News
ABI defends insurers on riot complaints
The Association of British Insurers has denied insurers let down riot-torn householders and small businesses.
Chinese insurance giant PICC P&C unveils HK$6.13bn IPO plan
Chinese insurance group PICC Property and Casualty has nnounced plans to raise HK$6.13bn through a listing on the Hong Kong Stock Exchange.
Generali enters the STOXX Europe Sustainability Index
Assicurazioni Generali has entered the STOXX Europe Sustainability Index and been reconfirmed in the FTSE4Good Index.
IAG boss warns Europe's debts could impact global insurance market
Europe's debt crisis could impact the global insurance industry, reducing competition in markets where insurers have exposure to troubled European sovereigns, says IAG chief.
Insurance broker buys majority stake in non league football club
Oxford-based insurance broker Bridle Insurance has taken a majority shareholding in Blue Square football club Eastleigh.
Groupama to meet 'in the dark' brokers
Groupama is expected to give the first details of what might happen to the troubled French insurer in the UK when it meets with many of its UK brokers tonight.
Insurance key to encouraging private investment into renewables
Significant financial risk is most acute hazard for renewable energy sector, according to a report by Economist Intelligence Unit and Swiss Re.
Bird named as interim IFB director
Motor Insurers’ Bureau head of customer services Phil Bird is “overseeing day to day operations” at the Insurance Fraud Bureau following the departure of director Glen Marr.
Sean Quinn ordered to repay €1.74bn
The unit created to fight for assets for the crisis-hit Allied Irish Bank has won another victory against Sean Quinn, forcing him to repay €1.74bn, bringing the total the Irish courts have told Quinn to pay to €2.16bn.
Former AA MD Briscoe returns
Former managing director of AA Insurance Services, Andy Briscoe, has returned to the general insurance industry as non-executive chairman at claims management software specialist IT Freedom.
FSA slams RBSI for ‘unfair’ pet terms
The Financial Services Authority has told RBSI to cease using a term in its Direct Line pet insurance that it suggests may be unfair and has reported the insurer to the Office of Fair Trading.
Riot report criticises insurers on claims
A government-backed report into businesses and homeowners hit by the riots has slated insurers for slow and inadequate claims payments and providing lack of help. It suggested insurers had favoured big businesses.
Omega seeks clarification over Haverford bid as deadline approaches
Lloyd's insurer Omega has admitted that bidder Haverford is considering cutting its offer for 25% of the business.
CGI expands with Ageas appointment
Congregational & General has appointed Andy Squires as head of underwriting as the company claims to be facing a period of unprecedented growth.
Italy sees decreasing RTAs
Road accidents, casualties and the number of injured people are decreasing in Italy, according to the latest report by ISTAT, Italy's national statistics bureau, and the Automobile Club d'Italia.
More competition needed in Italian insurance says Antitrust Authority
There is not enough competition among insurance companies in Italy, according to Antitrust Authority president Antonio Catricalà.
Health & safety law to be 'clarified'
The government has said it will slash the burden on employers and their liability insurers in the wake of recommendation from its independent review of health and safety legislation.
Aioi Nissay Dowa (China) achieves A- rating
Aioi Nissay Dowa Insurance (China) Company has had its financial strength rating of A- (Excellent) and issuer credit rating of “a-” confirmed with stable outlooks for both.
US reinsurers report worsening COR
The Reinsurance Association of America has reported that 19 US property-casualty reinsurers wrote $18.3bn of net premiums during the nine-months ended 30 September 2010 compared to $18.7bn for the same period in 2009.
Hiscox HNW boss joins Barbican
Former Hiscox high net worth head Austyn Tusler is to become head of UK insurance at Barbican in January.
Cobra splits into retail and wholesale
Cobra Holdings has split itself into wholesale and retail divisions and made its broker network boss John Lincoln head of the wholesale division.
Reynolds’ new recruit marks start of southern expansion plans
Credit insurance broker Reynolds has recruited Andrew Carnie, pictured, to its trade credit team in a move hoped to boost the firm’s presence in the south.
ULR Additions to appeal Webster Dixon decision
ULR Additions has lodged an appeal in the Webster Dixon case against the judgment which will force it to pay higher fees to non-panel solicitors chosen by legal expenses policyholders.
Aviva boss explains Scottish move
Aviva trading director Jonathan Neill this afternoon told Post that the decision to establish a regional broking operation in Scotland was made following company research which highlighted six major UK “insurance hubs”.