News
Insurers urged to check books as S&P held accountable for 'misleading' rating
Insurers have been urged by a leading lawyer to check their books to see whether they have open notifications from credit rating agencies after an Australian court ruled that Standard & Poor's was liable for damages to investors.
Davies expects Markel full-year results to weather the storm
Markel International finance director Andy Davies is confident that the impact of superstorm Sandy on his firm's full-year results will not halt the momentum achieved in the opening nine months of the year.
Delhi drivers to face emissions-linked insurance
Motor insurance in India may soon be linked to a vehicle's emissions as part of new regulations aimed at cutting pollution in Delhi.
Aegis London splits non-marine property book
Aegis London has split its non-marine property book, and promoted two underwriters as part of the change.
Miller appointment strengthens marine team
Miller has enhanced its marine capabilities with the appointment of stock throughput, cargo and project cargo insurance broking specialist Tony Robinson.
Scor attributes £5.7bn GWP to a 'robust' business approach
Global reinsurer Scor delivered a 13% jump in gross written premiums to €7.2bn (£5.7bn) in the first nine months of the year owing to "increased visibility in the industry".
Fitch issues negative outlook for Italian insurers
Fitch Ratings has issued the Italian insurance industry with a negative rating outlook for 2013, indicating an elevated risk of downgrades for Italian insurers over the next 12 to 24 months.
Competition to heat up in housing market
Ernst & Young has predicted that the household insurance sector will produce a combined operating ratio of 95% in 2012, despite this summer's flooding and other variable weather throughout the year.
QBE scales back profit margin estimates as Sandy losses swell
Global insurer QBE has estimated its insured losses from super storm Sandy will be between £220.4m ($350m) and £283m ($450m).
RSA on alert after man appears in court a year on from M5 crash
RSA will "continue to monitor matters closely" after the provider of a fireworks display at Taunton Rugby Club was charged with seven counts of manslaughter following a pile-up on the M5 last November.
Superstorm Sandy: direct wind not to blame for buildings damage
Damage from storm surge and flooding caused by superstorm Sandy is widespread and extensive, but there is only minor damage to buildings from direct wind, according to a report released today by Willis Re.
Groupama launches group PA and travel quote facility
Groupama Insurances has added an online quotation facility for group personal accident, illness and business travel cover to broker extranet Optima Online.
Charles Taylor to buy life business in £1.55m deal
Charles Taylor is to acquire Global Life Assurance Limited from Pinnacle Company Limited for £1.55m.
Petroleum and gas secretary front runner in IRDA chairman race
Girish Chandra Chaturvedi is being tipped to take the helm of India's Insurance Regulatory and Development Authority when the term of current chairman J Harinarayan comes to an end early next year.
Kwik-Fit Insurance launches insurance product for learner drivers
Kwik-Fit Insurance has launched a motor insurance product aimed at drivers on a provisional licence.
"Allianz shareholders are happy," says Torrance despite COR deterioration
Allianz UK chief executive Andrew Torrance has called the insurer's retail non-motor combined operating ratio of 101.7% for the first nine months of 2012 a "decent result" given recent poor weather.
Axa unveils legal service for SMEs
Axa Commercial Lines and Personal Intermediary has launched a legal, regulatory and compliance service as standard on its management liability product.
CILA appoints first female deputy president
Candy Holland, managing director of JLT subsidiary Echelon Claims Consultants, has been appointed deputy president of the Chartered Institute of Loss Adjusters.
Germany-based businesses more likely to succeed, says Coface report
Corporate insolvency laws, profitability and stable sources of funding are among the reasons German companies are less likely to fail than those based in France, a Coface report has found.
PICC IPO valuation hits $20.8bn
People's Insurance Co (Group) of China is planning a listing that will value the state-owned insurer at around $20.8bn, according to a Market Watch report.
Covéa reveals executive team line-up
Covéa Insurance, the business created from the merger of MMA Insurance and Provident Insurance, has confirmed the members of its executive team.
Covea unveils new look executive team
Covea Insurance has confirmed the line-up of the executive team charged with leading the business following its creation via the merger of MMA and Provident.
UIB appoints ERC divisional director
United Insurance Brokers has named Lachlan Munn as divisional director of Engineering Risk Consultants.
Liberty Mutual names Marsh broker as Scotland lead
Commercial lines underwriter Liberty Mutual Insurance has recruited Caroline Inglis to head up a new Scottish operation.