News
Loss adjusters excluded from latest IMD2 draft
The direct regulation of loss adjusters and claims management firms has been dropped from the second draft of the Insurance Mediation Directive by the European Commission, Post has learnt.
Jolly Nero owner not expected to make hull claim
Indications that the owner of Jolly Nero, the ship that crashed into the port in Genoa a fortnight ago, does not expect to make a hull and machinery claim has come as a surprise to the market.
Tim Ablett passes away
The much respected insurance veteran Tim Ablett passed away at the weekend.
BIBAFever Episode Four: Children Versus Biba – the final word on the 2013 conference
The British Insurance Brokers’ Association (Biba) conference may be over for another year, but Insurance Age and Post have teamed up with LV to bring you the final word on the event with the fourth episode of #BIBAFever.
Am Trust targets solicitors' PI market
Am Trust Europe is offering professional indemnity cover to solicitors firms of four to 10 partners for the first time after striking an exclusive deal with Howden Windsor.
VIG increases profit but posts fall in premium in Q1
Vienna Insurance Group increased profit before taxes by 5.2% to €159.4m in the first quarter of 2013.
Xchanging consolidates offices in Malaysia
Insurance technology firm Xchanging has consolidated its presence in Malaysia by relocating all its staff into a new office in the capital Kuala Lumpur.
Eiopa seeks enhanced powers over large cross-border insurers
The European Insurance and Occupational Pensions Authority has outlined its desire for enhanced supervisory powers over insurance activities in European Union member states.
Kiln names former KPMG UK boss as non-exec
Kiln has recruited KPMG’s former UK chief executive to take a seat on its board, leading the insurer’s audit risk and compliance committee.
Co-op Bank recruits ex HSBC banker for chief exec role
The Co-Operative Group has recruited HSBC’s former North American chief executive to revive the fortunes of its banking operation, while the Co-op's group's CEO has conceded "there is much work to be done".
Philippines wins disaster recovery award
The Philippines has won an award from the Arabian Travel Market for successfully bouncing back from the devastation of typhoon Bopha (or Pablo) in December 2012.
Indian reinsurer eyes Lloyd's
India's national reinsurer General Insurance Corporation wants to buy a Lloyd's syndicate to significantly expand its presence globally.
China Taiping in 10bn yuan restructure
In order to raise more capital, China's fifth largest insurer China Taiping Insurance Holdings has bought assets from its parent.
Coronavirus claims 18 lives in Saudi Arabia
The coranavirus, which is similar to Severe Acute Respiratory Syndrome, has caused the deaths of 18 people in Saudi Arabia.
Uninsured drivers in Ireland increase premiums by €40
Motor group the AA has found in a survey that 7% of drivers are hit by uninsured drivers in the Republic of Ireland.
Insurers urge Queensland to reconsider stamp duty rise
The Insurance Council of Australia wants Queensland's government to reconsider its 1.5% stamp duty increase on insurance products.
Ace to open office in Myanmar
Insurer Ace is planning top open a representative office in Myanmar by the end of the year.
Hong Kong government eyes more control over health insurance
The Hong Kong government wants to increase coverage and regulation in the sector.
Private Indian insurers can operate overseas
The Insurance Regulatory Development Authority in India is opening up the door from Indian insurers to have overseas operations.
Airlines to face claims after fire causes delays at Heathrow
Airlines operating out of Heathrow could face substantial claims if current delays affect tomorrow’s flights.
Triple merger takes its toll on Covea's 2012 pre-tax profit
Covea Insurance saw its pre-tax profit plummet by almost 50% last year, as merger activity took its toll on the firm’s full year results.
RSA acquires Aon’s Irish PL business
RSA has struck a deal to purchase AonInsure.ie, a personal lines price comparison site operated in Ireland by broking giant Aon.
RSA acquires Aon's Irish personal lines business
RSA Insurance Ireland has acquired Aon's Irish personal lines business.
City law firm EC3 Legal establishes real estate practice
EC3 Legal has launched a new real estate practice to support brokers, Lloyd’s agencies, managing general agents and other support providers in the insurance sector.