News
Captive Domiciles: new entrants cause a stir
New captive domiciles are emerging with clear regulations which are attractive for captives. Jane Bernstein asks if there is room for everyone.
Oxygen London market team set for Gallagher move
A deal which will see Oxygen’s 21-strong London market team join Arthur J. Gallagher has today been announced.
EU corporate governance poll results
Find out what the market voted for on EU corporate governance.
Generali reports strong growth in Q2 but net profits down 7.7%
Generali has reported operating result of €2.4bn for the first six months of 2011 reflecting a stronger pace of growth in the second quarter, with robust progress in Italy, France and Eastern Europe.
Groupama boss encouraged by interim results
Groupama CEO François-Xavier Boisseau has described the first six months of the year as "very encouraging” for the company’s UK businesses, following interim results in which a combined UK operations profits increase of 34% was recorded.
Dexia Bank Q2 results impacted by Greece but insurance performs well
In Q2 2011, Belgium Dexia Group reported a net income group share of €-4.03bn, reflecting the May decision to accelerate its financial restructuring as well as an impairment on Greek government bonds in line with Dexia’s participation to the IIF Greece…
Argent Liability Adjusters move into bigger base in South West
Argent Liability Adjusters’ Bristol team are to move into new offices that are double the size of their current base.
Global storm activity increased in July
Aon Benfield's Impact Forecasting has revealed that July was characterised by an increase in global tropical cyclone activity as the calendar turns to the Atlantic Hurricane Season reaching its historical peak of activity.
Barclays Corporate bolsters insurance team with new appointment
Barclays Corporate is growing its corporate banking franchise in the insurance sector with the appointment of Jean-Pierre Darque, who will take on the role of relationship director within the insurance team, covering Western Europe.
Groupama reports rise in net income despite €84m Greece hit
Groupama SA has reported premium income of €8.4bn for the first six months of 2011, down -2.5% on a like-for-like consolidation and exchange rate basis.
Allianz Group’s net profit falls by 7%
Allianz Group has generated a quarterly net income of €1.1bn (2010 - €1.2bn), despite a net burden of €326m due to current impairments for Greek sovereign bonds and “significantly adverse” currency movements.
Shadow Treasury minister tells Osborne to take Solvency II "more seriously"
Chris Leslie MP, shadow financial secretary to the Treasury, today called on the Chancellor to initiate higher level debate on the effects of Solvency II on UK consumers and business.
AIG CEO hails return of AIG as "an investment-grade company"
The CEO and president of AIG has heralded its Q2 financials as a sign that it is again "an investment-grade company independent of government support".
Allianz UK arm sees benefit of 4.6% rate increases with H1 GWP uplift
Allianz’s combined written ratio has depreciated slightly to 96.2% (2010 - 95.3%) for its half year results for 2011.
RBS Insurance Q2 COR improves to 99% and profit doubles to £139m
Royal Bank of Scotland Insurance this morning reported that its operating profit has doubled to £139m from the previous quarter and improved even more from the corresponding period last year (Q2 2010: £203m loss).
Groupama UK arm reports decline in fleet driven by taxi book
Groupama today revealed that premium income for its UK arm rose by +0.9% to €276m (£240m) at 30 June 2011.
Giles confirms redundancies may be needed to "achieve benefits" of CBG deal
Giles has today admitted that in order to achieve the planned benefits of the acquisition of CBG, some operational restructuring will be required following completion of the deal, which may lead to some redundancies.
Ernst & Young makes three senior appointments to London & Bermuda insurance
Global financial services provider Ernst & Young have appointed three people to senior roles in the London & Bermuda Insurance team.
Fitch downgrades Groupama’s IFS
Fitch Ratings has downgraded the Insurer Financial Strength rating of Groupama SA and four of its core insurance subsidiaries to ‘A-‘ from ‘A’.
Aon Benfield issues weather warning
Aon Benfield’s catastrophe modelling centre, Impact Forecasting, says July saw an increase in global tropic cyclone activity ahead of the Atlantic hurricane season reaching its peak.
CII names disciplinary committee chairman
Peter Taylor has been appointed as the new lay chairman of Chartered Insurance Institute’s disciplinary committee.
Canopius appoints underwriters to sabotage and terrorism team
Canopius has appointed Tim Davies and Jennie Beard as underwriters to its sabotage & terrorism team.
Swiss Re teams with Aon Benfield to implement Acord
Swiss Re and Aon Benfield have worked together to implement automated technical accounting, claim and cash transactions using Association for Cooperative Operations research and Development (Acord) messaging standards in the US and Canada.
Lloyds Bank reports GI profits up 10%
The insurance division of Lloyds bank has reported a half year profit before tax of £543m – up 16% compared with £469m in the first half of 2010.