News
Coface "not a strategic asset" says Natixis chief
French bank Natixis does not expect to put Coface up for sale but would consider reducing its stake in the credit insurer, chief executive Laurent Mignon reportedly told a shareholders meeting on Tuesday.
Ex-Brit director joins Prosight board
Lloyd's coverholder Prosight Specialty Underwriters has appointed former Brit board member Peter Goddard as a non-executive director.
ABI responds to Scottish criticism of 'disproportionate' Flood Re
The Association of British Insurers has denied accusations that the introduction of its ‘Flood Re’ model would be “bad news for Scotland”.
Gibraltar's insurers reap benefits of UK's growing motor market
Gibraltar’s motor insurance market is projected to achieve a compound annual growth rate of 14.1% towards 2017, according to research firm Timetric.
Moody’s: Solvency II volatility may deter investors
Potential investors in the insurance industry may be turned off by expected volatility in European insurer’s solvency ratios according to rating agency Moody’s.
CFC calls industry to tackle cyber crime
Underwriting agency CFC has called for the insurance industry to be aware of the regularity of cyber-attacks suffered by SMEs.
XL appoints Daucourt as head of international P&C
XL has appointed Thierry Daucourt as chief operating officer of its international property and casualty business.
Solvency II could increase cost of capital for insurers says Moody’s
The increased volatility of Solvency ratios under the new Solvency II guidelines may reduce investor appetite and increase the cost of capital for insurers, according to Moody’s
Hill Dickinson fraud model attracts new insurer subscribers following Q1 success
Hill Dickinson fraud unit bosses claim they have delivered a 122% increase in suspect claim identification to insurer clients in the opening quarter of the year, as a result of the firm’s fraud risk profiling model.
UK motor COR improves but premiums expected to fall in 2013
The UK motor market saw its collective combined ratio improve slightly to 105% over the course of last year, but Deloitte has warned the market is only likely to become more competitive.
Bennetts unveils classic bike cover
Bike insurer Bennetts is to expand its offering to include cover for classic motorcycles online.
Clements creates insurance marketplace for UN staff
Clements Worldwide has launched a web-based marketplace, to provide insurance protection to the United Nations Federal Credit Union’s 100 000 members.
London P&I Club reports boosted reserves after “mixed” year
The London P&I Club saw reserves increase after generating a surplus of $9.4m across all classes in the financial year 2012/13.
Biba conference 2013: News round-up
This year’s British Insurance Brokers’ Association conference attracted more than 4750 brokers and 168 exhibitors to the Excel Centre in London’s Docklands.
ProSight Specialty Underwriters appoints non-exec director
Lloyd's coverholder ProSight Specialty Underwriters has appointed Peter Goddard as a non-executive director with immediate effect.
P&I Club anticipates "most expensive year" for International Group pool
The London P&I Club’s result for the 2012/2013 financial year was a surplus across all classes of $9.4m, increasing the free reserve to $154m.
£683bn share protection gap at UK businesses: L&G
One million UK businesses are at risk of a shortfall due to a lack of share protection cover according to Legal and General.
Capita shares recipe for successful MGAs
Capita Insurance Services’ executive director, John Holm, shared the lessons learnt with existing and would-be MGA management about the most effective structural components and the financing methods for new and evolving MGAs.
Over $2bn of property damage from Oklahoma tornado
The devastating tornado which struck the Oklahoma suburb of Moore on Monday (22 May) in the US has damaged property to a total replacement value of up to $6bn within a two mile radius of the storm’s path.
Flood clauses to be added to Water Bill as minister hints at ABI agreement
Environment minister Richard Benyon has suggested that additional clauses will be inserted into the government’s upcoming Water Bill, in order to serve as a legislative vehicle for the implementation of the Association of British Insurers’ ‘Flood Re’…
Ex-Zurich boss Hanson joins Ageas as marketing director
Ageas has appointed Mark Hanson as marketing director for its two over 50s insurance brands, Rias and Castle Cover.
Premium Credit names retail broker boss
Premium Credit has promoted its national and key accounts manager is a bid to bolster its retail broker business.
Helphire ABS licence within reach as application reaches final stage
Helphire's alternative business structure has reached the "final stage" according to chairman Avril Palmer-Baunack
Brokers selling add-ons contacted by FCA as regulator begins crackdown
Signs the Financial Conduct Authority’s scrutiny of insurance add-ons is underway have been witnessed by brokers that have already been contacted by the regulator.