News
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.
PPOs present threat to motor insurers
The increase in Periodical Payment Orders will be credit negative for companies with significant personal injury claim exposures, most notably motor insurers and their reinsurers, Moody's Investors Service has warned.
Moody's: general insurance outlook stable
Rating agency Moody's has said the outlook for UK general insurance remains stable, driven primarily by adequate risk-adjusted pricing and Moody's expectation of modest rate increases in most lines of business.
Vietnam ministry to pay 20% of export credit premiums
Vietnam's Finance Ministry has offered to pay 20% of insurance premiums for export credit orders if enterprises buy export credit insurance.
Willis Re names Beedle as Asia chief
Willis Re has promoted James Beedle, pictured, to be chief executive of its Asian operations.
Lonmar sells Medicare to France's April
Lonmar Global Risks has agreed terms for the sale of its managing general agent, MediCare International, to French broker April.
Hastings hits back at Which? report
Hastings Direct is the latest insurer to accuse Which? of using "inaccurate data" in its report on insurer charges.