News
Insured losses exceed $50bn in 2012
The reinsurance sector is "equipped with ample dedicated capital and stable pricing" as it enters 2013, according to Guy Carpenter.
Equity buys renewal rights to Ecclesiastical's Ansvar motor book
Equity Red Star has secured the rights to broker-sourced Ecclesiastical's motor business, underwritten by its ethical insurance arm Ansvar Insurance.
Miller hires facultative broker
Facultative reinsurance broker Charlotte Condon has joined Miller's reinsurance team in London.
HDFU trawls through historic data to launch risk profiling model
The Hill Dickinson Fraud Unit has developed a fraud risk profiling model that assesses risk and scores individual motor claims and the claimants within them.
MEP says gender ruling "flies in face of common sense"
Marina Yannakoudakis, MEP for London and Conservative Women's Rights spokesman in the European Parliament, has criticised the EU’s gender-neutral pricing rules which took effect on 21 December 2012.
Parry partners with Sterling in consultant role
Former NIG sales and distribution director Dave Parry is to join Sterling Insurance as a consultant through his new venture, Integrity.
Bupa to enter Polish market
Bupa plans to enter the Polish market with the acquisition of private healthcare provider LUX MED.
Software house CDL promotes Johnson to MD role
CDL has promoted former customer services boss Gary Johnson to the board of directors where he will lead the company as group managing director.
RSA cuts 93 Croydon jobs
RSA is to quit its Croydon office to relocate to a smaller site later this year, putting more than 90 staff at risk of redundancy.
Start-up boss aims to counter negative consumer view of large insurers
The CEO of a new online start-up believes that the appetite for insurers to diversify their books could trigger growth in social media-derived cover.
Groupama cuts stake in Société Générale
French insurer Groupama has reduced its direct and indirect shareholding in French banking group Société Générale.
UAE insurers consider motor premium hikes after December deluge
A hike in motor rates for UAE drivers is expected after 330 road accidents were reported in Dubai in a seven-hour period.
Aviva France names Schimel as new CEO
Former Axa boss Philippe Maso y Guell Rivet has been replaced at the helm of Aviva France by Nicolas Schimel, chief executive of Aviva subsidiary Union Financière de France (UFF).
Aviva France appoints new CEO after Maso y Guell Rivet resigns
Philippe Maso y Guell Rivet has resigned as chief executive of Aviva France after 18 months in the role.
MIB gives Hemani full-time customer services role
The Motor Insurers' Bureau has handed the role of head of customer services to Mohammed Hemani on a full-time basis.
Premium income for Chinese insurers up 7.4%
Chinese insurers posted premium income of ¥1.42tn ($228bn) in the first 11 months of 2012, a jump of 7.4% year on year.
Superstorm Sandy puts downwards pricing pressure on reinsurers
Natural catastrophe losses for 2012 are estimated to be 50% less than 2011's $120bn, and most reinsurers are not facing any material capital impact and remain within annual catastrophe budgets.
Fraudulent family told to pay back ill-gotten gains following IFB action
A deceitful family that plotted to cheat insurance companies by submitting dozens of fake household, pet and motor claims has been ordered to pay back more than £278 000.
Tax changes cause new year headaches for European insurers
Tax changes that came into effect in Denmark, Hungary and the Netherlands on 1 January 2013 could pose challenges for insurers and brokers.
Apil and Mass back RTA portal deadline reassessment
Lawyers associations have backed a statement from the Ministry of Justice suggesting that it will re-examine plans for implementation of an expanded RTA portal in April 2013.
RSA agrees sale of Dutch Caribbean unit
RSA has agreed to sell Royal & Sun Alliance Insurance (Antilles) N.V. to Fatum General Insurance N.V. for an undisclosed sum.
Qatarlyst confirms ongoing sale talks
Qatarlyst has announced that it is continuing discussions with "several" partners over a potential purchase.
Catastrophe reinsurance rates unharmed by Sandy, says Willis Re
Property catastrophe reinsurance rates adjusted flat to -5% globally in January renewals.
Aviva sells US business for £1.1bn
Aviva is to sell its US life and annuities business to life insurer Athene in a deal worth £1.1bn.