News
Olympics cancellation could cost $5bn, says Munich Re
Munich Re has warned that cancelling the London 2012 Olympics in the event of a terrorist strike or natural disaster would cost the insurance industry as much as $5bn (£3bn), according to The Telegraph.
Zurich's general insurance CEO set to leave
Mario Greco has decided to return to Italy to assume the role of Generali Group CEO.
RFIB transfers Australian energy business to Tolehouse Risk Services
RFIB and Tolehouse Risk Services have announced the transfer of ownership of RFIB Energy Australia to Tolehouse effective 30 June 2012.
Brit boss Cooter 'continues to assist' in QBE integration
Former Brit director of market management and regional operations Simon Cooter may yet have a part to play following the QBE UK and Ireland regional restructure.
QBE identifies regional leaders in UK and Ireland restructure
QBE has unveiled a string of managerial appointments as part of a UK and Ireland restructuring process following the acquisition of Brit's regional operations.
XL launches five-strong product suite
The XL Group has today launched a suite of five products designed partly to respond directly to clients' concerns about clarity and certainty in the claims notification process.
Rossiya on negative watch following licence suspension
OJSC Rossiya Insurance Company has had its B- insurer financial strength rating placed on negative watch by Fitch.
RIIG promotes Vater to CEO role
Resources in Insurance Group has promoted Gordon Vater to chief executive officer, effective from 1 June 2012, to work more closely alongside executive chairman John French on corporate and developmental matters.
Grupo Catalana Occidente in exclusive negotiations for Groupama's Spanish arm
Grupo Catalana Occidente and French insurer Groupama have entered exclusive negotiations regarding the acquisition of Groupama’s Spanish operation, Groupama Seguros Sant Cugat.
Allianz issues top tips on keeping property safe during Jubilee weekend
Allianz Retail is advising brokers and customers on how to make sure their possessions and properties are secure during the Jubilee festivities.
Future of Generali chief in doubt over Eurozone woes
Generali chief executive Giovanni Perissinotto may be the latest casualty of the Eurozone turmoil, according a report by Reuters.
Towers Watson builds IMC business with senior European appointments
Towers Watson has appointed Sabine Leboulanger in France and Henning Maass in Germany to lead the growth of its Insurance Management Consultancy practice in Europe.
Indian insurance giant appoints new chairman
Dinesh Kumar Mehrotra has taken over as chairman of India's largest insurer, Life Insurance Corporation of India.
GM China boss predicts upturn in motor sales after slump
General Motors has claimed that the Chinese motor industry is poised to rebound from its worst four-month slump in 14 years.
Hyperion IPO to reach 'critical mass'
Hyperion's acquisition of Windsor will boost the international broker's chances of a successful IPO, analysts have said.
Indonesian insurers told to prepare for life as non-profit organisations
State-owned Indonesian insurance companies PT Askes and PT Jamsostek have been asked by the House of Representatives to make preparations for their transformation into non-profit public institutions.
Munich Re pulls Indian reinsurance support over premium concerns
Munich Re has almost pulled out of India entirely, it has been reported.
Hyperion completes Windsor takeover deal
International insurance intermediary group Hyperion has confirmed it will acquire Lloyd's broker Windsor from the management and employees and their institutional backer Hutton Collins.
Tenth of Brits clueless about home insurance cover, says L&G
Almost one in 10 people in the UK do not know what is covered by their home contents and building insurance policies.
Carmichaels rebranded as Argent
Specialist property adjuster Carmichaels has been rebranded as Argent Property Adjusters as part of parent company Parabis Group's integration of its loss adjusting businesses.
DLG latest firm to support OFT's credit hire referral
The Direct Line Group has become the latest insurer to back the Office of Fair Trading's decision to provisionally refer the study into vehicle repair services to the Competition Commission.
Korea Life and KB Financial shortlisted for ING acquisition
Korea Life Insurance and KB Financial Group have been shortlisted in the bidding for ING Groep NV's life insurance operations in Asia, according to Dow Jones newswires.
Labour backs calls for competition probe into UK motor
Maria Eagle MP, Labour's shadow transport secretary, has thrown her weight behind earlier calls for a fully fledged investigation into the "spiralling" cost of UK private motor insurance.
Ace launches mobile phone air-time fraud cover
Ace Group subsidiary Ace Insurance has introduced a mobile phone air-time guard for Asia Pacific, which it claims is the first of its kind.