News
Indian insurers lambasted for fire premium price war
India's Finance Ministry has censured four state-owned insurers for offering "ridiculously low" fire premiums to corporate clients after attempts to undercut each other led some to offer 100% premium discounts.
US property and catastrophe insurers to sustain largest Hurricane Isaac losses
Primary insurers including Liberty Mutual Group are likely to bear the brunt of any insured losses arising from Hurricane Isaac, Fitch Ratings has claimed.
Labour ministers slam Solvency II anti-competitiveness
The Labour Party has criticised the Solvency II directive for potentially damaging competition in the UK insurance market.
Hurricane Isaac will not be a 'Katrina event'
Hurricane Isaac could cause up to £304m ($480m) in insured losses, experts have predicted.
Autonet to launch on aggregator Uswitch
Motor broker Autonet is to place several van insurance products on price comparison site Uswitch imminently.
Typhoon Tembin narrowly misses Taiwan on its return
Taiwan residents were relieved earlier today after Typhoon Tembin failed to make landfall for a second time in the region.
William Russell expands expat dental cover
Global expatriate insurer William Russell has launched a new optional dental benefit plans for businesses.
US drought to create $20bn crop insurance losses
Catastrophe modelling firm Air Worldwide has estimated that the US drought could leave the insurance industry with a $20bn bill for the losses America's crop farmners have sustained.
Kwik Fit helps staff find new roles ahead of Glasgow consolidation
Kwik Fit Financial Services will press ahead with consolidating its insurance business in Glasgow, after revealing that the majority of the 170 employees affected by the closure of its Birmingham office have secured new positions.
Venezuelan oil refinery blast kills 48 people
An oil refinery in Venezuela went up in flames after three tanks exploded on Saturday morning.
Join Allianz, Groupama and Miller in 2012 insurance football tourament
The Prince's Trust is today calling on insurance companies to help tackle youth unemployment by taking part in the charity's annual fundraising football tournament.
Lloyd's broker relationships crucial for expansion
Lloyd's must develop and broaden relationships with its brokers in order to fulfil its expansion targets in emerging markets, says a Guy Carpenter report released today.
Cat bonds and sidecars favoured over traditional reinsurance, Fitch finds
Fitch Ratings has revealed that capital market alternatives to reinsurance from sources such as catastrophe bonds, collateralised quota-share reinsurance vehicles, and other risk transfer structures represent an increasingly viable alternative to…
Marsh recruits new head of Swedish division
Broker Marsh has appointed Kenneth Miger as chief executive officer of Marsh AB in Sweden.
Swiss Re unveils new Middle East and Africa boss O'Neill
Swiss Re has appointed Frank O'Neill as market executive for the company's reinsurance operations in the Middle East & Africa region, effective 1 January 2013.
Italian motor and property markets offer opportunities, according to new report
Italy stands at the crossroads of economic and social change, and therefore offers interesting opportunities for the insurance industry.
Kenneth Miger to become CEO of Marsh AB
Former Securitas boss Kenneth Miger has been appointed chief executive of Marsh AB in Sweden.
No major damage after typhoon Bolaven strikes Japan
Typhoon Bolaven, a strong Category 3 typhoon, made landfall in northern Okinawa at around 12:00 UTC on 26 August.
Direct Line flotation is imminent
Direct Line Group's initial public offering could launch in a "matter of weeks".
Bartlett opens Australian office
Lloyd's broker Bartlett & Company has opened and office in Sydney, Australia, to serve clients with businesses in the region.
One Answer doubles office space to train staff and apprentices
One Answer Insurance has hired three apprentices while doubling its East Sussex office space for staff training.
Great Eastern CEO hails stake sale as "significant step" in China expansion
Great Eastern Holdings has entered into a conditional sale and purchase agreement with Chongqing City Construction Investment to sell 25% of its equity interest in Great Eastern Life Assurance (China) Company for RMB303m (£32m).
Global expansion key to Lloyd's competitiveness
The Lloyd's market needs to expand its global reach to remain competitive in the future, according to a new report by Guy Carpenter.
Lockton hires Mike Tyler to head new UK employee benefits division
Lockton has unveiled plans to enter the UK employee benefits market with a series of new products and services, by 1 January 2013.