News
Amlin set to establish Swiss reinsurer
Amlin is to establish a reinsurance company in Switzerland to provide European reinsurance buyers with Amlin`s first-class security and service delivery.
XL reports 100.5% combined ratio
XL Capital's property & casualty business has reported a 100.5% (Q1 2009: 92.1%)combined ratio in the first quarter of 2010.
EC to delay Solvency II implementation to coincide with financial years
The European Commission is set to delay the implementation of the Solvency II directive by two months for accounting purposes.
Coverzones backer MMA "saddened" by its closure
MMA-backed commercial insurance aggregator Coverzones has shut up shop less than two years after it commenced trading in June 2008.
EC to delay Solvency II implementation to coincide with financial years
The European Commission is set to delay the implementation of the Solvency II directive by two months for accounting purposes.
ABI estimates £62m payout from volcanic ash disruption
The Association of British Insurers has said that the cost of volcanic ash disruption to travel insurers between the 15 – 21 April is likely to reach £62m.
Willis Risk Solutions adds to senior team
Willis has confirmed George Haitsch has been appointed as practice leader for Willis Risk Solutions, the business unit that serves the broker’s large, complex corporate clients in North America.
MMC chief content with insurance arm in light of soft market
Marsh & McLennan Companies has reported that consolidated revenue in the first quarter of 2010 rose 7 percent to $2.8bn from Q1 2009 and was flat on an underlying basis.
Insurance launched for misfuelling drivers
Complectus has developed a new ‘Misfuelling Insurance’ product with Axa Assistance to get drivers back on the road in the event they misfuel their vehicle.
Apil calls for action on EL claims
A new system for providing compensation for sick and dying workers must be a top priority for the next government, according to the Association of Personal Injury Lawyers.
Lloyds to build on HBoS ties with new long term agreement
Lloyds Banking Group has appointed Munters MCS to provide property damage restoration services for its domestic insurance customers in a long term agreement.
CEA boss outlines concerns to Commission public hearing
The CEA, the European insurance and reinsurance federation, today reiterated its support for the EU’s new Solvency II regulatory regime but called for more work to be done on the Level 2 measures that will put the flesh on the bones of the Framework…
Over fifties insurance provider to recruit 70 for new base
Over fifties insurance provider Staysure is aiming to double its turnover in 12 months with a new base.
Max Capital puts low cat loss down to "conservative underwriting"
Max Capital has reported net income of $36.4m for the quarter ended 31 March, compared to net income of $44.5m for Q1 2009.
CEA boss outlines concerns to Commission public hearing
The CEA, the European insurance and reinsurance federation, today reiterated its support for the EU’s new Solvency II regulatory regime but called for more work to be done on the Level 2 measures that will put the flesh on the bones of the Framework…
Endurance Q1 results fall 28% on cat losses
Endurance Specialty Holdings reported a fall in first-quarter profit of more than 28%, after it suffered estimated losses of $65m from catastrophes.
CCV boss hails its M&A model as election uncertainty looms
Cullum Capital Ventures has acquired the general insurance portfolio of DTE Risk & Financial Management.
Online SME insurance specialist recruits new CEO from consumer sector
Online SME commercial insurance specialist Xbridge has appointed Jason Stockwood as its new CEO.
Job losses expected in wake of First City and AJG merger
A number of employees are set to lose their roles after Arthur J Gallagher’s takeover of First City, Reinsurance has learned.
Hannover Re non-life book hit by major losses
Hannover Re has reported what it described as "vigorous premium growth" in the first quarter of 2010.
Torus set to complete Glacier acquisition
Property and casualty insurer and reinsurer Torus has acquired Glacier Group subsidiary Glacier Insurance subject to regulatory approval.
PartnerRe president and CEO to retire
Patrick Thiele has decided to retire in December and will also step down from the board of directors.
Hannover Re non-life book hit by major losses
Hannover Re has reported what it described as "vigorous premium growth" in the first quarter of 2010.
Torus set to complete Glacier acquisition
Property and casualty insurer and reinsurer Torus has acquired Glacier Group subsidiary Glacier Insurance subject to regulatory approval.