News
Insurance Insight closed for festive period
Insurance Insight's offices will be closed from 19 December 2012 to 2 January 2013 for the festive period. We would like to take this opportunity to wish you all a very Merry Christmas and a Happy New Year.
Catlin estimates Sandy storm losses at $200m
Catlin Group has said that its Sandy-related losses will be about $200m, net of reinsurance and reinstatements.
ERV Italy Facebook fans win 10% discount on travel cover
Italian consumers can now buy travel insurance from ERV via an e-commerce module on the firm's Facebook page as part of a new social media push.
S&P changes RSA outlook from stable to negative
Standard & Poor's has revised its outlook on RSA from stable to negative in light of low interest rates.
Equinox Global boosts capacity with Jubilee deal
Trade credit insurer Equinox Global has secured additional capacity through Jubilee Syndicate 5820 at Lloyd's, in a deal that increases Equinox's automatic capacity from $30m (£18.5m) to $35m (£21.6m).
AIG divests remaining holding in AIA
AIA Group has confirmed that AIG has entered into a placing agreement to sell all its ordinary shares of AIA at HK$30.30 each.
Lloyd's insurer Kiln recruits Zking manager Jin to lead Shanghai JV
Kiln has appointed Gu Jin to lead its new venture with Lloyd's Insurance Company (China) in Shanghai.
Kiln expands Asia footprint with new hire
Kiln has appointed Gu Jin to lead a new venture with Lloyd's Insurance Company (China) in Shanghai.
JLT launches multi-line executive defence insurance product
Lloyd's broker JLT has teamed up with AIG Europe to develop an executive defence product for commercial clients which combines a number of financial lines under one limit while preserving some dedicated protection for personal assets.
Quindell granted ABS licence
Quindell Portfolio has secured an alternative business structure licence for legal services which will allow it to complete the purchase of personal injury specialist Silverbeck Rymer.
Superstorm Sandy to cost Catlin £124m
Catlin estimates that its losses from the storm will be $200m (£124m), net of reinsurance and reinstatements.
Premium Credit appoints new chief operating officer
Premium Credit has appointed Gopi Chelliah, pictured, as chief operating officer.
CRIF links with HPI and Tracesmart for fraud tools
Fraud solutions provider CRIF Decision Solutions has inked deals to provide customers with anti-fraud data through vehicle identification and consumer profiling.
Think tank suggests early intervention for systemically risky insurers
Insurers deemed to pose systemic risk should face three steps as part of an escalating "ladder of intervention", according to the Geneva Association.
Ageas acquisition boosts Groupama Insurances rating
Standard & Poor's has raised Ageas' financial strength rating to 'BBB' with a 'stable outlook', having reviewed the insurer's financial and business risk profiles.
BWise expands reach with Bangkok office
Governance, risk management and compliance software firm BWise has opened a regional office in Bangkok, Thailand.
Japanese insurers vulnerable to stock market downturns
Japanese non-life insurance groups are likely to maintain adequate capital buffers at the group level, underpinned by robust capital from life subsidiaries, according to Fitch.
Quest Group secures acquisition loan from Clydesdale Bank
Insurance provider Quest Group has secured a senior debt facility from Clydesdale Bank to help complete the acquisition of an insurance portfolio from Ireland-based Icarom.
Amlin to move into the 'Cheese grater' in 2015
Insurer and reinsurer Amlin will move into the Leadenhall Building, better known as the 'Cheese grater', in March 2015.
Willis launches cover for offshore decommissioning risks
The energy industry faces new risks associated with decommissioning and dismantling oil and gas installations when they reach the end of their productive life, Willis Energy has warned.
Insurance company uses 'people power' policies to drive down premiums
A new company that will use group buying power to help people with similar interests and needs to drive premiums down has launched today.
AIA suspends shares as AIG commences potential sale
The board of directors of AIA Group has requested that trading in the shares of the company on the Hong Kong Stock Exchange be suspended after AIG started a potential sale by placing a "significant proportion" of the shares held by AIG.
UK General joins the MGAA
UK General Insurance has become a member of the Managing General Agents' Association.
Towers Watson motor report warns insurers to move with the times
Insurers have been told to refresh internal approaches to keep pace with a changing motor market, which is expected to break into profitable territory in 2012.