News
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.
Marsh urges chemical companies to comply with EU regulations
Marsh has warned of the risk and insurance implications of failing to adhere to the European Unions's Registration, Evaluation and Authorisation of Chemicals framework.
New APC office and surgeries product launched
APC Underwriting has launched a new dual office and surgeries product with increased flexibility to cover most of the UK's two million home based businesses.
Aon and Allianz team up to offer new product
Aon Risk Services has partnered with Allianz Global Corporate and Speciality to launch a new product aimed at restoring confidence in insurance portfolio stability.
Giles expands in North east
Giles Insurance Brokers has acquired Arnott Commercial Insurance Services and Arnott Marine, the company said today.
Ace adds to Irish division
Ace Europe has appointed Jim Duncan as Property and Casualty country manager for Ireland, it announced today.
Quinn confirms 500 new jobs
Five hundred new jobs are set to be created over the next four years following the opening of Quinn Insurance's new Cork office. Tanaiste Mary Coughlan said today.
PB Week: A party at Somerset House
Professional Broking's editor Andrew Tjaardstra gives the market the lowdown on his week in insurance.
Foreign profits taxation changes could lead to uncertainty for some insurers - E&Y
The exemption of the foreign dividend income tax changes announced in this week's Pre Budget Report (PBR) will impact many insurance groups carrying out business in the UK, according to Ernst & Young. And this could lead to uncertainty for year end…
New piracy policy from Aon aims to fill market gap
Aon has written a new policy for charterers, ship-owners and cargo owners to cover loss of earnings from piracy. The insurer sais the recent increase in pirate attacks has revealed a gap in the available coverage for this market.
UK insurance buyers agree reservation rights position with insurers
UK risk management body Airmic has agreed a Statement of Principles in relation to reservation of rights following talks with its insurer partners.
New London market broker body launch
The London and International Insurance Brokers Association is launching on 1 January following a unanimous vote by London market brokers at a meeting today.