News
Pembroke appoints technology and media underwriter
Pembroke Managing Agency has appointed Shaun Cooper as Technology and Media Underwriter.
UK becomes second largest insurance market claims report
Figures released from International Financial Services London today claim that the UK insurance market overtook Japan in 2007 to become the second largest global centre for insurance after the US with 11% of global premium income.
FSA warns travel firms to act now or risk losing insurance business
The Financial Services Authority has warned travel firms who currently sell insurance alongside a holiday or other related travel - known as Connected Travel Insurance (CTI) - to apply for authorisation now or risk losing this business when CTI…
Ace risk management subsidiary sets up new practice
Ace's risk management subsidiary ESIS said that it has created a new environmental consulting practice.
AM Best assigns ratings to ZEP-RE
Kenyan reinsurer ZEP-Re has been given a financial strenght rating of B (Fair) and an issuer credit rating of "bb+" to ZEP-RE (PTA Reinsurance Company) (ZEP-RE). The outlook for both ratings is stable.
Former Marsh SME boss joins QBE
QBE has appointed Chris Wallace as head of UK development to oversee the coordination and delivery of QBE's national product offering.
Axis Capital makes acquisition
Bermudian reinsurer Axis Captital said that it has agreed to acquire the business and operations of managing general agent Dexta Corporation Pty Ltd ("Dexta") from its shareholders, Ironbridge Capital, Dexta Holdings NV and other minority shareholders.
XL Re wins Brazilian license
XL Re, the global reinsurance operations of Bermudian (re)insurer XL Capital Ltd today said that it has received regulatory approval to serve the Brazilian insurance market as a local reinsurer incorporated in Brazil and regulated by Brazilian…
Heritage CEO resigns
The board of Heritage Managing Agency, a member of Bermuda-based Argo Group has announced that its chief executive officer, Richard Pexton, has resigned, effective immediately.
Lloyd's welcomes NAIC proposal
Today Lloyd's welcomed news that the National Association of Insurance Commissioners (NAIC) has adopted its Reinsurance Regulatory Modernization Framework Proposal as a conceptual framework.
Allianz Engineering wins major contract
Building supplier Hanson UK has selected Allianz Engineering to provide its inspection services, the insurer announced today.
Oval report increase in annual turnover after releasing financial results
Oval has released its results, showing its profit before tax has increased by 16% to £4.6m. the company said it was pleased with its progress after its group revenues increased by 38% from £60m to £83m.
Gocompare boosts motor panel
Price comparison site Gocompare has added nine more brands to its car insurance panel.
KGM offers extended non-comprehensive motor cover
KGM Motor Insurance has launched TPF&T Plus, a new enhanced third party fire and theft policy.
Indian Overseas Bank in product distribution deal with Sompo
Public sector lender Indian Overseas Bank (IOB) today signed an agreement with Universal Sompo General Insurance Company of Japan for distributing products of the non-life insurer, the Business Standard has reported.
Kwik Fit Insurance to launch commercial assault with Moorhouse Brands
Kwik Fit Insurance is expanding into commercial lines with own-brand small to medium-sized enterprise products after joining forces with Moorhouse Brands, a trading subsidiary of Welsh broker Moorhouse.
Lorega in major HNW deal
Aon Private Clients has become the first in the UK insurance market to integrate Lorega's loss recovery insurance within its policy wordings after reaching a deal with six of its main insurers, Lorega announced today.
CNA Insurance appoints regional director
CNA Europe has confirmed the appointment of Paul Maidment to the newly-created role of regional director, UK & Ireland as reported by Post Magazine last week . Reporting to CNA Europe CEO Julian Enoizi, he will be responsible for the development of CNA…
Vietnam insurance industry expected to grow 12% in 2009
(BestWire) - Vietnam's Ministry of Finance said the insurance industry is expected to post an average growth rate of 12% to 13% in 2009, higher than the forecast growth of 8.22% this year.
US insurance industry sheds 1,500 positions in November
(BestWire) - U.S. insurance industry payrolls shed 1,500 positions in November, even as job losses in the broader economy topped 1.9 million in the past year, according to seasonally adjusted data released Dec. 5 by the U.S. Bureau of Labor Statistics.
Omega to raise £130m to support growth
Omega Underwriting plans to raise £130m before expenses, conditional upon approval at a special general meeting. The company said it will utilise the net proceeds of the placing to support the group's underwriting activities.
Mathers returns to head up new Lloyd's syndicate
R J Kiln has launched a new syndicate with parent Tokio Marine. Tokio Marine Kiln Syndicate 1880, as it will be known, has been approved by Lloyd's, and will be managed by R J Kiln, which currently manages four other Lloyd's syndicates (510, 807, 557 and…
Emerging markets non-life premiums grew by nearly 12% in 2007 says Swiss Re
Premiums in the non-life sector grew by 11.6% in 2007, research from Swiss Re has revealed. According to the group's Sigma Survey, premium volume in 2007 amounted to $199bn (£122bn).
NAIC modernises US state-based reinsurance regulation
The National Association of Insurance Commissioners has adopted its Reinsurance Regulatory Modernization Framework Proposal, which modernises US state-based regulation of reinsurance.