News
Towergate makes double acquisition
Towergate Insurance has acquired the non-life insurance business of Dean & Milward and Greaves Adams.
DLG claims transformation manager joins First Central fraud team
First Central has appointed former Direct Line Group claims transformation manager Chris Hallett to the role of operations manager at the firm's recently formed counter-fraud services team.
PowerGuard to provide insurance for Chinese solar firm
PowerGuard Specialty Insurance Services will provide a range of long-term insurance and warranty-related cover for ReneSola, a Chinese manufacturer of solar wafers and modules.
ING considers European IPO
Dutch insurance group ING is contemplating an initial public offering for its European insurance businesses, the firm's chairman said this week.
Merlin makes 200 redundancies
Merlin Claims is to make 200 people redundant after going into administration this week.
RJ Kiln's Syndicate 510 on course for 2011 profit
Tokio Marine-owned Lloyd's syndicate R J Kiln & Co Limited has updated forecasts for the 2010 and 2011 years of account for its four non-aligned syndicates.
HSBC reviewing stake in Bao Viet Holdings
HSBC is "reviewing its strategic options" with respect to the firm's Vietnamese insurance business.
SRA to introduce rating disclosure change
The Solicitors Regulation Authority has agreed to a 'minor change' to the Qualifying Insurer's Agreement whereby insurers will have to disclose their credit ratings.
Lockton woos another ex-Lucas Fettes broker to Manchester operation
Clare Mackay is the latest Lucas Fettes broker to join Lockton's recently formed Lloyd's and London market unit in Manchester.
Indian PMI insurer Apollo Munich Health aims for profit in 2013
Indian health insurer Apollo Munich Health Insurance has recorded gross written premiums of Rs 475.9 crore and aims to turn a profit next year.
Ecclesiastical calls off wedding insurance
Ecclesiastical Insurance has promised soon-to-be married couples to honour all wedding insurance policies sold before 31 August, following plans to withdraw from the wedding insurance market thereafter.
FSA enforcement appointment wins backing of legal expert
CMS Cameron McKenna boss Simon Morris has praised the appointment of Tracey McDermott as FSA director of enforcement, describing her as "clear, tough and determined".
Hannover Re profit soars despite €61m quake loss
Hannover Re has reported a 15.1% improvement in gross written premium for non-life reinsurance to €4.1bn (H1 2011: €3.5bn) compared with the same period last year.
Commercial expansion underway at Autonet following product launch
Autonet Insurance has expanded its commercial business product line following the introduction of shops and commercial let insurance.
ECIC rating affirmed by AM Best Europe
The Electrical Contractors' Insurance Company has had its A- rating affirmed with a stable outlook.
Cyber poll result
Why are European insurance companies failing to provide tailored cyber products?
XL group posts $397.8m interim profit
XL Group recorded profit of $397.8m for the first six months of 2012, after a $1.6m loss in the first half of 2011.
Cyber Risk Insurance Forum sets focus in inaugural meeting
The Cyber Risk Insurance Forum, established to develop a security framework for companies taking out cyber insurance, has held its inaugural meeting, expanding its membership and developing two lines of focus for its on-going campaign.
Società Reale Mutua di Assicurazioni's outlook negative due to weaknesses
Italian insurer Società Reale Mutua di Assicurazioni and its Spanish subsidiary Reale Seguros Generales have been issued with insurer financial strength ratings at 'BBB+' with negative outlooks.
Swiss Re's Q2 results hit by sale of Admin Re at a loss
Swiss Re has reported net profit of $83m for the second quarter of 2012 as the result of the sale of the Admin Re US business at a loss of $1bn.
Munich Re posts €1.6bn profit for H1
Munich Re posted consolidated profit of €1.6bn for the first six months of 2012, €812m of which derived from the second quarter.
Integro acquires broker Allan Chapman & James Insurance
Integro Insurance Brokers has acquired Colchester-based Allan Chapman & James Insurance Brokers for an undisclosed sum.
Aviva posts COR of 106% for H1 in Ireland
Aviva's general insurance and health business posted operating profit of £461m for the first six months of 2012, up from £455m in the first half of 2011, driven by strong UK performance.
Japanese insurance groups vulnerable to catastrophe and stock losses
Japanese non-life insurers are likely to come under rating pressure if insured catastrophe losses rise unexpectedly, or the domestic stock market falls sharply before they are able to restore their capitalisation, according to Fitch Ratings.