News
GFIA supports Indian Insurance Amendment Bill
The Global Federation of Insurance Associations has written to the Indian Prime Minister Dr Manmohan Singh to offer its support for the proposed Indian Insurance Law Amendment Bill.
Lancashire reveals Cathedral deal
Bermudian insurer and reinsurer Lancashire Holdings has confirmed it is in negotiations to acquire Lloyd’s insurer Cathedral Capital for £266m.
Life insurance rate-cap removal in China could spur innovation, says Fitch
Ratings agency Fitch welcomes the removal of the 2.5% capo on guaranteed rates by the China Insurance Regulatory Commission.
Willis Re's Australia chairman in Bermuda move
Willis Re Australia chairman Michael Harden has been appointed chief executive of Willis Re Bermuda.
Axa hails "massive potential" of Chinese car market
Axa's chief financial officer Francois-Valery Lecomte has hailed the huge opportunity in the Chinese motor market.
H7N9 can transmit from human to human, say researchers
According to researchers at the Jiangsu Province Centre for Disease Control and Prevention, the latest strain of bird flu can transmit from human-to-human.
Esure 'mystified' by dividend reaction
Esure has been left "mystified" by the drop in share price following the publication of its first set of results following the company’s floatation earlier this year.
Staysure recruits three to leadership roles
Over 50s insurance specialist Staysure has revamped its leadership with the appointment of a new chairman, deputy chief executive and chief technical officer.
ABI disputes unpaid London riot claims figures
The Association of British Insurers has written to the Deputy Mayor of London to refute allegations of a high number of outstanding insurance claims following the London riots.
Willis Re Australia chair Michael Harden to head Bermuda office
Willis Re Australia chairman Michael Harden has been appointed chief executive of Willis Re Bermuda.
Motor market re-entry to take place in H2 as L&G eyes M&A opportunities
Legal & General’s insurance director has reiterated his intention to initially re-enter the motor market as a distributor and to also consider potential acquisition opportunities.
Axa echoes TSC criticism of pre-med whiplash offers
Axa has joined the Transport Select Committee in criticising some insurers for compounding the problem of inflated whiplash claims.
Jon Mainwaring joins Midas Underwriting
Jon Mainwaring has been appointed southern region broker development director at Midas Underwriting.
AJ Gallagher targets reinsurance expansion in Asia
Arthur J Gallagher (Singapore) is targeting 30% reinsurance premium growth this year as the broker promotes Maxwell Sung to managing director of reinsurance.
Deputy Mayor threatens to name insurers behind unpaid riot claims
The deputy mayor of London has threatened to “name and shame” insurers who have not settled claims following the 2011 London riots without sufficient justification.
Towergate network division has “gone backwards” admits Hodges
Towergate chief executive Mark Hodges has conceded that the broker’s network business has "gone backwards" this year, despite being bullish on the future of the division.
Keelan Westall aims to double broker club membership
Keelan Westall plans to increase membership of its Prestige Broker Club by 50% over the next year, and has its sights set on brokers generating more than £150 000 gross written premium.
CVC in exclusive talks over Domestic & General deal
Private equity house CVC is closing in on a deal to acquire home appliance insurer Domestic & General according to reports.
Aviva 'seeking India exit'
There are reports that Aviva is seeking to exit from its joint life insurer venture in India.
L&G reveals dramatic COR improvement
Legal & General has recorded a general insurance combined operating ratio of 81% for the first half of 2013 – an improvement from 99% year-on-year.
Esure sees H1 profits surge over 15%
Personal lines insurer Esure has reported climbing profits for the first six months of 2013, alongside a boosted combined ratio.
Towergate hit by £10m H1 loss after loan fee write-off
Towergate has reported a pre-tax loss of £9.9m for the first six months of 2013, in spite of boosted income and flat operating earnings.
Europe's floods hit Munich Re's profits in Q2
Munich Re's profits fell considerably in the second quarter compared to the same period in 2012 as it booked a huge cost for the recent European floods.
Herratt joins Cooper Claridge-Ware
David Herratt, former acting CEO of the Hong Kong office of broker Swiss Insurance Partners, has joined Hong Kong-based broker Cooper Claridge-Ware.