News
Gable reports UK ATE growth
Lichenstein-based AIM-registered insurer Gable Holdings has reported accelerated growth across its European territories with UK growth in after-the-event insurance and the launch of a commercial combined product.
Policyholders struggle to pay soaring voluntary excesses
Axa has warned drivers against pushing up excess levels in order to reduce premiums as growing numbers struggle to meet payments.
US targets insurers of Iran deals
Companies that insure trade with Iran would be cut off from the US financial system under legislation aimed to further target Tehran's nuclear programme.
Fitch says insurers to cope with Greek debt
Credit rating agency Fitch has said insurers will not be hit by the Greek debt swap as they have already written down their holdings in anticipation of the deal and would be able to cope with further losses on Greek sovereign bonds.
Flood insurance withdrawal could spark negligence claims against conveyancers
Professional indemnity insurers may face a barrage of claims from home buying advisers such as conveyancy lawyers and mortgage sellers when the ABI Statement of Principles on flood insurance ends.
Mapfre's new chairman predicts growth
Antonio Huertas has said the Spanish insurer expects to achieve revenues of more than €25,000m in 2012, equivalent to a 6% increase, in a year that will be "hard" and "demanding".
'Debt-free' Coface enjoys turnover boost
Credit management solutions business Coface has reported it was "entirely debt-free" in 2011.
Insurers face £72m Australian flood losses
Insurers are anticipating losses of £72m and at least 5000 claims from the Australian floods, according to Risk Management Solutions.
Greek debt swap manageable for European insurers
Insurers have written down Greek sovereign debt in line with falling market prices, according to Fitch.
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Direct Line Group reviews loss adjuster panels
Direct Line Group has asked loss adjusters on its current panels to submit new prices for work ahead of the existing contracts expiring in July.
Quindell recruits CGU/NU IT merger expert
Acquisitive Quindell Portfolio has appointed the man who oversaw the GA/CGU/Norwich union IT integration, Dave Peffer, to bring together its recent purchases into a single service.
CILA to launch internship programme
The Chartered Institute of Loss Adjusters is marking the 50th anniversary of its Royal Charter by launching a new internship scheme.
Repair costs for imported cars to drop in South Korea
Repair charges for imported cars are expected to come down as South Korean non-life insurers make a deal with foreign carmakers after their decision to reduce insurance premiums for drivers by 2%.
Asia-Pacific reaches 3.3 million HNW overtaking Europe
Asia is now second only to North America in the number of high net worth individuals, and this continues to rise by 10% year on year, according to a new report.
No rating impact on QBE after HSBC acquisitions
QBE Insurance Group's ratings will not be affected by the proposed acquisition of HSBC Holdings' general insurance businesses in Argentina and Hong Kong.
McNamee takes Chartis commercial role
Chartis has named Jacqueline McNamee as executive director, commercial lines UK, heading up the property, casualty, financial and speciality lines businesses, including aviation and marine.
Momentum to use RWA for compliance
Momentum, a newly appointed representative network for broker start-ups, has partnered with RWA Compliance Services to ensure regulatory compliance.
Geneva Association warns of 2011 repeat
More people will live in large urban areas and be hit by extreme events like those seen in 2011, the Geneva Association has warned.
County Insurance boss lines up early acquisition delivery
Ambitious north west broker County Insurance could be in line to deliver on its five-year plan of landing ten acquisition targets ahead of schedule, with two early purchases expected to be tied up within two months.
Aviva eyes commercial improvements by dropping underperforming lines of business
David McMillan, Aviva UK general insurance chief executive, remains confident his firm can recover from a "challenging" year in terms of commercial business, following the decision to drop a number of underperforming lines of motor business.
US targets global insurers with growing Iran sanctions
US lawmakers plan to introduce legislation that would extend the remit of sanctions on trading with Iran to global insurers, according to Reuters.
Generali sells 69.1% of Israeli Migdal for €835m
The Generali Group has agreed to sell its entire 69.1% holding in Migdal Insurance and Financial Holdings to Shlomo Eliahu, founder and controlling shareholder of the Israeli financial Group Eliahu.
XL Group recruits AGCS risk head
XL has appointed Roland Brandt as property underwriting manager for risk management, analytics and innovation for the international region.