News
Profits on the rise in Indonesia
The general insurance industry in Indonesia saw net profits rise 22% last year when compared to 2011.
Generali secures €2bn revolving credit facility
Italian insurer Generali has signed deal for up to €2bn in revolving credit facilities, in a bid to improve its “flexibility to manage future liquidity needs in a volatile environment”.
Zurich opens commercial insurance premiums books
Zurich has launched a guide for brokers to help explain how premiums, profits and losses are calculated.
Eqecat and RMS finalise data sharing scheme
Rival catastrophe modelling firms Eqecat and Risk Management Solutions have finalized an agreement to share exposure data schemas.
Oak MD Trott to retire
Bob Trott, who has led Oak Underwriting since 2003, is to retire at the end of June, with RSA personal lines broker MD Jill White set to temporarily replace him.
Brokerbility’s Ashwin Mistry set to take CII helm in 2014
Ashwin Mistry is set to become president of the Chartered Insurance Institute (CII) in 2014, Post’s sister title Insurance Age has revealed.
Search for independent midwives PI cover at Lloyd's 'a non-starter'
Independent midwives in search of professional indemnity insurance have experienced a further setback after an attempt to track down underwriting capacity from the Lloyd’s market drew a blank.
Spain investigated by EC over health insurance card failures
The European Commission has demanded information from Spain over complaints that Spanish hospitals are refusing to honour the European Health Insurance Card scheme.
Over 50% of insurers lack proper conduct risk strategy
More than half of insurers do not have a clearly defined conduct risk strategy in place, a PWC survey found.
Are loss adjusters better off out of the IMD?
Earlier this week Post reported that the European Commission has excluded the direct regulation of loss adjusters and claims management firms from the second draft of the Insurance Mediation Directive.
EC investigates Spain for failing to honour EHIC scheme
The European Commission has demanded information from Spain over complaints that Spanish public hospitals are refusing to honour the European Health Insurance Card scheme.
Regional players may miss Solvency II deadline
Solvency II must be implemented in January 2016, whether or not the continent's smaller, regional are prepared, according to Charles Juniper, analyst at Ovum.
US affiliate tax is simply “revenue grab” says trade body
Trade bodies representing the European and Bermudian reinsurance community have condemned the US attempt to introduce a tax on affiliate reinsurance.
ABI blames Spanish hospitals for unnecessary travel insurance payouts
British holidaymakers in possession of a European Health Insurance Card are being urged not to accept refusal of state medical treatment in Spain.
Hiscox signs deal with Jelf
Hiscox has partnered with Jelf to supply for the broker’s management liability business.
Trimble tops the commercial fleet telematics leaderboard, claims survey
Telematics provider Trimble has been ranked top of ABI Research’s competitive assessment of the commercial fleet telematics industry, with Telogis and Omnitracs occupying second and third places respectively.
XL launches new products for Irish financial firms
XL Group has launched five new insurance products for financial institutions in Ireland, which they say address firm's reliance of on IT infrastructure for services and distribution.
Hardy names Bunting as claims head
Hardy Underwriting has appointed Matt Bunting as head of claims.
RMS estimates Oklahoma losses could reach $3.5bn
Risk Management Solutions has put insured losses from the Moore, Oklahoma tornado at $2bn to $3.5bn.
Aon France director joins Miller
Aon France has lost its head of political risks, Arnaud Froideval, to Miller where he has joined the marine team.
Philippines economy grows 7.8% in Q1
GDP growth of 7.8% beats analysts' expectations and last year's Q1 rate of 6.5%.
Singapore insurance workers can expect 5% pay rise in 2014, according to the Hay Group
According to management consultancy the Hay Group, insurance workers in Singapore can expect an average 5% pay rise next year.
Chinese to develop London's Royal Albert Docks
The Mayor of London Boris Johnson has signed a £1bn ($1.5bn) deal with Chinese developer Advanced Business Parks China Holding Group to renovate the Royal Albert Docks as a business district.
Miller adds French political risk specialist to marine team
Miller has added to its marine team with the hire of political risk production and broking specialist Arnaud Froideval.