News
SRA receives 121 ABS applications
The Solicitors Regulation Authority has revealed it has received 121 Stage 1 applications from organisations wanting to be regulated as an alternative business structure.
MGAA elects board and targets FSA regulation
The Managing General Agents Association has formed its first elected board with Reg Brown as chair.
BT Claims to serve insurers and brokers
Telecoms firm BT's in-house claims arm has applied to the Solicitors Regulation Authority to become an alternative business structure, with plans to offer services to insurers and brokers.
Garwyn calls for "thorough" fraud investigation of claims to tackle compensation culture
Liability adjuster Garwyn has welcomed the government's initiatives to tackle the compensation culture following the insurance industry's meeting with Prime Minister David Cameron and business leaders.
Direct Line Italy selects provider for improved claims management system
Direct Line Italy is launching a claims management system to support the company's continuous growth and maintain customer satisfaction.
William Russell launches global plans in Abu Dhabi
International expatriate insurance specialist William Russell has opened its global health, life and income protection insurance plans to businesses in Abu Dhabi.
Japan earthquake risks rise to 93%
Catastrophe modelling firm Air Worldwide has said the Tohoku-Oki earthquake changed the landscape for quake risks in Japan, increasing the risk of severe quakes from 72% to as high as 93%.
Miller names two in political risk push
Miller has bolstered its political risk, trade credit and political violence capabilities by recruiting James Cunningham, pictured right, from Marsh, and Ewan Wauchope, left, from AJ Gallagher.
Post webinars - Future risk: How can the insurance industry influence the agenda in the climate change debate?
The chairman of Climatewise John Coomber recently wrote that the global response to climate change to date had been "lethargic" and "totally out of proportion with the scale of the threats we face".
Axa reports 2% rise in underlying earnings
Axa has reported underlying earnings in 2011 of €3.9bn – a 2% rise on 2010.
Quindell placing to raise £30m
Brand extension company Quindell Portfolio has raised £30m through an oversubscribed placing with institutional investors.
Spanish Supreme Court ruling puts paid to 14-year dam legal battle
The Supreme Court in Spain has ruled that the 1998 rupture of the Aznalcollar tailings dam near Seville, Spain, was not caused by a fault in the design of the dam.
Axa Germany appoints CEO
Axa has named Thomas Buberl as chief executive officer of Axa Germany, subject to approval by regulatory authorities.
Moody’s takes action against insurance groups exposed to Italy and Spain
Moody's has taken action on several European insurance groups and related entities to reflect the increased financial risks stemming from their operating and investment exposure to weakened European sovereigns and banks, and the ratings agency's…
THB buys AFL commercial wholesale account
THB has acquired AFL Insurance Brokers' UK commercial wholesale account.
Zurich and Travelers plead guilty to data protection breaches
Zurich, Travelers and FBD have pleaded guilty to illegally using social welfare information on individuals obtained through a private investigator.
House rebuilding costs show signs of moderating
The annual rise in the UK's index of house rebuilding costs produced by the Building Cost Information Service of RICS is showing signs of moderating.
Quinn Direct name dropped for Liberty Insurance
The new owners of Quinn Insurance have ditched the Quinn Direct brand, according to the Irish Independent.
Cooper Gay UK MGA undergoes an MBO
Cooper Gay & Co has rebranded its MGA platform, Oliva, as Globe Underwriting as part of a decision to refocus on international business.
Zurich sees 19% drop in GI profits after US$1bn cat losses in 2011
Zurich recorded a general insurance business operating profit of US$2.3bn in 2011, a decrease of US$403m or by 15% in US dollar terms and 19% on a local currency basis.
Law firm unsurprised by FSA Cole depature
Pinsent Masons is "not surprised" by Financial Services Authority boss Margaret Cole's departure because Martin Wheatley was appointed to chief executive of consumer protection and markets authority last year.
Aon Limited appoints Pettigrew as non-executive director
Aon Limited, the UK risk management and reinsurance business of Aon Corporation, has appointed Jim Pettigrew as a non-executive director, with immediate effect.
Zurich proposes changes to name and board
Zurich Financial Services Group is to propose a name change to reflect its strategic focus on insurance – Zurich Insurance Group Ltd.
Zurich reports $256m (£163m) UK operating profit
Zurich's UK general insurance business combined ratio improved 2.7% to 97%.