News
Islamic Financial Services Board admits five new members
The Islamic Financial Services Board has admitted five new organisations into its membership.
IAG expands in Asia with Malaysian acquisition
Insurance Australia Group's Malaysian joint venture, AmG Insurance Berhad, has agreed to acquire Kurnia Insurans Berhad for RM1.55bn (€384m).
Jelf Manson aims to be Manchester’s broker of choice with Matthew Seel appointment
Manchester insurance broker Jelf Manson has appointed Matthew Seel, pictured, as account executive to develop new business in the area.
Motor insurers in the BBC Watchdog firing line
Admiral, More Than and Swiftcover were all criticised over renewal rates on the BBC's Watchdog programme which aired last night.
ABN Amro sells corporate broker to Aon
Bank ABN Amro is selling its corporate insurance broker business to Aon.
Farr warns of housing association claims
Housing association insurance broker Farr has warned that premiums in the sector – currently at the lowest level for 10 years – could be about to rise by as much as a fifth.
Axa appoints new product household director
Axa Personal Lines has recruited Gareth Howell who will be based in its Cobham offices.
Investment in the Arctic could reach $100bn in 10 years
This is according to a report released today by Lloyd's in conjunction with Chatham House.
Japanese insurers to limit tanker coverage due to sanctions
Japanese oil buyers will be forced to coordinate schedules after insurers warned they will cover only one tanker transporting Iranian oil at a time after the 1 July sanctions deadline.
Ex Bluefin MD appointed to consultancy role at TIP
The Insurance Partnership has named former Bluefin MD Graham Coates as executive consultant working directly with the board.
Ocaso appoints new Manchester office head
Spanish insurance company Ocaso UK has promoted Paul Costigan to manager of its Manchester office.
Canopius promotes Manning to group COO
Specialist reinsurer Canopius has promoted Steve Manning to group chief operating officer with responsibility for all operational matters.
Reinsurer capital remains strong despite near record catastrophe losses
Global reinsurer capital fell 3% during 2011 to $455bn (€345.5bn), according to an Aon Benfield Analytics study examining the impact of catastrophe losses on reinsurers' capital and earnings positions.
BAFSA report calls for government rethink on high-rise sprinklers
The British Automatic Fire Sprinkler Association has hit back at a government report describing the installation of sprinklers in high-rise flats as "not practical" by producing a 'safer high-rise living' guide to support its call for change.
Non-life premiums may fall amid China's economic slowdown
China's economic slowdown may lead to reduced premium income for the region's non-life insurance market, according to a senior industry figure.
Red 24 to brief CNA clients on kidnap risk
US commercial insurer CNA has appointed crisis response firm Red 24 to provide advice and response for kidnap, ransom and extortion.
Underwood steps down as Colement chairman
The chairman of Lloyd's broker Colemont Insurance will step out of the hotseat on 31 May having spent seven years with the firm.
Indonesia quake could cause premium hikes
Aftershocks from yesterday's 8.6 magnitude earthquake in Indonesia may lead to cover restrictions and premium and deductible increases, according to industry sources.
Mitsui Sumitomo to acquire 26% stake in New York Life
Japan's largest casualty insurer plans to acquire a 26% stake in Max New York Life Insurance Co to expand its business in the Indian insurance market.
Direct Line to support IPO by raising debt
Direct Line bosses are thought to be clearing the way to raise debt in order to achieve a £3.2bn IPO – making it one of the UK's biggest recent stock market listings.
Canopius unveils 'significant' executive committee shake-up
Canopius has today announced a major shake-up of its group executive committee which sees Steve Manning promoted to group chief operating officer.
Insured losses from Sumatra earthquake 'not significant'
Yesterday's 8.6 magnitude earthquake in Indonesia is not expected to cause significant insured losses, according to catastrophe modelling firm AIR Worldwide.
Aviva sale of US life assurance business could raise £1bn
Aviva group chief executive Andrew Moss has allegedly revealed that the firm may consider offers worth around £1bn for its US life assurance business, according to reports in the FT.
Car insurance prices fall for first time in more than three years
The results of the Confused and Towers Watson car insurance price index for the first quarter of 2012 also reveal that the cost of comprehensive cover fell by 3.3% in the last quarter, with third-party, fire and theft premiums seeing a smaller decrease…