News
Euler Hermes ties up with Mapfre for Spain and Latin America push
Spanish insurer Mapfre and Allianz-owned credit insurer Euler Hermes have signed a 50/50 joint venture to develop their credit insurance business in Spain and four Latin American countries.
Deloitte reports growing number of insurers fear Solvency II delays
The latest edition of the annual Deloitte Solvency II survey shows that a rising number of insurers believe the industry will miss the January 2014 compliance deadline.
Innovation Group profits from insurance
Insurer software and services provider The Innovation Group has announced half year revenue up 10% to £94.8m (2011: £85.8m) and adjusted profit before tax up 16% to £7.3m (2011: £6.3m).
Zurich promotes two in global GI business
Zurich Insurance Group has named Swiss national Claudia Dill as chief operating officer for its general insurance business to replace Belgian national Dirk De Nil who becomes head of sales and distribution.
Minister Spelman hints at flood deal with ABI, rejecting pure risk-based pricing
Environment minister Caroline Spelman, pictured, has told the Association of British Insurers’ property conference that the idea of flooded households being left to fend for themselves is unacceptable.
Crawford to cull staff and six managers in three divisions
Crawford & Company could make up to six managers in its home, commercial and client teams redundant and axe a number of employees - less than a year since it cut 50 jobs.
Red 24 recruits German commander to tackle kidnap and ransom demands
Crisis management assistance company Red 24 has appointed Christopher Schramm as a crisis consultant specialising in kidnap for ransom and extortion, piracy and malicious product tampering.
HDI Gerling opens Singapore branch
HDI Gerling is opening a Singapore branch after obtaining a licence from the Monetary Authority of Singapore.
Ex-Oval sales director joins Aon
Oval's former general insurance sales director, Matthew Alcott, has joined Aon Risk Solutions as sales and marketing director for its UK business.
British Insurance Awards 2012 finalists to be revealed
The wait is almost over. Tomorrow Postonline will be the first place to discover the shortlist for the 2012 British insurance Awards.
"Dishonest" broker banned for second time
A broker who was barred from operating within Lloyd's more than a decade ago has now been banned from performing any regulated functions by the Financial Services Authority, after acting as the director of an Essex-based insurance broker without…
China banishes red tape for qualified foreign investors
China will work to speed up approvals of qualified foreign institutional investors looking to buy into its domestic securities, as part of reforms to add depth to the country's capital markets, Bloomberg News reported yesterday.
Coface recruits former Euler Hermes credit underwriter
Coface UK & Ireland has appointed former Euler Hermes underwiter Dara Hanley as senior underwriter based in Dublin.
Ace promotes Homan to executive VP, casualty
Ace Group has appointed Mark Homan as executive vice president, casualty, for Ace's international insurance operations.
Towergate says Cobra withdrawal shows it is financially disciplined and 'boring'
Towergate boss Mark Hodges has said the broker's withdrawal from the race to buy rival Cobra is a sign of Towergate's financial discipline.
GCC insurance expected to outperform GDP in near term
The Qatar Financial Centre Authority launched its first Gulf Cooperation Council insurance barometer at the 29th Global Arab Insurance Federation Conference in Marrakech today.
Regulation of loss adjusters in the spotlight again
The European Insurance and Occupational Pensions Authority has advised that regulation of those fulfilling the "claims" aspects of insurance contracts would be part of Insurance Mediation Directive 2.
Kennedys promotes Hong Kong partner West to global partnership
Kennedys has promoted Hong Kong partner Mark West to the global partnership, as well as promoting four solicitors to partners in the UK as of 1 May.
Xchanging appoints new global sales director for insurance
Business services provider Xchanging has named Mike Reynolds as global sales director of insurance with immediate effect.
Ombudsman blames rise in motor insurance policy complaints on recession
The 26% increase in motor insurance complaints from consumers in the past financial year is "likely to reflect the tougher economic times", according to the Financial Ombudsman Service.
Riot compensation scheme 'not fit for purpose'
The Association of British Insurers has called for an overhaul of the law that provides for compensation to be paid to the victims of riots.
Ombudsman reports 51% increase in PPI complaints
Complaints to the Financial Ombudsman Service about payment protection insurance increased year on year by 51%, and accounted for 60% of all new cases in 2011/2012.
Broking holds back Towergate in Q1
Towergate Insurance's Q1 figures show that its broking business suffered as overall group income was up 2% to £105.5m (2011: £103.3m) and group operating earnings were up 9% to £34.3m (2011: £31.4m).
TL Dallas chairman Colin Dallas dies
Bradford broker TL Dallas Group chairman Colin Dallas has died at home after a long illness.