News
JLT chairman joins Chesterfield Group
Lloyd's broker the Chesterfield Group has appointed David Menzies to grow its accident and health account in the US and internationally, as part of an on-going growth strategy.
Industry cat losses to hit $65m in 2012, says Swiss Re
Insured losses from natural catastrophes and man-made disasters will reach approximately $65m in 2012, according to Swiss Re.
LMA teams up with IUA to run cross-market aviation committee
The Lloyd's Market Association will share the running of a cross-market aviation committee with the International Underwriting Association.
Industry welcomes discount rate court victory
Insurance lawyers have welcomed a High Court ruling dismissing a challenge on the current discount rate to determine damages in a catastrophic personal injury claim.
Lloyd's reveals Superstorm Sandy claims could hit $2.5bn
Lloyd's has announced today that its estimated net claims before tax from Superstorm Sandy are between $2bn and $2.5bn.
Lloyd's: Sandy net claims could reach $2.5bn
Net claims from Superstorm Sandy could hit Lloyd's for $2bn (£1.25bn) to $2.5bn (£1.55bn) it was announced this morning.
Aviva ends legal battle over Spanish JV Aseval
Aviva has reached a settlement with Bankia regarding their Spanish joint venture, Aseval. The agreement marks the end of legal proceedings between the two firms.
Cooper Gay recruits ex-Aon director as part of Asia push
Cooper Gay has appointed David Yip as head of treaty for Cooper Gay Hong Kong as part of an expansion drive in Asia.
Cooper Gay makes new hire to expand Chinese footprint
Cooper Gay has appointed David Yip, pictured, as head of treaty for Cooper Gay Hong Kong as part of an expansion drive in Asia.
Allianz fined $12.4m by SEC for improper payments in Indonesia
The Securities and Exchange Commission has charged Allianz SE with violating the books and records and internal control provisions of the Foreign Corrupt Practices Act for improper payments to government officials in Indonesia during a seven-year period.
Mitsui Sumitomo adds to underwriting team
Mitsui Sumitomo at Lloyd's has strengthened its underwriting team with two new appointments.
Analysts approve of Aviva's JV Aseval sale
Analysts have praised Aviva for continuing to execute its disposal programme by selling its entire stake in Spanish JV Aseval to Bankia.
Kinetic raids Lime Street Brokers
Lloyd's broker Kinetic Insurance has hired a team of brokers to expand the company's range of products and brands through online platforms.
Guy Carpenter launches in Dubai
Guy Carpenter & Company has opened its first office in the Middle East and has received a licence from the Dubai Financial Services Authority to operate as an insurance intermediary in the Dubai International Financial Centre.
Aviva settles with Bankia for €608m
Aviva has reached a settlement with Bankia regarding their Spanish joint venture, Aseval. The agreement marks the end of legal proceedings between the two firms.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
Mesothelioma proposals will render victims powerless
Personal injury law firm Irwin Mitchell has criticised the government's mesothelioma compensation reforms for restricting access to justice for victims.
HSBC India faces legal action over allegation of insurance fraud
An HSBC shareholder is threatening legal action against HSBC India for insurance fraud, pending the outcome of a regulatory investigation.
Europe's insurers more insulated against crisis than banks
European insurers have proved more resilient than their banking counterparts in the current financial crisis, but are still vulnerable to economic shocks, Moody's said today.
Norway's Gjensidige enhances risk management architecture
Norwegian insurance company Gjensidige has enhanced its risk management architecture to help comply with Solvency II.
Gender Directive to push up female motor premiums by 38%
Motor insurance premiums for young female drivers are expected to face sharp increases when the European Gender Directive comes into force on Friday, according to research by the British Insurance Brokers' Association.
Geneva Association ‘concerned’ over G-SIIs policy measures
Insurance think-tank Geneva Association has expressed concerns that the International Association of Insurance Supervisors’ proposed policies for Global Systemically Important Insurers do not match the needs of the insurance industry.
Allanfield plunges into administration
FRP Advisory appointed as administrators to specialist property broker.