News
Singapore's air pollution index at record high
The smog from forest fires in Indonesia is still engulfing Singapore leading to the city's air pollution index to reach a record high.
Insurance communications Bill passed in Australia
The Insurance Contracts Amendment Bill 2013 has passed through the Australia Senate. According to the Insurance Council of Australia, the Bill will help give insurers more certainty when communicating with customers electronically.
Hong Kong Confederation of Insurance Brokers celebrates 20 years
Last night the Hong Kong Confederation of Insurance Brokers celebrated 20 years as an organisation at a cocktail reception at the Shangri-La hotel in Hong Kong.
Driving overseas expansion is major concern for insurance execs
Driving overseas expansion is a major concern for insurance executives, according to a survey conducted by the Economist Intelligence Unit on behalf of research firm State Street.
IASB Insurance Contract proposals are welcome starting point
The revised draft of the International Accounting Standards Board’s Insurance contract proposals goes a long way towards addressing the concerns raised by insurers since the original draft in 2010, Insurance Europe said today.
One Answer Insurance to open high street branch
One Answer Insurance is planning on opening a high street branch in Polegate, East Sussex in a bid to reiterate its commitment to remaining a local broker.
IASB revised exposure draft is "major milestone" for insurers
The publication of the International Accounting Standards Board’s revised exposure draft marks major milestone toward global reporting consistency for insurers, according to consultancies PwC and Ernst & Young.
Legal & General strikes deal with Tesco Compare
Legal & General has signed a deal to provide home insurance on Tesco Compare’s panel from June 2013.
McKinsey and Telefonica to address inaugral insurance and data analytics conference
Speakers from Telefonica and McKinsey & Company will open and close the inaugral Post Insurance and Data Analytics conference in July.
Keoghs appoints seven partners and promotes 23 associates
Keogh’s has appointed seven new partners and promoted 23 individuals to an associate position, taking the number of staff at the law firm’s seven UK offices up to almost 1200.
IASB insurance contract rules “a new world” for insurance
New rules on the accounting of insurance contracts represent fundamental change according to consultancies.
EU collective redress mechanisms open to abuse says Ferma
The collective redress mechanisms recommended by the European Commission could be an open door for abuse according to market insiders.
Liberty Mutual Europe to lead new aviation consortium
Liberty Mutual Insurance Europe is forming a consortium to underwrite Aviation Insurance in a leading capacity, on behalf of itself, Ace Global Markets and Hiscox.
Market looks to politicians to overcome Dutch flood stalemate
The Dutch Minister of Infrastructure and Environment plans to intervene in the flood debate raging in the Netherlands in a bid to overcome the current stalemate.
Rospa teams up with Sportscover to improve sporting safety
The Royal Society for the Prevention of Accidents has partnered with Sportscover in a bid to boost safety across the UK’s sport and leisure industry.
Marsh continues African expansion with Nigerian broker deal
Marsh has completed its acquisition of Alexander Forbes’ interest in Nigerian insurance broker Femi Johnson & Company.
Willis urges policyholders to keep terrorism cover up-to-date
James Hill, divisional director, financial solutions, Asia at Willis has warned the broker is still finding companies with out of date terrorism/sabotage policies.
Liberty Mutual forms aviation consortium with Ace & Hiscox
Liberty Mutual Insurance Europe is to work with Ace Global Markets and Hiscox in a consortium for aviation cover.
Costs of Australia's disasters could triple by 2050
Costs of natural catastrophes in Australia could rise from A$6.3bn to A$23bn by 2050 as population density and storms increase according to a new white paper.
Oval boosts EBITDA by 15% in 2012
Oval has recorded a 15% rise from £15m to £17.3m in its EBITDA for the year ending 31 May.
Argenta strengthens board with internal appointments
Argenta Holdings has appointed Graham Allen and Ian Maguire to its board of directors.
Dwindling reserves could put pressure on profitability says Moody's
The pace of reserve releases for non-life European insurers will continue to slow into 2013 as the effects of the general market downturn from 2005-09 continue to play out, according to Moody's.
UK banks told to raise £27bn
Figures from the Bank of England’s financial policy committee show a shortfall of £27.1bn in capital held by five UK financial institutions, half of which were at Royal Bank of Scotland.
German floods could cost insurers €5.8bn
Historic floods in Germany are likely to generate insured losses of between €4bn and €5.8bn, according to catastrophe modeller AIR.