News
Am Wins and New Mountain Capital complete $1.3bn partnership deal
Am Wins has today revealed a growth-oriented recapitalisation partnership with New Mountain Capital in a deal worth approximately $1.3bn (£820m).
AIR targets supply chain risk
AIR Worldwide has expanded its suite of catastrophe risk engineering solutions to quantify and mitigate the risk associated with the impact of catastrophes on supply chain networks.
Zurich relocates Dubai office
Zurich Insurance Group has relocated its Dubai General Insurance offices to accommodate growing operations in the United Arab Emirates and increase convenience for customers and partners.
Mitsui posts £12m profit
Mitsui Sumitomo holding company MSI Corporate Capital has reported a pre-tax profit of £11.99m, up from a £17.77m loss restated.
Ferma launches 2012 benchmarking survey
The Federation of European Risk Management Associations launches the 2012 Ferma Benchmarking Survey today.
Canopius adds Golfplan to broker K Drewe
Canopius has bought the business and client portfolio of Golfplan International Insurance, a provider of specialist golf insurance and an official supplier to the Professional Golfers' Association.
Onshore captives on the rise, says Marsh
Organisations are increasingly forming captives onshore in the European Union or United States, while the use of alternative captive structures is growing, especially among smaller organisations, according to Marsh.
David Hare to be actuaries' president-elect
The Council of the Institute and Faculty of Actuaries has elected Dr David Hare as president-elect.
XL aims for 'nimble' business with restructure of International casualty unit
XL Group has restructured its International Primary Casualty business into four teams to be more nimble.
India's domestic market faced restrictions at renewals
Despite positive results in the Indian domestic market, insurers faced problems similar to their Asian counterparts at the April 1 renewals, according to Guy Carpenter.
Energy insurers discriminating in favour of differentiated risks
The energy market recorded its worst ever year for non-windstorm losses in 2011 with close to $9bn in combined insured and uninsured total losses, according to Willis' Energy Market Review.
Tonks calls on government for a fair deal for injured people
The Association of Personal Injury Lawyers said insurers and the government will be challenged to face up to their responsibilities for injured people at its annual conference this week.
IAG continues Asian expansion with Vietnam acquistion
Insurance Australia Group has entered into a conditional agreement to acquire 30% of Vietnam-based AAA Assurance Corporation.
XL restructures international primary casualty business into four groups
The insurance segment of XL Group has reorganised its international primary casualty business, creating four teams built around underwriting tasks and account type.
QSTP signs deal with Italian FASI for preventative healthcare
Qatar Science and Technology Park has signed a memorandum of understanding with Italian insurer Fondo di Assistenza Sanitaria Integrativa.
Confused creates home cover Facebook app
Confused has launched a Facebook video app called House of Horrors to raise awareness of the importance of home insurance, coinciding with the launch of the aggregator's Nectar campaign.
GWP of global non-life insurance to reach $2,500bn by 2017
The global non-life insurance industry saw moderate growth during 2006-2011 and the growth momentum is expected to continue, reaching an estimated $2,500bn in 2017 with a CAGR of 4.2% over the next five years, according to Lucintel.
Lloyd's Lonmar sells MediCare to April
Lloyd's broker Lonmar Global Risk has agreed terms for the sale of its MediCare International subsidiary to French firm April.
MoJ had 9750 complaints in 2011 and shut 734 claims management companies
The Ministry of Justice has closed down 734 ambulance-chasing claims management companies, leaving 3018 authorised at the end of March, after receiving 9570 complaints in the past year.
IFIC Forensics lands Clyde FC sponsorship deal
International Fire Investigators and Consultants has agreed a deal to sponsor Scottish football club Clyde FC.
Willis Re appoints Beedle CEO for Asia
Willis Re has appointed James Beedle as chief executive of its Asian operations.
Insurers secure Edinburgh subsidence liability from Coal Authority
The Lands Tribunal in Edinburgh has found in favour of a consortium of insurers in a long running case against the Coal Authority relating to 24 subsidence-affected residential properties in Rosewell, near Edinburgh.
Swiss Re claims it will outperform
Swiss Re has told investors it expects to outperform this year through a mix of unique business opportunities, capital strength and three new business units.
Resources in Insurance Group to expand
Claims management firm Resources in Insurance Group is to set up a new division for mentoring and placement services and develop an apprenticeship scheme.