News
New Zealand market in “state of transformation”
New Zealand’s non-life insurance market is in a state of transformation as it grapples with prolonged earthquake activity in addition to regulatory developments, a new special report from AM Best has found.
Aon Benfield unveils updated UK terrorism catastrophe model
Aon Benfield has updated its UK terrorism catastrophe model to simulate attacks on more than 2000 potential targets, including places of worship, financial centres, infrastructure, government and military locations.
Post Blog: An insurance business born out of the Prince's Trust
Recently the Prince's Trust Insurance Leadership Group celebrated breaking the £5m fund-raising barrier with a reception at the Chartered Insurance Institute.
Groupama boosts claims focus with internal appointment
Groupama has today announced the promotion of Darren Wills to the position of corporate claims director, as part of a renewed claims strategy focus.
Guernsey’s outlook “stable” despite global economic storms, says S&P
Ratings service Standard & Poor’s has reaffirmed its view of Guernsey’s financial and economic stability after giving the territory the highest rating possible against its newly revised technical scoring methodology.
Ferma lobbies Brazilian regulator on behalf of members
The Federation of European Risk Management Associations has sent a letter imploring the Brazilian insurance regulator SUSEP to limit the impact of regulations 225 and 232 on market capacity and security in the interest of business and insurance buyers.
AIB to challenge Quinn’s bankruptcy
Anglo Irish Bank is set to challenge Sean Quinn’s insolvency proceedings in Northern Ireland, according to the Irish Independent.
Zurich launches ‘5 point plan’ for extreme weather
Nearly two thirds of British businesses suffered disruption to their supply chain because of last winter’s bad weather.
Rise of PPOs has tailed off in PI cases
The growth of Periodical Payments Orders that top up personal accident claims over time has tailed off according to a study by the International Underwriting Association.
Questgates expands property division
Loss adjuster Questgates has added three new recruits to its property division taking William McClurg from Cunninghams, Andrew Collins from the broker Giles and Sam Hooper from GAB Robins.
Defaqto compares 66 caravan policies
Independent financial research company Defaqto has launched a new data set on the caravan insurance market within to help insurers compete in this niche sector.
Ace recruits from RSA in the Midlands
Ace has recruited RSA’s Steve Baker to its technical risks team as regional construction underwriter, responsible for developing the construction book of business in the Midlands and the South.
Zurich names group treasurer
Zurich Financial Services Group has appointed Colm Holmes as group treasurer, with immediate effect.
Zurich names Treasury boss
Zurich Financial Services has named Irishman Colm Holmes as group treasurer, with immediate effect. He succeeds Pierre Wauthier, who was appointed chief financial officer and member of the group executive committee from 1 October.
QBE strengthens UK surety business
Business insurer QBE has appointed Steve Manwaring as UK surety manager from Swedish bank Svenska Handelsbanken.
Generali in profit despite €329m Greek bond losses
Assicurazioni Generali reported net impairment losses of €824m in the first nine months of 2011, €329m of which was related to Greek bonds.
Hardy reports COR of 111%
Hardy Underwriting said in its Q3 results gross written premiums for the syndicate had increased by 8.5% year on year.
AmWINS agrees THB deal
AmWINS Group is to take over the THB Group with an accepted bid of 80.55 pence per share making it worth about £29m.
Catlin: cat losses demand change
Catlin has called on its aggregate reinsurance after catastrophe losses from the Thai floods hit $670m.
TIP buys Rhodes Wood Risk Services
Yorkshire broker The Insurance Partnership has expanded its presence in the West Midlands with the acquisition of Wolverhampton-based Rhodes Wood Risk Services.
RSA restructure aims to improve performance in Western Europe
RSA has made several changes to the operating structure and executive team of the group which will be effective from 1 January 2012.
Insurance Insight Update - 11 November
Insurance Insight’s weekly update is live with an article the biggest man-made disaster in Cypriot history; and a blog on why more education is needed in the Middle East.
RSA restructures executive team
RSA has changed its group’s operating structure and executive team.
HCML launches joint working group
Health & Case Management is set to launch a joint working group of medical experts.