News
Clear gears up for GWP push with Taylor appointment
Clear Insurance Management has today announced the appointment of executive director Simon Taylor as part of the firm’s long-term strategy to hit £50m gross written premium by 2014.
PwC names chair of actuarial services network
Richard Batty is to chair PwC’s actuarial services network.
PwC names chair of actuarial services network
Richard Batty is to chair PwC’s actuarial services network. In his new role, Batty will work with Bryan Joseph, PwC’s global actuarial leader, to develop the company's global actuarial consulting practice.
MGAA recognition leads to FSA fees instalment deal
Full members of the Managing General Agents’ Association can now pay their FSA fees by instalments at a discounted rate.
XL estimates cat losses of up to $120m
Insurer XL has estimated its catastrophe losses for Q3 at between $90m (£57.2m) and $120m.
Career development: Dewpoint training academy wins City & Guilds accreditation
Dewpoint, the training brand of construction company Gelder Group, has gained City & Guilds accreditation for its million-pound training academy.
Editor's comment: No news is bad news
Is it just me or are others growing tired of ‘news’ on the seemingly omnipresent – and supposedly incoming – Solvency II regime that adds nothing to the uncertainty over implementation deadlines?
Ecclesiastical shakes up property owners market with Crown Estate win
Property owners’ insurance brokers are benefiting from heightened competition between business-hungry insurers, with the entry of Ecclesiastical in May and the former Axa team starting to write business for Mistui Sumitomo at Lloyd’s this week.
BGL gears up European expansion plans
Compare The Market owner BGL has turned down acquisition opportunities in Europe, but continues to look to grow its presence on the Continent, with discussions in Italy and Spain ongoing.
FSCS funding review ro recommence as brokers push for separation
Brokers could secure separation from insurers and bankers as early as April 2013, with the British Insurance Brokers’ Association focusing its efforts on the reopened Financial Services Compensation Scheme funding review.
New Zealand insurers continue to reject business
The number of insurers rejecting new business amid ongoing seismic activity in Christchurch is escalating rapidly, according to an expert from Fitch Ratings in Australia.
Interest from Middle East inevitable due to depressed share prices
The European insurance industry is likely to see an investor from the Middle East take a shareholding in an established brand within six to eight months, according to a regional expert.
Sagicor withdrawal forced by First Central losses
Lloyd’s insurer Sagicor’s decision to quit both property treaty reinsurance and casualty treaty reinsurance was forced by huge losses incurred through its tie-up with Gibraltar-based motor insurer start-up First Central, Post understands.
Wood kicks off recruitment drive for fraud unit as threat assessment begins
The detective chief inspector charged with heading up the Association of British Insurers-funded fraud unit will wait for the results of an initial threat assessment before targeting specific areas of vulnerability within the industry.
News analysis: Insurers urged to negotiate with FSA as Solvency II confusion continues
The FSA has announced a delay to Solvency II but getting clarity remains a priority for government and insurers.
Career development: GAB trio pass new CILA certificate
Three graduate trainees from loss adjuster GAB Robins have become the first professionals to pass the new Chartered Institute of Loss Adjusters’ certificate qualification.
Market moves: Brokers pick up the pace
Following a quiet fortnight, major players in the broking sector have actively been recruiting this week.
AM Best affirms QBE ratings
AM Best has affirmed the financial strength ratings of A (Excellent) and the issuer credit ratings (ICR) of “a+” of QBE Insurance (Europe) Limited (United Kingdom), QBE Insurance (International) Limited (Australia) and QBE Reinsurance (Europe) Limited …
Fitch revises Italian ratings downwards
Fitch Ratings has revised the rating outlooks for the Italian life and non-life insurance sectors to negative from stable. This indicates that the majority of Italian life and non-life insurance ratings could be downgraded over the next 12 – 24 months.
Reputation protection cover for hotels
Willis, in conjunction with Kiln, has launched Hotel Reputation Protection 2.0, a policy aimed at limiting the financial fall out from negative PR.
Ecclesiastical shakes up property owners market with Crown Estate win - Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories including news that new entrant Ecclesiastical has shaken up the property owners market by winning a multi-billion pound portfolio belonging to The Crown Estate, as…
ABI director hits out at pleural plaques ruling
The ABI director of general insurance and health has been quick to register his disappointment following today’s Supreme Court ruling that the Scottish Parliament acted within its powers in making pleural plaques compensatable.
Hardy sets December 2010 start date for Singapore operation
Hardy Underwriting Bermuda has announced the opening of its new Singapore office.
RBSI bolsters its claims counter fraud operation
Bob Spencer has joined the claims team at RBS Insurance as head of counter fraud and Michael Brown as head of the counter fraud intelligence function.