News
Towergate subsidiary CCV snaps up Norwich-based broker
Towergate-owned Cullum Capital Ventures has acquired Waveney Insurance Brokers and its two subsidiary companies Waveney Insurance Brokers Commercial and Waveney Group Schemes.
Towers Watson appoints MD of European risk consulting
Towers Watson has named Michael Murphy as managing director of its risk consulting and software business in Europe, the Middle East and Africa, with immediate effect.
Norgrove elected president of Insurance Institute of Ireland
Zurich Insurance chief executive Ken Norgrove is to take the reins at the Insurance Institute of Ireland.
Liberty Europe adds warranty & indemnity and litigation buy-out cover
The financial lines division of Liberty International Underwriters Europe, part of Liberty Mutual Insurance Group, has launched a warranty and indemnity policy and a litigation buy-out policy.
Brokerbility signs first Scottish member
Brokerbility has signed up its first Scottish broker with Ayr-based MacKay Corporate joining its ranks.
Top five European news stories
The top five stories from www.insuranceinsight.com over the past seven days,
Capita and XL back Lloyd's-based Shariah-compliant start-up
A Shariah-compliant underwriting agency has been launched in the London market with the financial backing of Capita and the Bank of London & Middle East, and capacity provided by XL.
Bluefin Professions unveils quartet of hires
Bluefin Professions has made four appointments in the form of broking director Bobby Payne, account manager Adam Burton and account brokers Nick Wakefield and Alison Pugsley.
Perils provides data for Italian earthquake and flood
Independent catastrophe data provider Perils has extended its coverage to include data for Italian earthquake and flood perils.
Fewer claims help Munich Re in Q1 results
Reinsurer Munich Re's profits rose 20% to €979m in the first quarter of 2013 compared to the same period in 2012.
Quindell revenue rises 904% in 2012
Quindell Portfolio has reported a 904% year-on-year increase in revenue to £137.6m (2011: £13.7m) while pre-tax profit increased by 915% to £41.2m (2011: £4.1m).
Hiscox UK reports Q1 GWP up 8.5%
Growth in luxury motor and professional indemnity business has seen Hiscox’s UK operation report improved gross written premiums for the first quarter of 2012, rising 8.5% on last year.
Dock workers in Hong Kong end strike
A 40-day strike in Hong Kong has ended with dock workers agreeing a pay increase of 9.8%.
Eruption from volcano in the Philippines kills five
Five climbers on the Mayon volcano are feared dead and seven are injured after rocks and ash exploded from the mountain in a sudden eruption.
UN warns on climate change after warm 2012
The World Meteorological Organization, a United Nations agency, has said that 2012 joined the ten previous years as one of the warmest - at ninth place - on record despite the cooling influence of La Niña.
Axa Q1 revenues grow 3%
Axa revenues grew 3% to €28.9bn ($37.8bn) in the first quarter of 2013.
Plexus Law to merge with Greenwoods
Defendant insurance firms Plexus Law and Greenwoods are expected to merge in a deal to be completed in mid-May.
New India Assurance warns over government Iran oil cover
The government owned insurer has warned that an energy insurance pool to cover oil imported from Iran might not be sufficient.
Indonesia's economy grows 6% in Q1
Indonesia, the largest economy in South East Asia grew at 6% in the first quarter of 2013.
Bangladesh building collapse death toll rises above 600
More than 620 dead bodies have been recovered after the horrific building collapse in Dhaka, Bangladesh.
Information needs drive better claims management, says DCS Global MD
The need for more sophisticated management information is putting claims management at the forefront on insurance business, according to Jon Sitwell, managing director of Asia Pacific at DCS Global.
Fire cuts exposing insurers warns IFIC
The insurance industry is being exposed by cuts to the UK’s fire and rescue services according to IFIC Forensics.
Portuguese state bank to shed insurance arm
The insurance arm of state-owned Portuguese bank Caixa Geral de Depositos is to be privatised by the end of the year. P
Insurers could be hamstrung by France's new consumer law
A new consumer protection law is set to give French insureds greater flexibility over policy cancellation.