News
Amicus to close Colchester office in efficiencies push – Insurance News Now – 21 July 2011
Post news editor Mairi MacDonald outlines this week's major general insurance stories including DAS’ decision to close the Amicus Legal office in Colchester, a move which will cost 21 people their jobs.
NIG identifies target trades in push for contractor business
NIG bosses have earmarked a number of target trades they hope to attract by offering improved cover levels, dedicated broker microsites and a new brand identity.
Giles confirms £5m CBG offer
Giles Insurance Brokers has confirmed that discussions are underway with CBG concerning a possible offer at a price of 32p per share in cash for the entire issued and to be issued share capital of CBG.
Global Takaful contributions set to rise
Global Takaful contributions are expected to reach US$12bn by the end of the year, according to analysis by Ernst & Young.
Catastrophe rates on the rise as insurers look to recoup losses
Catastrophe rates are on the rise as insurers attempt to recoup heavy losses, however, non-catastrophe accounts with good loss experience remain highly sought after, according to a Marsh report published today.
Former Indy staff lose compensation after employment tribunal appeal
Hundreds of former Independent Insurance staff have lost the right to compensation after the liquidated company appealed an earlier ruling.
Marsh forms global claims practice
Marsh has formed a global claims practice to harness its claims experience around the world.
Willis Research Network launches Economic Capital Forum
Risk and actuarial research departments have come together under the Willis Research Network, the academic and analysis arm of Willis Group Holdings, to support the industry’s development and use of economic capital models required under Solvency II and…
Tokio Marine Europe files for Chapter 15 recognition in US
Tokio Marine Europe Insurance Ltd, a part of the Tokio Marine Group, has filed a petition for protection from creditors within its recently approved solvent scheme of arrangement under Chapter 15 in US bankruptcy court in Manhattan.
Giles approaches CBG over potential purchase
CBG has issued a statement confirming an approach from Giles Insurance Brokers.
Gibraltar GWP tops Lloyd's in motor insurance underwriting
Gibraltar is outperforming Lloyd’s of London in the motor insurance market, according to a report by Ernst & Young, and Admiral is leading the charge.
Coface downgrades Greece and Cyprus
Despite a slowdown compared with 2010, Coface is expecting the steady pace of growth of emerging countries to continue, forecasting their economies to grow at 5.7%, in 2011.
Fitch affirms German mutual Gothaer's 'A' rating
Fitch Ratings has affirmed Gothaer Allgemeine Versicherung AG's and Gothaer Lebensversicherung AG's insurer financial strength ratings at 'A' and long-term issuer default ratings at 'A-'.
Munich Re in solar energy deal in Spain and Italy
Munich Re and investment firm Kohlberg Kravis Roberts & Co have partnered to acquire a 49% equity stake in Grupo T-Solar, the largest European solar photovoltaic power generator.
Aspen Insurance to buy commercial insurance renewal rights from M4
Aspen Insurance’s regional platform Aspen Risk Management has agreed to purchase certain commercial insurance renewal rights and other related assets from M4 Underwriting.
Marsh forms new global claims practice
Companies that manage the claims process effectively are better able to protect their resources, secure their bottom lines, and maintain daily operations, according to Marsh.
Gibraltar GWP tops Lloyd's in motor insurance underwriting
Gibraltar is outperforming Lloyd’s of London in the motor insurance market, according to a report by Ernst & Young, and Admiral is leading the charge.
Coface downgrades Greece and Cyprus
Despite a slowdown compared with 2010, Coface is expecting the steady pace of growth of emerging countries to continue, forecasting their economies to grow at 5.7%, in 2011.
David Cobley named Simply Health’s underwriting director
Simply Health has named David Cobley as underwriting and pricing director. He is a qualified actuary and joins from the Lloyds Banking Group, where he was risk director for its international financial services division.
Solvency II: Defining a practical implementation strategy
If you missed the recent live webinar debating Solvency II and practical implementation strategies - it is now available for viewing on-demand.
MPs for Financial regulation scrutiny panel unveiled
Half of a 12 member committee charged with scrutinising the government’s draft Financial Services Bill have been identified by the House of Commons.
Broker Assistance signs AA Accident Management deal
Broker Assistance has signed an agreement with AA Accident Management to handle credit hire claims for the broking group’s commercial customers.
Law Society: Professional indemnity renewals are still a problem
Lawyers have found it harder to get professional indemnity insurance this year with roughly one in three firms having problems, up from one in five last year, according to the Law Society’s PII survey.
NIG appoints head of agricultural business
Commercial insurer NIG has appointed Andy Brock as its head of agricultural business.