News
RBSI bid rumours rubbished
Rumours of a £4bn CVC bid for RBSI are wide of the mark, market sources have told Post.
Thai floods: Central Bangkok spared
The worst of the Thailand flooding is over but insurers will have to pay “significantly large business interruption costs”, according to Fitch Ratings.
LIU Europe opens Hamburg branch
Liberty International Underwriters has opened a new branch in Hamburg, Germany as it seeks to become a competitive, niche player in the region.
Japanese, Swiss and Bermudian regimes largely equivalent to Solvency II, says Eiopa
The supervisory systems operating in Switzerland, Bermuda and Japan are largely equivalent to Solvency II, but not for all classes, according to the European Insurance and Occupational Pensions Authority.
Law firms Beachcroft and DAC merge
Beachcroft and Davies Arnold Cooper have merged to form DAC Beachcroft.
In conversation with RSA: distinguishing from rivals in SME commercial
The SME commercial market remains one of the most highly competitive in the UK insurance space.
AIR Worldwide launches multiple peril crop cover for China
Catastrophe risk modeling firm AIR Worldwide has launched a multiple peril crop insurance model for China.
Munich Re launches $100m cat bond
Munich Re has a $100m catastrophe bond to cover US hurricane and European windstorm risks.
Brokers Link growth takes it to $14bn
José Fonseca, chairman of Brokers Link, has told delegates at the Broker Network conference that new joiners in Israel, Indonesia, South Korea and the Caribbean had increased members’ managed premium to more than $14bn.
Brokers Link premium breaks $14bn with eight new members
Independent broker network Brokers Link has increased its members’ managed premium volumes to over $14bn with new representation in Israel, Indonesia, South Korea and Caribbean.
Earthquake magnitude 6.9 hits Peru
A magnitude 6.9 earthquake occurred near the coast of central Peru on Saturday at 18:54 UTC (1:54 pm local time)according to catastrophe modeling firm AIR Worldwide.
Homeserve review suspends sales calls
Homeserve has been forced to cease selling over the phone after a Deloitte investigation found “cases where its sales processes did not meet the company's required standards”.
Armed guards will help tackle pirates
Maritime security firm Haymarket Risk Management has welcomed Prime Minister David Cameron’s ruling that UK registered ships can carry armed guards to fight pirates.
Invicta completes Fountain buyout
Invicta Insurance Services will tomorrow (Tuesday 1 November) complete its latest acquisition, the household and property owners’ portfolios of Dorset broker Fountain Insurance & Investment Services.
Kennedys boss raises concerns over referral fee 'loophole'
Kennedys has warned that the proposed ban on referral fees, which is currently making its way through the House of Commons, includes a loophole that could allow referral arrangements in through the “back door”.
Standard & Poor upgrades Swiss Re to AA-
Standard & Poor has upgraded Swiss Re from A+ to AA- following the firm success in derisking its asset portfolio, convertible perpetual capital instrument with Berkshire Hathaway and stabilised its net income.
Greek debt exchange won't lead to insurance downgrades, says Fitch
Leading insurers across Europe have been told that manageable exposure to Greek government bonds will mean they will not be downgraded if they accept the EU's offer of a 50% haircut in return for new debt, according to Fitch Rating.
TGSL reports 24% growth for 2011
Insurance software house, Transactor Global Solutions reported turnover of £5.2m for 2011, an increase of 24% year on year.
NAO call on greater flood risk expertise at local level
The National Audit Office claim that local authorities must increase their technical expertise if they are to be given increased powers to identify flood risk and target investment.
Swiss Re upgraded to 'AA-'
Standard & Poor's Ratings has raised its long-term counterparty credit and insurer financial strength ratings on Swiss Re and its core subsidiaries to 'AA-' from 'A+'. The outlook on all of these entities is stable.
Aon reports 38% jump in profits for third quarter
Aon net revenue increased 38% to $198m (£122.8m) for the quarter ended 31 September 2011, compared to $144m for the previous year.
Greek non-motor loss adjusters launch professional body
Greek claims specialists have banded together to form The Hellenic Association of Loss Adjusters in the hope of gaining equal status with other certified European loss-adjusting bodies.
Insurance Insight weekly update live - 28 October
Insurance Insight's weekly update is live with an article on Pan-European and Global business interruption cover; and a View from the Top on how insurers must be as global as the firms they work with.
European fleet motor insurance poll results
Is European fleet still an attractive option for insurers?