News
Direct Line in Germany implements new business continuity infrastructure
German insurer, Direct Line Versicherung AG, has implemented Datacore's business continuity and disaster recovery architecture.
Groupama hit with S&P downgrade to BBB-
Groupama has suffered a ratings downgrade at the hands of Standard & Poor's despite the France-based insurer announcing a range of key strategic actions designed to halt the recent slide.
ABI calls for “focused approach” to publishing ombudsman decisions
The Association of British Insurers has questioned the Financial Ombudsman’s Service policy of publishing all its decisions.
IUA publishes new London Market TOBA
The International Underwriting Association for insurers and brokers has published a new Terms of Business Agreement (TOBA) for use in the London Market.
Seymour-Jackson quits RAC MD role
Ex-Aviva director Angela Seymour-Jackson has left her role as managing director of RAC to “pursue other interests”.
Generali's German subsidiaries downgraded
Generali Group's three German non-core subsidiaries have been downgraded by Fitch, following the downgrade of their parent company.
Canopius names Group CEO
Canopius has appointed Inga Beale as group chief executive officer with effect from 3 January 2012.
RSA appoints new UK head of litigation
Will Bloomer has been appointed as UK Head of Litigation at RSA.
Exposure to eurozone economies impacts Aviva credit rating
AM Best has responded to ongoing negative developments arising from the eurozone sovereign debt crisis by taking rating actions against Aviva and a number of other European insurers.
16 December: “Woofing” it down
Unable to wait patiently in the kitchen for his owner to finish baking his favourite sweet treats, a greedy chocolate Labrador decided to lick the bowl.
Insurance certificates removed from road tax application process
Motorists will no longer be obligated to produce a certificate of insurance in order to purchase road tax amid new government plans geared towards clamping down on forged documents.
Lloyd’s publishes revised three year plan
Lloyd’s has outlined its strategic priorities for 2012-2014.
AM Best downgrades Generali ratings
AM Best is taking rating actions on a number of European reinsurers following the continued negative developments regarding the eurozone sovereign debt crisis.
Perils updates windstorm exposure data for 11 European countries
Perils, the independent organisation that provide industry-wide catastrophe insurance data, has updated the windstorm exposure data for 11 European countries.
2011 nat-cat insured losses reach $108bn
Total insured losses for the global insurance industry from natural catastrophes and man-made disasters reached $108bn (€83bn)in 2011 according to Swiss Re.
Haverford makes new bid for Omega
Haverford informed the London Stock Exchange this morning that it had submitted a fresh bid for the Lloyd’s insurer.
Power Place director departs
Power Place’s sales and marketing director Darren Rowe has been put on gardening leave.
MGAA appoints three directors
The Managing General Agents Association has co-opted three new directors onto its board in preparation for an increase in lobbying and member activities during 2012.
Willis Re comments on cat modelling guide
Willis Re has commented on the Association of British Insurers guidelines published last week around industry good practice for catastrophe modelling under Solvency II.
2011: highest cat related economic losses in history
2011 will be the year with the highest catastrophe related economic losses in history at $350bn according to preliminary estimates from Swiss Re’s Sigma team.
Insurers to continue payouts for pleural plaques
Insurers remain committed to paying out on pleural plaques cases in Scotland and Northern Ireland, despite claims that the Damages Acts in both countries are “fundamentally flawed”.
UK insurers wait on developments following PM Cameron EU Treaty veto
Standard and Poor’s downgrade warning on 15 insurers should have been “no surprise” but the market is still in the same position it was a week ago given the lack of “concrete activity” at the weekend, according to an industry analyst.
Swinton contacts FSA after sacking executive board
An internal document circulated among Swinton employees has stated that the broker needs “to establish the true level of profits” at the firm in the aftermath of the sacking of its executive board.
New Giles CEO McManus vows to improve operational focus and retention
Incoming Giles chief executive Brendan McManus has vowed to use his experience of running an underwriting operation alongside a broker business to maximise distribution at his new firm.