News
Post webinar: Professionalism and expertise: The case for Chartered status
As the Chartered Insurance Institute celebrated the second anniversary of the launch of the Aldermanbury Declaration, this webinar brought together a host of insurers that have embraced 'Chartered' status, to find out what it has meant for their business…
Swiss Helvetia profit down 15.4% due to non-life business
Swiss insurer Helvetia has posted a profit of CHF289m (€239m) and generated sales of more than CHF7bn for the first time.
Indian insurers delay reinsurance treaties as primary premiums harden
Indian general insurers have delayed finalisation of the reinsurance treaties for the next financial year, according to a new report.
China unveils latest motor market liberalisation move with premium setting plan
The China Insurance Regulatory Commission is to allow some qualified insurers to set terms and premium rates for private motor insurance.
Mapfre expects 6% revenue increase in 2012, as 2011 rises 3.2%
In 2011, Mapfre achieved a net result of €963m, a 3.2% rise on the 2010 full year results.
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.
Talent poll
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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.