News
RSA unveils commercial division management team
RSA has unveiled the management team of its new commercial division.
Lloyds TSB shareholders vote in favour of HBOS takeover
Shareholders in UK banking giant Lloyds TSB have voted in favour of taking over embattled rival HBOS, the company said in a statement.
Pick of the week
Click here for this week's video Post reporters Louise Meeson and Alwynne Gwilt round up the top stories from the general insurance sector. This week: Fortis unveils its new strategy that aims to deliver double-digit premium growth; contingency fees are…
RBSI appoints new commercial boss
Royal Bank of Scotland Insurance has appointed Nigel Pearce as interim managing director of commercial following Andy Cornish's decision to leave the business.
Pro Insurance Solutions wins Lloyd's license
Swiss Re-owned PRO Insurance Solutions has been given a license to be a Lloyd's run-off broker, the company has said.
Esure picks a Winner
Director Michael Winner is returning to the nation's TV screens on New Year's Day 2009 as part of Esure's new advertising campaign.
Global insurance markets competitive as ever - Axa
Global insurance markets in property and casualty lines are as competitive as ever amid the whiplash of the credit crisis, but leaders are warning that the potentially massive burden of natural catastrophe losses requires a halt to downward pressure on…
Moody's downgrades outlook on If P&C and Sampo
Moody's Investors Service said today that revised the outlook for the ratings of Swedish insurer If P&C and its Finnish owner company, Sampo to 'stable' from 'positive' and affirmed their ratings.
Willis hires Reynolds as new property advisor
Willis Group Holdings has appointed Philip Reynolds as an advisor to its property investors division.
Capita could axe up to 62 Assistance staff
Capita could cut up to 62 roles at its Colchester-based Assistance business and is also looking at the possibility of transferring all or part of the division to external third parties.
California wildfires could cause $500m of total property losses - GuyCarp
Three wildfires fanned by hurricane-force Santa Ana winds forced tens of thousands of people to evacuate their homes in parts of Southern California over the past week could cause a total property loss of over $500m, Guy Carpenter has reported.
Grant Thornton comments on QIS4
Grant Thornton said today that the fourth quantitative impact study into Solvency II shows that there will be no major impact on the balance sheets of insurance companies.
FSA bans two insurance brokers over client money failings
The Financial Services Authority has banned two directors of an insurance broker for failing to ensure that their firm complied with FSA client money rules.
Ascot increases capacity for 2009
Ascot Underwriting has increased its capacity for next year by £20m after the insurer's owner AIG lodged the funds at Lloyd's to support Ascot's 2009 business plan.
FSA bans another broker
The Financial Services Authority (FSA) has banned two directors of an insurance broker for failing to ensure that their firm complied with FSA client money rules.
THB appoints former GC Fac head as commercial director for Amsterdam office
Specialist broking group THB has announced the appointment of Ernst-Jan Henkelman as commercial director of its Amsterdam office.
Airline renewals up 12% so far in November - Aon
Airline renewal rates are up 12% in November compared to a 10% reduction this time last year, according to Aon.
Pricing challenges in D&O market seen pre-January renewals - Lockton
(BESTWIRE) Many publicly traded companies that have American International Group in their directors and officers liability programme are scrambling to obtain alternative quotes before their programs renew 1 January , an executive risk expert with broker…
Zurich launches adviser tool
Zurich has launched a planning tool aimed at helping advisers address their clients' business protection needs.
Texas approves 12.3% increase for Texas Windstorm Insurance Association
(BESTWIRE) - In an attempt to establish rates that are better suited to cover claims, the Texas insurance commissioner has exceeded a mandated cap on rate increases for the state's insurer of last resort for windstorm coverage.
AIG injects €1.1bn into Taiwanese life insurance unit
(BESTWIRE) American International Group has injected NT$45.11 billion (1.1 billion euros) into its Taiwan life insurance unit, Nan Shan Life Insurance Co. Ltd., in a bid to strengthen the subsidiary's capital base.
Aon executive makes recommendations to US Treasury
Aon's executive vice president and general counsel, D Cameron Findlay, has testified before the House Committee on Financial Services in Washington, DC.
Amlin's syndicate income falls 11.3%
Amlin has reported a fall of 7.5% in gross written premium (before deduction of brokerage) for the first 10 months of the year to £904.1m compared to the same period last year (2007: £977.2m).
Reinsurance rates set to soar, says Amlin
The reinsurance market is poised to see a strong rise in rate levels while added pressure on reinsurers due to less available capital is limiting their appetite for risk, according to Amlin.