News
Helphire to investigate Autofocus cases
Credit hire company Helphire is to re-open and review its cases which used evidence from Autofocus with a view to making recoveries.
Polish latest nation to visit UK for fraud prevention tips
A delegation from Poland is the latest in a number of nations that has visited London to learn more about the fraud detection techniques used by the British insurance industry.
Swiss Re and Mapfre take a bigger slice of Admiral
Admiral has extended its existing UK car insurance reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re into 2014.
Markel to use investment success to target further Europe expansion
Markel finance director Andy Davies has confirmed the company will seek further European acquisitions this year on top of the German buy of Anglo Underwriting already announced.
City wants regulation simplified
Law firm Evershed’s survey of the City has found that a narrow majority (51%) of City businesses think that Solvency II should be simplified compared to a quarter (27%) who believe that it does not require any changes.
FSA demands 15.6% rise in its final budget
The Financial Services Authority has said it needs a 15.6% increase in funding to £578.4m, up from £500.5m in 2011/12 for its final year as a regulator.
Chubb launches online system for life sciences companies
US insurer Chubb has launched an online system allowing firms undertaking clinical trials in China and Brazil to download local insurance certificates.
Reduced capacity in Asia will not affect all business lines
Despite catastrophe losses leading to reduced capacity in the Asia Pacific region, competitive rates are still possible on some lines, according to broker Marsh.
Zurich backs Airmic’s compliance database
Zurich has applauded Airmic's and FERMA's plans to develop a database of international insurance requirements
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Jackson delay must not allow dilution
Law firm Kennedys has urged the government not to let the delayed timetable for implementation of Lord Justice Jackson’s proposals on reform of civil litigation allow the proposals to be watered down.
Ex-Aon boss joins Ironshore
Former Aon boss Dennis Mahoney has joined the board of insurer Ironshore.
Cunningham Lindsey’s Roberts steps down
Cunningham Lindsey risk and compliance director Harry Roberts is standing down from the board to handle business interruption claims and reduce his working hours.
RTA injuries dive as traffic volumes fall
Motor vehicle traffic levels fell by 0.7% compared to the 12-month period ending September 2010, leading to a 5% fall in the number of injury road accidents reported to the police.
KBC has no plans to sell Bulgarian subsidiary
Belgium's KBC has denied claims in the local media that it plans to divest itself of Bulgarian insurance subsidiary DZI.
Zurich targets food and sports sectors
Zurich has launched mid-corporate sector-specific broker-sold products for the food & beverage sector and for sports, leisure & entertainment adding to its year-old Corporate Focus proposition.
Aviva and Brit credit hire cases reach Court of Appeal
Seven credit hire cases involving Aviva and Brit are set to be heard in the Court of Appeal later this month, Post has learnt.
Munich Re reports €0.71bn profit despite major losses
Munich Re reported a profit of €0.71bn for 2011, despite major losses and against the backdrop of the Eurozone crisis.
Markel reports investment and GWP growth counters catastrophe claims
Markel International saw gross written premiums rise 16% to $825m for 2011 ($709m) but a combined ratio of 116% (95%) included $123m, or 18 points, from natural catastrophes compared with $17m, or 3 points, in 2010.
Munich Re profits down 70%, GWP up 9%
Exceptional major losses and “burdens from the financial crisis” slashed Munich Re’s profit last year by more than 70% to €0.71bn from €2.43bn in 2010. This was despite gross written premiums being up by almost 9% to €49.6bn (€45.5bn).
Career development: AMII names 500th CII exam pass
John Davison, of independent financial adviser Ringrose Grimsley, has become the 500th Association of Medical Insurance Intermediaries’ candidate to pass the CII/AM11 IF7 exam.
News analysis: Management buyouts on the rise as teams tire of waiting
Following MBOs at Europ Assistance and A&A Group, could 2012 see a rise in such deals?
Government drops flood subsidy hint as Defra weathers harsh criticism
The government has hinted it is prepared to agree to some form of subsidy for flood-prone homes to enable insurers to continue to provide affordable cover.
RSA job cuts not mark of wider trend says recruiter
Regulatory changes are likely to keep technical roles in-house, however, the number of support function redundancies are expected to rise as an industry-wide outsourcing trend continues in 2012.