News
FM Global targets Asian expansion
FM Global wants to grow its presence in Asia as increasing numbers of its clients invest in emerging economies, according to the firm's head of Northern Europe Stefano Tranquillo.
'Modest recovery' on the horizon for brokers globally
The outlook for the global insurance brokerage sector remains stable, underpinned by expectations for a modest economic recovery in 2012-2013, Moody's said in its recent Global Insurance Brokerage Outlook.
UK ABI backs government decision to omit industry from Equality Act
The Association of British Insurers has thrown its support behind a Home Office announcement that imminent discrimination laws will not apply to the insurance industry.
Churchill profit jumps 246% to £77.6m
Direct Line Group-owned Churchill Insurance posted £77.6m profit in 2011, a vast improvement on the 2010 £53.3m loss, while personal motor premiums fell by £1bn.
AIRMIC 2012: Risk managers want outcomes-based policies
Risk managers want policies based on outcomes not perils, according to Prudential's group insurance risk manager Helen Hayden.
Chartis increases property capacity to $1.5bn
Chartis, the property and casualty arm of US insurer AIG, has increased its commercial property capacity to $1.5bn per risk globally.
NIG reports 103% combined ratio and £494m income in 2011
Annual results for NIG for 2011 have revealed that net earned premium revenue fell by £235.8m to £413.1m compared with 2010.
Italy and UK to lead demand for telematics
The number of insurance telematics users in Europe will grow from 1.5 million in 2010 to 44 million in 2017, initially driven by the UK and Italy according to research.
CFC boss targets UK focus and management liability push
CFC Underwriting will look to "break out of its comfort zone" and concentrate on becoming a full service provider with a renewed focus on bolstering its management liability offering.
German financial watchdog on the hunt for new insurance head
Germany's financial regulator Bafin is seeking a new head of insurance supervision following Gabriele Hahn's move to a new role after only 18 months in the job.
Willis appoints Asia FINEX head
Willis has appointed Tony Mitchell as regional head of the firm's financial, executive risk and professional liability business in Asia-Pacific, in response to the increasing exposures faced by executives of companies expanding globally.
Nordic insurers will need bigger investment adjustments under Solvency II
Nordic insurers will need to make bigger adjustments to investment portfolios because of the likely requirements of Solvency II, according to Fitch.
Jubilee takes plunge into motor dealer market in RAC partnership
Jubilee has been appointed underwriter for a range of new products for the RAC, the first of which is a combined tyre and alloy wheel and minor accidental damage cover.
EU stands firm on Iran shipping sanctions
The European Union has no intention of delaying the implementation of sanctions against ships carrying Iranian oil, and Europe could cope with any extra loss of Iranian crude exports stemming from these measures, EU Energy Commissioner Gunther Oettinger…
Axa Assistance UK promotes Sharon Scully to deputy CEO
Axa Assistance UK has appointed property and legal CFO Sharon Scully as deputy chief executive as part of a drive towards future expansion.
Nordic insurers urged to make bigger adjustments to investment portfolios
Nordic insurers need to make bigger adjustments to their investment portfolios because of the likely requirements of Solvency II.
ABI backs Home Office decision to omit industry from Equality Act
The Association of British Insurers has thrown its support behind a Home Office announcement that imminent discrimination laws will not apply to the insurance industry.
Property claims: Insurers must prepare evidence for court correctly
Fraudsters are wriggling out of criminal charges because insurers fail to provide courts with the necessary evidence, a legal expert has warned.
Property claims: Business Sprinkler Alliance praises Wales for new law
Business Sprinkler Alliance chairman Iain Cox has praised the Welsh Assembly's decision to propose legislation ensuring that all new-build homes in the principality are fitted with sprinklers.
Claims bosses urge insurers to develop integrated localised flood response
Flooding in areas of the UK previously considered low risk has led claims bosses to urge insurers to concentrate on developing an integrated localised flood response, while arguments over a collaborative risk transfer solution rumble on.
Giles raids rival firms for big hitters to drive organic growth
Brendan McManus has vowed to transform Giles into a "recruitment machine" in a bid to support organic growth and clear the way for niche acquisition opportunities.
Market moves: A busy week in recruitment
The insurance industry enjoyed a busy week in recruitment, and brokers were the main movers and shakers as Marsh UK & Ireland welcomed a new chief executive and Giles named a new COO.
Claims Awards 2012: The winners
A full list of the winners and runners up at the 2012 Claims Awards.
Claims Awards 2012: Opening address - Claims Club chairman Jonathan Swift
Introducing the 2012 Claims Awards, Claims Club chairman Jonathan Swift made a point of reminding the attendees how quickly the sector moves, and yet how adaptable companies have been in the face of these challenges.