News
Reliance on third parties for data Solvency II challenge
Reliance on third parties for data, sophisticated risk modelling requirements and obtaining sufficiently detailed fund data were top of a list of challenges identified by European insurers in order for them to meet Solvency II requirements.
Willis teams up to boost 'renewable energy revolution'
Willis Group Holdings has confirmed a new strategic alliance with clean energy financier Narec Capital to unlock opportunities for firms in the renewable energy market.
WHO expert calls for cashless insurance system for Indian healthcare
Indian health insurance should cover more than it currently does according to experts at a recent one-day national consultation on the state of the market.
Groupama for sale after ‘grand cru’ year
Groupama’s UK chief executive officer François-Xavier Boisseau, pictured, has told staff in the insurer and its broker subsidiaries that the company is for sale after “unsolicited approaches”.
ABI “baffled” by call for transparency of referral fees
Responding to the Transport Committee report on the cost of motor insurance, the Association of British Insurers said referral fees should be banned altogether.
Bluefin recruits for Glasgow office
Axa-owned national insurance broker Bluefin has opened a new office in Atlantic Quay, Glasgow creating nine new jobs.
ING to sell Asian insurance business separately
ING Groep NV has dropped plans to create an Asian-European insurer and is considering selling its Asian business separately as European markets have worsened.
FSA recruit to help Capita clients prepare for twin peak regulation
A former Financial Services Authority boss is to use his knowledge of regulatory reform to help clients of Capita Commercial Insurance Services prepare for change.
Aon Risk Solutions poaches Willis UK boss
Aon Risk Solutions has today confirmed the capture of former Willis UK and Ireland chief operating officer Chris Lee-Smith.
Ex-Garwyn, Crawford and Cunningham staff launch new claims firm
A six-strong team of casualty claims experts has founded a new London Market-based consultancy called Applied Claims Consultancy.
Groupama to sell UK operations
French insurer Groupama has confirmed it will sell its UK operations.
Windsor recruits Price Forbes' binding authority team
Lloyd’s broker Windsor has today revealed further expansion of its North American division following the recruitment of a team of binding authority specialists from Price Forbes.
Uniqa Austria board reduces to four as Holzhauser leaves
The UNIQA Austria board will be reduced to four members after sales director Werner Holzhauser left the company by mutual agreement.
QBE expects 40% drop in profits after tax
Australia-based general insurer QBE expects its profits after tax for 2011 to be down 40% to 50% on the previous year.
DAC Beachcroft expands in Spain and Singapore
DAC Beachcroft has made appointments in its Spanish and Singapore offices to expand its international network.
Insurers reveal Thai flood losses
Bermuda-based Arch Capital Group has said it expects the company’s 2011 fourth quarter results to be negatively impacted by the severe flooding in Thailand.
Biba “keen to engage” with cross departmental ministerial committee
Responding to the Transport Committee cost of motor insurance follow up, the British Insurance Brokers’ Association, welcomed the establishment of a cross departmental ministerial committee.
NIG boosts SME push with EIS contract win
Bosses at NIG have vowed to support “ambitious” growth for 2012 after winning the contract to underwrite the multi-million pound gross written premium core business of Event Insurance Services.
Marsh in energy and construction move
Marsh has named Frenchman Vincent Marrot as global leader, energy engineering and leader of construction engineering in its international division.
GPs reveal steep rise in patients with 'bogus' injuries
Medical professionals are witnessing a sharp rise in the number of patients attempting to make fraudulent claims, with 60% of GPs surveyed by LV reporting an increase unscrupulous activity relating to car accident injuries.
Bin Shabib and Associates joins Insuralex
Law firm Bin Shabib and Associates LLP has been elected to membership of global insurance lawyers group, Insuralex.
Biba 2012 manifesto focuses on broker regulation and supporting growth
The British Insurance Brokers’ Association has launched its 2012 manifesto outlining its priority lobbying issues for the year ahead.
Mass “cautiously” welcomes transport committee report
The Motor Accident Solicitors Society said it cautiously welcomes the Transport Select Committee’s follow-up report on the cost of motor insurance published today, but warned that there is still a long way to go in “dispelling the myths” about whiplash…
Marsh appoints loss-adjuster to head energy and construction
Global broker Marsh has recruited Vincent Marrot to be its global leader for energy engineering and leader of construction engineering for the firm's international division.