News
IAG on track to meet FY12 guidance
Insurance Australia Group managing director and CEO, Mike Wilkins, advised shareholders at the company's annual general meeting that it was on track to deliver its results guidance for the 2012 financial year.
Ruling “sting in the tail” for insureds
Michael Frisby, partner in the dispute resolution team at law firm Stevens & Bolton has commented on a test case which has opened up the possibility of legal expenses policyholders choosing their own solicitors.
Ruling puts paid to ‘cash-cow’ legal expenses insurers
A test case in the High Court has opened up the possibility of legal expenses policyholders choosing their own solicitors.
Clayden and Egan land new Aviva roles
Dominic Clayden and Sean Egan have been handed new executive level positions at Aviva.
Muir calls for better motor insurance PR
Paul Muir, managing director of broker club One Answer Network, has called on motor insurers and brokers to be honest and open with the public to improve the industry’s image.
Dublin City activates emergency flood plan
A major emergency has been declared in the Irish capital Dublin after severe flooding hit the city.
Global insurers restricted in Ireland after downgrade
Allianz, Aviva and RSA Insurance have been restricted from providing cover for Irish state companies because Ireland has been demoted by credit rating agencies.
R&Q gets £30m bank takeover fund
Randall & Quilter has completed a £30m funding package with Clydesdale Bank Corporate and Structured Finance to fund future acquisitions.
Earthquakes call into question building code enforcement in Turkey
The Turkish government introduced new construction codes following the 1999 earthquake, but there are fears these may not have been enforced.
Chubb Europe makes UK & Ireland appointment
Chubb Insurance Company of Europe has appointed Jon Nottingham, sales and marketing manager UK & Ireland.
Turkish Catastrophe Insurance Pool only covers 7% of homes in earthquake zone
The Turkish Catastrophe Insurance Pool has low penetration in the Van region, which was hit by an earthquake this weekend, according to RMS.
Groupama sacks CEO Jean Azéma
Groupama has sacked its CEO Jean Azéma who has been blamed for the company’s credit rating downgrade.
Ellis Clowes makes senior appointment
Specialist Lloyds insurance broker, Ellis Clowes & Company, has hired Karen Woodley as commercial director of the group and board director of Ellis Clowes (commercial).
Willis sees double-digit organic growth in Eastern Europe for Q3
Willis has reported net income for the third quarter of 2011 of $60m with Eastern and continental Europe seeing organic growth.
Canadian EGI acquires controlling stake in Danish insurer
EGI Financial Holdings has acquired a controlling interest in QIC Holdings ApS, a Danish holding company with a wholly-owned subsidiary, Qudos Insurance, a newly-incorporated insurance company, based in Denmark.
Care homes group chooses Howden
The English Community Care Association (ECCA) has appointed Howden Insurance Brokers as preferred supplier of insurance services to its care home members.
$3bn Thai flood losses set to escalate as city centre inundation begins
Loss adjusters have told Post there is a “whiff of Katrina” about the Thailand floods, following predictions the disaster could cost more than the estimated $3.3bn (£2.1bn) insured losses.
Gcube covers Italy’s biggest wind farm
Renewable energy project underwriter Gcube has been selected by Nsure to underwrite Italy’s largest wind power project, the Falck Renewables Buddus - Al dei Sardi wind farm.
Turkey quake to cost as much as $200m
Catastrophe risk modelling firm Equecat has said the insured loss estimate for the 7.2 magnitude earthquake in eastern Turkey is in the range of $100m to $200m.
Willis says UK business dipped in Q3
A fall in the UK and Ireland market contributed to Willis reporting a Q3 operating margin down to 11.8% from 14.5% for the same period last year.
MIB supports the met in major crackdown
Following a major operation to target uninsured drivers and disrupt criminal activity in London on 19 October, the Motor Insurers’ Bureau has taken the highest number of calls to their dedicated police helpline since it was started in 2007.
Willis Group appoints new CEO and president
Global broker Willis Group has appointed Daniel Wilkinson as the new CEO of Willis United Kingdom & Ireland.
Willis names Wilkinson as UK head
Willis has named long-serving executive Daniel Wilkinson, pictured, as chief executive for Willis United Kingdom and Ireland, following the departure of Brendan McManus last week.
Terrorists to carry out only small attacks
Catastrophe risk modelling firm AIR Worldwide says terrorists can only carry out smaller scale attacks with less powerful weapons carried by worse-trained operatives, reducing the terrorist risks faced by the US.