News
Canopius submits 83 pence a share offer for Omega
Lloyd's isnurer Canopius has submitted an indicative proposal to the board of rival Omega to acquire the entire issued and to be issued ordinary share capital of Omega for cash consideration of 83.0 pence per share.
HSBC refuses to comment on non-life insurance sale
HSBC Holdings has declined to comment on speculation that it could be selling its $1bn non-life insurance business.
Mooted HSBC GI sale a sign of the times
HSBC’s mooted plan to sell its general insurance arm is part of a growing trend of banks “retrenching”, according to an analyst.
Hodges joins Towergate three weeks early
Mark Hodges has started work at intermediary giant Towergate today. He was due to start on 1 October as group CEO.
Auto Windscreens appointed as Admiral supplier
Admiral today announced that Auto Windscreens has been appointed as the firm’s preferred supplier of automotive glazing.
Allianz academy celebrates 10 years
Allianz Insurance has celebrated the 10 year anniversary of its underwriting academy, with a total of 5000 underwriters having completed the technical training and development programme.
AIR updates European wind and earthquake CAT models
Catastrophe risk modeling firm AIR Worldwide has released updates to its Extratropical Cyclone and Earthquake Models for Europe.
Biba relaunches website for members
The British Insurance Brokers’ Association has relaunched its website with more guidance for members and a new ‘Find a Broker’ search to promote insurance brokers to customers.
Gallagher Heath confirms Colosso sabatical
Gallgher Heath has confirmed that former Heath Lambert chief executive Adrian Colosso will be on sabbatical leave for “a number of months”.
Mark Byrne to take over at Omega
Bermuda insurer Haverford is to take a 25% stake in troubled Lloyd’s insurer Omega Insurance Holdings, with Haverford boss Mark Byrne taking the Omega chairman’s role.
Run-off restructuring expected, says PWC
Nearly two out of three run-off reinsurers and insurers believe Solvency II will force them to tackle underperforming lines of business, a PWC survey has found.
Torus poaches Gras from Howden
Torus Executive Risks has recruited Howard Gras as deputy professional indemnity manager in its financial lines team.
Lloyd's in danger of being left behind in marine if it fails to evolve
Lloyd’s of London market needs to keep pace with changes in the marine sector as it moves towards greater transparency, says leading shipping underwriter.
Perils says cat total exceeded $2.5bn
Zurich-based European catastrophe insurance data group Perils has revealed that its industry loss index since the beginning of 2010 has exceeded $2.5bn.
RSA appoints Dutch specialist to its board
RSA Insurance Group has appointed of Jos Streppel to its board as a Non-Executive Director as of 3 October 2011.
European insurers facing increasingly stricter regulatory frameworks
Regulatory, accounting and rating agency changes are occurring rapidly globally, albeit at a different pace by region.
Property lines remain volatile across Europe
Property lines remain substantially more volatile than other major lines across Europe, according to new research.
Eastern European markets key to Austrian insurers' prospects
Prospects for Austrian insurers are closely linked to insurance markets in Central Eastern and Southern Eastern Europe, where more than one-third of their premium income originates, according to a new report.
Brit wants faster marine claims
London’s shipping insurance market needs to improve claims handling to mirror tighter corporate governance measures in the global container shipping industry, Brit has warned.
Arista expands Birmingham office
Commercial lines underwriting specialist Arista Insurance has appointed Gemma Bradshaw as an underwriter its Birmingham office to grow its Midlands operations.
MSL offers brokers valuation surveys
Legal expenses and broker services company MSL Group has launched a valuation service for brokers to offer their clients.
RSA adds Jos Streppel as non-exec
RSA has named former Aegon chief finance officer Jos Streppel as a non-executive director from 3 October, 2011.
Travelers promotes Coello
Travelers has promoted Richard Coello (pictured) to the role of assistant general manager responsible for professional risks.
Willis warns rates may not harden
Broker Willis has warned that the soft reinsurance market that has persisted since 2004 could become the norm without further catastrophes forcing rates to harden.