News
ABI: trade credit claims up 95% in 2009
Latest figures from the Association of British Insurers show that trade credit insurance helped UK businesses by dealing with 22 791 claims in 2009.
Overall Xynthia loss put at Euros 1.28bn
Perils AG today disclosed its initial loss estimate for Windstorm Xynthia, which occurred at the end of February 2010.
RSA and Axa named as potential bidders for Quinn
Dutch insurance giant Eureko, RSA and Axa have been named among the 20 or so predators circling the Quinn Insurance group, according to reports in Ireland.
Overall Xynthia loss put at Euros 1.28bn
Perils AG today disclosed its initial loss estimate for Windstorm Xynthia, which occurred at the end of February 2010.
RSA and Axa named as potential bidders for Quinn
Dutch insurance giant Eureko, RSA and Axa have been named among the 20 or so predators circling the Quinn Insurance group, according to reports in Ireland.
Generali capital requirements “not a problem”
Assicurazioni Generali SpA’S capital requirements are “not a problem,” an official at the Italian insurer said in an interview with newswire Bloomberg.
Defaqto names new COO
Defaqto has named former Balfour Beatty corporate development boss Zahid Bilgrami as it is new chief operating officer.
Flood Bill gains Royal Assent
The Flood and Water Management Bill has gained Royal Assent after passing through the House of Commons and House of Lords earlier this week.
Ambac increase in income but may file for bankruptcy
US credit insurer's results aided by $443.9m tax refund allowing the credit insurer to carry back 2008 and 2009 operating losses as far back as 2003
PMI handbook launched for IFAs
Private Medical Insurance publishers Craigdallie has published a PMI Handbook for professional advisers seeking information on the different PMI plans available in the UK market.
HSBC duo joins Lonmar Global Risks
Lonmar Global Risks has revealed David Gray and Simon Henderson will be joining the company from HSBC Insurance Brokers to lead the accident and health division, within the non-marine business.
Jubilee raids Oval for A&H Underwriter
Jubilee has appointed Steve Green as Accident & Health underwriter at Jubilee Syndicate 5820.
CRM in quota share deal with Amtrust
Bermuda workers’ compensation (re)insurer CRM Holdings has entered into a quota share agreement with US specialty property casualty insurer AmTrust Financial Services
Allianz unveils new heads for Italy and Turkey in shake up
George Sartorel, currently CEO of Allianz Turkey, is poised to become new CEO of Allianz Italia.
Aviva outlines Asian direct motor plan
Aviva has outlined plans for its re-entry Singapore’s general insurance market and stated its intent on rolling out the business in key markets in Asia.
Allianz unveils new heads for Italy and Turkey in shake up
George Sartorel, currently CEO of Allianz Turkey, is poised to become new CEO of Allianz Italia.
Reinsurers face tough times in soft market – AM Best
AM Best’s global financial review of reinsurance notes US taxation and underwriting discipline amongst the major challenges to be faced by reinsurers
Aviva outlines Asian direct motor plan
Aviva has outlined plans for its re-entry Singapore’s general insurance market and stated its intent on rolling out the business in key markets in Asia.
Former Hartford CEO gets $39.9m payout despite bailout
Ramani Ayer, whose stock and bond bets pushed the Hartford Financial Services Group into a US government bailout, will receive a pension payment of $39.9m in May.
Berkshire Hathaway to be sued after fraud accusations
Ex-manager of Warren Buffett’s RV business claims firing violated ethics
Ceiops chair outlines latest thoughts on GI proposals
In a letter to Jörgen Holmquist, director general, European Commission internal market and services directorate general, the Ceiop chair Gabriel Bernardino has submitted the last set of advice on the Solvency II level 2 implementing measures which have…
Government pledges to halve £1000bn debt by 2014
The government has pledged to reduce the national debt of more £1000bn by half within four years as part of the Fiscal Responsibility Act.
Sagicor revenue climbs to $1.2bn
The Sagicor Group of Companies reported total revenue for the year climbed to $1.2bn (£781m) from $1.1bn for the previous year. Premium revenue, net of reinsurance, grew by $130.9m or 18.4% to reach $842.9m.
Hannover Life Re expands mortality team
The life and health reinsurance arm of European giant Hannover Re, has added three new hires to its US mortality solutions team.