News
Supreme Court decision could save insurers £100m per year, claim Zurich fraud bosses
Zurich fraud bosses are confident of setting a "ground-breaking" precedent by which fraudulent third-party claimants are left empty handed, as part of a long-running legal battle which could save the industry £100m per year.
Speeding motorists face insurance premium hike
Insurers increasingly likely to charge higher premiums after a motoring conviction according to research by AA Insurance.
Hyperion defends move to sell majority stake in CFC Underwriting
Hyperion chief executive David Howden has denied speculation that the sale of the firm’s majority stake in CFC Underwriting could signal a greater focus on the broking arm of its business.
Money laundering reports published
The joint committee of the three European Supervisory Authorities (European Banking Authority, European Securities and Markets Authority and European Insurance and Occupational Pensions Authority) have published two reports on the implementation of the…
General Arabia Insurance assigned 'B+' financial strength rating
Jordan-based General Arabia Insurance Company has been assigned a 'B+' financial strength rating and 'BBB-' issuer credit rating by AM Best.
Hyperion denies strategic shift to broking amid IPO plans
Hyperion boss David Howden has denied analyst suggestions that the decision to part company with CFC Underwriting could herald a shift towards a broking focus in light of an upcoming IPO bid.
Property rates to keep rising in the short term
Despite the absence of a major natural catastrophe in the first quarter, rates rose for catastrophe and non-catastrophe exposed risks in most geographies, according to a Marsh report.
Euler Hermes boss rejects talk of Thomas Cook pull out
Euler Hermes director Mark Wyatt has denied reports stating that his firm has pulled its cover on Thomas Cook, insisting the business continues to write "significant levels of cover" for the travel company.
Nexus sees young Bahrainis as key to insurance growth
Independent broker Nexus is trying to recruit young Bahrainis, to encourage greater insurance participation in the region.
Former RSA boss Haste pockets £4.6m in 2011
Ex-RSA chief executive Andy Haste was paid a £500 000 golden goodbye after eight years in the position and despite his own decision to leave, according to The Guardian.
AIA Group rejects Singapore move to fee-based model
Proposals to end commission-based remuneration for insurers in Singapore have been criticised by one of Asia's largest insurance firms.
Reinsurance sector "strong" despite 3% drop in capital
Global reinsurer capital was down by 3% to $455bn (£286bn) last year, according to the Aon Benfield Aggregate analytics report, but the sector has been described as remaining strong.
Transactor boss revels in rising turnover and record acquisitions
Transactor Global Solutions is expecting to announce a combined group turnover of more than £6.5m following a year in which business acquisition reached a new high.
CIRC to tighten capital adequacy supervision
China's Insurance Regulatory Commission is to bolster its supervision of the insurance industry over the next few years to ensure that insurers are able to pay claims.
State-backed cover for Iran shipments likely, says Chinese shipping group
Government-backed insurance coverage for oil shipments from Iran is highly likely, according to China's largest sea-cargo carrier.
AM Best downgrades and withdraws Omega rating
AM Best Europe has downgraded Omega Speciality Insurance’s financial services rating from A- to B++ and withdrawn the ratings at the request of Omega Insurance Holdings.
CCV buys remainder of Capital & County
CCV has bought broker Capital & County outright after originally buying a 30% shareholding on 1 September 2008.
Mondial appoints ex-Allianz boss to launch health product
Mondial Assistance UK has appointed Phil Carr as new head of health services, leading the launch of a new homecare product.
Twenty years on: Impact of the Baltic Exchange attack
Today is the 20th anniversary of the Baltic Exchange blast in St Mary Axe in which three people died.
Coleman confirms Leighton Foster acquisition
Poole-based Coleman Group has confirmed it has acquired Exeter firm Foster Leighton.
India's foreign direct investment u-turn hits IPO plans
The Indian government's move to defer the easing of foreign direct investment in insurance will scupper the plans of large companies considering initial public offerings and may push consolidation, according reports in the Indian press.
Insure the Box claims telematics cut young driver accidents by 40%
The use of telematics to encourage better driving had reduced young driver accidents by as much 40%, according to Insure the Box after an analysis of more than 300 million miles of driving data.
One in seven have 'fronted' car insurance
One in seven drivers have 'fronted' on their car insurance policy, and almost a quarter think the practice is legal, according to a survey from aggregator Money Supermarket.
Cunningham Lindsey young gun wins CII award
Cunningham Lindsey assistant adjuster and major loss surveyor John Newnes has won the Cardiff Chartered Insurance Institute Young Achiever of the Year award.