News
Exclusive IP and catastrophe articles now live
Insurance Insight’s weekly update is live with articles on intellectual property and natural catastrophes.
Aon reports 3% organic growth in American and international broking arms
Aon today announced its revenue increased 48% to $2.8bn for the second quarter of 2011 compared to the prior year quarter, due to a 42% increase in commissions and fees resulting from acquisitions, primarily that of Hewitt.
MCE Enterprise names MD
Nick Elliman has been appointed as managing director of personal lines network MCE Enterprise.
Lloyd's Names group sets up investigation taskforce for syndicate losses
A Names group has set up an “investigation” taskforce to uncover the reason behind the huge losses of Lloyd's Equity syndicate 218 and KGM 260 in the 2008 account.
Munich Re transfers European windstorm risks to capital markets
Munich Re has acquired coverage for European windstorm risks with volume of $150m from Queen Street III Capital, which in turn has placed a catastrophe bond for this amount on the capital markets.
Soil deficit figures support predicted upturn in subsidence claims
Unless there is significant rainfall over the UK in the next six weeks, the industry should brace itself for a rise in subsidence claims later this year.
Lloyd’s receives reduced collateral approval in NY
Lloyd’s has received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts.
Solvency II delay poll results
Find out what the market voted on for the Solvency II delay.
DAS appoints senior risk and compliance officer
DAS Group has appointed Deborah Douglas as the new senior risk and compliance officer.
MGAA to launch in September
The Managing General Agents’ Association has confirmed that it is to officially launch on 1 September.
Prominent insurance leaders to join IIS board of directors
Eight insurance leaders will join the board of directors at the International Insurance Society, effective 1 August.
Danish government asks TRIA broker to review local terrorism capacity
US RE, the international reinsurance broker, has been selected by Finanstilsynet, the Danish Insurance Supervisory Authority, to conduct a study of terrorism risk reinsurance capacity in the Danish market.
JLT transformation programme exceeds expectations as profits and revenues rise
JLT has recorded a 9% leap in total revenue for the first six months of 2011 to 411.3 (H1 2010: £377.8m) and 8% rise in underlying trading profit for the same period at £76.1m (H1 2010 £70.7m).
A-Plan founders reveal £4.2m THB stake
Former A Plan directors Tom Duggan and David Saville, alongside Ian Donald, have declared their 15.1% ownership in THB, according to a stock exchange announcement.
Validus spurned in bid for Transatlantic shareholding
Transatlantic Holdings today announced that its board of directors has unanimously determined to recommend that stockholders reject Validus' offer to acquire all the outstanding common shares in the business.
European Parliament confirms Solvency II 2014 delay
The European Parliament has agreed that Solvency II should be delayed until 2014.
Solvency II 2014 delay confirmed
The European Parliament has agreed that Solvency II should be delayed until 2014.
Markel launches Dutch operation
Markel International is preparing to open a branch office in Rotterdam this September.
Julian James elected new CII president
At the Chartered Insurance Institute’s annual general meeting held in London on 22 July 2011 Julian James was elected 115th president of the CII.
Consumers feel little love for insurance brands
Churchill has topped a list of insurance and pension brands according to the quality of relationship they have with their customers, but overall insurance and pension brands fared worst in the survey of financial services.
Scor boss heralds "capital shield" after H1 nat cat losses
Scor has recorded gross written premiums of €3400m (£2900m) in the first half of 2011, up 4.4% compared to the first half 2010 (+6.7% at constant exchange rates).
Insurers uncovered 9% more fraud in 2010, according to the ABI
Insurers uncovered 133 000 fraudulent insurance claims in 2010 - 2500 every week - up 9% on 2009.
Jersey avoids Solvency II
Jersey’s insurance sector has welcomed the announcement from the island’s financial services regulator, the Jersey Financial Services Commission, that it has no plans to implement Solvency II measures in Jersey.
Western European deal-making "fragile" in July
Western European deal-making in July has been described as “fragile” by Zephyr researchers who recorded 1150 M&A deals worth a combined €39 091m in the past month – the weakest monthly result since August 2010.