News
Europ Assistance completes MBO
Europ Assistance Holdings has completed a management buyout to become an independent entity.
Europ Assistance confirms UK MBO
Europ Assistance has confirmed that an agreement has been reached for the management buy out of its UK and Ireland arm.
Cunningham Lindsey expands executive board
Mark Henderson has been appointed as business improvement director at Cunningham Lindsey as the company adds three new appointments to its executive board.
Global tanker fleet hit by EU oil sanctions
New European Union sanctions on Iranian oil will impact around 95% of the global tanker fleet, including those operated by a major Bermuda shipping company, because they are insured under rules governed by European law.
Chartis Europe SA assigned "A" IFS ratings
Chartis Europe SA (France) and Chartis Europe (UK) have been assigned "A" (Excellent) financial strength ratings and "A" issuer credit ratings by AM Best.
Lancashire increases Japan quake loss estimate by 56%
Lancashire Holdings has increased its estimated exposure to the Tohoku earthquake by $42.2m, or 56%, to a net loss estimate of $117.3m (£74.8m).
S&P warns about Aviva, Allianz and Axa
Standard & Poor’s has issued a series of warnings about major insurers’ exposure to the euro debt crisis.
Financial institutions under “relentless attack” from fraudsters
Fraud in 2011 topped £3.5bn, according to KPMG’s fraud barometer, which revealed financial institutions are under “relentless attack”.
Italy's sovereign IDR slashed two notches by Fitch
Italy’s sovereign long-term issuer default rating has been downgraded to ‘A-‘ from ‘A+’ by Fitch.
Lone ranger Northcourt to provide capacity for growing nuclear risk
A coverholder which claims to be the first conventional insurer to bring capacity to the market that is not a mutual or part of a pool is to take advantage of growing demand from the eastern bloc.
ABI director general hails finance bill as 'important milestone'
Association of British Insurers director general Otto Thoresen has described today’s publication of the Financial Services Bill as “an important milestone” in the bid to achieve twin peaks regulation.
EC data privacy proposals costly for EU businesses
Proposals for new privacy regulations for companies handling EU citizens’ data may increase demand for cyber liability solutions, according to Lockton.
Solvency poll results
Will Solvency II cause captives to re domicile?
Asian Expansion: Local experts explain the market's attraction
Insurance Insight recently extended its coverage to include Asia. As part of the new remit Francesca Nyman spoke to some of the region’s major players about where they have a presence in the market, why Asian is attractive and the opportunities for…
NED Tim Ablett leads Europ Assistance UK MBO
Europ Assistance’s non-executive director and former Groupama managing director Tim Ablett has confirmed he is leading the management buyout of the travel insurer’s UK and Ireland arm.
Brightside board claims 'record year' in progress update
Brightside bosses are preparing to announce figures for a “record year” in which the acquisitions of E-Systems and eDevelopment have helped contribute to a significant increase in reported earnings per share.
US broker acquires London-based Chesterfield
HW Kaufman Financial, parent company of wholesale broker and underwriter Burns & Wilcox is to buy London-based insurance broker and underwriter Chesterfield.
Ex-Direct Line boss to chair A&A group after PE-backed MBO
Darwin Private Equity has entered into an agreement to acquire The A&A Group and Hyperformance Limited in a management buyout.
Fraudulent insurance claims buck trend in overall rise
Reported cases of false insurance claims were down by more than 26% last year, despite general levels of fraud in 2011 rising by almost 9% on the previous year.
Malaysian Reinsurance Berhad has "A-" IFS rating affirmed
AM Best has affirmed the financial strength rating of "A-" (Excellent) and issuer credit rating of “A-” of Malaysian Reinsurance Berhad, the wholly owned subsidiary of MNRB Holdings Berhad.
G Cube adds millions to green energy capacity
Renewable energy underwriter G Cube has boosted its offshore capacity by £64m to meet increasing demand.
FSA boss promises fairer deal for consumers with new regulatory approach
Financial Services Authority managing director Martin Wheatley has outlined an “orthodoxy and regulatory” approach for the future of conduct regulation – geared towards getting a fair deal for consumers.
Fitch: eurozone stress analysis concludes further rating actions unlikely
Fitch Ratings says that it does not expect to take any further rating actions on European insurers as a result of its most recently updated eurozone stress test analysis.
Japanese insurance giant plots merger
NKSJ Holdings, Japan's third-largest general insurer, is planning to merge its two main units, Sompo Japan and Nipponkoa Insurance, according to report.