News
Home & Legacy reports 11% revenue growth
High net worth underwriting agency Home & Legacy has told Post that despite the current economic climate it saw sales increase by 13% in 2011.
Thomas Carroll recruits 11, targets 30 more
Welsh broker Thomas Carroll Group has revealed the details of an expansion programme which involves the recruitment of 11 new staff and the development of the firm’s headquarters near Caerphilly Castle.
Brit reinsurance boss Turner quits as insurer merges divisions
Brit reinsurance boss Jonathan Turner has left the firm as the business merges its reinsurance and global markets strategic business units.
XL expands global political risk and trade credit team
XL has added four to its global political risk and trade credit team.
Thai insurance giant seeks 20% growth in 2012
Muang Thai Life Assurance is seeking to expand its business by more than 20% to 40bn baht (£800m) this year, according to reports.
Insurer most trusted financial services brand in India according to report
The Life Insurance Corporation of India has come out top in a poll to find the country's most trusted brand in the banking and financial institution space, for the second consecutive time.
Indian Government launches new insurance scheme for overseas workers
The Indian government has unveiled a new pension and life insurance scheme that would benefit over 5 million of the country’s unskilled and semi-skilled workers employed overseas.
Tougher EMEA commercial insurance market conditions expected in 2012
Insurance rates for businesses with exposure to natural catastrophe risks and supply chain perils are expected to continue increasing in 2012 across Europe, the Middle East and Africa, according to a Marsh report.
Towergate secures five-year Allianz deal
Allianz will continue to lead Towergate commercial underwriting’s insurer consortium for the next five years, increasing their share from 40% to 70%.
Guernsey leads non-UK entities listed on LSE
Guernsey is home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally, according to figures from the market authority.
Reinsurance rates in Spain fell at January renewal
Reinsurance rates in Spain fell at the January 1, 2012, renewal, despite the effects of the European financial situation on the primary market.
Tough conditions for EMEA commercial markets, Marsh warns
Insurance rates for businesses with exposure to natural catastrophe and supply chain risks are expected to keep increasing in 2012 across Europe, the Middle East and Africa, according to a report published today by Marsh.
NIG brings risk management in-house
Commercial insurer NIG has brought the remaining part of its risk management process from small businesses in-house.
HCC: Thai flooding cost $10m in Q4
HCC Insurance Holdings has revealed fourth quarter Thailand flooding catastrophe loss estimates of $10m (£6.4m), taking the year’s losses to $117m.
QBE ratings unchanged despite cat losses
AM Best has left the ratings of QBE unchanged despite the company almost halving its forecast profit after tax because of catastrophe losses.
Quindell takes 30% stake in Ai Claims
Quindell Portfolio has added to yesterday’s purchase of law firm Silverbeck Rymer by taking a 29.9% in Ai Claims Solutions.
Mercer to become sole shareholder of French broker
March and McLennan subsidiary, Mercer, is to become sole shareholder of French health and benefits broker, Repca, in order to strengthen its position in the French market place.
Gallagher Heath agrees five year trade union deal with UIA
Gallagher Heath Insurance Services will provide motor and travel insurance to members of UK trade unions after signing a five year partnership deal with UIA.
IFB appoints Bird as full-time director
The Insurance Fraud Bureau has this afternoon confirmed the appointment of Phil Bird to the role of director on a 6 month secondment.
Montpelier Re and Mitsui stay quiet on Hardy bids
Bermudan-based reinsurer Montpelier Re and Lloyd’s insurer Mitsui Sumitomo have refused to comment on rumours that they will bid on troubled Lloyd’s insurer Hardy.
Quindell to add to Silverbeck ABS deal
Quindell is set to announce purchases and partnering arrangements to add to its alternative business structure deal with law firm Silverbeck Rymer.
Reinsurers reluctant to cover Thai cat fund
Global reinsurers may be reluctant to cover the recently announced Thai catastrophe fund if asked to by the nation’s government, according to market analysts.
Hiscox UK secures Corporate Chartered Insurer status
Specialist insurer Hiscox UK has been awarded Corporate Chartered Insurer status.
Insurance head Chris Collins passes away
Retired Gibraltar Financial Services Commission boss Chris Collins has passed away after a short illness.