News
Competition to heat up in housing market
Ernst & Young has predicted that the household insurance sector will produce a combined operating ratio of 95% in 2012, despite this summer's flooding and other variable weather throughout the year.
QBE scales back profit margin estimates as Sandy losses swell
Global insurer QBE has estimated its insured losses from super storm Sandy will be between £220.4m ($350m) and £283m ($450m).
RSA on alert after man appears in court a year on from M5 crash
RSA will "continue to monitor matters closely" after the provider of a fireworks display at Taunton Rugby Club was charged with seven counts of manslaughter following a pile-up on the M5 last November.
Superstorm Sandy: direct wind not to blame for buildings damage
Damage from storm surge and flooding caused by superstorm Sandy is widespread and extensive, but there is only minor damage to buildings from direct wind, according to a report released today by Willis Re.
Groupama launches group PA and travel quote facility
Groupama Insurances has added an online quotation facility for group personal accident, illness and business travel cover to broker extranet Optima Online.
Charles Taylor to buy life business in £1.55m deal
Charles Taylor is to acquire Global Life Assurance Limited from Pinnacle Company Limited for £1.55m.
Petroleum and gas secretary front runner in IRDA chairman race
Girish Chandra Chaturvedi is being tipped to take the helm of India's Insurance Regulatory and Development Authority when the term of current chairman J Harinarayan comes to an end early next year.
Kwik-Fit Insurance launches insurance product for learner drivers
Kwik-Fit Insurance has launched a motor insurance product aimed at drivers on a provisional licence.
"Allianz shareholders are happy," says Torrance despite COR deterioration
Allianz UK chief executive Andrew Torrance has called the insurer's retail non-motor combined operating ratio of 101.7% for the first nine months of 2012 a "decent result" given recent poor weather.
Axa unveils legal service for SMEs
Axa Commercial Lines and Personal Intermediary has launched a legal, regulatory and compliance service as standard on its management liability product.
CILA appoints first female deputy president
Candy Holland, managing director of JLT subsidiary Echelon Claims Consultants, has been appointed deputy president of the Chartered Institute of Loss Adjusters.
Germany-based businesses more likely to succeed, says Coface report
Corporate insolvency laws, profitability and stable sources of funding are among the reasons German companies are less likely to fail than those based in France, a Coface report has found.
PICC IPO valuation hits $20.8bn
People's Insurance Co (Group) of China is planning a listing that will value the state-owned insurer at around $20.8bn, according to a Market Watch report.
Covéa reveals executive team line-up
Covéa Insurance, the business created from the merger of MMA Insurance and Provident Insurance, has confirmed the members of its executive team.
Covea unveils new look executive team
Covea Insurance has confirmed the line-up of the executive team charged with leading the business following its creation via the merger of MMA and Provident.
UIB appoints ERC divisional director
United Insurance Brokers has named Lachlan Munn as divisional director of Engineering Risk Consultants.
Liberty Mutual names Marsh broker as Scotland lead
Commercial lines underwriter Liberty Mutual Insurance has recruited Caroline Inglis to head up a new Scottish operation.
Allianz CEO Torrance blasts 99.1% COR as 'unacceptably poor'
Allianz UK's commercial lines combined operating ratio deteriorated to 99.1% for the first nine months of 2012 from 95.1% in Q3 2011 as the retail non-motor COR worsened to 101.7%.
Faraday renews Pro contract for another three years
Tawa subsidiary Pro insurance has renewed a deal to provide underwriting support to Faraday.
Catlin sees increase in GWP
Catlin's International underwriting hub saw gross written premiums increase 17% to $727m.
AIG brand is back, declares Benmosche
American International Group, has declared that AIG is once again the “go-to-market brand” of its global property casualty business, which had been rebranded as Chartis in the wake of its near-collapse in 2008.
UIB recruits ex-BP manager as engineering lead
Reinsurance broker UIB has named former BP engineer Lachlan Munn as divisional director of its Engineering Risk Consultants business.
Catlin GWP grows 11% as Sandy-hit New York office remains closed
Catlin reported an 11% increase in gross written premium to $4.08bn in the nine months to 30 September 2012 compared with the same period in 2011 (9m 2011: $3.68bn).
Arig logs profit in Q3
Arig has announced a net profit of $10.3m nine months into 2012.