News
Amlin teams with Oxford Uni on modelling project
Amlin will today release the initial findings of a research project with Oxford University on fears of systemic dangers generated by the increasing prevalence of risk modelling.
Markel 2013 profits climb after Alterra acquisition
Markel has seen its 2013 profits improve by almost $30m after integrating Bermudian insurer and reinsurer Alterra.
Met Office warns of 'danger to life' across Southern England
The Met Office has issued 16 severe flood warnings in South west and South east England this morning, warning that water levels represent a danger to life in the regions.
Mayer Brown defends five Lloyd's syndicates from Madoff action
Law firm Mayer Brown has helped defend an action from Swiss financial advisers Genevalor, Benbassat & Cie on behalf of three funds under an insurance policy.
Ace appoints chief underwriting officer in Asia-Pacific
Neil Moon, Ace's head of casualty, Asia-Pacific, has been promoted to chief underwriting officer, Asia-Pacific. Moon will be replaced in his role by Adam Clifford.
European CFOs optimistic on profitability growth
European insurance chief financial officers are optimistic about increasing profitability, with a Moody’s survey finding nearly half of CFOs predicting their operating profit would grow between five and 10% in the next year.
QBE recruits from Allianz, AIG and Hiscox in tech drive
QBE has swooped for four new technology, media and telecommunications specialists, recruiting from Allianz, AIG and Hiscox.
UK floods tipped to cost industry close to £500m
PWC has estimated weather-related damage in December 2013 and January this year could cost the insurance industry up to £500m.
Allianz launches new healthcare plan for seafarers
Allianz Worldwide Care has unveiled a new healthcare product designed to provide care to seafarers in compliance with the Maritime Labour Convention.
Patel to take on group legal counsel role at BH in April
Brokerbility Holdings has appointed Jitendra Patel as group legal counsel.
Ace Global Markets increases environmental insurance capacity
Ace Global Markets is increasing its capacity for clients seeking environmental liability insurance coverage to $50m (£30m).
Ex-Wilby associate director to lead Bluefin's Skipton branch
Bluefin has appointed Tracey Weston to the position of branch director at the broker’s Skipton office.
Contractors urged to up security as theft claim value increases
Building trades insurer ECIC is urging contractors to increase security to protect their equipment after the claims value of tool theft increased by £2226 in the past year.
Positive market response leads LWI to pursue global growth
Energy loss adjuster Lloyd Warwick International is planning on opening new offices and recruiting “stars of the future” in a bid to support international growth.
UK pet insurance market expected to remain stable
The outlook for UK pet insurers remains positive over the next five years following a 35% increase in the market between 2008 to 2012, according to an insurance software provider.
Giles and Bollinger deals forecast to cost Gallagher up to £17m through 2014
US broker Arthur J Gallagher is set to pay an estimated £17m in integration costs through this year following the acquisitions of Giles and Bollinger in 2013.
Now Health launches Singapore operation
Health insurer Now Health International has opened a Singapore office partnering with Tenet Sompo as its underwriter in the region.
CFC annual pre-tax profits climb 27%
The UK’s largest specialist lines managing general agent has witnessed both its revenues and profits climb in figures issued this morning.
Aviva faces £323m bill for technical errors
Aviva is facing a compensation bill of up to £323m following technical errors that have resulted in underpayments over a number of years, according to reports.
Pre-tax profits at Catlin climb 27% in 2013
Catlin's pre-tax profits reached $432m in 2013 - up 27% from $339m the previous year.
Soft market in Asia to hit record, says Marsh
Commercial insurance rates in Asia are expected to reach historic lows this year, according to Marsh's 2014 Asia Insurance Market Report.
Fires destroy 20 homes in Victoria
Victoria, the South-East Australian state, is facing some of the worst wildfire conditions since Black Saturday in 1999.
Total Philippines insurance premiums grew 47% in 2013
The outlook is strong for insurers in the Philippines according to ratings agency Fitch, although the life sector is stronger than general insurance.
Revised Code of Practice introduced by Australia insurance board
The revised code will be launched by the Insurance Council Board on 1 July with everybody requested to be compliant by 1 July next year.