News
Mitsui Sumitomo strengthens construction arm with Burgess appointment
Mitsui Sumitomo at Lloyd's has strengthened its commitment to the UK construction market by appointing Adrian Burgess as underwriter.
Swiss Re seeks approval for dividend increase to €2.48
The Swiss Re board of directors has proposed the approval of a dividend for 2011 of CHF3.00 (€2.48) per share and the election of Robert Henrikson to the board.
Cobra to cut costs in holding company
Retail and wholesale insurance broking group Cobra is to continue to focus on core revenue areas while carrying out a cost reduction programme in relation to its holding company and overhead costs in order to reflect the smaller size of its operating…
Insurers still wary despite Solvency II deal ahead of vote next week
The European Parliament's two biggest parties have tentatively agreed to include measures related to Solvency II legislation that could save the industry billions and avoid a long delay to the rules' implementation, according to reports.
Groupama CEO reaffirms employees and policyholders despite £1.5bn net losses
Groupama chief executive Thierry Martel has blamed "adverse market conditions" on huge capital losses, attributing the group's net result of a loss of almost €1.8bn (£1.5bn) to the Greek debt crisis.
Groupama targets commercial e-trading push with trades launch
Groupama has revealed its intention to corner the commercial e-trading market with the launch of its 'miscellaneous trades' facility for Optima Business Plus.
Cat price rises inadequate, says Canopius
Canopius executive chairman Michael Watson has said that tenfold increases in premiums in Thailand have been exceptions, and complained that insurers have not done enough to raise rates across the board.
Apil issues justice warning despite Laspo bill exemptions
A decision by the House of Lords to exempt victims of industrial disease from the proposals for 'no-win, no-fee' in the Legal Aid, Sentencing and Punishment of Offenders Bill has been welcomed by the Association of Personal Injury Lawyers.
China loses out as Mapfre targets more 'liberal' Asian countries
China's hostile environment for foreign investors has led Spanish insurer Mapfre to seek acquisition targets elsewhere in Asia in order to expand within the region.
Solvency II unlikely to spark wave of relocations, says Fitch
Solvency II is unlikely to lead to a wave of European insurers moving their headquarters out of Europe as a result of concerns about third-country equivalence, particularly for the US, ratings agency Fitch has claimed.
Solvency II will not spark relocation, says Fitch
Solvency II is unlikely to lead to a wave of European insurers moving their headquarters out of Europe because of third-country equivalency concerns, Fitch Ratings has said.
Boards need to wake up to cyber threats
Company directors must wake up to cyber threats or risk litigation from all sides, according to Francis Kean of Willis Group Holdings.
Boards urged to wake up to cyber threats and liabilities
Company directors must wake up to cyber threats or they risk litigation from all sides, according to Willis.
Aon Risk Solutions appoints ex-JLT man Marshall as power leader
Aon Risk Solutions has confirmed the appointment of former JLT employee Darren Marshall as power construction leader.
Aon extends power team with recruit from RK Harrison
Aon Risk Solutions has appointed Darren Marshall as power construction leader.
Canopius tumbles to first ever loss
Lloyd's insurer Canopius has announced its first ever loss – of £64m before tax (2010: profit of £40m) with catastrophes adding 24 points to its combined ratio bringing it to 111%.
Groupama CEO blames Greek debt crisis for £1.5bn net losses
Groupama chief executive Thierry Martel has blamed "adverse market conditions" on huge capital losses, attributing the group's net result of a loss of almost €1.8bn (£1.5bn) to the Greek debt crisis.
Auto traders distribute over 50% of motor premiums in emerging markets
Motor insurance is one of the most important components of non-life in emerging markets, according to recent research by Finaccord.
Scor IDS upgraded to A+
French reinsurer Scor has had its long-term issuer default rating and insurer financial strength ratings upgraded by Fitch, owing to its strong solvency and moderate debt in relation to its risk profile.
London tops KPMG report for investment
KPMG's Global Cities Investment Monitor has shown that London remains the top city in the world for foreign investment.
Insurance bosses invited to discuss common standard for telematics
Executives from some of the UK's biggest insurance firms will sit down next month to discuss the formulation of a common standard for issues surrounding telematics data ahead of an expected boom in demand.
Arista expands with two Birmingham hires
Arista Insurance has appointed Paul Smith as senior fleet underwriter and Amanda Jones as fleet underwriter to its Birmingham office.
EU may exempt liability insurers from Iran sanctions
The European Union is considering relaxing rules on indemnifying Iranian tankers, to allow insurers to provide cover for third-party and environmental liability.
Car insurance tops web search queries
Quarterly research by Greenlight found insurance-related searches in January totalled 1.9 million, down from more than 2.3 million in October 2011, but car insurance searches leapt.