News
Career file: Carl Beardmore
BMS CEO resigns from role as business concentrates on strategic development.
Market Moves: Ace, Bluefin, LV and Charles Taylor Insurance make new hires
It was honours even between the insurer and the broking sectors this week, with Ace once again leading the way for insurers with a couple of key hires.
Towergate’s B rating affirmed by Fitch
Fitch Rating has affirmed Towergate’s B rating and revised its outlook to stable from negative.
Generali opens Global Corporate and Commercial unit
Operations have begun at Generali’s Global Corporate & Commercial business unit, a platform established to integrate insurance services for medium and large multinationals.
Top 5 European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
Survey shows execs unclear on D&O risks
Regulatory investigations and enquiries, criminal penalties, and anti-corruption legislation, are among the top concerns for directors and officers, according to a new survey by broker Willis.
LMA unveils plan to cut whiplash bill
The Lloyd’s Market Association has laid out a five-point plan for reducing the annual cost paid out of over £2bn for whiplash claims.
100 000 left homeless by Sichuan earthquake
A 6.6 magnitude earthquake in the Sichuan province of China has left nearly 100 000 Chinese homeless, and may have dealt severe damage to insured industrial facilities in the region, according to Eqecat.
Critical infrastructure vulnerable to hacking
Infrastructure systems are increasingly susceptible to wireless hacking attacks according to security consultancy Digital Assurance.
Towergate hit with Moody's downgrade
Moody's has cited "significant" levels of debt and limited earnings as the reasons behind its downgrade of Towergate, following publication of the consolidator's results.
Sichuan quake leaves 100 000 homeless
A 6.6 Mw earthquake in the Sichuan province of China has left nearly 100 000 Chinese homeless, and may have dealt severe damaged insured industrial facilities in the region, according to Eqecat.
Management consultant in Singapore hires three insurance veterans
Solutions Providers, a management consultant for financial services, has appointed three senior insurance professionals to its management team.
QBE's credit rating downgraded
Ratings agency Moody's has downgraded QBE's credit rating from a A3 to Baa1 with a "negative" outlook.
2013 general insurance premiums to grow strongly in Malaysia
The General Insurance Association of Malaysia expects general insurance gross written premiums to rise between 6% and 9% in 2013.
70% of drivers think speed cameras are money-making machines
More than 19m UK drivers (70%) think speed cameras exist to make money rather than prevent accidents, according to a study by Go Compare.
NFU Mutual appoints ex-Axa boss as sales and agency director
Rural insurer NFU Mutual has named Nick Turner as the successor to the sales and agency director role vacated by Ian Leech.
Insurers not spared Cyprus haircut
Cypriot insurance companies will be affected by a bail-in on deposits, contrary to previous reports.
German watchdog makes light of Solvency II delays
The postponement of Solvency II is not a major problem, according to Felix Hufeld, the head of German regulator BaFin’s Insurance Supervision Directorate.
Beazley bolsters marine liability and cargo operation with double hire
Beazley has to strengthen its marine liability and cargo capabilities with two new hires.
Europe View from the Top: Frederik Wulff
The protective nature of the German insurance market has historically meant that local property and casualty insurers have been willing to provide generalised cover across a range of industries, ensuring profitability when claims increase, or demand…
Aquiline completes Equity acquisition
New York-based private equity firm Aquiline has completed its deal to purchase Equity Insurance Group.
Hodges upbeat about network future
Towergate chief executive Mark Hodges said he is confident that the firm’s network division can create an “incredible service offering for brokers” despite a 24% drop in its operating earnings in 2012 to £10m (2011: £13.1m).
UK is 'Europe's whiplash capital' states ABI select committee submission
The Association of British Insurers has published its submission to the Transport Select Committee’s recently closed whiplash inquiry, in which the association labelled the UK as “the whiplash capital of Europe”.
Clear Insurance acquires Steveni Kessler
Clear has acquired the noth-London based commercial specialist general insurance business Stevni Kessler.