News
Independent midwives seek cover ahead of legislation
An organisation representing independent midwives is in discussions with a broker over plans to secure affordable professional indemnity insurance, ahead of the launch of new legislation.
Bluefin Ebitda increases 27.5%
Bluefin Insurance has reported a 27.5% rise in Ebitda to £22.7m (2011: £17.8m) and a 54.3% pre-tax profit of £17.9m (2011: £11.6m).
PI law firm to expand after securing equity
A Scottish personal injury legal firm has received a "six-figure" loan from Clydesdale Bank with the view of doubling its office space.
Aviva to sell Russian life business for €35m
Aviva is selling its Russian life and pensions operation to Blagosostoyanie, a non-state pension fund in Russia, for a consideration of €35m (£30.17m).
Brit Insurance unveils Chinese intentions as post tax profit rises to £84.7m
Lloyd's insurer Brit has today announced it has developed "prudent options" to assess growth potential in China, to grow its specialty underwriting business "cautiously and profitably".
Aviva sells Russian life and pensions business to state insurer
Aviva today announced the sale of Aviva Russia to Blagosostoyanie, a non-state pension fund in Russia, for a consideration of €35m.
Esure confirms IPO intention as improved COR of 92.8% is chalked up
Esure chairman Peter Wood has this morning confirmed the intention of his firm to proceed with an initial public offering.
Brit COR improves to 93.2% in 2012
Brit has produced an operating profit of £113.6m for the full year 2012 (2011 restated: £68.4m) and an impoved combined ratio of 93.2% (2011 restated: 99.6%).
Iron ore ports close as Cyclone Rusty closes in on Australia
Cyclone Rusty is expected to bring a huge amount of rain to north west Australia and has already caused iron ore companies and ports to close.
AIA's profit hits $3bn
The Hong Kong listed insurer beat profit estimates of $2.7bn for the fiscal year ending 30 November 2012.
AIA to open office in Myanmar
Mark Tucker, the CEO of AIA, has confirmed the insurer is opening a representative office in Myanmar as AIA targets south east Asia.
QBE planning 700 job cuts: report
QBE will cut 700 jobs across its worldwide operations according to a report from a media briefing held by the insurer and reinsurer.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
RMS appoints former Apple marketing boss as chairman
Catastrophe modeller Risk Management Solutions has appointed a new chairman to replace Martin Morgan, chief executive of parent Daily Mail and General Trust.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
Kiln sees profit despite unprecedented levels of catastrophe
R J Kiln & Co, part of the Tokio Marine Group, has released the final results for its four non-aligned syndicates showing profits for the 2010 year of account.
Zurich places subordinated notes worth €788m
Zurich Insurance Group has successfully placed dated subordinated notes in an amount of €788m.
LV boss O'Roarke calls for "sanity" in 2013 motor market
LV general insurance managing director John O’Roarke is hopeful that "sanity" will be restored in the personal lines motor market in the year ahead and is predicting falling rates to pick up.
Guy Carpenter names head of European casualty strategy
Guy Carpenter has appointed Georg Fuelles head of European casualty strategy.
Mixed performance forecast for Kiln syndicates
Non-aligned Lloyd’s syndicates operated by Kiln have been hit by catastrophe losses as the insurer has updates forecasts for years of account from 2010 onwards.
QBE unveils cost-cutting plan as Burns takes group CFO role
QBE Europe chief executive Steven Burns is to relocate to Australia to take over from Neil Drabsch as group chief financial officer.
QBE European premium up 6% to £3.2bn
QBE has reported an 8% rise in net profit after tax to US$761m (2011: $704m) in 2012, while insurance profit was up 16% to $1.26bn (2011: $1.08bn) supported by a strong investment result.
Covéa expands Riskstop partnership
Covéa Insurance has renewed a deal for Riskstop to carry out site surveys and manage implementation of risk improvements.
Tokio Marine Europe strengthens underwriting capabilities
Tokio Marine Europe Insurance has appointed two underwriters to further strengthen its UK team.