News
RSA and Aviva join the MGAA
RSA and Aviva have become the latest members to sign up to the Managing General Agents' Association.
Thousands of homes evacuated after floods in Japan
Homes suffered substantial damage on Wednesday after intense rainfall caused flash flooding, burst river banks and landslides in the south west region.
H1 natural catastrophe losses $70bn less than in 2011
Insured losses from natural catastrophes were approximately $12bn in the first six months of 2012, significantly less than the $82bn in the first half of 2011.
Huge opportunities for anti-fraud measures in China, says FICO
Chinese non-life insurer Huatai was hailed as a pioneer this week after it became the first insurer in the region to deploy insurance fraud protection. John Chen, managing director of FICO, which provided the anti-fraud solution, spoke to Insurance…
ICICI Lombard launches health product to provide comprehensive care for families
ICICI Lombard General Insurance Company, India's largest private sector general insurance company, has launched its new Health Care Plus policy.
Private equity firm named as ING bidder
Private equity firm Blackstone Group is teaming up with Mark Wilson, former head of AIA Group, and other investors in a bid for ING's Asian insurance business, according to Bloomberg's Businessweek.
Ace launches new home protection product in Asia
Ace Insurance has launched a new home insurance product in Malaysia and Indonesia.
Pan-European certificate Poll
Is a pan-European certificate of professional competence needed for risk managers?
Generali acquires Region in Russia
Generali PPF Holding has bought 100% of the shares in insurance public stock company Region.
Camradata signs up insurance firms for investment data service
Investment information specialist Camradata has extended its reach into the insurance market by signing up new clients for its data service.
Insurers urged to adopt unisex rates ahead of directive deadline
Group risk insurer Ellipse has been swift to set out its response to the EU's gender directive, announcing it will switch to providing rate tables on a unisex basis only from September this year.
Euler Hermes launches Europe credit insurance
Euler Hermes is launching Europe Credit Insurance in the UK market, which enables businesses to receive additional cover up to a £1m for exceptional transactions.
Stormy weather causes £35m worth of vehicle damage
Two weeks of severe weather has caused £35m worth of damage to vehicles.
Iranian crude finds Asian buyers despite insurance sanctions
Iran is still shipping oil to China, and Japan looks likely to resume imports in August, as Iran continues to circumvent Western sanctions on ship insurance, Reuters reported.
Thailand ceases issuing new insurance licences
Foreign investors wishing to enter Thailand’s insurance market are to be denied new licences for at least five years as the country targets a staggered liberalisation of the financial services sector.
NIG strengthens north east team with two new hires
Commercial insurer NIG has appointed an underwriter and a business manager to its north east team.
Telematics sales increase 'fivefold'
Telematics insurance sales have increased fivefold in the past two years and are set to snowball to around 500 000 in the next two years.
Mapfre to create 150 jobs in Mexico in new Mapfre Tower
Mapfre chairman Antonio Huertas unveiled growth plans for Mexico in a visit to the country yesterday.
Aviva faces £40m flood bill
This summer's floods could cost three major household insurers almost £70m in the first half of the year, according to analysts.
Telematics could deliver an 'Olympic-sized' saving to UK economy
Coverbox has urged the government to encourage take-up of telematics among drivers.
Clyde & Co to open Libya office
Law firm Clyde & Co is opening an office in Tripoli, which will be the firm's fifth in the Middle East and North Africa region.
Market moves: Another busy week for insurers
This week, once again, belonged to insurers, with a number of firms making significant management changes. While Aviva stole the limelight with another reshuffle, Zurich quietly added a new CEO and Mitsui Sumitomo at Lloyd's rejigged its risk management…
Weather claims to hit £750m as industry waits for SoP announcement
The insurance industry is hopeful that the government will finally release details of the flood risk model that will replace the Statement of Principles before its summer recess next week.
Eiopa guidelines give clarity now insurers must act say analysts
Insurers were urged to get their final Solvency II preparations underway following the release of Eiopa’s Guidelines for Solvency II Reporting & Disclosure this week.