News
No restrictions on Mecca pilgrimage despite coronavirus
The World Health Organisation is advising pilgrims to wear a mask at Mecca during Ramadan, but the Saudi Arabian government has no travel restrictions in place.
SAP rolls out IFRS4 accounting software
SAP has launched an integrated finance and risk software application to help insurers with the upcoming accounting standards for insurance contracts, International Financial Reporting Standards 4, and Solvency II.
Sompo Japan expands presence in Brazil
Japanese general insurer Sompo Japan has raised its stake in Sao Paulo-based Maritima Seguros to 87% from 50% through its subsidiary Yasuda Seguros.
EU moves step closer to US-style class actions
The European Commission has said Europe is not heading for US-style class action lawsuits, despite recommending the establishment of collective redress mechanisms in European Union member states.
Airmic 2013: British risk managers urged to engage with Ferma
Airmic members should work more closely with the Federation of European Risk Managers, board member Julia Graham said today.
Post Audio Supplement - 13 June 2013
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Bahrain-based Trust Re bolsters capital as it seeks new growth opportunities
Trust Re announced today an increase in its paid up capital, from US$ 100m to US$ 140m, and an increase in its authorised capital to US$200m.
Swiss Re warns of $44bn loss scenario from Chinese flood and storm surge
With its large economy and over half of its manufacturing centres exposed to flood risk, China represents a much bigger risk to insurers than Thailand, according to a new report from Swiss Re.
Insurance buyers warned of "lone wolf" attacks as terrorism threat changes
Several of the world’s long-established terrorism insurance schemes were set up to deal with a different terrorism threat than is predominant today, according to a new technical guide produced by Airmic, in collaboration with Willis.
Wood steps down as UK MD as Ecclesiastical reveals management shake-up
Ecclesiastical has unveiled a host of changes to its management structure and leadership team, which has seen the group’s UK general insurance managing director Steve Wood exit the firm.
Charles Taylor targeting UK adjusting growth
Charles Taylor is looking to expand adjusting operations in the UK company market group, chief executive David Marock told Post today.
Esure to be confirmed as FTSE 250 member
Esure is expected to be confirmed as a member of the FTSE 250 at the index series’ quarterly review this evening.
Hertz buys accident management firm CCL
UK Car rental giant Hertz has entered the UK replacement vehicle market with the acquisition of Dorset-based accident management provider CCL.
Accenture reports 10% rise in fraudulent insurance claims in three years
More than two-thirds (71%) of claims executives at European property and casualty insurance companies have seen an increase in the number of fraudulent claims over the past three years, according to Accenture.
Accenture finds fraudulent insurance claims rise 10% in three years
More than two-thirds (71%) of claims executives at European property and casualty insurance companies have seen an increase in the number of fraudulent claims over the past three years, according to Accenture.
Towergate names Ryan Brown as its new M&A director
Towergate has moved to replace Davies-bound Dan Saulter with the appointment of Ryan Brown as M&A director.
Giles CFO blames ownership structure for debt increase as backer seeks sale
Analyst confident potential buyers won’t be put off by financial results
Integro confirms departure of international division bosses
Integro has confirmed the departure of the co-heads of its international division Ron Whyte and Julian Samengo-Turner.
Anti-fraud software could lead to 3% combined ratio reduction
A software firm claims it can reduce UK insurers’ combined operating ratios by up to 3% by tackling motor and liability insurance fraud with predictive analytics.
Insurers split over police’s burglary notification plan
Scheme developed to help reduce victims of crime
Generali CEO Greco says it is still interested in Latin America despite Mexican disposals
The Generali Group has signed an agreement with Grupo Financiero Banorte to sell its 49% minority stakes in the Mexican companies Seguros Banorte Generali and Pensiones Banorte Generali for a total gross consideration of $857.5m (€649m).
European non-life premiums up 3% in 2012 to €459bn
New figures published today by Insurance Europe show a provisional increase in total European gross written premiums of 1.6% at constant exchange rates in 2012. This follows a decline in premiums of over 2% in 2011.
Lords: Independent body must oversee mesothelioma compensation scheme
Labour MPs criticise unfair start date that excludes half of all sufferers
Randall & Quilter upbeat ahead of AGM
Randall & Quilter's first half financial result is expected to be in line with the board's expectations, according to chairman and chief executive Ken Randall.