News
RSA eyes wind farm opportunities after government gives greenlight
RSA has welcomed the government’s decision to approve the expansion of the Kentish Flats wind farm off the Kent coast.
One Answer Network snaps up Broker Drive
One Answer Network has acquired Broker Drive, in a deal which will see the network increase its membership base to well over 200.
Late notice means Marsh may miss Efra committee flood meeting
Marsh has confirmed it may have to pull out of a government select committee meeting on flood defence funding, leaving the Association of British Insurers and Aon Benfield as the insurance industry’s only representatives.
Sandy hit AIG reports $4bn Q4 loss
American International Group reported a net loss of $3.4bn for the full year 2012, following a net loss of $4bn for the fourth quarter.
Axa picks up Ecclesiastical’s mobile catering scheme
Slade Edwards Insurance Brokers has transferred its mobile catering insurance scheme to Axa commercial lines and personal intermediary.
Tempo pairs with W R Berkley on Commercial D&O
Tempo Underwriting has initiated plans to underwrite commercial directors’ and officers’ liability cover through a binding authority deal with W R Berkley.
Kanis to take the reigns of Helvetia's reinsurance division
Former XL property underwriter Gérald Kanis will take over the management of the reinsurance division at Switzerland's Helvetia Insurance from 1 March 2013.
Social media cover launched by Arc Legal amid growing online defamation concerns
Arc Legal has become the latest firm to respond to the challenges posed by online defamation via social networking sites such as Twitter, by launching a social media defamation cover.
Aggregator quotes peak at 163m in January
Open GI has recorded its highest monthly volume of aggregator quotes, amounting to over 163m in January 2013, with motor quotations amounting to 90% of the this figure.
Singapore's finance and insurance sector sees growth in Q4 2012
In the fourth quarter of 2012, year on year GDP growth in Singapore's finance and insurance sector was 3.3%, but growth deteriorated from the third quarter of 2012.
Earthquake strikes south China
A 4.8 magnitude earthquake in southern Guangdong province, on Friday morning (22 February), caused some disruption to Heyuan City, near the epicentre,and was felt in Hong Kong.
China targets polluting industries with mandatory insurance scheme
Heavily polluting industries in China will have to participate in a mandatory insurance program to ensure they can adequately provide compensation for damage.
Axa UK CEO "happy" with 9% commercial lines growth
The UK boss of Axa has admitted that he is “happy” with its performance in a “tricky” commercial market, although he stopped short at revealing its combined operating ratio for the 2012 financial year.
CILA takes IMD2 fears to Brussels
CILA boss Malcolm Hyde has taken his concerns on the Insurance Mediation Directive 2 to MEPs.
Ecclesiastical halts Gloucester relocation
Ecclesiastical has stopped its plans to relocate to Gloucester Docks following the termination of its agreement with Gloucester City Council to build a new headquarters in that location.
Zurich launches corporate accident and business travel product
Zurich has launched corporate accident a business travel policies available for business of all sizes, from SMEs to multinational corporations.
Cardif Pinnacle joins Protect
Cardif Pinnacle has joined the association for UK protection markets, Protect.
Analyst opinion divided on RSA dividend cut
News that RSA plans to cut its dividend has been met with a mixed reaction from the analyst community.
Swiss Re reports 2012 net income up 60%
Swiss Re has reported soaring net income alongside a special dividend for shareholders driven by P&C reinsurance business.
Indian watchdog hits SKS with Rs50 lakh fine
Shares in Indian finance firm SKS Microfinance fell 2.39% after it was fined Rs50 lakh by the Insurance Regulatory and Development Authority.
IAG to write off $260m following Equity sale to Aquiline Partners
Insurance Australia Group has announced that it recorded a loss of $182m in respect of its "discontinued" UK operations in the six months to 31 December 2012.
Giles recruits NIG Scotland boss to helm Glasgow branch
Independent broker Giles has swooped to recruit the leader of NIG’s Scottish operations.
Lancashire produces stable profit despite $44m Sandy loss
Lancashire Holdings saw an increase in gross written premium in 2012 to $724.3m (£475.8m) compared to $632.3m the year before. Its net operating profit slightly increased to $220.3m (2011: $219m) over 2012, and its combined operating ratio was reasonably…
Argo's head of aerospace to become underwriting director
Lloyd’s insurer Argo International has promoted Bruno Ritchie, pictured, to underwriting director.