News
EU to force broker commission disclosure
The British Insurance Brokers' Association is warning that Europe could force mandatory commission disclosure on brokers by 2019.
Whittington to be known as 'Asta' following MBO
Whittington UK has signalled the completion of its management-led acquisition by announcing the rebranding of the firm, which will now be known as Asta.
Catlin posts Q1 GWP of $1.6bn
Catlin Group reported a 12% increase in gross written premiums to $1.6bn in the first quarter.
London must alter loss of hire wordings
The London insurance market needs to address shortcomings in standard loss of hire wordings if it is to be a 'go-to’ market for this important type of marine business, the chairman of the Association of Average Adjusters has warned.
Axa UK and Ireland GWP grows 9%
Axa has reported that its UK and Ireland general insurance business saw gross written premium rise 9% to €996m (£800m) (2011: €916m).
HSBC rumoured to be considering exit from Indian JV
Rumours in the market suggest that banking giant HSBC may exit its Indian insurance venture.
Catlin GWP up 12% as rates rise across portfolio
Catlin has announced a 12% rise in gross written premium in the first quarter to $1,642m (Q1 2011: $1,465m).
Post Blog: Does insurance have to be so complicated?
The complexity of the insurance sector is making it difficult to engage with consumers. Philip Davies, EMEA president of Siegel and Gale, explains.
Allianz hunts P&C acquisition targets
German insurer Allianz is considering property and casualty acquisitions, having a better grasp of future capital requirements for the business under Solvency II, according to reports.
IRDA will pave way for Lloyd's to enter India
India's government is planning to push through the insurance reforms bill that is set to retain the foreign direct investment cap in the sector at 26%, but will allow "modifications" to enable Lloyd's of London to enter the Indian market.
Markel makes senior appointment to cargo team
Markel International has appointed Richard Burnett as senior underwriter for cargo, part of the company's marine and energy division.
Markel CEO points to acquistion activity in Q1 results report
Markel bosses are celebrating an "all time high" on the firm's book values per share following a first quarter which produced a combined ratio improvement of 12% on Q1 2011 to 100%.
July reinsurance rate increases likely to be muted
Price increases in the July reinsurance renewal period are likely to be restricted to loss-affected sectors unless there is a further significant insured loss for the industry, according to Fitch.
Cyber risk rising in Asia
Cyber crime is on the rise in Asia, with small businesses particularly at risk, according to a recent Marsh report.
Post Broking Supplement: Biba 2012 conference timetable
The event programme for the Insurance Brokers' Association Conference - Shaping our futures - on Wednesday 16 and Thursday 17 May 2012.
Beazley Q1 position a cause for optimism, claims analyst
Beazley has this morning reported Q1 gross written premium of $465m (£288.8m), representing a 9% rise on the same period last year.
Munich Re returns to first-quarter profit
Munich Re achieved a consolidated profit of €782m in the first quarter of 2012, compared with a loss of €948m in the same period a year ago.
Redomiciling still an option for dissatisfied Prudential
Prudential may still relocate outside the European Union as its lobbying campaign to alter Solvency II rules has failed to make a breakthrough thus far, according to Reuters.
Keychoice Underwriting set to transfer business to Towergate
SSP-owned managing general agent Keychoice Underwriting is in talks to transfer its business to Towergate, Insurance Age has exclusively revealed this morning.
L&G appoints Wilson as group CEO
Legal & General has appointed Nigel Wilson as group chief executive to replace Tim Breedon.
Zurich UK GI lags behind group with COR of 101.3% and underwriting loss
Zurich's UK arm has reported a business operating profit of $32m for the first quarter of 2012 (Q1 2011: $40m).
Hubbard returns to front line as Posner stands down
Former Axa UK chief executive Peter Hubbard has stepped up to the role of executive chairman at Leeds-headquartered MGA UK General Group after Howard Posner decided not to continue.
Law report: Defamation case is struck out
Law reports contributed by national law firm Berrymans Lace Mawer.
As Moss quits Aviva, speculation soars as to suitable CEO replacement
When Aviva announced on Tuesday that chief executive Andrew Moss was to step down, it came as little surprise to the market and shareholders appeared to welcome his decision.