News
Financial market volatility hits Swiss Re’s core combined ratio
Swiss Re saw the combined ratio for its property and casualty segment increase to 80.8% for the third quarter of 2011 due largely to financial market volatility.
CNA Europe forms new pan-European Underwriting Committee
CNA Europe has appointed Rhonda Buege to the newly-created role of underwriting officer for HealthPro, its specialist offering to the healthcare industry.
JLT aims to be top Italian broker with Marine & Aviation acquisition
Jardine Lloyd Thompson Group has signed heads of agreement to combine its existing Italian broking business Jardine Lloyd Thompson SpA. with the business of Marine & Aviation SpA.
US expected to achieve Solvency II equivalence
The US solvency regime for insurers is expected to achieve equivalence with the European Union's Solvency II requirements according to Fitch Ratings.
Markel recruits from Willis to strengthen Italian PI and D&O book
Markel has appointed Davide Balocco as senior underwriter in professional liability division to focus on its Italian book.
Mondial Assistance shuffles top roles
Mondial Assistance’s UK CEO Mike Webb is to relinquish the role and become non-executive chairman, with UK Managing director Serge Corel, taking the CEO role.
Alterra reports earnings down for Q3 2011
Alterra Capital Holdings has reported net income of $48.4m, or $0.46 per diluted share, for the third quarter of 2011, compared to net income of $82.8m for the same quarter of 2010.
Ireland 123 aquisition drives RSA's profits up for Q3
The acquisition of 123 in Ireland last year and growth across central and emerging Europe has helped RSA to report further growth in quarter three of 2011.
Snowball speaks out on challenging global insurance market
Suncorp CEO Patrick Snowball recently outlined his thoughts on the challenging global insurance market at the British Insurance Summit.
Thai floods: Insured losses creep up
Global reinsurance broker Aon Benfield has estimated the insured losses from the floods in Thailand could be at least US$4.6bn.
Markel appoints Balocco to professional liability team
Specialist insurer Markel has named Davide Balocco as a senior underwriter in its in its professional liability division.
Swiss Re reports 118% net income rise
Swiss Re reported a 118% increase in net income in its third quarter to $1.3bn (2010 $0.6bn).
McGovern named on US Treasury insurance committee
Lloyd’s North America director and general counsel Sean McGovern has been appointed to the US Treasury’s committee on insurance.
RSA’s pet and household replace motor
RSA has reported UK personal lines Q3 net written premiums were up 13% to £1 036m, with commercial lines up just 2% to £1 282m. Overall the UK was up 7% to £2 318m.
Post Blog: Between a Rok and a hard place
What happens when a building repair and maintenance partner, crucial to policyholders, goes out of business? Sharon Scully, general manager, property and legal at Axa Assistance, explains.
Aviva claims UK rise makes it market leader
Aviva claimed UK general insurance sales increased 12% over the first nine months of the year making it “the general insurance market leader in the UK”.
Future technology competition
Many accuse the insurance industry of being less than innovative and behind the curve with the application of technological advances, this is you chance to prove them wrong.
Law report: Dispute number challenge fails
This law report has been contributed by national law firm Berrymans Lace Mawer.
XL scoops bulk of solicitors’ PI market as fewer join assigned risk pool
As capacity in solicitors’ professional indemnity increases, brokers predict XL will be the biggest player in the market, replacing 2010’s top underwriter Chartis.
Esure broking boss vows to prioritise fraud
The managing director overseeing the launch of Esure’s two new broking brands has vowed to make clamping down on fraud a priority issue, after outlining a list of crime-cutting measures.
Firms warned of hardline FSA approach
A UK insurance boss has welcomed the Financial Services Authority proposals to properly inform customers about packaged bank accounts.
Building referral fee costs hitting industry for 'tens of millions of pounds'
Building referral fee costs, which have escalated over the past two years, are “like a cancer” costing the industry “tens of millions of pounds” a year, it has been claimed.
Homeserve shares crash after sales suspension
Homeserve joined the mis-selling scandal this week when it suspended telephone sales of its home emergency policies, after an internal review by Deloitte found its processes fell “below the standard it had set itself”.
Groupama CEO Azéma sacked after Fitch and S&P action
A senior rating analyst has played down fears a raft of major European insurers could be on the end of downgrades in the wake of the European Union debt crisis.