News
Zurich disposes of UK subsidiary
Zurich has announced that one of its non-core subsidiaries in the UK, Zurich Specialties London, will transfer its run off insurance business to Swiss Re at book value.
New Aviva chair McFarlane claims it has "promising future"
Aviva has confirmed that John McFarlane will become a non-executive director on 1 September 2011.
Zurich disposes of UK subsidiary
Zurich has announced that one of its non-core subsidiaries in the UK, Zurich Specialties London, will transfer its run off insurance business to Swiss Re at book value.
ABI biennial conference: ABI launches 10-point plan
Otto Thoresen, director general of the ABI, has unveiled a 10-point plan aimed at boosting "good customer experience and profitable growth".
FSA refuses to commit to April 2012 FSCS review deadline
Speaking at a meeting held by the All Party Parliamentary Group on Insurance and Financial Services about the future and funding of the FSCS scheme on 14 June, Sheila Nicoll, director of conduct policy at the FSA told MP’s that changes in Europe and UK…
QBE lands further rugby tie-up
QBE has signed an agreement with the Rugby Football Union to become the title sponsor of the Autumn Internationals.
RSA acquires Canadian firm ETFS
RSA Insurance Group has confirmed the acquisition of the insurance assets of Expert Travel Financial Services Incorporated a distributor of travel insurance in Canada.
Italian insurance market exceeds 8% of GDP
The Italian insurance regulator ISVAP has released it annual results for 2010 revealing the market exceeded 8% of gross domestic product for the first time.
FSA acknowledges consumer support on product intervention
The Financial Services Authority has published its feedback statement discussing responses to its “Product Intervention” discussion paper.
Brokers call for harsher fraud deterrent
A large number of brokers believe there should be higher penalties for insurance fraud and a central database of fraudsters to help deter fraud, according to a new survey.
Ex-Tesco head joins Direct Line
Royal Bank of Scotland Insurance has appointed Steve Price as Direct Line motor director.
SFO announces plan to build closer ties with the City
The Serious Fraud office has announced plans to forge stronger ties to the City of London and to the City of London Police.
Italian insurance market exceeds 8% of GDP
The Italian insurance regulator ISVAP has released it annual results for 2010 revealing the market exceeded 8% of gross domestic product for the first time.
Beachcroft: FSA product intervention marks “a major U-turn” in approach
Matthew Rutter, financial services partner at Beachcroft, has said the FSA’s feedback statement on product intervention – its powers to stop or intervene over financial services products – marks a major U-turn in its approach.
Aviva adds two to liability units
Aviva has made two new key appointments in the liability team of its Underwriting, Pricing and Product business unit.
Quinn’s net loss increases to €905m
Quinn Insurance has increased the net loss made in 2009 by €200m to €905m to account for the pay-out to repay the banks and bondholders of the Quinn Group as part of its restructuring, according to accounts filed for the year ended 31 December 2009.
Quinn’s net loss increases to €905m
Quinn Insurance has increased the net loss made in 2009 by €200m to €905m to account for the pay-out to repay the banks and bondholders of the Quinn Group as part of its restructuring, according to accounts filed for the year ended 31 December 2009.
XL estimates US weather losses of $75m
XL Group has estimated that severe weather occurrences, including tornado activity, in the US in April and May caused losses of $50m to $75m, with the majority attributable to XL’s reinsurance segment.
IAG to focus on Australia, New Zealand and Asia
Equity Red Star's parent group Insurance Australia Group Limited has said it will prioritise growth in Australia, New Zealand and Asia.
AM Best affirms Hanover ‘A’ rating
AM Best has affirmed the financial strength rating of A (Excellent) and issuer credit ratings (ICR) of “a” of The Hanover Insurance Group Property and Casualty Companies (The Hanover) and its members.
Growth continues in European insurance premiums in 2010
New figures published today by the CEA, the European insurance and reinsurance federation, show a provisional increase in gross written premiums in its member countries of 5% in 2010, at current exchange rates.
Man pleads guilty to faking his death in insurance scam
A man has has pleaded guilty to faking his own death in Honduras to claim insurance benefits and claiming pensions relating to another person.
Mega-brands set to strip market share from law firms
More than a quarter of consumers would choose a non-legal brand like Tesco, The Co-operative or The AA over a traditional solicitors practice, new research has revealed.
Growth continues in European insurance premiums in 2010
New figures published today by the CEA, the European insurance and reinsurance federation, show a provisional increase in gross written premiums in its member countries of 5% in 2010, at current exchange rates.