News
Reinsurers to diversify more cautiously after 2011 cat losses
Reinsurers should tread with caution when looking to diversify their operations as increased exposure in natural-catastrophe prone regions could leave them open to large losses, Standard and Poor’s said today.
Houghton joins JM Glendinning
Nick Houghton, who stepped down as managing director of Broker Network last week, has joined Broker Network member JM Glendinning as MD.
Dubai Group sells Turkish non-life insurer
Dubai Group has sold its Turkish insurance arm to a company owned by former AIG chief executive Maurice 'Hank' Greenberg and a unit of Dubai lender Mashreq Bank.
Zurich personal lines MD resigns
Zurich personal lines managing director Karl Bedlow, pictured, has resigned from the firm with immediate effect.
Credit pressures yet to trigger flight to quality among reinsurance cedants
Insurers are yet to flock towards the highest rated reinsurers despite challenges facing the reinsurance industry, according to Standard & Poor's.
Elite targets £3m premium with solicitors' PI proposition
Legal expenses provider and general insurer Elite Insurance has extended its specialist portfolio of services for the legal sector by launching professional indemnity insurance for solicitors.
Reinsurer capital tops $480bn, says Aon Benfield
The broker estimates that total capital for the global reinsurance industry reached record levels at the end of June 2012.
Abbey Protection aiming for early 2013 ABS launch
The commercial legal expenses provider is hoping to get approval in the final quarter of this year, targeting small to mid-size SMEs.
Financial loss 'poorly understood', warns IUA
Insurers currently offering financial loss coverage as an extension to traditional liability policies are not aware that the term 'financial loss' is void of technical legal meaning, a report has found.
Ace poaches Zurich's surety head
Ace has recruited Zurich head of credit and surety Luc Reuter to drive the expansion of its surety division into continental Europe.
KPMG demands clarity on Solvency II start date
KPMG's insurance director has called for a definitive statement on the Solvency II implementation date following the European Parliament's decision to defer the vote on the proposed Omnibus II amendments.
Quindell to support substantial growth with further outsourcing deals
Quindell chief executive Rob Terry is targeting bottom line growth of up to 25% over each of the next five years, after his firm increased revenue from £1.8m last year to £45.6m in the first half of 2012.
SS&C launches customisable Solvency tool
SS&C Technologies has launched CAMRA I-Risk, a tool for insurers to address emerging Solvency standards by combining financial reporting capabilities with a position-based stochastic simulation model.
PICC could delay Shanghai listing
People's Insurance Company (Group) of China may seek as much as $3bn in an initial public offering in Hong Kong in October or November while postponing a Shanghai listing, Bloomberg news has reported.
Talanx primed for autumn IPO if market remains stable
German insurance group Talanx is planning an initial public offering this autumn after putting its long-held ambitions on the back burner earlier this year.
Webinar - 6 September, 3:00pm: Analysing emerging fraud trends
As legislation and industry initiatives make conventional types of fraudulent claims more detectable, insurance fraud is constantly taking new forms.
Kiln bolsters European operation with Frankfurt hire
Specialist insurance and reinsurance underwriting group Kiln has appointed a new property underwriter in Frankfurt.
New regulator to outlaw commission sales
Commission-based sales of financial products will be outlawed by the Financial Conduct Authority when it comes into force next spring.
Kiln brings in property underwriter to support Europe focus
Kiln has recruited a new property underwriter in Frankfurt to write a range of property and facultative risks across Europe.
Autonet joins The Insurers' car insurance panel
Autonet Insurance has joined the car insurance panel with UK comparison site The Insurers, adding to its existing presence on the van and bike panel with the aggregator.
Miller non-exec joins Direct Line Group board
Clare Thompson, a non-executive director on Miller's partnership board, is to join Direct Line Group's board in a similar role.
Bourgeois appointed Coface MD for UK and Ireland
Frédéric Bourgeois has been appointed managing director of Coface in the UK and Ireland as Xavier Denecker retires.
Groupama names bike underwriter
The French insurer has expanded its development team with the appointment of a new specialist motorcycle underwriter.
Russian insurers agree to follow Acord standards
A number of Russian insurers have agreed to work together to implement the standards of global non-profit research operation, the Association for Cooperative Operations Research and Development.