News
Indian Reserve Bank says case for FDI hike exists
The Reserve Bank of India has said there is a case for raising the foreign direct investment cap in insurance in view of India's growing integration with the global economy.
Blanc reveals Newcastle has been tough for Axa, but hails improved PL connectivity
Axa Commercial CEO Amanda Blanc has admitted that Newcastle has proved the most testing of its recent branch openings.
China opens motor liability market to foreign insurers with immediate effect
Foreign insurance companies are now able to undertake the business of China's compulsory traffic accident liability insurance, according to an amended regulation.
Ace promotes Reid and Brown
Ace has made two promotions in its UK and Ireland region.
Lloyd's upbeat on prospects after low cats
Lloyd's has reported that a lack of catastrophes in the first quarter has left it on target for the year, and gave a positive outlook for growth.
Lloyds Bank makes further PPI payments of £375m
Lloyds Bank has announced that its payment protection insurance misselling has cost it a further £375m.
Cobra extends deadline for takeover bids
Broker Cobra has extended the deadline for its two potential bidders - Towergate and Alto - to make a formal offer for the group.
Private bidder eyes up Direct Line Group
The FT has reported that Edi Truell's new bid vehicle Tungsten has made an informal expression of interest to buy Direct Line Group, which analysts estimate could sell for up to £4bn.
Ex-Hiscox boss Ashley Cole launches new HNW business
Former Hiscox head of motor Ashley Cole has set up his own high net worth business, Aurum Underwriting, in the wake of his departure from the insurer.
IRDA asked to relax branch opening rules in rural areas
India's government has asked the country's insurance regulator to be more lenient when applying branch opening norms in rural areas in the hope that the presence of more insurance firms will increase insurance penetration.
IFIC appoints global sales director
International Fire Investigators & Consultants has appointed Richard Turner as UK sales director with effect from 8 May 2012.
Ace appoints former Mitsui manager Cole to risk control post
Ace has appointed former Mitsui Sumitomo casualty boss Jeremy Cole to the role of risk control account manager in the firm's UK and Ireland casualty risk engineering department.
Insurance Insight – top 10 stories
The top 10 most popular articles published on insuranceinsight.com over the past seven days.
China considering sovereign guarantees to keep oil flowing
China will review the possibility of sovereign guarantees to enable the nation's ships to import Iranian crude oil after EU sanctions come into effect in July, the head of the China Shipowners' Association has said.
Generali board confirms Galateri as chairman
The board of Assicurazioni Generali confirmed Gabriele Galateri di Genola as chairman at its shareholders meeting on Saturday.
US Solvency II equivalence suffers setback
The US National Association of Insurance Commissioners has been vocal in its opinion of the EU's aim to make the country a Solvency II equivalent.
India's GIC Re considering IPO
General Insurance Corp of India is believed to be considering an initial public offering.
Airline and aviation insurance turns a profit
The airline and aviation manufacturing insurance markets generated a profit in 2011 following one of the safest years in recent times, according to broker Willis Aerospace.
Airline insurance sector soars to first profit in five years
Profitability returned to the aviation and airline manufacturing insurance markets in 2011 following one of the lowest years for losses and passenger fatalities on record, according to Willis’ Aerospace.
China to broaden insurers investment scope
The Chinese regulator has said the country will broaden the investment scope of insurers and simplify approval procedures to boost the industry’s support to the nation’s economic growth.
Rolland from Amex to head LV's claims
LV has appointed Chris Rolland, pictured, as claims director to oversee all aspects of claims within LV's general insurance business.
Reinsurers weakened financially by 2011 catastrophes
Reinsurers are exposed to further major catastrophe losses during 2012, according to Fitch.
Non-life premiums to stay suppressed until 2015
Non-life premiums will not rebound to 2003 levels until after 2015, according to Ernst & Young's economic forecast.
Groupama goes dynamic on Open GI
Groupama is providing brokers with dynamic pricing on its motor quote engine through Open GI.