News
Uniqa sees 4.4% growth in 2011
Uniqa group as increased it premiums by 4.4% to €5.37bn (2010: €5.14bn) and in the growth markets in Eastern Europe by 6.5% €1.08bn (2010: €1,02bn).
Ace appoints international accident and health team head
Ace has appointed Craig Parfitt to head up the analytics and management information team for its accident and health business in Europe, the Middle East and Africa.
Zurich applauds request for global compliance database
Zurich has applauded Airmic's and FERMA's focus on increasing the clarity of international insurance requirements.
European insurers face ongoing capital challenges
European life and non-life insurers must make difficult strategic decisions in 2012 with the recent European sovereign downgrades adding to capital pressures, according to Ernst & Young’s new Insurance Industry outlook.
Helphire to investigate Autofocus cases
Credit hire company Helphire is to re-open and review its cases which used evidence from Autofocus with a view to making recoveries.
Polish latest nation to visit UK for fraud prevention tips
A delegation from Poland is the latest in a number of nations that has visited London to learn more about the fraud detection techniques used by the British insurance industry.
Swiss Re and Mapfre take a bigger slice of Admiral
Admiral has extended its existing UK car insurance reinsurance partnerships with Hannover Re, Mapfre Re, New Re and Swiss Re into 2014.
Markel to use investment success to target further Europe expansion
Markel finance director Andy Davies has confirmed the company will seek further European acquisitions this year on top of the German buy of Anglo Underwriting already announced.
City wants regulation simplified
Law firm Evershed’s survey of the City has found that a narrow majority (51%) of City businesses think that Solvency II should be simplified compared to a quarter (27%) who believe that it does not require any changes.
FSA demands 15.6% rise in its final budget
The Financial Services Authority has said it needs a 15.6% increase in funding to £578.4m, up from £500.5m in 2011/12 for its final year as a regulator.
Chubb launches online system for life sciences companies
US insurer Chubb has launched an online system allowing firms undertaking clinical trials in China and Brazil to download local insurance certificates.
Reduced capacity in Asia will not affect all business lines
Despite catastrophe losses leading to reduced capacity in the Asia Pacific region, competitive rates are still possible on some lines, according to broker Marsh.
Zurich backs Airmic’s compliance database
Zurich has applauded Airmic's and FERMA's plans to develop a database of international insurance requirements
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Jackson delay must not allow dilution
Law firm Kennedys has urged the government not to let the delayed timetable for implementation of Lord Justice Jackson’s proposals on reform of civil litigation allow the proposals to be watered down.
Ex-Aon boss joins Ironshore
Former Aon boss Dennis Mahoney has joined the board of insurer Ironshore.
Cunningham Lindsey’s Roberts steps down
Cunningham Lindsey risk and compliance director Harry Roberts is standing down from the board to handle business interruption claims and reduce his working hours.
RTA injuries dive as traffic volumes fall
Motor vehicle traffic levels fell by 0.7% compared to the 12-month period ending September 2010, leading to a 5% fall in the number of injury road accidents reported to the police.
KBC has no plans to sell Bulgarian subsidiary
Belgium's KBC has denied claims in the local media that it plans to divest itself of Bulgarian insurance subsidiary DZI.
Zurich targets food and sports sectors
Zurich has launched mid-corporate sector-specific broker-sold products for the food & beverage sector and for sports, leisure & entertainment adding to its year-old Corporate Focus proposition.
Aviva and Brit credit hire cases reach Court of Appeal
Seven credit hire cases involving Aviva and Brit are set to be heard in the Court of Appeal later this month, Post has learnt.
Munich Re reports €0.71bn profit despite major losses
Munich Re reported a profit of €0.71bn for 2011, despite major losses and against the backdrop of the Eurozone crisis.
Markel reports investment and GWP growth counters catastrophe claims
Markel International saw gross written premiums rise 16% to $825m for 2011 ($709m) but a combined ratio of 116% (95%) included $123m, or 18 points, from natural catastrophes compared with $17m, or 3 points, in 2010.
Munich Re profits down 70%, GWP up 9%
Exceptional major losses and “burdens from the financial crisis” slashed Munich Re’s profit last year by more than 70% to €0.71bn from €2.43bn in 2010. This was despite gross written premiums being up by almost 9% to €49.6bn (€45.5bn).