News
China regulator sets caps on insurance investment
China's insurance regulator has set a 10% and 30% ceiling for the country's insurance groups and their subsidiaries' investment into non-financial sectors and non-insurance financial industries respectively.
Malaysian insurers should consolidate – central bank
The Malaysian central bank governor has said that consolidation amongst insurers in the country is encouraged.
Budget 2010: Broker IPT burden significantly reduced
Broker trade bodies the British Insurance Brokers’ Association and the Institute of Insurance Brokers have both expressed their satisfaction following the publication in today’s Budget of the final legislation extending the scope of insurance premium tax.
CEA concerned about impact of partially renewed insurance BER
The CEA, the European insurance and reinsurance federation, is concerned that the only partial renewal of the Insurance Block Exemption Regulation, as adopted today by the EU College of Commissioners, will reduce cooperation between insurers, to the…
CEA concerned about impact of partially renewed insurance BER
The CEA, the European insurance and reinsurance federation, is concerned that the only partial renewal of the Insurance Block Exemption Regulation, as adopted today by the EU College of Commissioners, will reduce cooperation between insurers, to the…
Budget 2010: LCCI: Budget a “mixed blessing” for City businesses
The London Chamber of Commerce and Industry has claimed that the 2010 Budget is a “mixed blessing” for businesses in the capital.
Budget 2010: Darling to “double” entrepreneurs CGT relief
Chancellor Alistair Darling has revealed that the government will double entrepreneurs relief for capital gains tax.
Budget 2010: Government pledges to support insurers on Solvency II
The government has vowed to continue its support to insurance firms ahead of the implementation of Solvency II.
Budget 2010: Government pledges to support insurers on Solvency II
The government has vowed to continue its support to insurance firms ahead of the implementation of Solvency II.
Budget 2010: Industry to offer guidance on how to deal with criminals
The insurance industry is looking to publish guidance for insurers on how to treat customers with criminal convictions.
Budget 2010: Government to consult on administration regime for insurers
The government today launched a consultation on proposals to strengthen the administration regime for insurers, ensuring consistent treatment for policyholders of insurance contracts under the insolvency and administration regime.
AIA directors to quit ahead of Prudential deal
Two senior executives have said they would leave AIA, the Asian arm of AIG, just weeks after plans were announced to sell the company to Prudential for $35.5bn.
European Commission adopts anti-trust block exemption rules
The European Commission has adopted a new regulation that exempts certain types of agreement in the insurance sector.
European Commission adopts anti-trust block exemption rules
The European Commission has adopted a new regulation that exempts certain types of agreement in the insurance sector.
Zurich to put in new controls after being found in breach over data loss
Zurich Insurance has agreed to improve information security after losing over 46 000 individuals’ personal financial information.
Zurich to put in new controls after being found in breach over data loss
Zurich Insurance has agreed to improve information security after losing over 46 000 individuals’ personal financial information.
AirSP appoints new chairman
Association of Insurance and Reinsurance Service Providers appoints Julian Porter of Factorre as its new chairman
Willis to make redundancies to trim costs - sources
According to Reinsurance sources, Willis has already begun to make cuts in its casualty unit with more expected across the board
Markel appoints joint heads for speciality division
Markel International has promoted Robin Ungless and Wayne Paternoster to joint managing directors of its specialty division.
US class-action securities lawsuits rose 39% in 2009
Settlements rose 39% in 2009, according to a study by Stanford Law School and Cornerstone Research, less than feared by many US D&O insurers.
Defaqto: 8% of policies not offering car replacement cover
Almost one in ten car insurance policies do not over new car replacement cover, research from Defaqto has shown
Forensic accountancy firm adds to regional offices
Forths, which provides forensic accountancy services to insurance companies, has opened a second office in Leeds.
Endurance raises $85m
Bermudan (re)insurer reopens 2004 debt offering of 7% senior notes due 2034 to raise funds for “general corporate purposes.”
Ecclesiastical reports £100m swing in profits
Specialist insurer Ecclesiastical has announced a net profit of £79m for 2009 - a swing of almost £100m after a loss of £22.5m in 2008.