk Management Associations will launch its benchmarking survey on Tuesday 22 April in the UK and 19 other European countries.