News
Portuguese Tranquilidade's maintains 'BBB-' rating
Portuguese insurer, Companhia de Seguros Tranquilidade SA's maintains 'BBB-' insurer financial strength rating on rating watch negative.
Climate Wise chairman named
John Coomber, member of the board of directors of global reinsurer Swiss Re, will become the new chairman of Climate on 1 October.
BIS 2011: Insurers challenged to improve e-commerce
The starting point of a good website is no longer enough, insurers have been warned.
Bupa lands UK Sport deal
Bupa has been named as the official health insurance partner of UK sport.
Insolvencies drop among big firms
Credit data provider Experian says the rate of insolvencies dropped to 0.08% in August, its lowest point since February, but up on last August’s 0.07%.
European Council adopts road safety directive
The European Council has adopted a directive on cross-border exchange of information on road traffic offences, on the basis of a text agreed with the European Parliament.
Irish regulator banned Quinn family
Irish MP Caoimhghín Ó Caoláin has alleged that Financial Regulator Matthew Englefield tied the hands of the Quinn Insurance administrators by banning any bids from the Quinn family.
Keoghs and ABI target Lib Dem conference for claims culture talk
Law firm Keoghs and the Association of British Insurers have held an event about the UK’s compensation culture at the Liberal Democrat conference.
Irish regulator banned Quinn family
Irish MP Caoimhghín Ó Caoláin has alleged that Financial Regulator Matthew Englefield tied the hands of the Quinn Insurance administrators by banning any bids from the Quinn family.
BIS 2011: Technology to ‘rejuvenate’ insurance
Delegates at the British Insurance Summit were told in no uncertain terms that technology and social media are here to stay and urged to be a part of it.
XL Insurance strengthens international property lines
XL Insurance has appointed Philip Sexton International P&C onshore energy and general property manager for the UK, Ireland and Nordic regions, in a bid to strengthen its international property lines.
BIS 2011: Numerate grads the future of underwriting
The future of underwriting rests in the hands of graduates with strong numeracy skills and business understanding who are willing to embrace specialist areas of the industry.
HSBC bidders line up not to comment
QBE, Zurich and Allianz have refused to comment on speculation in a Reuters report that they are among bidders for HSBC’s insurance business.
AM Best withdraws ratings of Connaught
AM Best Europe has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-” of Connaught Insurance Company Limited (Connaught) (Guernsey), the captive insurance company of Thomas Greg & Sons Limited, a security printing…
BIS 2011: Regulation and balance sheet concerns blamed for below book trading
A combination of balance sheet concerns and the impact of Solvency II was identified as the main reason why insurers are trading below the book by delegates at the British Insurance Summit yesterday.
Amlin brings ambassador on board
Amlin has appointed former diplomat Sir Alan Collins, as an independent non-executive director, to take effect on 14 November 2011.
Aon names first ever European power chief
Aon Risk Solutions has appointed Denis Waerseggers to the newly created position of European power leader.
Ecclesiastical stops NZ quake cover
Ecclesiastical is to cease writing earthquake cover in New Zealand following the devastating series of earthquakes in Christchurch which contributed to the insurer’s biggest ever losses.
Sagicor quits casualty treaty reinsurance
Sagicor at Lloyd’s has pulled out of providing casualty treaty reinsurance following its earlier withdrawal from property treaty reinsurance in April 2011.
APC revamps property owners’ cover
Commercial insurance underwriting agency, APC in replacing its property owners products with new residential and commercial landlords products.
Homeserve expects 3% customer rise
Homeserve said it expected half year profits to be better than last year, and in line with expectations, claiming it had more than five million customers and 11.7 million policies.
Helphire board change over £29m error
Helphire board bosses have quit after shocking results saw pre-tax losses more than double to £34.1m.
Neave rebuts IFB ‘revolving door’ claims
Insurance Fraud Bureau chairman David Neave insists there is no “revolving door” problem at the industry anti-fraud co-ordinator, after Glen Marr announced he was stepping down from the director role after just over a year.
Rehabilitation First Awards 2011: Rehabilitation Initiative of the Year — Insurer
Judges applauded QBE’s initiative as “behaviour-changing stuff that makes a detailed case for rehabilitation at all levels”.