News
Global reinsurance capital declined by 4% in the first nine months
Global reinsurer capital declined 4% from $470bn at 31 December 2010, to $450bn at 30 September 2011, according to an Aon Benfield report.
Test Achats prompts gender consultation
The government has issued a consultation document on how insurers can use gender as a risk factor in the light of the European Court of Justice Test Achats ruling in March.
Skuld sees 13% premium growth at Q3
Norwegian maritime insurer Skuld continued to grow in the third quarter, with a 13% increase in premium income year on year.
European financial services M&A activity down by 25%
There has been a significant slowdown in European financial services M&A activity during the Q3 of 2011.
CCV names new boss for Moscrops
CCV-owned Lancashire based broker Moscrops has appointed Andrew Champion to take over as managing director following the retirement of Tim Chadwick.
Young women could see 11% rise in car premiums due to gender ruling
A study quantifying the economic impact on European consumers of the EU's gender ruling will hit young women hardest, with an 11% rise in car insurance premiums.
Ai Claims hires COO from Homeserve
Blackpool-based accident management business Ai Claims Solutions has hired Simon Pook as the company’s first ever chief operating officer.
Motor reform threatens Chinese non-life market
Commercial motor pricing reform and a worsening underwriting deficit of compulsory third liability are threats to the stable outlook of the Chinese non-life market, according to a recent report.
Talanx licenses Towers Watson software for global risk management
Talanx has purchased Towers Watson's financial modelling and reserving software to harmonise its regulatory capital reporting.
Optimas sells Premium Choice
Mark Woods and Richard Dornan, pictured, co-founders of Birmingham niche broker Premium Choice, have bought back the company they sold four years ago to venture capitalist Optimas.
Car thieves target defrosting vehicles, ABI warns
Motorists leaving their cars to defrost and warm up this winter risk being left out in the cold as thieves target vehicles left unattended, the Association of British Insurers has warned.
Loss adjusters ready for Scotland storms
Loss adjuster Cunningham Lindsey is on standby to deal with the storms forecast to hit Northern England this afternoon.
Regulation still thwarts China expansion
Property and casualty insurers still consider China’s tight regulatory environment as the top concern, a report from PWC has found.
Calls for stricter ID checks to clamp down on plant theft
The Metropolitan Police has issued a plea to the insurance industry to introduce harsher ID checks before issuing policy cover in a bid to prevent finance and hire vehicle fraud.
Lloyd’s underwriters “looking at Conrad Murray conviction"
Lloyd’s underwriters are examining the impact Dr Conrad Murray’s manslaughter conviction for Michael Jackson’s death will have on their legal battle with AEG Live.
QBE appoints property underwriter for Dubai
QBE has appointed Vladan Radakovic as a property underwriter in QBE’s Dubai office.
QBE appoints Radakovic to Dubai office
Business insurer QBE has recruited Vladan Radakovic from Chartis to be property underwriter in QBE’s Dubai office.
Regulation still thwarts China expansion
Property and casualty insurers still consider China’s tight regulatory environment as the top concern, a report from PWC has found.
Zurich promotes new Farmers CEO
Zurich Financial Services Group has promoted Jeff Dailey from president and chief operating officer of Farmers Group to CEO. He will also join the Zurich group executive committee from 1 January 2012.
Munich Re puts €500m on Thai floods
Munich Re has estimated that the Thai floods will cost it €500m net before tax, but warned the figure could be higher.
Zurich calls on government for clearer winter advice
It is not just the responsibility of businesses to prepare ahead of extreme weather, but a “necessity” of government to support businesses, communicate clearly and provide advice, according to Zurich.
Broker claims unearned work transfer payments are endemic in commercial
Brokers are continuing to take secret payments from insurers and not declaring them to clients, according to a specialist commercial intermediary.
Editor's comment: Impacting the market
Market-turning they may not be but market-impacting they evidently are. Revised loss estimates for the 1500 industrial units hit by the Thai floods have reached $20bn.
Equalisation reserve changes to impact insurers
Legislative changes to claims equalisation reserves will disadvantage insurers, a PwC analyst has warned.