News
ISE 2012: France to suffer extreme temperatures due to global warming
Andreas Sterl, senior researcher at the Royal Netherlands meteorological Institute, has warned that France will be particularly affected by global warming.
ISE 2012: Luzzi says firms must think in global terms
Opening the inaugural Insurance Strategy Europe event Jorge Luzzi, president of the Federation of European Risk Management Association and director of group risk management at Pirelli, told delegates that a global view is essential going forward.
Career file: Mike Keating resurfaces at Midas
Former Axa Personal Lines director Mike Keating has taken up a new post at Midas Underwriting.
Oval and Giles management changes sign of wider consolidator shake-up
The change at the top at Oval has been a "long time coming", it was claimed this week, during a 24-hour period that saw another shake-up at rival consolidator Giles result in managing director Sarah Lyons being placed "on leave" amid "contractual issues".
Calls for telematics standardisation splits industry opinion
Rival firms raise question marks over Wunelli chairman Sandy Dunn's proposals
European sovereign debt hits insurer profits
2011 was the worst year on record for natural catastrophes, yet it was cracks in the Dow Jones, faults in the FTSE and tremors on the Hange Seng that bothered many insurers more.
Updated whiplash book proposal finds support despite reservations
Law firm Lyons Davidson is launching a campaign to republish an updated version of the whiplash book, in a bid to tackle the claims epidemic.
Career development: Tackling the issue of attracting young claims talent
For several years there has been increasing concern around the long-term resourcing of claims departments. There is clearly a need for new blood in the London claims market but, where is that going to come from?
Market moves: UK General and Towergate lead the pack
Insurer UK General and broker Towergate were the main movers and shakers this week, appointing a new chief operating officer and director of group mergers and acquisitions respectively.
Budget 2012: Local authorities to receive support amid risk concerns
Zurich Municipal’s director of public services has played down fears of deteriorating risks within “overstretched” local authorities following claims that roads across the UK are in need of a £10bn upgrade.
Insurance Europe disappointed by ECON's approval of long-term guarantees
Insurance Europe, formerly the CEA, welcomed the approval of the provisions in relation to non-life and health insurance by the European Parliament’s economic and monetary affairs committee today, saying it hoped to see them included in the final Omnibus…
Hardy advised by Debevoise & Plimpton over sale
Hardy Underwriting is being advised Debevoise & Plimpton over the insurer's £143m deal with CNA.
Solvency II changes ignore industry concerns, E&Y says
The European Parliament’s Economic and Monetary Affairs Committee’s agreed Solvency II amendments disregards industry proposals, according to Ernst & Young.
Cash deal and incumbent Hardy bosses swung CNA deal
CNA's decision to keep Hardy chief executive Barbara Merry and chief underwriting officer Patrick Gage along with the cash deal secured the deal.
Editor's comment: Sants move raises FSA transition concerns
Having been convinced by the Conservative-Liberal coalition to withdraw his resignation and extend his stay once before, the Financial Services Authority chief executive officer Hector Sants' decision to step down in the summer was something of a…
Budget 2012: No nasty surprises for insurers as firms wait on Finance Bill
The insurance-specific measures announced in George Osborne's budget speech have been branded "wholly expected" by Deloitte insurance tax leader Anne Hamilton.
Mexico quake damage "less than $100m"
The magnitude 7.4 earthquake that struck Mexico yesterday is expected to cause less than $100m of insured damage, according to catastrophe modelling firm Eqecat.
Budget 2012: Red tape reductions expected to enhance SME growth
Zurich SME boss Richard Coleman has praised the Chancellor's budget announcement concerning a consultation on how small business with turnover of up to £77 000 pay tax.
Analysts praise ECON vote on Solvency II
Industry experts have praised the European Parliament Economic and Monetary Affairs Committee decision to back a series of Solvency II amendments.
CNA to acquire Hardy
US commercial insurer CNA is to acquire Lloyd's insurer Hardy Underwriting.
Budget 2012: More insurers to target UK move, claims PwC
The insurance implications of this afternoon's budget could result in an influx of international insurers moving to the UK over the coming 12 months, according to PwC insurance tax leader Colin Graham.
Budget 2012: ABI director general welcomes corporation tax cuts
The director general of the Association of British Insurers has "strongly welcomed" Chancellor George Osborne's promise to create a more competitive corporate tax regime in Britain by cutting corporation tax to 24%.
Starr expands in APAC with Singapore direct licence
Insurance and travel assistance group Starr Companies has been granted a direct general licence from the Monetary Authority of Singapore to operate as a direct insurer in the republic.
CNA to buy Hardy
US commercial property and casualty insurer CNA is to acquire troubled Lloyd's insurer Hardy Underwriting.