News
Cat price rises inadequate, says Canopius
Canopius executive chairman Michael Watson has said that tenfold increases in premiums in Thailand have been exceptions, and complained that insurers have not done enough to raise rates across the board.
Apil issues justice warning despite Laspo bill exemptions
A decision by the House of Lords to exempt victims of industrial disease from the proposals for 'no-win, no-fee' in the Legal Aid, Sentencing and Punishment of Offenders Bill has been welcomed by the Association of Personal Injury Lawyers.
China loses out as Mapfre targets more 'liberal' Asian countries
China's hostile environment for foreign investors has led Spanish insurer Mapfre to seek acquisition targets elsewhere in Asia in order to expand within the region.
Solvency II unlikely to spark wave of relocations, says Fitch
Solvency II is unlikely to lead to a wave of European insurers moving their headquarters out of Europe as a result of concerns about third-country equivalence, particularly for the US, ratings agency Fitch has claimed.
Solvency II will not spark relocation, says Fitch
Solvency II is unlikely to lead to a wave of European insurers moving their headquarters out of Europe because of third-country equivalency concerns, Fitch Ratings has said.
Boards need to wake up to cyber threats
Company directors must wake up to cyber threats or risk litigation from all sides, according to Francis Kean of Willis Group Holdings.
Boards urged to wake up to cyber threats and liabilities
Company directors must wake up to cyber threats or they risk litigation from all sides, according to Willis.
Aon Risk Solutions appoints ex-JLT man Marshall as power leader
Aon Risk Solutions has confirmed the appointment of former JLT employee Darren Marshall as power construction leader.
Aon extends power team with recruit from RK Harrison
Aon Risk Solutions has appointed Darren Marshall as power construction leader.
Canopius tumbles to first ever loss
Lloyd's insurer Canopius has announced its first ever loss – of £64m before tax (2010: profit of £40m) with catastrophes adding 24 points to its combined ratio bringing it to 111%.
Groupama CEO blames Greek debt crisis for £1.5bn net losses
Groupama chief executive Thierry Martel has blamed "adverse market conditions" on huge capital losses, attributing the group's net result of a loss of almost €1.8bn (£1.5bn) to the Greek debt crisis.
Auto traders distribute over 50% of motor premiums in emerging markets
Motor insurance is one of the most important components of non-life in emerging markets, according to recent research by Finaccord.
Scor IDS upgraded to A+
French reinsurer Scor has had its long-term issuer default rating and insurer financial strength ratings upgraded by Fitch, owing to its strong solvency and moderate debt in relation to its risk profile.
London tops KPMG report for investment
KPMG's Global Cities Investment Monitor has shown that London remains the top city in the world for foreign investment.
Insurance bosses invited to discuss common standard for telematics
Executives from some of the UK's biggest insurance firms will sit down next month to discuss the formulation of a common standard for issues surrounding telematics data ahead of an expected boom in demand.
Arista expands with two Birmingham hires
Arista Insurance has appointed Paul Smith as senior fleet underwriter and Amanda Jones as fleet underwriter to its Birmingham office.
EU may exempt liability insurers from Iran sanctions
The European Union is considering relaxing rules on indemnifying Iranian tankers, to allow insurers to provide cover for third-party and environmental liability.
Car insurance tops web search queries
Quarterly research by Greenlight found insurance-related searches in January totalled 1.9 million, down from more than 2.3 million in October 2011, but car insurance searches leapt.
Clarke steps up as chairman of Liiba
Miller chief executive Graham Clarke has been elected chairman of the London & International Insurance Brokers' Association.
Large Tohoku aftershocks hit Japan
Insured losses from two earthquakes which occurred in Japan on 14 March will be less than $100m, according to Eqecat.
National Windscreens bullish on growth
National Windscreens commercial director Peter Marsden has claimed rivals are suffering not from the market decline but from National's growth.
RIMS welcomes broker transparency win
US insurance buyers group the Risk and Insurance Management Society has welcomed a court of appeal ruling confirming brokers must declare their earnings from insurers.
Singapore motor sector returns to profit for first time since 2005
The Singapore domestic general insurance industry registered strong growth amid global economic uncertainty and huge catastrophic losses experienced in other markets, according to the latest figures from the General Insurance Association in the country.
Market moves: Insurers are the main movers
Insurers were, once again, the main movers and shakers this week, Ecclesiastical leading the way with the appointment of four new directors, while Allianz, QBE, XL and Arc Legal also welcomed new staff.