News
Munich Re: 2011 was worst year ever
Munich Re has said the sequence of earthquakes and large number of weather-related catastrophes made 2011 the costliest year ever in terms of natural catastrophe losses racking up $380bn of global economic losses.
ASA bans 'misleading' Direct Line ad
The Advertising Standards Authority has castigated Direct Line over a landlords’ insurance ad, featuring TV presenter Sarah Beeny, that claimed the insurer would beat any quote when it actually had a minimum price.
Catlin works on maritime risk reduction
Insurer Catlin has linked up with risk management firms Drum Cussac and Compass Risk Management to boost the services it offers to shipping clients with hijack, kidnap, extortion and wrongful detention exposures.
Axa and Japan Post ranked world's largest insurers
French insurer Axa once again came top of AM Best’s ranking of the world’s 25 largest insurance companies as measured by net premiums written, while Japan Post Insurance Company led the ranking measured by nonbanking assets.
RIMS names 2012 president
The Risk and Insurance Management Society has appointed Deborah Luthi to lead the society as president for the 2012 term.
Poole broker aims to meet demand with recruitment drive
A Poole-based broker is targeting future growth following the appointment of four new team members with more than 40 years combined experience.
Axa raises storm concerns amid spiralling claims
Axa bosses have this afternoon revealed they have received three and a half times the usual number of storm claims over the past 24 hours.
SRA begins accepting ABS applications
The Solicitors Regulation Authority today begins accepting applications from organisations wanting to be licensed as Alternative Business Structures.
£9m police fraud unit opens for business
The insurer-funded police fraud unit officially launched today.
Lloyd’s censures Equity over reserves
The Enforcement Board of Lloyd’s has censured motor insurer Equity and demanded it pay £95 000 costs over its under-reserving of claims, but has spared the syndicate an expected £1m fine.
F1 star appointed non-exec director at Ellis Clowes
International motor sport broker Ellis Clowes & Company has today revealed a boardroom reshuffle which will see former Formula One driver and TV pundit Mark Blundell take up the role of non-executive director at the firm.
Argent launches online chat facility
Rehabilitation provider, Argent, has launched a facility to enable customers to directly interact with clinical professionals online.
Nat-cats dominate renewals with modest change on other classes
The volume of catastrophe losses in 2011 from unmodeled or inadequately modelled perils has lead reinsurers to be more forceful in their demand for greater transparency of data and look to sub limit their exposure to manageable levels, according to…
Claims from Windstorm Dagmar in Scandinavia to break $46m
According to catastrophe modeling firm AIR Worldwide, Windstorm Dagmar, which moved across Russia north of St Petersburg on Christmas Day and until the early hours of 27 December 2011, caused power outages, tree-downings, and landslides and other…
Voyager boosts acquisition strategy with Culpeck deal
Voyager Insurance Services has started the new year by announcing the acquisition of a niche offering that provides cover to individuals with criminal convictions.
JLT expands in Ireland with FBD purchase
JLT Insurance Brokers (Ireland) has expanded its presence in the country with the acquisition of FBD Insurance Brokers.
Helvetia Switzerland concludes sale of health and accident portfolio
Helvetia Switzerland has concluded the sale of its health and accident portfolio.
JLT completes Italian Marine & Aviation deal
JLT Group has completed the deal to combine its existing Italian broking business Jardine Lloyd Thompson SpA with the business of Marine & Aviation SpA.
Liberty appoints Dubois from Flagstone
Liberty Syndicate Management has appointed Rene Dubois from Flagstone Re to lead its business advisory team.
Liberty appoints Dubois to lead business advisory team
Liberty Syndicate Management has appointed Rene Dubois to lead its business advisory team.
European insurers welcome guidelines on ECJ gender ruling
The European Commission’s publication of guidelines on applying the March gender ruling by the European Court of Justice has been welcomed by Europe’s insurers, according to the European insurance and reinsurance federation.
JLT confirms completion of Italian deal
JLT has combined its existing Italian broking business with the business of Marine & Aviation.
Auto Restore to expand in 2012
Auto Restore is predicting further growth in the motor repair sector for 2012 following what it claims was a record year in 2011 which saw growth up 12% on 2010.
Direct Line launches January sale on home insurance
Direct Line has kick-started the New Year with a January sale on home insurance geared towards householders looking to cut costs following a Christmas spending spree.