News
Belarus targets regulatory overhaul of insurance market
A major overhaul of the Belarus insurance industry is being planned in an effort to close the gap between Belarus and its European neighbours, according to online news agency Xprimm.
Jubilee hires former Swiss Re boss for speciality role
Lloyd's insurer Jubilee has appointed David O'Sullivan as head of life in a bid to grow the speciality life business.
XN Financial gets FSA green light for UK
Florida firm XN Holdings has secured Financial Services Authority approval for its UK subsidiary XN Financial Services to write insurance in the UK.
One in 10 homeowners do not have right insurance, research finds
Nearly 3.5 million UK homeowners do not have adequate home contents and buildings insurance, according to Money Supermarket.
CII membership up 6%, surplus up 142%
The Chartered Insurance Institute has published its Annual Review for 2011, showing a 6% rise in membership and an operating surplus of £1.85m, more than double last year's £0.764m
Allianz reports €30bn revenue in Q1
Allianz Group achieved total revenues of over €30bn in the first quarter of 2012, based on preliminary figures, compared to €29.9bn the previous year.
Mobile operator Three hit by claims fraud
Rising fraudulent claims has forced UK mobile phone network Three to stop selling phone insurance, the FT reports.
Aviva CEO Moss married employee the day after shareholder rebellion
Ex-Aviva chief executive Andrew Moss reportedly got married to former employee Deirdre Galvin the day after the shareholders revolt at the Annual General Meeting.
Quindell signs £120m deal with UK broker
Acquisitive outsourcer Quindell Portfolio claims to have landed a £120m three-year motor claims and supply chain outsourcing deal with a large un-named UK intermediary.
XL net income jumps to $227.3m after Q1 loss last year
XL has posted an operating net income of $165.2m for the first quarter, a slight increase on last year’s $163m but it has turned around its net income from a $227.3m loss to a $176.6m profit.
Crawford & Company posts 50% net income drop in Q1 results
Crawford & Company has recorded a 50% reduction in its first quarter net income, which stands at $6.1m (£3.8m) compared to $12.1m (£7.5m) for the same period last year.
Anglo-Arab launches war and terrorism travel cover
Anglo-Arab Insurance Brokers launched the first online global travel plan to include war and terrorism cover as standard at the Arab Travel Markets Conference in Dubai on 30 April.
Ousted Aviva boss Moss set to pocket £1.75m in remuneration
Aviva has this afternoon revealed that Andrew Moss will walk away with up to £1.75m after stepping down from his role as group chief executive.
Sign up to live webinar - Commercial property: Managing natural disaster risk
Globally, 2011 was a record year for natural catastrophe losses, and flood risk remains high on the agenda.
Sign up to live webinar - Commercial property: Managing natural disaster risk
Globally, 2011 was a record year for natural catastrophe losses, and flood risk remains high on the agenda.
Biba launches Find a Broker app
The British Insurance Brokers’ Association has launched a Find a Biba Broker mobile application for iPhones and iPads to help customers locate Biba members and promote general insurance brokers.
Aviva set to reap rewards of AJG swoop for IDL
Arthur J Gallagher International has today snapped up niche over-50s personal lines specialist Insure 4 Retirement from previous owner Equity. The deal boosts the premium per year being put through subsidiary OIM Underwriting by well over £100m in a…
FSA fines Mitsui Sumitomo for corporate governance failings
The Financial Services Authority has fined Mitsui Sumitomo Insurance Company £3,345,000 for serious corporate governance failings, and imposed a ban and fine of £119,303 on its former executive chairman, Yohichi Kumagai.
Aviva shareholder meeting played important part in Moss departure
The Aviva shareholder meeting was a "significant development" in chief executive Andrew Moss' decision to step down, a source close to the insurer has said.
IFB bolsters fight against fraud with four appointments
The Insurance Fraud Bureau has appointed four new members of staff.
Eurobase and Mphasis form strategic partnership
Eurobase Insurance Solutions, has formed a strategic partnership with applications and business process outsourcing company Mphasis to deliver a new shared solution to the market.
HSBC admits a further £290m in PPI costs
Bank HSBC has revealed it has set aside a further $468m (£290m) for payment protection insurance misselling claims in its Q1 accounts (Q1 2011: $440m).
Shareholders dismiss Regan as Aviva CEO heir apparent
Aviva shareholders have called for an external candidate to become the new chief executive, casting doubt over current chief financial officer Patrick Regan taking over the reins.
China publishes draft proposals on agricultural insurance
China has issued draft proposals for regulating agricultural insurance to solicit public opinion on the measures designed to promote the sound development of the farming sector, according to a circular published by the Legislative Affairs Office of the…