News
Gothaer's IFS affirmed at 'A'
Gothaer Allgemeine Versicherung AG's and Gothaer Lebensversicherung AG's have had theit insurer financial strength ratings affirmed at 'A' and long-term issuer default ratings at 'A-'.
ANIA: tax burden hinders competitiveness in Italy
The Italian National association of insurance companies' managing director Paolo Garonna has lamented during a parliamentary audition that Italy's tax burden is significantly hindering companies' market competitiveness.
Ace launches multi-national practice in Continental Europe
Ace has created a new practice designed to meet the needs of multinational companies that are based or operating in Continental European countries.
Bearing Point launches Solvency II reporting tool
Management and technology consultancy Bearing Point has launched Abacus – a pan-European reporting solution for Solvency II which they claim will resolve the reporting challenges facing insurers in the UK and Ireland.
Higos grows further with RM Gillingham
Higos Insurance Services has bought Bridport high street firm RM Gillingham & Son as part of it south-western region expansion with its third acquisition this year.
XL replaces Chartis in solicitors' PI top spot
The Solicitors Regulation Authority has revealed XL Insurance has the largest estimated premium at 18%, according to Professional Indemnity Insurance (PII) arrangements of firms in England & Wales for 2011/12.
Zurich announces Q3 net income increase
Zurich Financial Services today reported an increase in net income in the third quarter, but saw a decline in business operating profits.
Aviation loss levels hit six-year low
The aerospace division of Willis Group Holdings has reported loss levels in the aviation sector are at a six-year low, and insurance premiums are trending on a downward slope.
House rebuilding costs level out
The UK's index of house rebuilding costs produced by the Building Cost Information Service of the Royal Institution of Chartered Surveyors has started to level out.
Aviva and L&G extend Barclays ties
Aviva has extended its product range offered through Barclays to include personal accident cover. Legal & General will provide critical illness insurance.
Italian insurers liable for losses if sovereign defaults
Italian insurers’ may be prevented from passing losses incurred in a sovereign default onto policyholders, if the return on customer portfolios is below the minimum guaranteed, according to Fitch.
Vienna Insurance appoints new head of investor relations
Vienna Insurance Group has appointed Nina Higatzberger as head of investor relations.
More Than insureds track claims online
More Than has launched an eClaims service that enables motor insurance customers to track their claim from registration to completion online.
GAB Robins raids Buckley Scott
Loss adjuster GAB Robins has expanded its construction and engineering claims by appointing Simon Donnelley from Buckley Scott.
Homeserve expands mis-selling review
Homeserve is to revise its direct marketing materials as part of its mis-selling review. The materials are due to be sent out in the New Year.
Novae reiterates 60% loss ratio target
Novae has reported its gross written premium for the first nine months of 2011 was up 9% to £516.4m, up 9% (2010: £473.3m).
Zurich reports 'worst year since Katrina'
Zurich branded 2011 ‘the worst year since Hurricane Katrina’ as it reported a 12% slump in general insurance operating profit for the nine months so far, which was down to $1.73bn from $1.97bn last year.
Law report: Costs ruling brings necessary clarity
This law report has been contributed by national law firm Berryman’s Lace Mawer
Gallagher Heath plays down redundancy fears
Industry rumours of widescale redundancies at Gallagher Heath have been played down by the firm, amid suggestions group CEO David Ross has also “cancelled Christmas”.
Customers revolt over hefty fines as eCar takes zero tolerance approach
Brightside has rebutted policyholder complaints about the practices of its online broker eCar. It follows claims by customers that they have reported the broker to the Financial Services Authority and the Financial Ombudsman Service.
Rugby club insurer RSA working on M5 crash
Bosses at RSA — the insurer responsible for covering Taunton Rugby Club — have said it is too early to comment on a police investigation into claims that smoke from a club firework display may have caused the M5 crash.
Crash-for-cash in commercial motor a 'massive blind spot' for industry
The Insurance Fraud Bureau needs to take the issue of crash-for-cash involving commercial vehicles off the “back burner”, commercial motor insurers have warned.
Oxygen to sell off remaining assets
Market commentators believe large employee expenses and lack of profits are behind the demise of seven-year old Oxygen Holdings.
Groupama to expand share of non-standard motor
Groupama is expanding its book of business in non-standard personal lines motor after admitting competition in the “Mondeo man” market was stiff.