News
Guy Carpenter takes on two GC Securities MDs from Aon Benfield
Guy Carpenter & Company has made a double recruitment swoop on Aon Benfield with the appointment of Andrew Beecroft and Paul Rayner as managing directors of GC Securities.
Direct Line launches multi-product discount
Direct Line has launched Together, a multi-product discount designed to reward customer loyalty and attract new policyholders.
Amlin Corporate reborn as Amlin Europe
Amlin Corporate Insurance is now operating under the name Amlin Europe, according to a statement on the company's website.
Punjab National Bank gets go-ahead for Metlife acquisition
Punjab National Bank has received approval to acquire a 30% stake in insurer Metlife India Insurance.
Achmea completes OVO acquisition
Dutch insurer Achmea has completed the acquisition of mutual government insurer Onderlinge Verzekeringen Overheid.
Ergo launches modular home contents policy
Munich-Re owned Ergo Insurance has launched a new home contents policy for the German market.
Giles broker of choice for roofing confederation
Giles Insurance Brokers has been appointed as the exclusive broker of choice for the Confederation of Roofing Contractors.
Perils puts windstorm Andrea loss at €336m
Independent Zurich-based organisation Perils today disclosed its final loss estimate from Windstorm Andrea as €336m.
Lloyd's syndicate launches indie film cover
Syndicate ProSight 1110 is to offer insurance to independent film makers covering filming mishaps and failure to complete a film on time and on budget.
BMS takes Asia Pacific plunge with launch of Sydney office
Independent global broker BMS Group is celebrating a "significant strategic goal" after opening an office in Sydney, its first in the Asia Pacific region.
IRDA relaxes residence requirements for micro-insurance buyers
India's Insurance Regulatory and Development Authority has relaxed a rule requiring micro-insurance applicants to provide a confirmation letter from their bank, describing it as a barrier to financial inclusion.
Co-operative Bank fined over PPI claims handling
The Financial Services Authority has fined The Co-Operative Bank £113 300 for failing to handle payment protection insurance claims fairly.
April Group to hire Orkney-based business consultant
The UK arm of France's April Group is looking to appoint a permanent business consultant in the Orkney Islands after growing demand for its medical and income protection policies.
Zelle Hofmann opens London office
Law firm Zelle Hofmann Voelbel & Mason is opening a London office in January to address the growing needs of clients in the London and European insurance markets.
Reinsurers back Zurich quake bond
Munich Re and Swiss Re have acted as joint lead structuring agents in a $270m (£166m) catastrophe bond transaction that transfers North American earthquake risk to the capital markets, on behalf of Zurich Insurance Group.
Zelle Hofmann launches London operations
US law firm Zelle Hofmann Voelbel & Mason has opened its first London office in a bid to target the London and European insurance markets.
Former Swiftcover exec Reames departs Axa
Robin Reames has become the latest Swiftcover founder to walk away from Axa, following the news that he will today leave the firm where he holds the position of personal lines chief claims officer.
Crawford & Co appoints US P&C chief executive
Crawford & Co has named former Cunningham Lindsey US president David Repinski as its new property and casualty CEO for operations in the US.
United India to boost salesforce
United India Insurance Company will recruit 7,000 agents in the next three months, the firm's managing director told local press.
Filipino insurers struggling with regulation and solvency requirements
Thirty-two insurers and mutual benefit associations in the Philippines are under various stages of conservatorship, receivership or liquidation, according to the country's Insurance Commission.
IAIS finalises policy for 'too big to fail' insurers
The International Association of Insurance Supervisors is finalising policy proposals for the risk management of globally systemically important insurers, or G-SIIs, commonly referred to as ‘too big to fail’.
At least 20% of cars in India thought to be uninsured
Almost a third of cars on Indian roads may not have mandatory third-party liability insurance, according to analysis by insurance companies.
US nat cats push global insured losses above 10-year average
Munich Re has called for greater loss prevention measures to be taken in the US, which saw 90% of worldwide insured losses in 2012.
Woodring to succeed Sorensen as IIS chairman
The International Insurance Society has appointed Greig Woodring, president and chief executive of Reinsurance Group of America, as chairman elect.