News
Catlin to open Beijing office
International speciality property and casualty insurer and reinsurer Catlin has been granted approval by the China Insurance Regulatory Commission to open and operate a wholly owned representative office in Beijing.
Chubb's A++ financial strength rating affirmed
AM Best has affirmed the financial strength rating of A++ (Superior) and issuer credit rating of AA+ for the Chubb Group and its property/casualty members.
Firms still failing to focus on supply chain resiliency
Despite a number of wake-up calls from last year's catastrophe events, many organisations still lack complete visibility into their supply chains and remain vulnerable to the next disaster, according to a white paper published today by Marsh.
Market moves: Canopius and CGSC dominate appointments
This week the recruitment space belonged to Canopius and Cooper Gay Swett & Crawford. Canopius restructured its entire executive committee, alongside appointing an underwriter, while CGSC recruited a new chief commercial officer, head of operations and…
Brokers back potential DLG flotation citing interest in share options
NIG brokers have responded positively to the Direct Line Group split from RBS, some even raising the issue of potential share options if the group's mooted initial public offering bid is successful, the insurer has claimed.
Zurich campaign to abolish damages for fraudsters draws industry support
The potentially ground-breaking decision by Zurich fraud bosses to take their fight to refuse payment on the genuine element of a fraudulent third-party claim to the Supreme Court has drawn praise from industry peers.
Battle for broker schemes hots up as players bolster ranks of expertise
Specialist insurer Ecclesiastical has secured four new broker schemes, just weeks after pledging to refocus its efforts on intermediary deals, as insurers scramble to pick up lucrative broker schemes.
Price-comparison model questioned as Admiral casts off Italian Chiarezza
Admiral's sale of its Italian aggregator Chiarezza on Monday demonstrates a failure adequately to invest in overseas ventures, and further withdrawal from European aggregators is a possibility for the insurer, according to one analyst.
RSA merges Belfast and Europa General in £5m NI investment
RSA is to merge its existing Belfast and Europa General operations as part of a £5m investment in a new business model for the Northern Ireland market.
Fico launches new model management tool for insurers
Analytics provider Fico has launched a management system aimed at improving the return on investment for predictive models used in insurance.
Admiral sells Chiarezza to BlackFin Assurance
Admiral has sold its Italian price comparison venture to BlackFin Assurance Courtage.
Knipper to succeed Mayr as CEO of Axis Re Europe
Bermuda-based Axis Capital will make changes to its European management team over the course of 2012.
Aviva extends NCFC sponsorship
Aviva is set to sponsor Norwich City Football Club for a further four years – the longest main sponsorship deal in the club's history.
Which? findings 'little surprise' to Drain Claim
Following a report released yesterday by Which? revealing the £100m cost of "unnecessary" water pipe insurance, Drain Claim said it is "wholly unfair" for water companies to be pushing third-party insurance onto customers.
OFT to hold meeting with credit hire industry
The Office of Fair Trading is to meet with a host of credit hire companies on Tuesday as part of its market study into the rising cost of motor premiums.
Aviva pays Accident Exchange "seven figure" settlement
Aviva has paid credit hirer Accident Exchange a "seven figure" out-of-court settlement after using "dishonest" Autofocus evidence to reduce its hire charges.
Setanta chief returns to industry as business solutions boss
The former chief executive of Setanta, Mike Matthews, has reprised his role as CEO of business solutions provider Sevitt almost a year after he left the Irish insurer.
Maritime industry faces difficult year
The marine insurance market is in flux in the aftermath of Costa Concordia, according to the latest Willis marine market review.
Microinsurance extended to Nepal's rural poor
A microinsurance scheme for Nepal's rural poor is to be established next month, according to local paper The Himalayan Times.
Globaleye recruits new MD from Noor Takaful
International wealth management company Globaleye has appointed Jawaid Tabassum as general manager for its general insurance and employee benefits department in the United Arab Emirates.
RSA chief to target 'smallish' opportunities outside the UK
RSA boss Simon Lee is eyeing growth outside the UK with the acquisition of a number of "bolt-on" businesses, while also suggesting he is not ready to launch a big money raid anytime soon.
Talbot appoints new MENA CEO
Talbot Underwriting MENA, formally known as Underwriting Risk Services (Middle East), has appointed Matthew Warren as chief executive.
Talbot appoints Warren CEO for MENA
Talbot Underwriting has appointed Matthew Warren as chief executive of Talbot Underwriting (MENA), formally known as Underwriting Risk Services (Middle East).
Liability insurance needed for China's food industry
A Chinese official has called for the piloting of mandatory liability insurance for the country's food and beverage industry.