News
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.
Bollington in ambitious growth strategy
UK niche and affinity broker Bollington has said it wants to grow its wholesale arm by 50% next year.
AEGIS snags senior casualty liability underwriter from AIG Europe
AEGIS London, the UK-based subsidiary of AEGIS (Associated Electric & Gas Insurance Services Limited), has appointed Paula Restrepo as a casualty liability underwriter.
Insurance news direct to your mobile with postonline
Postonline.co.uk has launched a new mobile phone friendly news service designed to make it easier and quicker for readers to access our breaking news on their Blackberrys and internet-capable mobile phones.
Transamerica Re gains Brazilian market approval
Transamerica Reinsurance has finally received approval from the Brazilian insurance regulator SUSEP to participate in the reinsurance market as an admitted life and personal insurance reinsurer via its AA rated (Standard & Poor's) underwriting affiliate,…
RSA launches new regional contractors product
RSA has launched a regional contractors insurance package in response to feedback from 100 interviews with brokers and customers in the regional construction industry.
BLD wins major contract
BLD Group, a specialist motorcycle claims management company, has won back the ACM ULR motorcycle account after a gap of nearly two years, the company announced.
Mutual insurers' annual turnover hits £3.46bn
Figures have revealed the UK's mutual economy has a revenue of £84bn and assts of £477bn.