News
Latest AIG share sale to net US Treasury $750m
The US government expects to receive $750m (£481m) from the latest sale of stock held in American International Group.
CILA adds voice to calls for Riot Act reform
The Chartered Institute of Loss Adjusters has thrown its support behind calls by the government and the Association of British Insurers to reform the 1886 Riot Damages Act by pledging on-going technical assistance to its members.
Temp Cover eyes £24m turnover target
Short-term insurance broker Temp Cover has hired three associate directors who will play a key role in helping the business double its £12m income in the next three years.
Groupama UK chief exec full of praise for Lark's new owners
Groupama UK chief executive François-Xavier Boisseau has praised the Lark management team behind the acquisition of his firm's majority shareholding, describing the now-independent broker as a "very consistent performer".
Lark completes MBO from Groupama
Lark is once again an independent broker after its management successfully completed the acquisition of Groupama's majority shareholding in the business for an undisclosed sum today.
Ex-E&Y boss appointed LV audit committee chairman
Former Ernst & Young senior partner James Dean, pictured, has replaced Ian Reynolds as LV audit committee chairman.
Industry veteran Driver handed Congregational chairmanship
Congregational and General Insurance has appointed Harry Driver as chairman following David Collett's retirement.
Co-op and Hastings sign up to telematics aggregator Compare The Box
Co-operative Insurance, Hastings Direct and Swinton are set to go live with telematics offerings on Go Compare and Wunelli's joint aggregator offering, Compare the Box.
Ex-Heath director joins HCB
Risk management specialist Health Claims Bureau is expanding its corporate risk solutions team with the appointment of Karen Gamble as head of client relations.
Ace looks to strengthen travel business with internal promotions
Ace Group has made three changes to the travel team serving EMEA as the firm continues to build business across the region.
Investors more cautious of insurers owing to European concerns
Investors continued to have a more negative view of the global insurance sector relative to ratings in the second quarter of 2012, according to Moody's.
Catlin sees 35% increase in European GWP in H1
Catlin reported a 23% increase in gross written premiums from its international business in the first six months of 2012, rising to €577m from €471m in the first half of 2011.
Ace hopes to bolster EMEA travel team with triple appointment
Ace has made a trio of international appointments in its Europe, Middle East and Africa travel team in a bid to strengthen its travel business across the region.
EA reduces flood alerts despite weekend of heavy rain
The Environment Agency has halved the number of UK flood alerts this morning after a weekend of heavy rain led to flooding and disruption in parts of south-west England and the Scottish borders.
Paul Summers appointed global CEO of Aon Benfield Fac
Paul Summers is to become global chief executive of Aon Benfield Fac with immediate effect.
Allianz suffers £23m weather claims loss but retail and commercial GWP grow
Allianz UK has posted bad weather claims costs of £23m for the first six months of 2012.
Indian insurers stop competing for group health business
Indian state-owned non-life insurance companies have stopped competing with each other in group health insurance policies in line with a directive issued by the ministry of finance in May.
Ageas posts 86% rise in non-life profit after strong Q2
Belgian insurer Ageas improved across all segments to post net insurance profit of €303m in the first six months of 2012, up from €111m in the first half of 2011.
Catlin registers H1 boom in net underwriting contribution
The Catlin Group has chalked up a record $443m (£284m) in net underwriting contribution for the first half of the year, with results also showing the Bermuda-based firm maintaining a combined ratio of 86%.
Lloyd's launches underwriting review
The Lloyd's Market Association is reviewing the way contingent business interruption cover is written in the Lloyd's market following a string of major catastrophes last year.
D&O may fall short of covering directors for cyber risks
The expanding online universe has introduced new financial risks that may not be covered under general and professional liability insurance, including standard directors' and officers' policies, Willis Group Holdings has warned.
German Mutual Insurance downgraded after wind strom hits results
German Mutual Insurance Company has had its financial strength rating downgraded to B+ (Good) from B++ (Good) and issuer credit rating to 'bbb-' from 'bbb'. The outlook for both ratings is negative.
Cyber crime risks on the rise
Willis has warned that "ignorance is no defence" when it comes to ensuring that companies are protected against data breaches as the risk of cyber incidents increases.
APC launches professional indemnity offering
Commercial insurance underwriting agency APC has moved into the professional indemnity market, launching its first product to protect mortgage and finance intermediaries.