News
Fitch cuts Axa IFS outlook from stable to negative
Concerns about Axa's ability to improve profitability were cited for the move by Fitch Ratings to revise the outlook of the firm’s Insurer Financial Strength rating from stable to negative.
Bluefin delivers £11.5m dividend to Axa
Bluefin has paid its parent company an £11.5m dividend for the 2011 financial year on Ebitda of £17.8m (2010: £15.2m) and pre-tax profit of £11.6m (2010: £10m).
RKHIS opens Sevenoaks office
RK Harrison Insurance Services has opened a new regional office in Kent that will specialise in private client and rural business.
Dual wins new capacity providers
Liberty and Barbican will become capacity providers for Dual International's financial lines portfolio from next month, following in the footsteps of Arch, Hiscox and Mitsui Sumitomo.
Mondial to trade under Allianz brand
Mondial Assistance UK is changing its trading name to Allianz Global Assistance, aligning the brand with parent the Allianz Group.
Tawa sells reinsurance businesses
UK insurer Tawa is to sell 100% of its shares in KX Reinsurance and its subsidiary OX Re to Catalina for a maximum of $30m.
Ping An files Belgian arbitration claim
China's second largest insurer, Ping An, has filed an international arbitration claim against Belgium in a bid to reclaim losses from an investment in Fortis.
AA calls for government action on flood protection
Recent government statements concerning the availability of affordable flood cover when the Statement of Principles expires in June have "not given much ground for confidence", according to AA Insurance director Simon Douglas.
Education key to lowering young drivers' premiums, says DLG
Direct Line's managing director of retail personal lines has called for a greater focus on education and responsibility before motor premiums can fall.
Dual adds Liberty and Barbican to capacity provider list
Liberty and Barbican are to join Arch, Hiscox and Mitsui Sumitomo Insurance as capacity providers for Dual International's global financial lines portfolio from 1 October 2012.
Browne Jacobson appoints professional indemnity partner
The insurance sector specialist law firm has appointed Michael Howard to its professional indemnity team in London.
Flood warnings raised as weather worsens
Heavy rainfall has prompted the UK's Environment Agency to raise the number of flood warnings to 21.
Airmic members back commercial insurance law overhaul
The vast majority of Airmic members have backed the risk manager association's support for reforming the legal framework for commercial insurance - the 1906 Marine Insurance Act.
Hastings raids RSA and Ace for fresh managerial talent
Hastings Insurance Services has completed the double swoop for former head of affinity operations at RSA Paul Whymark, pictured, and ex-Ace continental Europe claims director Jonathan Sutcliffe.
Discount rate: Lord Chancellor likely to adopt mixed portfolio option
The Lord Chancellor is expected to opt for the “mixed portfolio option” when setting the discount rate for personal injury damages once the consultation finishes in October.
WR Berkley España appoints new president
WR Berkley Corporation has promoted Alejandro Jiménez to executive chairman of WR Berkley Insurance (Europe) Limited Sucursal En España.
Munich Re considers ILS fund
Munich Re may launch a fund to allow investors to buy catastrophe bonds and other insurance linked securities to meet the growing demand for instruments linked to natural disasters.
DLG names Aspen chairman and RBS corporate CEO as directors
Direct Line Group has appointed Glyn Jones and Mark Catton as a senior independent director and non-executive director, effective immediately.
German health insurance system to post surplus for 2012
The Bundesbank expects Germany's public health insurance system to record a significant surplus again this year, according to the website of Deutsche Börse Group.
Haagen replaces Karner as AGCS aviation head
Allianz Global Corporate & Specialty has appointed Henning Haagen as global head of aviation for its European, Middle East and Asia and Asia Pacific divisions.
Crawford receiving flood claims after weekend rain
Crawford & Company has started to receive flood and storm claims from the weekend's wet weather.
Towergate eyes e-trading push with hire of ex-NIG manager
Towergate Underwriting has appointed former NIG e-commerce boss Dean Fletcher as commercial e-strategy and products manager.
Gallagher expands public sector offering with Acumus acquisition
Arthur J Gallagher International has acquired housing association specialist intermediary Acumus for an undisclosed sum.
Bluefin launches schemes and affinities division
Bluefin Insurance Group has unveiled Bluefin Solutions, a division focusing on the development and distribution of new and existing schemes and affinities.