News
Reinsurers reluctant to cover Thai cat fund
Global reinsurers may be reluctant to cover the recently announced Thai catastrophe fund if asked to by the nation’s government, according to market analysts.
Hiscox UK secures Corporate Chartered Insurer status
Specialist insurer Hiscox UK has been awarded Corporate Chartered Insurer status.
Insurance head Chris Collins passes away
Retired Gibraltar Financial Services Commission boss Chris Collins has passed away after a short illness.
Aon acquires 80% of Spanish broker GDS
Aon Corporation has agreed to acquire 80% of Spanish insurance broker GDS from banks La Caixa and Banca March.
Brit launches PI product on Power Place
Brit Insurance has launched its professional indemnity cover on Power Place, following last year’s decision to make its D&O product available on the online commercial marketplace.
LMA names Atkin as new chairman
The chief executive officer of Talbot Underwriting, Rupert Atkin, has been appointed as the new chairman of the Lloyd’s Market Association.
Thai cat fund could prove too costly for reinsurers
International reinsurers will have to be “seriously convinced” the Thailand government’s catastrophe fund is profitable if they are to insure it.
Travelers targets brokers with event cancellation cover expansion
Travelers has expanded its event cancellation cover from the firm’s Lloyd’s syndicate to its insurance company operation in a move which is expected to provide regional brokers with better access to the product.
Groupama UK CEO quashes MBO speculation
Groupama UK chief executive François-Xavier Boisseau has ruled out a management buyout.
Anti-metal theft bill scrapped
The private member’s bill to tighten the law on scrap metal dealers has been rejected.
Trio arrested for selling fake Groupama policies
The police fraud unit has arrested three individuals suspected of selling fraudulent policies under the Groupama name.
Time lapses on second reading of Straw’s motor bill
The order to read Jack Straw’s Motor Insurance Regulation Bill a second time has lapsed.
Vienna Group expects €560m profit for 2011
Vienna Insurance Group estimates that it will have profit before taxes of €560m in 2011, the best result in the group’s corporate history.
Solvency II run-off concerns still not met
The Solvency II exemption for run-off companies fails to meet the expectations of many in the industry, according to run-off specialist Ruxley Ventures.
Jubilee says regulators thwart better PPI
Jubilee says insurers are being put off creating payment protection insurance products because of uncertainty following reviews by regulators.
Questgates completes minor recruitment drive
Growing demand is behind a minor recruitment drive at Questgates. The company has made four new appointments and promoted two.
Bermuda’s Premier Cox signs tax agreement with Turkey
Bermuda has signed a tax information exchange agreement with the government of the Republic of Turkey.
Law firm sale hinges on SRA approval
Solicitors Regulation Authority approval is required before one of the first law firm takeovers can go ahead.
Legal cover firm creates online broker portal
A motor and family legal cover provider has launched a free online portal which allows brokers to browse policies and documents on 50 types of commercial and personal lines cover.
SSP’s Whiting promotion targets MGAs
Insurance technology provider SSP is to target the growing managing general agents business and has promoted Nick Whiting to the role of business development manager within its insurer division to head up its campaign.
Ace recruits communications head from HSBC
Global reinsurer Ace has appointed Darragh Gray as director of communications and marketing for its Europe, Middle East and North Africa operations.
Cyclists urged to support Allianz-backed bike ride
The Prince’s Trust has announced that its Palace to Palace cycle ride will be coming to the West Midlands for the first time.
Bluefin centralisation to cost 23 jobs
Bluefin is proposing to close the finance functions of its Gravesend and West Wickham offices with the loss of 23 jobs.
CNA names London property underwriting manager
CNA Insurance has promoted Steve O’Riordan, pictured, to be underwriting manager for London property.