News
New Indian insurer receives licence
Indian engineering giant Larsen & Toubro’s new general insurance company is due to start operations after receiving a licence from the regulatory authority for commencing its business operations.
Allianz publishes CSR report
Allianz has published its first annual corporate social responsibility report.
Octagon added to Compare the Market panel
Motor insurer Octagon has joined the panel of aggregator Compare the Market.
Equity wins Mazda deal
Equity Direct Broking has landed a three-year deal with Mazda UK to run its car insurance scheme.
AIG names ex-Pru chief head of AIA ahead of listing
AIG has named former Prudential chief executive Mark Tucker as head of its Asia life insurance business, AIA, and said it would seek to list AIA on the Hong Kong stock exchange.
QBE appoints Scotland boss
QBE has appointed Maureen Robertson as commercial manager, leading its business in Scotland.
Belarusian B&B Insurance downgraded by AM Best
Balarus-based B&B Insurance Co, OJSI has had its financial strength rating downgraded to C (weak) from C++ (marginal) and the insurer credit rating reduced to ‘ccc+’ from ‘b+’, by ratings agency AM Best.
Experian reveals drop in insolvencies
The latest Insolvency Index by Experian, has revealed a year-on-year decline in business insolvencies during June.
Oak forms alliance with Westinsure
High net worth specialist Oak Underwriting has agreed a deal with Westinsure Group to provide high net worth expertise to its UK network of independent brokers.
Belarusian B&B Insurance downgraded by AM Best
Balarus-based B&B Insurance Co, OJSI has had its financial strength rating downgraded to C (weak) from C++ (marginal) and the insurer credit rating reduced to ‘ccc+’ from ‘b+’, by ratings agency AM Best.
ABI DG Kelly jumped before she was pushed claims board member
The Association of British Insurers would have been forced to sack its former director general Kerrie Kelly if she had not resigned.
Motor premiums tipped for 50% jump in two years by AA insurance boss
Fraud is helping to push car insurance premiums up at their fastest-ever rate, according to the latest AA British Insurance Premium Index.
BLG poised for Halliwells' insurance team swoop
Barlow Lyde & Gilbert's partners have backed the proposed deal to acquire Halliwells' insurance team, according to Post's sister title Legal Week.
Lloyd's insurer opens Argentina office
Chaucer has opened a new office in Buenos Aires, Argentina, to access facultative property and related risks in Latin America on behalf of Chaucer Syndicate 1084.
Insurance industry urged to take up the professionalism challenge
The insurance industry was challenged to embrace professionalism, and in particular to embrace the Aldermanbury Declaration at the British Insurance Awards 2010 last week.
Consumers weigh up cost of cover
Price remains the key priority for non-life insurance customers, according to Deloitte’s third annual insurance survey.
Total issues Buncefield apology following £3.6m fine
Oil company Total has issued an apology for its part in the Buncefiled explosion after it was fined £3.6m plus costs in a Health and Safety Executive and Environment Agency prosecution.
Fitch: QIS5 unlikley to impact insurer ratings
Fitch Ratings said today that the final quantitative impact study QIS5 specifications do not materially alter Fitch's view on the likely impact of Solvency II on its insurance ratings.
Lloyd's welcomes US bill as step towards Solvency II harmonisation
Lloyd's welcomed the passage of the Dodd-Frank financial reform bill through the Senate yesterday.
Post Europe’s weekly update is now live
This latest initiative from the team behind the UK's market-leading general insurance weekly Post is dedicated to the European general insurance market and we will be providing news, analysis, comment and features focused on different territories.
SRA confirms tough new stance on Assigned Risks Pool
The board of the Solicitors’ Regulation Authority has approved a strategy for the enhanced control of the Assigned Risks Pool that provides indemnity for solicitors’ firms that struggle to obtain insurance in the market.
Euro bounces back after four year low
The euro has today gained over 10 cents against the USD, taking it to 1.2986. The rise follows the euro hitting a 4 year low in June.
Fitch: QIS5 unlikley to impact insurer ratings
Fitch Ratings said today that the final quantitative impact study QIS5 specifications do not materially alter Fitch's view on the likely impact of Solvency II on its insurance ratings.
Lloyd's welcomes US bill as step towards Solvency II harmonisation
Lloyd's welcomed the passage of the Dodd-Frank financial reform bill through the Senate yesterday.