News
Impact study likely to cause further SII delay
The implementation of Solvency II faces further delay due to the launch a long-term guarantees assessment impact study by the European Insurance and Occupational Pensions Authority, KPMG has warned.
Machell to leave Aviva; AIA veteran lined up as successor in Asia
Simon Machell, chief executive of higher growth markets, Aviva is to leave the company at the end of February.
Insure The Box cuts third party providers from telematics
Insure The Box has become the first UK insurer to create its own in-house telematics platform in a bid to reduce costs and improve customer service.
Lemma Insurance Europe policies disclaimed
The Supreme Court of Gibraltar has passed an order winding up Lemma Insurance Europe and appointing Frederick White, of Grant Thornton, as liquidator.
NIG updates e-trading platform with launch of 'The Hub'
Commercial insurer NIG has launched a full-cycle e-trading platform for commercial brokers, following recent investment in technology.
Trade body welcomes Eiopa revisit of long-term guarantees
The European Insurance and Occupational Pensions Authority has launched a technical assessment to find the most appropriate treatment of long-term guarantees under the forthcoming Solvency II regulations.
P&C insurers better placed than life firms to weather economic storm
Property and casualty insurers are better positioned to withstand a slow growth environment compared to life insurers, which will be more impacted by the weak global economy given they are mainly "discretionary" purchases and the low interest rates,…
L&G offers group discounts on premium
Legal & General has claimed to be the first major insurer in the UK to offer group discounts on home insurance.
Weak economy to hurt commercial lines more than personal, says Moody's
The outlook for property & casualty insurers is stable in 2013, despite macroeconomic conditions, Moody's said today.
Aspen launches ‘plain English’ goods-in-trade policy
Aspen Risk Management has launched a worldwide goods-in-transit policy, which it claims has been written in ‘plain English’.
Premium taxes soar across Europe
Insurance premium taxes are rising all over Europe as pressure from finance deficits and a worsening economic outlook hits home, according to the Insurance Underwriting Association.
Towergate ties-up trio of acquisitions
Towergate has taken its total number of acquisitions so far in 2013 to three.
Hill Dickinson swoops for DLA Piper Sheffield and Manchester practice
Law firm Hill Dickenson has picked up the majority of DLA Piper’s defendant insurance practice in Sheffield and Manchester.
GI firms valued upwards of £100m drops 15% in 2012
The number of general insurance companies valued at over £100m dropped by almost 15% last year, according to research carried out by industry advisory firm IMAS.
Outlook for global reinsurers stable but pricing to stagnate, says Fitch
The outlook for the global reinsurance sector remains stable, as capital, underwriting and operating trends are expected to support reinsurers' ratings over the next one to two years, according to Fitch.
Argo hires general liability underwriter from Besso
Argo International, the Lloyd’s insurer and member of Argo Group, has appointed Vanessa Lampard as an underwriter in its general liability team.
Eiopa launches LTGA consultation
The European Insurance and Occupational Pensions Authority launched today a technical assessment of the long-term guarantee package agreed by the European Parliament, the Council of the EU and the European Commission in the context of the Omnibus II…
Worsening economic outlook pushes up IPT
Several governments across Europe have ramped up insurance premium tax rates in response to finance deficits and a worsening economic outlook, research has shown.
Argo International looks to Besso for underwriting director
Argo International has recruited Besso’s director of underwriting to serve in its general liability team.
Covéa hands head of financial crime role to ex-police chief
Covéa Insurance has appointed Steve Jackson, former senior fraud manager at Zurich as head of financial crime.
Axa Assistance marks roadside recovery deal with Footman James app
Axa Assistance UK has developed a smartphone application offering breakdown assistance for Footman James customers.
Morgan Stanley linked to Paymentshield sale
Towergate has asked Morgan Stanley to help find a buyer for Paymentshield according to reports.
Admiral in Lyons Davidson acquisition talks
Motor insurer Admiral is in talks to purchase law firm Lyons Davidson according to press reports.
Fire and natural catastrophes top business concerns in Asia, says Allianz
Business and supply chain interruption caused by natural disasters is the number one risk faced by companies in Asia according to the Allianz Risk Barometer 2013.