News
ING sells stake in Indian life insurer
ING has sold its 26% stake in ING Vysya Life Insurance to its joint venture partner Exide Industries.
Drivers court danger to save cash
Nearly 30% of drivers were found to delay servicing their vehicle to save money, with 33% sparing costs to such extent that they could be putting themselves or other drivers in danger.
Motorists found to be more reckless when driving a van
Motorists are more likely to commit traffic offences and be involved in accidents when behind the wheel of a van.
Insurers upgrade Sahel risk forecast following hostage situation
The potential spread of Islamic terrorism from Mauritania in the West to the Horn of Africa in the East has become a profound threat to security, livelihoods and stability in the Sahel, according to Special Contingency Risks.
Keeling appointed NED at RFIB as Dandridge departs
International Lloyd’s insurance and reinsurance broker RFIB has appointed Henry Keeling as a non-executive director.
RSA strengthens global specialty lines team
RSA has appointed Tony Chaudhry as Europe director for its global specialty lines business.
Vienna Insurance Group sees premium growth of 9.5%
Vienna Insurance Group posted 9.5% premium growth in the in its preliminary full year results for 2012, published today.
16% of SMEs fear collapse in 2013: Zurich
More than 15% of SMEs perceive themselves to be at high risk of going out of business this year according to a survey by Zurich and YouGov.
Pressure mounting on government as MP brands flood talks 'in disarray'
Ministers have been forced to reiterate that flood talks between the government and the Association of British Insurers are ongoing after a member of parliament claimed discussions were “in disarray”.
European insurers look to exit run-off business
The trend of insurers looking to exit their legacy business is likely to continue over the next 12 months according to Pricewaterhouse Coopers.
L&G targets HNW customers with new home insurance product
Legal & General has followed up on its vow to expand the range of personal lines products it offers, by launching a bespoke product designed for customers in the mid and high net worth market.
Regulators issue guidance to avoid another PPI scandal
The UK Financial Services Authority and the Office of Fair Trading have jointly published guidance to help design a new generation of payment protection insurance products.
Claims cost European insurers €930bn in 2011
A total of €930bn in claims was paid out by the European insurance sector in 2011 – a 7.5% increase on 2010, figures from Insurance Europe have revealed.
PZU could see profits drop PLN400m if interest rate cut
Poland's largest insurer Powszechny Zaklad Ubezpieczen S.A. has said its net profit could fall by 400m zlotys (€95.4m) if the country's key interest rate declines further.
India's middle class boom not confined to megacities
Firms looking to supply goods and services to India’s growing middle classes should not ignore those in smaller towns and cities, according to Ambitabh Kundu, Professor of Economics, Jawakarlal Nehru university.
Tokio Marine targets EMEA large commercial property market
Tokio Marine’s corporate property business operation is to expand its EMEA focus, providing capacity for the insurance group’s European operation.
Cyber risks worries grow but few seek cover
More than three-quarters of organisations have grown concerned about digital securities, yet only 19% of these have taken steps to secure the necessary insurance cover, Zurich research has revealed.
Insured losses 36% above 10-year-average in 2012
Natural catastrophes globally caused total economic losses of £200bn in 2012, only slightly above the 10-year-average of $187bn.
2012 insured losses 36% above 10 year average: Aon Benfield
Last year’s insured losses soared almost a third higher than the 10 year average for insured losses according to Aon Benfield’s catastrophe modeling centre, Impact Forecasting.
Xuber launches claims software
Xchanging’s insurance software provider, Xuber, has launched Xuber Claims, a fully integrated claims management solution.
SRA embraces referral fees ban for PI cases
The Solicitors Regulation Authority board will amend the Solicitors Code of Conduction to incorporate the ban on referral fees in personal injury cases.
JBA enters flood debate with new model launch
JBA Risk Management has joined the UK insurance industry flood debate after releasing a new model of the built environment designed to help property owners better understand the risks to homes, offices and business premises.
Standard and Poor's commends Generali management strategy
Standard & Poor's has affirmed the 'A' long-term counterparty credit and insurer financial strength ratings of Italy-based Assicurazioni Generali and its "core" subsidiaries'.
Ecclesiastical CEO Tripp to retire this year
Ecclesiastical chief executive Michael Tripp has announced his intention to retire from his post during the course of 2013.