News
Aviva sale of US life assurance business could raise £1bn
Aviva group chief executive Andrew Moss has allegedly revealed that the firm may consider offers worth around £1bn for its US life assurance business, according to reports in the FT.
Car insurance prices fall for first time in more than three years
The results of the Confused and Towers Watson car insurance price index for the first quarter of 2012 also reveal that the cost of comprehensive cover fell by 3.3% in the last quarter, with third-party, fire and theft premiums seeing a smaller decrease…
Quindell ups Ingenie investment to 19.7%
Quindell has acquired a further 16.4% of Ingenie, the insurance intermediary digital brand for young drivers, in exchange for £2.85m. The investment takes Quindell’s holding in Ingenie to 19.7%.
Insurer hails first ABI metal theft meeting a success
The Association of British Insurers and its members have held the first metal theft working group in a bid to find solutions to the escalating crime.
Free webinar: The property & casualty market in South East Asia
Post and Insurance Insight in conjunction with the Chartered Insurance Institute will present a free webinar on the property and casualty insurance markets in South East Asia today at 16:00 Hong Kong time and 8:00 GMT.
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.